What Has Been The Evolution of the Cloud MFT Managed File Transfer Services Market in Recent Years?
The cloud mft managed file transfer services market has seen considerable growth due to a variety of factors.
• The market size for cloud MFT (managed file transfer) services has seen rapid growth in recent times. The market is set to expand from $2.46 billion in 2024 to $2.86 billion in 2025, with a compound annual growth rate (CAGR) of 16.4%.
The growth observed in the historic period can be accredited to factors such as demand for automated and efficient workflows, requirements for business continuity and disaster recovery, an increase in data volume and complexity, accessibility and availability of data, and integration with hybrid IT environments.
How Will the Cloud MFT Managed File Transfer Services Market?
The cloud mft managed file transfer services market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for cloud MFT (managed file transfer) services is predicted to experience swift expansion, reaching $5.4 billion by 2029 with a compound annual growth rate (CAGR) of 17.2%.
The predicted growth during this period could be due to factors such as cost effectiveness, reduction in overheads, specific compliance requirements in different industries, business durability, disaster recovery and workflow efficiency. Rising data volumes and complexities are also contributing to this growth. Key trends anticipated during this forecast period involve a surge in demand for instantaneous data transfer, an increased focus on user experience, a rise in remote collaboration, and integration with pioneering technologies.
Which Factors Are Boosting Growth In The Cloud MFT Managed File Transfer Services Market?
The surge in cyber-attack incidents is anticipated to fuel the expansion of the cloud-managed file transfer (MFT) services market. Cyber-attacks involve purposeful, malicious operations by individuals or collectives aimed at undermining or gaining unauthorized entry to computer systems, networks, gadgets, or data. Cloud MFT services counter these threats with measures such as encryption, access regulation, and security checks to deter data breaches and unauthorized access. For example, according to the ASD Cyber Threat Report released by the Australian Signals Directorate, a federal agency based in Australia, in November 2023, there were close to 94,000 cybercrime reports filed by ReportCyber in the 2022-23 fiscal year, marking a 23% growth from the preceding year. This averages to one report being filed every six minutes. Consequently, the rise in cyber-attack incidents is triggering the growth of the cloud-managed file transfer (MFT) services market.
Cloud MFT (Managed File Transfer) Services Market Driver: Cloud MFT(Managed File Transfer) Services Market
What Key Areas Define The Segmentation Of The Global Cloud MFT Managed File Transfer Services Market?
The cloud MFT (managed file transfer) services market covered in this report is segmented –
1) By Type: Public, Private, Hybrid
2) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
3) By End Use: Government, Banking Financial Services And Insurance (BFSI), Retail, Manufacturing, Energy Utility, Information Technology (IT) And Telecommunication, Other End Users
Subsegments:
1) By Public: Public Cloud File Transfer Services, Multi-Tenant Public Cloud Solutions
2) By Private: Dedicated Private Cloud File Transfer Services, Single-Tenant Private Cloud Solutions
3) By Hybrid: Hybrid Cloud File Transfer Solutions, Multi-Cloud Integration Services
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What Emerging Trends Are Influencing The Growth Of The Cloud MFT Managed File Transfer Services Market?
Key market competitors are enhancing their managed file transfer system offerings by introducing upgraded beneficial features. These improvements focus on adding modern elements, rectifying issues, and amplifying performance. For instance, Coviant Software, a U.S.-based managed file transfer solution provider, announced the launch of the Diplomat MFT v9.1 in June 2022. This upgrade to their platform comes with added advantages, including data replication, simultaneous file transfers to many locations, and file synchronization. This revamped solution caters to customers requiring efficient file replication, like site content, for convenient distribution to sanctioned web farms and throughout data centers.
Who Are the Key Players In The Cloud MFT Managed File Transfer Services Market?
Major companies operating in the cloud managed file transfer services market report are:
• Amazon Web Services Inc.
• The International Business Machines Corporation
• Oracle Corporation
• Microsoft Azure
• Broadcom Inc.
• Wipro Ltd.
• Lumen Technologies Inc.
• CA Technologies Limited
• Citrix ShareFile is Citrix Systems Inc.
• Rackspace Technology Inc.
• Tibco Software Inc.
• Software AG
• DigitalOcean Holdings Inc.
• Virtustream
• Saison Information System Co. Ltd.
• Attunity
• Open Text Corporation
• Axway Software
• Accellion Inc.
• South River Technologies Inc.
• Biscom Inc.
• Signiant Inc.
• Linoma Software
• Hightail
• Coviant Software LLC
• FileCatalyst
What Is The Most Dominant Region In The Cloud MFT Managed File Transfer Services Market?
North America was the largest region in the cloud-managed file transfer (MFT) services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud mft (managed file transfer) services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
