Secure File Transfer Market Likely to be Worth $1.6 billion by 2023

The global secure file transfer market is projected to grow from $1.1 billion in 2017 to $1.6 billion by 2023, growing at a CAGR of 5.21%.

Arizton’s recent market research report on the global secure file transfer market segments the market by deployment model (on-premise solutions, cloud-based solutions, and hybrid solutions), by end-user type (SMEs and large enterprises), by industry sector (BFSI, healthcare, legal, retail, media, and entertainment, engineering and manufacturing, and others), and by geography (APAC, North America and South America, and EMEA).

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The leading three drivers and trends of the global secure file transfer market are discussed below:

Digitalization of enterprises business environment

The integration of technology with business operations to cater to dynamic consumer needs will drive the global secure file transfer market. Digital transformation is becoming a cornerstone for the introduction of innovative technology that is helping organizations to launch new products and services in the market. The introduction of cloud-computing is initiating collaborations of business operations through the internet and the initiation of new technologies such as big data and IoT. Recent market studies show that more than 95% of the business uses innovative technologies to improve collaboration with team partners and customers. Digitization of business operations will drive the demand for secure file transfer solutions in the global market during the forecast period.

Increased need for secured file transfer solution

The use of multiple systems and technologies in daily business operations is boosting the need for secure file transfer solutions. The vendors in the global market are identifying solutions that ensure file transfers with flexibility, integrity, and confidentiality. Digitalization is promoting the introduction of software products that protect confidentiality and integrity of the file transfer through secure transport protocols, namely, Secure File Transfer Protocol (SFTP). These solutions transfer links and provide access to end-users through passwords or SMS. The incorporation of these secure file transfer solutions will protect companies from cyber-attacks and other data thefts.

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Increased adoption of cloud-based collaboration platforms

Several large enterprises and other SMEs are adopting cloud-based solutions and hybrid solutions to increase their data security and reduce operational costs. The introduction of cloud-based communication and collaboration platforms will offer enterprises the benefits access to files for remote workers through desktop or smartphones.

The cloud-based collaboration software market is expected to grow at a CAGR of around 10% during the forecast period.

Leading vendors such as Microsoft, Google, Citrix, and IBM are offering cloud-based secure file transfer services in partnership with AWS and other cloud-based hosting providers.

Accellion, Axway, Box, Citrix, Egnyte, Globalscape, Saison Information Systems (HULFT), IBM, and IPSWITCH are the leading vendors in the global secure file transfer market.

The complete overview of the latest market research report on global secure file transfer market by Arizton is now available.

The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.

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