The Global Managed File Transfer Market size is expected to reach $3.6 billion by 2030, rising at a market growth of 10.2% CAGR during the forecast period.
Solution is the major component of Managed File Transfer Market, and it is widely adopted among the organizations therefore solution segment is anticipated to capture approximately 3/4thshare of the market by 2029. Protecting sensitive customer information is a top priority for every company. MFT goes beyond safely transferring files between systems and users. It may also automate procedures, guarantee secure connections, monitor file transfer activity (such as user access), and more. In a hyper-connected environment, any network flaw or simple data breach might put a whole organization at risk.
According to the IBM’s Cost of a Data Breach Report 2022, the average financial impact of data breaches in 2022 was close to USD 4.35 million. The same source states that approximately 45% breaches are generally cloud-based. A business may quickly and securely send files or other types of information with MFT solutions. Some of the factors impacting the market are increasing demand for MFT solutions for business workflow management automation, rising need for MFT solutions to meet regulatory and industrial standards, and challenges in the transfer of large sized files.
Businesses will have to deal with an increase in the amount of data collected. The MFT industry is anticipated to increase in response to the rising need for file transfers. Many businesses have reached the stage where manual administration of their file transfer infrastructures is no longer an option. Therefore, it is anticipated that MFT adoption will rise along with the rising need for automation in enterprises. Managed file transfer best suits businesses that regularly transmit large amounts of data while preserving security and compliance. MFT tools are typically highly used in sectors including manufacturing, banking, and financial services. Therefore, the increasing use of these file transfer tools to meet regulatory standards is propelling the market's growth.
However, large files require substantial network bandwidth to transfer efficiently. If the network infrastructure lacks the necessary capacity or has bandwidth limitations, it can significantly slow down the file transfer process or cause failures. These adverse conditions for generating revenue and fostering corporate growth are anticipated to hinder the adoption of MFT solutions, affecting the market's growth throughout the forecast period.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Broadcom, Inc., IBM Corporation, Oracle Corporation, OpenText Corporation, Wipro Limited, Software AG, Axway Software SA, Ipswitch, Inc. (Progress Software Corporation), GlobalScape, Inc. (Fortra, LLC) and Signiant, Inc.
Solution is the major component of Managed File Transfer Market, and it is widely adopted among the organizations therefore solution segment is anticipated to capture approximately 3/4thshare of the market by 2029. Protecting sensitive customer information is a top priority for every company. MFT goes beyond safely transferring files between systems and users. It may also automate procedures, guarantee secure connections, monitor file transfer activity (such as user access), and more. In a hyper-connected environment, any network flaw or simple data breach might put a whole organization at risk.
According to the IBM’s Cost of a Data Breach Report 2022, the average financial impact of data breaches in 2022 was close to USD 4.35 million. The same source states that approximately 45% breaches are generally cloud-based. A business may quickly and securely send files or other types of information with MFT solutions. Some of the factors impacting the market are increasing demand for MFT solutions for business workflow management automation, rising need for MFT solutions to meet regulatory and industrial standards, and challenges in the transfer of large sized files.
Businesses will have to deal with an increase in the amount of data collected. The MFT industry is anticipated to increase in response to the rising need for file transfers. Many businesses have reached the stage where manual administration of their file transfer infrastructures is no longer an option. Therefore, it is anticipated that MFT adoption will rise along with the rising need for automation in enterprises. Managed file transfer best suits businesses that regularly transmit large amounts of data while preserving security and compliance. MFT tools are typically highly used in sectors including manufacturing, banking, and financial services. Therefore, the increasing use of these file transfer tools to meet regulatory standards is propelling the market's growth.
However, large files require substantial network bandwidth to transfer efficiently. If the network infrastructure lacks the necessary capacity or has bandwidth limitations, it can significantly slow down the file transfer process or cause failures. These adverse conditions for generating revenue and fostering corporate growth are anticipated to hinder the adoption of MFT solutions, affecting the market's growth throughout the forecast period.
Deployment Mode Outlook
Based on deployment mode, the market is segmented into cloud and on-premises. The cloud segment procured a considerable growth rate in the market in 2022. A cloud-based managed file transfer model is one where digital data is saved logically to manage, maintain, and back up a large volume of data so that users can readily access the network. As a result of this and the necessity for industries to pursue infrastructure-cost-reducing solutions, the segment is growing. Furthermore, as the demand for increased availability and mixed workload management increases, it is projected to offer higher service and performance levels.
Component Outlook
By component, the market is bifurcated into solution and services. The solution segment recorded the maximum revenue share in the market in 2022. Solution providers deliver a more thorough approach to technology and frequently recommend various Subject Matter Expert services, enabling customers to implement a challenging holistic project. For example, managed file transfer solutions offer a robust and secure approach to handling file transfers. By prioritizing security, reliability, scalability, and automation, these solutions enhance data protection, streamline processes, ensure compliance, and improve collaboration, ultimately driving operational efficiency and customer satisfaction.Solution Type Outlook
On the basis of solution type, the market is classified into application-centric, people-centric, and Ad-hoc. The application-centric segment acquired the largest revenue share in the market in 2022. Application-centric MFT solutions are designed to integrate seamlessly with existing business applications, systems, and workflows. They provide connectors and APIs that enable easy integration with various applications, including enterprise resource planning (ERP), customer relationship management (CRM), and supply chain management (SCM) systems.Organization Size Outlook
By organization size, the market is divided into small & medium enterprises (SMEs) and large enterprises. The large enterprises segment procured the highest revenue share in the market in 2022. Large businesses often employ MFT systems to automate operations, simplify file transfers, and ensure compliance with data protection laws. They also need MFT solutions that interact with their current IT infrastructure, including supply chain management (SCM) software, ERP systems, and customer relationship management (CRM) software.Vertical Outlook
On the basis of vertical, the market is categorized into BFSI, IT & telecom, retail, media & entertainment, government & public sector, manufacturing, healthcare & life sciences, and others. The IT and telecom segment acquired a significant revenue share in the market in 2022. The IT and telecom sector deal with large volumes of sensitive data, including customer information, financial records, and proprietary technology. MFT solutions provide robust security features such as encryption, secure protocols, and authentication mechanisms to ensure secure data transfers. This helps safeguard critical information from unauthorized access, interception, or data breaches.Regional Outlook
Region wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded the largest revenue share in the market in 2022. Due to the region's growing need for data security and governance, North America's market is growing. Companies are using advanced file transfer systems because of increased data breach occurrences and the transfer of sensitive data. To secure the protection of client data, regional government agencies are imposing norms and laws on businesses. Different rules are supported by managed file transfer solutions, making it simple for smaller enterprises with limited resources to compete in the market.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Broadcom, Inc., IBM Corporation, Oracle Corporation, OpenText Corporation, Wipro Limited, Software AG, Axway Software SA, Ipswitch, Inc. (Progress Software Corporation), GlobalScape, Inc. (Fortra, LLC) and Signiant, Inc.
Strategies Deployed in the Market
- May-2023: Wipro announced an extended partnership with Google Cloud, a portfolio of cloud computing services offered by Google. This partnership aims to deliver advanced generative artificial intelligence (AI) capabilities to help open value across enterprises and transform how large-scale businesses operate.
- Feb-2023: OpenText took over Micro Focus, a software and information technology company. Through this acquisition, OpenText would help company professionals secure their operations, gather more insights into their information, and better manage a highly complex and hybrid digital fabric.
- Jul-2022: Oracle came into partnership with Microsoft, a company engaged in the development and commercialize of software, services, and hardware. Through this partnership, both companies would launch Oracle Database Service for Azure, which would enable Azure customers direct access to Oracle databases running on Oracle Cloud Infrastructure.
- May-2022: IBM signed an agreement with Amazon Web Services, Inc., a subsidiary of Amazon that offers on-demand cloud computing platforms and APIs to individuals, companies, and governments. Under this agreement, both companies would offer clients access to IBM Software that runs cloud native on AWS.
- Apr-2022: OpenText partnered with MUFG Global Securities Lending Solutions Group, a provider of services consisting of trust banking, securities, commercial banking, and leasing. Following this partnership, Oracle would deliver a complete solution that helps MUFG's GSLS Group to simplify miscellaneous information storage, analytics, gathering, and security, and equip the GSLS team to digitize and manage service that allows them to meet their customers growing requirements.
- Apr-2022: Signiant Inc. unveiled Media Engine, a modern media management service created for The Signiant Platform. The product enables Signiant’s SaaS customers to simply search, preview and take action on media assets in all their Signiant-connected storage, from any location across the world.
- Oct-2021: Software AG introduced webMethods, a platform for customers and partners to automate business and serve up data insights. With the launch, customers would be able to make quick business decisions by analyzing the data processing through their integrations while automating and programmatically creating an API management strategy.
- Apr-2021: IBM announced the launch of IBM Spectrum Fusion, a software-defined storage and data management. The launched product would help companies broaden data availability in complex hybrid clouds for better business performance and resilience.
- Jan-2020: GlobalSCAPE, Inc. introduced Enhanced File Transfer (EFT) 2020 platform. The launched product is the eighth generation of Globalscape's managed file transfer platform and the strong version ever developed. The latest platform: eases the challenge of continuously growing compliance needs and simplifies the process of moving data to the cloud.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Application-centric
- People-centric
- Ad-hoc
- Services
By Deployment Mode
- On-premises
- Cloud
By Organization Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Vertical
- BFSI
- IT & Telecom
- Retail
- Media & Entertainment
- Government & Public Sector
- Manufacturing
- Healthcare & Life Sciences
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Broadcom, Inc.
- IBM Corporation
- Oracle Corporation
- OpenText Corporation
- Wipro Limited
- Software AG
- Axway Software SA
- Ipswitch, Inc. (Progress Software Corporation)
- GlobalScape, Inc. (Fortra, LLC)
- Signiant, Inc.
Unique Offerings
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. Global Managed File Transfer Market by Component
Chapter 5. Global Managed File Transfer Market by Deployment Mode
Chapter 6. Global Managed File Transfer Market by Organization Size
Chapter 7. Global Managed File Transfer Market by Vertical
Chapter 8. Global Managed File Transfer Market by Region
Chapter 9. Company Profiles
Companies Mentioned
- Broadcom, Inc.
- IBM Corporation
- Oracle Corporation
- OpenText Corporation
- Wipro Limited
- Software AG
- Axway Software SA
- Ipswitch, Inc. (Progress Software Corporation)
- GlobalScape, Inc. (Fortra, LLC)
- Signiant, Inc.
Methodology
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