Managed File Transfer Service Market is Estimated to grow at a CAGR of 11.2% from 2023 to 2033
Managed File Transfer Service Market
The market for managed file transfer software and services is projected to be worth approximately US$ 1,654.3 Million in 2022 and to exceed US$ 5,257.3 Million in 2033. Additionally, it is anticipated to increase at a CAGR of 11.2% from 2023 to 2033 and be valued at US$ 1,813.1 Million in 2023.
Software called Managed File Transfer (MFT) is used to exchange files securely between groups of people or businesses. It is a technology that offers a centralized platform for controlling and automating the transfer of data across various systems inside and outside the network of a business. 25% of the file transfer market is made up of managed file transfer services.
The Managed File Transfer (MFT) Service market refers to the market for software and services that enable the secure and reliable transfer of data files between different systems and networks. MFT services are designed to help organizations manage and streamline their file transfer processes while ensuring the security and compliance of sensitive data.
Some of the key factors driving the growth of the MFT service market include the increasing need for secure file transfer solutions in organizations, rising concerns over data security and compliance, and the growing adoption of cloud-based solutions.
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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.
- In February 2023, Redwood Software acquired Cerberus to grow its automation & managed file transfer offerings that also include RunMyJobs, ActiveBatch, and JSCAPE.
- In August 2022, Axway launched Axway Managed File Transfer (MFT) with more control access capabilities & options available with supported databases, authentication, and protocols mechanisms.
- Micro Focus International plc
- Axway Inc.
- IBM Corporation
- Oracle Corporation
- Software AG
- CA Technologies Inc.
- GlobalSCAPE, Inc.
Key Segments of Managed File Transfer Software & Service Market Industry Research
- System-centric File Transfer
- People-centric File Transfer
- Extreme File Transfer
- Implementation & Integration
- Media & Entertainment
- North America
- Latin America
- East Asia
- South Asia Pacific
- Middle East and Africa
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