Managed File Transfer Software and Service Market by Type (Software and Services)
ID: PMRREP6358
Format: PPT*, PDF, EXCEL
Last Updated: 8 March 2023
Industry: IT and Telecommunication
Number of Pages: 246
Managed file transfer software and services market is anticipated to be worth around US$ 1,654.3 Million in 2022, with the market reaching over US$ 5,257.3 Million in 2033. It is also projected to be worth US$ 1,813.1 Million in 2023 and is estimated to grow at a CAGR of 11.2% from 2023 ot 2033.
Managed File Transfer (MFT) is a type of software that is designed to securely exchange files between organizations or individuals. It is a technology that provides a centralized platform for managing and automating the movement of data between disparate systems, both within and outside an organization's network. Managed file transfer market accounts for the 25% of the file transfer market.
MFT solutions typically include features such as encryption, authentication, access control, and audit trails to ensure the confidentiality, integrity, and traceability of file transfers. MFT solutions can also support complex workflows, automate file processing tasks, and provide visibility and monitoring capabilities to track the status of file transfers.
Increasing demand for secured file transferring systems along with various regulatory are the major factors influencing the growth of the managed file transfer market. Many industries such as finance, healthcare, and government are subject to regulatory requirements that mandate the secure transfer of sensitive data. MFT solutions can help organizations comply with these regulations and avoid potential penalties or fines.
According to the geographical market estimates, the North American region will account for 26.2% of the global market in 2022. In Europe, consumption for these solutions is estimated to account for around 21.3% of the market in 2023.
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Managed File Transfer Market Size (2023) |
US$ 1813.1 Million |
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Projected Market Value (2033) |
US$ 5,257.3 Million |
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Global Market Growth Rate (2023 to 2033) |
11.2% |
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Software segment Market Share (2022) |
59.4% |
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Indian Market Growth Rate (2023 to 2033) |
13.2% |
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BFSI Segment Market Share (2022) |
21.1% |
“High Implementation and Maintenance Costs”
MFT solutions can require significant investments in hardware, software, and personnel, especially for large organizations. The ongoing maintenance and support costs can also be high, which can make it difficult for smaller organizations to adopt MFT solutions.
Moreover, some organizations may be resistant to change and may prefer to continue using legacy systems or manual file transfer methods, even if they are less efficient or less secure. This can make it difficult to convince these organizations to adopt MFT solutions.
“Cyber Security Threats along with the Regulatory Compliances Are Boosting the Growth of Managed File Transfer Market”
The United States is one of the largest targets of cyber-attacks, and the threat landscape is constantly evolving. The need for secure file transfer solutions has become a top priority for organizations of all sizes, and MFT solutions provide a robust set of security features such as encryption, access control, and audit trails.
Additionally, Many United States organizations are subject to regulations such as HIPAA, PCI-DSS, and GDPR that mandate secure file transfer processes. Failure to comply with these regulations can result in severe penalties and reputational damage. MFT solutions can help organizations meet these compliance requirements and avoid potential fines.
These aspects are aiding the acceptance of these technologies in the United States region, accounting to the region's considerable market share of 26.4% in 2022.
“Increasing Adoption of Ecommerce and Digital Marketplaces is Hastening the Adoption of Managed File Transfer”
India has a large and rapidly growing e-commerce market, with several online marketplaces and platforms facilitating online transactions. These platforms require a secure and efficient way to transfer data between buyers, sellers, and service providers, creating opportunities for MFT solutions.
Additionally, India is undergoing a rapid digital transformation, with a growing number of organizations adopting digital technologies to automate business processes and improve efficiency. MFT solutions can integrate with these technologies and provide a secure and efficient way to transfer data between systems.
These factors enable India's market to grow at a CAGR of 13.2% during the predicted period.
“Increased Adoption of the Cloud Technologies is Facilitating the Adoption of Managed File Transfer Services”
France is seeing a significant increase in cloud adoption, with many organizations moving their IT infrastructure and applications to the cloud. MFT solutions that support cloud-based file transfers can provide scalability, flexibility, and cost-effectiveness, making them an attractive solution for French organizations.
Moreover, France has a highly competitive MFT market, with several local and global vendors offering a range of solutions. This competition drives innovation and helps to keep pricing competitive, making it an attractive market for both vendors and customers.
Such considerations are predicted to hasten the deployment of managed file transfer in France.
Why Software Segment Hold the Major Market Share for Managed File Transfer Service Market?
Software-based MFT solutions are generally less expensive than hardware-based solutions. This is because they do not require the purchase of expensive hardware components, such as servers and storage devices.
Moreover, Software-based MFT solutions can integrate easily with existing IT systems, such as ERP systems, CRM systems, and other enterprise applications. This means that organizations can leverage their existing IT investments and avoid the need for additional hardware and software purchases.
These factors are influencing the major share of 59.4% of software segment in the market.
Why the Adoption of Managed File Transfer Services is Maximum in BFSI industry?
The BFSI industry deals with sensitive financial and personal data, making security a top priority. MFT solutions provide encryption, secure transfer protocols, and other security features that meet compliance requirements such as PCI-DSS, HIPAA, and GDPR.
The BFSI industry is subject to several regulatory requirements, such as SOX, PCI-DSS, and GDPR. MFT solutions can help BFSI organizations meet these compliance requirements by providing a secure and auditable file transfer platform.
Thus, market share of managed file transfer in BFSI industry is analysed to be 21.1% in 2022.
The competitive landscape of the MFT market is characterized by the presence of established vendors with a strong brand reputation, as well as smaller players offering niche solutions. The market is expected to remain highly competitive, with vendors focusing on innovation, partnerships, and mergers and acquisitions to gain a competitive advantage.
Recent developments related to key players providing managed file transfer market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
In 2023, the market value of managed file transfer was US$ 1,813.1 Mn.
The global managed file transfer market is estimated to advance at a 13.2% CAGR through 2033.
The market for managed file transfer is forecasted to climb to US$ 5,257.3 Mn by 2033 end.
Demand for managed file transfer market in India is projected to rise at a CAGR of 13.2% for 2023-2033.
In 2022, the North America managed file transfer market held a dominant market share of 26.2%.
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Attribute |
Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
US$ Million for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
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