According to a research report titled ‘Global Managed File Transfer Market Size study, by Solution (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 Market Study Report, global managed file transfer market was valued at USD 1.6 billion in 2020 and is projected to touch USD 3.12 billion by the end of the forecast period 2021-2027, garnering a compound annual growth rate of 10% throughout.
 

Report findings state that the increasing adoption of cloud solutions for secure transfer and sharing of data is driving worldwide managed file transfer (MFT) market growth.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3862690/
 

Furthermore, heavy investments in resource management & industry collaboration groups by MFT providers to accelerate the innovation & launch of new products is enhancing the overall market development. For instance, amid the COVID-19 pandemic in February 2021, Tata Power Delhi Distribution Ltd. and OpenText Corp. collaborated to facilitate remote working environments and empower consumers.
 

Besides, steady increase in data integration based on sustainable file transfer solutions is also unlocking new opportunities available in global managed file transfer market space.
 

For the unversed, managed file transfer is a technology system that offers data transfer precautions, automation capabilities, and support for security protocols such as SFTP, HTTPS, and FTPS. It also assists organizations in eliminating compliance, security, and governance flaws associated with both internal and external exchange of information.
 

Despite the positive outlook of the business landscape, stiff competition such as server logs & share service providers, coupled with involvement of third-party dealers are likely to restrain global managed file transfer market growth in the forthcoming years.
 

On the regional front, North American industry is expected to register a substantial growth rate in the upcoming years owing to mounting demand for MFT across a variety of industries such as telecommunications, BFSI, manufacturing, retail, and wireless communications.
 

Expert analysts report that the value of U.S. managed file transfer solutions industry is expected to be USD 474.6 million in 2021, with the overall spending on MFT solutions growing by 8.2% during 2021-2031.
 

Meanwhile, Asia Pacific market is estimated to grow at a remarkable pace due to the growing presence technology vendors in emerging economies such as India. In fact, the Indian MFT industry valuation is expected to bolster from around USD 66 million in 2020 to USD 339.8 million by 2031.
 

Key contenders in global managed file transfer market sphere are CA Technologies (Broadcom Inc.), OpenText Corp., Signiant Inc., Wipro Ltd., Oracle Corp., Software AG, Micro Focus International plc, International Business Machines Corp. (IBM), Globalscape Inc., and Axway Software SA.