As cited by the research report titled ‘Global Managed File Transfer Market Size study, bySolution (Software (System-centric File Transfer, People-centric File Transfer, Extreme File Transfer), Services (Implementation & Integration, Consulting, Support & Maintenance)) by Industry (BFSI, Media & Entertainment, Retail, Manufacturing, Telecommunications, Others) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global managed file transfer market was worth USD 1.6 billion in 2020 and is projected to grow with a CAGR of 10% to accumulate USD 3.12 billion over 2021-2027.
 

Rising adoption of cloud solutions to securely transfer and share data from different sources is a major factor driving global managed file transfer market growth. Moreover, increase in data integration and sustainable file transfer solutions are generating lucrative opportunities in the industry sphere.
 

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For instance, Process Sitefinity 12Progress NEXT's leading digital experience management platform, Sitefinity 12 was released in May 2019. This cloud initiative boosts efficiency and scalability and enables high productivity in the working environment.
 

In addition, recent technological advancements focused at allowing MFT providers to bring products to market more quickly are adding substantial traction to global managed file transfer market development.
 

For the record, managed file transfer (MFT) is a technology that offers standard precautions, support for security protocols like SFTP, HTTPS, and FTPS, and automation capabilities to assist businesses to securely share data from different sources including compliance-protected or responsive data.
 

MFT also helps organizations in eliminating compliance, security, and governance errors related with information exchanging, both internal and external to them.
 

On the downside, competitive rivalry like server logs and shared service providers along with involvement of third-party dealers are hindering market progression over the estimated timeline.
 

Based on solution, global managed file transfer industry is segmented into software and services. Considering end-user spectrum, the marketplace is categorized into BFSI, manufacturing, retail, media & entertainment, telecommunications, and others.
 

Geographically, Asia Pacific, Europe, North America, and Latin America are major contributors to industry valuation. Experts cite that North America is likely to be a major growth hub over the forecast period, owing to increasing demand for managed file transfer across several sectors including telecommunications, BFSI, manufacturing, retail, & wireless communications, as well as presence of notable MFT providers in the region.
 

Meanwhile, Asia Pacific industry is poised to register a remarkable growth rate over 2021-2027, on account of major vendors focusing on emerging economies like India.
 

Prominent players influencing global managed file transfer industry dynamics are CA Technologies (Broadcom Inc.), OpenText Corporation, Signiant Inc., Wipro Limited, Oracle Corporation, Software AG, Micro Focus International plc, International Business Machines Corporation, Globalscape Inc., and Axway Inc.