According to a new market report published by Credence Research, Inc. “Managed File Transfer Market By Type (Software, Service), By Software (System-centric File Transfer, People-centric File Transfer, Extreme File Transfer), By Service (Implementation & Integration, Consulting, Support), By End User (BFSI, Media & Entertainment, Retail, Manufacturing, IT & Telecom and Others) – Growth, Share, Opportunities & Competitive Analysis, 2016 – 2023”, the global managed file transfer market is expected to grow at a CAGR of over 6% from 2016 to 2023.
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Managed file transfer is a software that offers a secure and real-time file transfer within or outside enterprises. These software is gaining traction in major end-user verticals such as banking & financial services, IT & telecom and healthcare sectors. Managed file transfer software is finding new applications in government and educations institution for secure file sharing. Superiority of these software over traditional file transfer protocol (FTP) software is boosting growth of the managed file transfer market across the globe. Additionally, small and medium enterprises are increasingly deploying these solutions to enhance business performance and data security. However, lack of awareness among enterprises, especially in developing regions is hindering adoption of managed file transfer solutions. Also, involvement of third party vendor pose threat to data privacy and security, which, in turn, is expected to hamper growth of the market to certain extent.
Key players in the managed file transfer market are focused towards investing substantial amount on research and development activities to introduce advanced and cost-effective solutions. Also, introduction of cloud-based managed file transfer solutions is becoming an emerging trend in the market. Strategic partnership and collaboration is the another major strategy followed by vendors to strengthen market position and expand existing product portfolio. Major vendors operating in the global managed file transfer market are Axway Inc., IBM Corporation, Oracle Corporation, CA Technologies Inc., Signiant Inc., Software AG, GlobalSCAPE Inc., Wipro Limited., SWIFT, and Micro Focus (Attachmate).
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- Strategic partnership and collaboration ventures among key players
- Substantial investment on research and development activities
- Introduction of cloud-based managed file transfer solutions
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