LONDON, April 10, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the managed file transfer market identifies the increased cyberattacks will drive future growth in the managed file transfer market. Unauthorized access to computer systems in order to steal, expose, change, disable, or destroy information is referred to as a cyberattack. The use of managed file transfer (MFT) services can aid in providing improved security for company data, increasing demand. According to the Internet Crime Report 2021 published by the Federal Bureau of Investigation (FBI), a US-based law enforcement agency, 791,790 cybercrime complaints were received in the US in 2020, with this number increasing to 847,376 in 2021. As a result, increased cyberattacks propel the managed file transfer market forward.
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The global managed file transfer market size is expected to grow from $1.3 billion in 2022 to $1.5 billion in 2023 at a compound annual growth rate (CAGR) of more than 10%. The managed file transfer market share is then expected to reach $2.1 billion in 2027 at a CAGR of more than 9%.
Major players in the managed file transfer market are IBM Corporation, Axway Software, Ipswitch Inc., Attunity, Kiteworks, Globalscape, OpenText Corporation, Coviant Software, Jscape LLC, Wipro Limited.
Technological advancement is a key trend that is gaining traction in the managed file transfer market. Major market players are developing Diplomat MFT v9.1 managed file transfer system with additional benefits for their users. For example, in June 2022, Coviant Software, a US-based provider of managed file transfer solutions, released the Diplomat MFT v9.1. It is an update to its platform that includes new features such as data replication, file synchronisation, and support for simultaneous file transfers to multiple destinations. This solution is thus useful for customers who need to easily replicate files, including site content, for distribution to authorised web farms and across data centres.
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North America was the largest region in the managed file transfer market in 2022. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed file transfer report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The global managed file transfer market is segmented by service into consulting and system integration, support and maintenance; by solution into application-centric, people-centric, ad-hoc; by deployment type into cloud, on-premises; by organization size into small and medium enterprises (SMEs), large enterprises; by end-user industry into information technology and telecommunication, banking, financial services and insurance (BFSI), retail, healthcare, media and entertainment, other end-user industries.
Managed File Transfer Global Market Report 2023 by The Business Research Company provides insights on the managed file transfer market size, managed file transfer market segments, managed file transfer market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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