Managed File Transfer Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 28.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Managed File Transfer Market Analysis
Managed File Transfer Market is expected to register a healthy CAGR of about 28.3% during the forecast period 2022 to 2027. Managed file transfer is been widely considered a faster and more transparent means of transferring heavy data across an organization or between two or more different organizations. Factors such as increased cyberattacks and increased demand for improved compliance are encouraging enterprises to adopt managed file transfer solutions to transfer and share various types of data securely.
- Managed file transfer (MFT) offers users a modular design, in-built interfaces, business application connectors, and advanced managed folder capabilities. Furthermore, it can be integrated seamlessly with enterprise business processes and IT workflows. Managed file transfer helps organizations eliminate security compliance and governance shortcomings involved in information sharing, whether internal or external. Furthermore, the market is expected to be driven by opportunities such as the rising trend in application integration and cloud-based managed file transfer solutions.
- Data-sensitive sectors, such as financial institutions, banks, and defense institutes, constantly seek maximum security and enhanced performance at reduced costs. This is effectively achieved by implementing appropriate MFT solutions, reaffirming the possibilities of market growth in the near future.
- The growing demand for MFT solutions across various end-user industries is encouraging the solution providers to launch new products with innovative features. For instance, in June 2022, South River Technologies, Inc. released Cornerstone MFT Server NextGen. The solution is built on a highly secure and modern cross-platform and includes scalable technologies for both on-premises and cloud implementations.
- As several vendors are entering the market, keeping the overall cost of the offering low is among the major challenge for the MFT solution providers. Additionally, when an organization installs a managed file transfer system, it needs to provide access to its main server to analyze the organization's needs. As the main server contains all sensitive data about the company, its customers, and business partners, it exposes them to a risk of data breach.
- The vendors operating in the market have been developing cloud-based managed file transfer solutions to cope with the increasing remote working environment established due to COVID-19. As workforces are now working more remotely than ever, it's not just the network connectivity issues that must be kept in mind. Secure managed file transfer (MFT) solutions, being a robust solution for secure file sharing irrespective of location, has witnessed an upward trend during the pandemic and is expected to follow a similar growth pattern during the forecast period.
Managed File Transfer Market Trends
This section covers the major market trends shaping the Managed File Transfer Market according to our research experts:
Cloud-based Deployment Model to Grow at a Significant Rate
- Cloud-based service model for the data storage under which digital data is stored in a logical set of pools is used to maintain, back up & manage the large data set and allow easy accessibility to users over any available network. Also, with automation trends prominent, it has become increasingly important for industries to look for solutions that can offer services to reduce infrastructure costs.
- The cloud-based solutions offer higher performance and anticipated service levels that help cater to growing requirements, such as high availability, mixed workload management, near real-time data loads, and complex query execution. Hence, enterprises are availing of the cloud-based model of managed file transfer solutions as an enhanced option for rapidly emerging file-sharing services across the business ecosystem.
- According to a survey by MuleSoft, a new generation of Cloud Managed File Transfer as a Service (MFTaaS) has emerged in recent years. MFTaaS means Managed File Transfer is delivered as a cloud-native service with a hybrid architecture to share files internally and with partners. Its flexible and rapid deployment, flexible scalability, and subscription-based licensing are among the major reason many organizations choose MFTaaS over on-premises solutions.
- The advent of next-generation solutions facilitates cutting-edge file transfer product features that can be controlled through detailed management and operational APIs. These next-generation solutions focus more on providing solutions rather than product range. Furthermore, the solution providers also focus on integrating different elements to deliver a customer-centric experience enriched with by-products and services to accelerate user adoption.
- Furthermore, the vendors are also focusing on launching solutions that can be equally accessible on various cloud platforms. For instance, in June 2022, Axway, one of the providers of API-driven B2B integration and MFT Software, announced the latest release of MFT for Axway Managed Cloud. The company announced that the software would be available through subscriptions in both Microsoft Azure and Amazon Web Services marketplaces to provide better cost control and compatibility.
North America to Hold Significant Market Share
- Companies across the North American region are stepping into a new era of hybrid IT management system that combines public cloud, private cloud, and traditional IT. These organizations have implemented a hybrid cloud strategy as it is helping them to improve the way they run their business and deliver services to customers.
- Additionally, the increased electronic device penetration in the North American region has resulted in the high adoption of BYOD, forcing companies to adopt cloud MFT services to address employee needs. Furthermore, the presence of prominent startups with an aggressive MFT policy and freedom for employees has augmented the growth of the managed file transfer market.
- According to a study conducted by IPSwitch in January 2021, MFT has emerged as a key technology that will play a major role in the success of many businesses in moving data reliably and securely at the right time. Furthermore, MFT solutions enable organizations to securely transfer sensitive information as needed, allowing internal and external teams to conduct business without compromising their digital assets.
- As the number of cyber incidents and data breaches is growing in countries such as the United States and Canada, users who regularly transfer financial, personal, or other sensitive data and are concerned about data security, accessibility, and compliance while maintaining control are expected to increase their investment in MFT solutions. For instance, according to the Identity Theft Resource Center, in 2021, about 817 data compromise incidents were identified in the United States, impacting about 53.35 million individuals.
Managed File Transfer Industry Overview
The managed file transfer market is moderately competitive and consists of several major players. Some of the players currently dominate the market in terms of market presence. However, with the advancement in cloud-based services, new players are increasing their market presence, thereby expanding their business footprint across the emerging economies. Some of the major players operating in the market include IBM Corp., Oracle Corp., OpenText Corporation, and TIBCO Software Inc., among others.
- June 2022 - Coviant Software, the provider of secure managed file transfer (MFT) technology, released Diplomat MFT v9.1, an update that adds file synchronization, data replication, and support for simultaneous file transfers to multiple destinations. The new features were designed and integrated into the company's platform in close collaboration with customers and to support their needs.
- April 2022 - Progress MOVEit file transfer had been recognized as the Leader in G2's Spring 2022 Grid Report for Managed File Transfer. In addition to G2's recognition, SoftwareReviews has named MOVEit a Gold Medalist of the 2022 Managed File Transfer Data Quadrant Awards, based on verified survey data gathered from authentic end users.
Managed File Transfer Market Leaders
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IBM Corp.
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Oracle Corp.
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OpenText Corp.
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TIBCO Software Inc.
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GlobalSCAPE Inc.
*Disclaimer: Major Players sorted in no particular order
Managed File Transfer Market News
- June 2021 - Cleo Communications, a global ecosystem integration software solutions provider, received an investment of about USD 5.5 billion from an affiliate of H.I.G. Capital. The investment is expected to help the company further expand its presence in the global managed file transfer market.
- February 2021 - Oracle Corporation released a new feature to its managed file transfer cloud service, a unique source and target type, OCI Storage Cloud Service, that can be selected to transfer data to and from the Oracle Cloud Infrastructure. This feature is available only in Oracle Managed File Transfer 12.2.1.4 if users have installed patch 32395225.
Managed File Transfer Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
-
4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Threat of New Entrants
- 4.2.2 Bargaining Power of Buyers/Consumers
- 4.2.3 Bargaining Power of Suppliers
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Growing Demand of the Cloud-based Technologies
- 5.1.2 Rising Concern on Data Security and Governance
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5.2 Market Restraints
- 5.2.1 Lack of Awareness Among Professionals
6. MARKET SEGMENTATION
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6.1 By Organization Size
- 6.1.1 Large Enterprises
- 6.1.2 Small and Medium Enterprises
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6.2 By Deployment
- 6.2.1 Cloud-based
- 6.2.2 On-premise
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6.3 By Solution
- 6.3.1 Real-Time Monitoring and Control
- 6.3.2 Fast Partner Onboarding/Collaboration
- 6.3.3 Automate Application Transfers
- 6.3.4 Other Solutions
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6.4 End-user Industry
- 6.4.1 IT & Telecommunication
- 6.4.2 BFSI
- 6.4.3 Retail
- 6.4.4 Healthcare
- 6.4.5 Media & Entertainment
- 6.4.6 Other End-user Industry
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6.5 By Geography
- 6.5.1 North America
- 6.5.2 Europe
- 6.5.3 Asia-Pacific
- 6.5.4 Latin America
- 6.5.5 Middle East & Africa
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 IBM Corp.
- 7.1.2 Oracle Corp.
- 7.1.3 OpenText Corp.
- 7.1.4 TIBCO Software Inc.
- 7.1.5 GoAnywhere (HelpSystems LLC.)
- 7.1.6 Progress Software Corporation
- 7.1.7 GlobalSCAPE Inc.
- 7.1.8 Thru Inc.
- 7.1.9 Cleo Communications Inc.
- 7.1.10 Attunity Ltd. (QlikTech International AB)
- 7.1.11 Axway Inc.
- 7.1.12 Coviant Software
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityManaged File Transfer Industry Segmentation
Managed file transfer (MFT) is a technology platform that allows organizations to reliably exchange electronic data between systems and people in a secure way to meet compliance needs. It features the design, deployment, and monitoring of file transfers using a lightweight web-based design-time console that includes transfer prioritization, file encryption, scheduling, and embedded FTP servers. With the emergence of the cloud, MFT has taken on new relevance as it morphs and expands to play a critical role in moving large sets of Big Data and traditional business files to, from, and through clouds.
The studied market is segmented on the organization's size, deployment, and end-user industries; the market briefs about the impact of COVID-19 and key trends adopted by the players across the globe.
| By Organization Size | Large Enterprises |
| Small and Medium Enterprises | |
| By Deployment | Cloud-based |
| On-premise | |
| By Solution | Real-Time Monitoring and Control |
| Fast Partner Onboarding/Collaboration | |
| Automate Application Transfers | |
| Other Solutions | |
| End-user Industry | IT & Telecommunication |
| BFSI | |
| Retail | |
| Healthcare | |
| Media & Entertainment | |
| Other End-user Industry | |
| By Geography | North America |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East & Africa |
Managed File Transfer Market Research FAQs
What is the current Managed File Transfer Market size?
The Managed File Transfer Market is projected to register a CAGR of 28.30% during the forecast period (2024-2029)
Who are the key players in Managed File Transfer Market?
IBM Corp., Oracle Corp., OpenText Corp., TIBCO Software Inc. and GlobalSCAPE Inc. are the major companies operating in the Managed File Transfer Market.
Which is the fastest growing region in Managed File Transfer Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Managed File Transfer Market?
In 2024, the North America accounts for the largest market share in Managed File Transfer Market.
What years does this Managed File Transfer Market cover?
The report covers the Managed File Transfer Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Managed File Transfer Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Managed File Transfer Industry Report
Statistics for the 2024 Managed File Transfer market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Managed File Transfer analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
