Cloud MFT (Managed File Transfer) Services Market Overview - Share Analysis, Future Trends And Industry Analysis 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Cloud MFT (Managed File Transfer) Services Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The cloud mft (managed file transfer) services market size has grown rapidly in recent years. It will grow from $2.11 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to demand for automation and streamlined workflows, business continuity and disaster recovery, rise in data volume and complexity, data accessibility and availability, integration with hybrid it environments.

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The cloud mft (managed file transfer) services market size is expected to see rapid growth in the next few years. It will grow to $4.56 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to cost optimization and reduced overheads, industry-specific compliance requirements, business continuity and disaster recovery, automation and workflow efficiency, rising data volumes and complexity.. Major trends in the forecast period include demand for real-time data transfer, focus on user experience, rise in remote collaboration, integration with advanced technologies..

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Key Market Players:

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 are prominent players in the industry.

Market Drivers:

The increasing incidents of cyber-attacks are expected to propel the growth of the cloud-managed file transfer (MFT) services market going forward. Cyber-attacks refer to malicious and deliberate actions by individuals or groups intending to compromise, damage, or gain unauthorized access to computer systems, networks, devices, or data. Cloud MFT services mitigate these threats with features like encryption, access control, and security audits to prevent data breaches and unauthorized access. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based government agency, the number of cybercrime reports received in 2021-2022 was 76,000, an increase of nearly 13% from the 2020-2021 financial year. Therefore, the increasing incidents of cyber-attacks are driving the growth of the cloud-managed file transfer (MFT) services market.

Market Segments Include:

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

The report answers the following questions:

What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?

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