Cloud MFT (Managed File Transfer) Services Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Cloud MFT (Managed File Transfer) Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Cloud MFT (Managed File Transfer) Services Global Market Report 2024, 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..

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..

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.

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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

Major players operating in the market are developing managed file transfer system that features additional benefits for their users. This development improve its functionality by adding new features, fixing bugs, and improving performance. For Instance, in June 2022, Coviant Software, a US-based provider of managed file transfer solutions has launched the Diplomat MFT v9.1. It is an update to its platform with various additional benefits such as data replication, file synchronization, and support for simultaneous file transfers to multiple destinations. This solution is therefore useful for customers who need to replicate files, including site content, for distribution to authorized web farms and throughout data centers with ease.

The cloud mft (managed file transfer) services market report table of contents includes:

 

1. Executive Summary
2. Cloud Managed File Transfer (MFT) Services Market Characteristics
3. Cloud Managed File Transfer (MFT) Services Market Trends And Strategies
4. Cloud Managed File Transfer (MFT) Services Market – Macro Economic Scenario
5. Global Cloud Managed File Transfer (MFT) Services Market Size and Growth

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32. Global Cloud Managed File Transfer (MFT) Services Market Competitive Benchmarking
33. Global Cloud Managed File Transfer (MFT) Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cloud Managed File Transfer (MFT) Services Market
35. Cloud Managed File Transfer (MFT) Services Market Future Outlook and Potential Analysis
36. Appendix

Top Major Players:

• Amazon Web Services Inc
• Oracle Corporation
• Microsoft Azure
• Broadcom Inc
• Wipro Ltd

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