Managed File Transfer Market Analysis

Managed File Transfer Market Analysis

In the U.S., the people-centric/ad-hoc solution segment is expected to witness 10% growth rate through 2026 led by the rising adoption of managed file transfer across retail and manufacturing industries to support collaborating in various business processes across multiple geographic locations. People-centric managed file transfer is also fueling case management processes across various industries such as social service cases and legal actions. It also helps enterprises to control and mitigate human errors during file transfers. Also, due to the COVID-19 pandemic situation, the need for secure data transfer over people-centric models is increasing to ensure protection of data from hackers and evolving cyber threats.

In the Netherlands, the cloud deployment model in the managed file transfer market is estimated to attain a CAGR of 15% till 2026 impelled by the benefits, such as reduced infrastructure & maintenance cost and scalability, offered by cloud-based managed file transfer solutions. The increasing usage of cloud computing technology across enterprises in the country is also supporting the industry growth.

In China, large enterprises dominated more than 60% of the market share in 2019 due to the growing industry demand to transfer sensitive data across enterprise branches located at different locations. Managed file transfer solutions enable large enterprises to securely transfer critical data for business processes across different office locations. Growing cybersecurity risks to sensitive business data will support the demand for managed file transfer solutions across large enterprises. Large enterprises are using different cloud-based file transfer solutions to gain more control over file transfers.

In Brazil, the BFSI segment is poised to expand at more than 15% CAGR by 2026 owing to the growing demand for a reliable and secure exchange of financial information. Banking and other financial institutions need a high level of cybersecurity while transferring sensitive financial information. The growing need to comply with different security regulations on financial information will stimulate the market progression for managed file transfer solutions across the BFSI sector.

North America managed file transfer market captured over 35% of revenue share in 2019 on account of the growing demand for data governance and security in the region. Rising data breach incidents while transfer of sensitive data is enabling companies to deploy advanced file transfer solutions. Government authorities in the region are mandating standards & regulations that an enterprise needs to follow to ensure protection of customer data. Managed file transfer solutions support different regulations and make it easy for smaller businesses with lesser resources to operate in the market.