Managed File Transfer Market Size, Industry Analysis Report, Regional, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026
Report ID: GMI4506
Managed File Transfer Market size is set to witness gains at healthy rate in the projected timeframe impelled by rising demand for distributed computing, cloud, IoT, and continuous innovations in file transfer technology. Some of the major factors driving the growth of managed file transfer market include rising concern towards data security, inclination towards digital data across the globe.
Today, enterprises operate in a highly connected environment and the data volume is increasing rapidly. Most of the B2B digital communications involve highly sensitive information which require a secure gateway in order to avoid data theft. managed file transfer offers control and security required for high volume, secure file transfers. With the rising adoption of cybersecurity, the demand for newer and advanced security solutions is expected to heighten in different industry verticals including banking, accounting, government, and many others. Hence, enterprises are increasingly deploying managed file transfer technology to handle huge amount of data in motion.
Moreover, the managed file transfer software provides superior features than traditional file transfer protocols such as extensive security controls, automated batch file transfers, support for industry standard file servers, advanced auditing and reporting, etc.
The traditional file transfer protocols are not able to efficiently handle continuous growing data volume and do not offer required visibility to the file transfer activity. managed file transfer has been designed to overcome these obstacles. These protocols offer different file servers including AS2, FTPS, and SFTP for internal network, which allow authenticated users to establish a secure connection to exchange the sensitive files. These advantages are expected to fuel the growth of global managed file transfer market over the forecast period. However, the high cost associated with managed file transfer might hamper the market growth the forecast period.
North America is anticipated to account for a significant share in the global managed file transfer market owing to increasing investment in IT & telecom sector. Also, the rising adoption of big data technology across the region is expected to boost the market growth.
Furthermore, due to the growing incidents of cyber-attacks, the demand for solutions related to data security during various stages of file transfer is increasing consistently. Additionally, the U.S. government has issued different cybersecurity laws and regulations. For instance, the CFAA (Computer Fraud and Abuse ACT) is the primary statutory mechanism for prosecuting cybercrime and provides both civil and criminal penalties.
The Asia Pacific is projected to show substantial growth throughout the forecast period. This is mainly due to emergence of different industries and inclination towards digital technologies among the consumers. The industries such as banking, government, retail, etc. are on the brink of digital transformation in the APAC region, which is likely to increase the cybercrime activities. These trends are expected to lay a positive impact on the growth of managed file transfer market in Asia Pacific.
Enterprises are engaged in research and development activities in order to develop innovative products and enhance their product portfolio. For instance, in August 2019, Information Systems Group (ISG) of CMS announced the launch of GoAnywhere MVP Production software in the replacement of current tool Axway. The new software is designed to perform file transfer activities in encrypted form while maintaining security, timeliness, and cost-efficiency.
Additionally, the companies are highly focused on research and development activities in order to serve their end-users with better products and services. For instance, Oracle has five in-house R&D centers in India where they develop innovative solutions and serve more than 150 countries across the globe. IBM annually invests more than 7% of their total revenue in research and development activities.
The global managed file transfer market is fragmented in nature as it is highly competitive. The entry barriers for new enterprises can be considered as moderate to high as the cost associated with these systems are high. Still, owing to the expected rapid growth of the market, it is highly fragmented with multiple regional and international players.
Some of the major player operating in this market are Amazon Web Services, Inc. ArcESB International, Axway, Cleo, Coviant Software, GlobalSCAPE, Inc., HelpSystems, IBM Corp., OpenText Corporation, Oracle, Progress Software Corporation, TIBCO Software Inc., and XMedius.
Market by Type, 2015-2026 (USD Million)
- System - Centric File Transfer
- People – Centric File Transfer
- Ad-hoc File Transfer
Market by Deployment Type, 2015-2026 (USD Million)
- Cloud Based
Market by Organization Size, 2015-2026 (USD Million)
- Large Enterprise
Market by End-Use Industry, 2015-2026 (USD Million)
- IT & Telecom
- Media & Entertainment
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Southeast Asia
- Latin America
- South Africa
- Saudi Arabia
- Amazon Web Services, Inc.
- ArcESB International
- Coviant Software
- GlobalSCAPE, Inc.
- IBM Corp.
- OpenText Corporation
- Progress Software Corporation
- TIBCO Software Inc.
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