Managed File Transfer Market Growth Predicted at 10% Till 20
SELBYVILLE, Delaware, June 23, 2020 /PRNewswire/ -- According to latest report "Managed File Transfer Market By Component (Solution [Application-centric, People-centric/Ad-Hoc], Service), Deployment Model (On-premise, Cloud), By Organization Size (Large Enterprise, SMEs), Application (BFSI, Healthcare, IT & Telecom, Retail, Manufacturing), Regional Outlook, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of managed file transfer will cross $3 billion by 2026. The growing demand for security and control while transferring a large volume of data is expected to contribute significantly to the market growth.
The rising need for enhanced visibility in file transfer activities across enterprises is expected to fuel the managed file transfer market growth. Managed file transfer solutions provide improved visibility and control during large volume data transfer. They also offer security and reliability along with end-user simplicity to facilitate critical data transfer processes. The use of MTF solutions helps enterprises to improve their productivity with controlled and sophisticated file transfer solutions as per business requirements.
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The ad-hoc managed file transfer market is poised to witness around 15% growth till 2026. The ad-hoc solution helps in managing person-to-person file transfer with less burden on enterprise resources. It also features reactive management technologies for reporting and auditing multiple file transfers. It helps in eliminating the need for third-party file transfer software and websites for the transfer of sensitive information.
The cloud-based managed file transfer segment will register 16% gains over the coming years. Major enterprises are adopting cloud-based managed file transfer solutions that help in sending multiple files across remote locations. Due to the extensive penetration of cloud computing technology, enterprises are adopting cloud-based MTF solutions. Furthermore, enterprises are shifting to cloud-based infrastructure, and companies operating in the market are developing cloud-based solutions.
The healthcare segment in the managed file transfer market is anticipated to grow at more than 16% CAGR through 2026. Organizations operating in the healthcare sector are deploying managed file transfer solutions to share and manage critical data such as patient's medical history and medical device readings. They also help in maintaining regulatory compliance for the healthcare industry including Health Insurance Portability and Accountability Act (HIPAA).
The adoption of managed file transfer solutions across large enterprises will rise at a rate of nearly 10% from 2020 to 2026. Large enterprises process complex and mission-critical information that requires transfer across different teams. In addition, the threat of cyberattacks and potential monetary loss are supporting the adoption of advanced managed file transfer solutions across large enterprises. The growing need to simplify complex file transfer systems in a mission-critical environment is enabling large enterprises to adopt advanced managed file transfer solutions.
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Asia Pacific managed file transfer market is projected to expand at a CAGR of over 15% during the forecast period. Major enterprises across China and India are using managed file transfer solutions for secure, cost-effective communication, and seamless virtual integration. Enterprises operating in the BFSI sector in the region are using MTF solutions to improve the overall customer experience.
Major players operating in the market are Axway, Inc., IBM Corporation, Progress Software Corporation, and Saison Information System Co. Ltd. Companies operating in the market are focusing on development of advanced managed file transfer solutions that support hybrid cloud architectures.
Table of Contents (ToC) of the report:
Chapter 3. Managed File Transfer Market Insights
3.2. Industry segmentation
3.3. Managed File Transfer (MFT) vs File Transfer Protocol (FTP)
3.4. Impact of COVID-19 outbreak
3.4.1. Impact by region
22.214.171.124. North America
126.96.36.199. Asia Pacific
188.8.131.52. Latin America
184.108.40.206. Middle East & Africa
3.4.2. Impact on value chain
3.4.3. Impact on competitive landscape
3.5. Technological evolution
3.6. Industry ecosystem analysis
3.7. Technology & innovation landscape
3.7.1. Extreme file transfer
3.7.2. Integration Platform as a Service (iPaaS)
3.8. Regulatory landscape
3.8.1. Markets in Financial Instruments Directive (MiFID)
3.8.2. The Privacy and Electronic Communications (EC Directive) Regulations 2003
3.8.3. General Data Protection Regulation
3.8.4. Sarbanes–Oxley Act
3.8.5. The Dodd-Frank Act
3.8.6. Health Insurance Portability and Accountability Act (HIPAA)
3.8.7. Protection of Personal Information Act (2013)
3.8.8. Electronic Communications and Transactions Act 25 of 2002
3.8.9. Nigeria Communications Act (2003)
3.9. Industry impact forces
3.9.1. Growth drivers
3.9.2. Industry pitfalls & challenges
3.10. Porter's analysis
3.11. PESTEL analysis
3.12. Growth potential analysis
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