According to a recent study from market research firm Global Market Insights, The growing demand for control and security solutions for transferring a large volume of data is driving a global managed file transfer market outlook, in order to eliminate the risk of cyberattacks. These solutions offer the ability to reliably and securely exchange files with business partners, enhances visibility and control over data movements as well as IT infrastructure.
Managed File Transfer Market also supports engagement and communication with any of the industry-standard protocols such as FTPS, FTP, HTTPS, HTTP, SFTP, and AS2. The adoption of the technology is aiding enterprises to improve their productivity with controlled file transfers as per business requirements.
Growing demand for efficient cross-platform data transfer solutions across enterprises along with advanced security against cyberattacks will bolster the adoption of the solutions in the coming years.
Cloud-based solutions are rapidly taken up by major enterprises as they enable multiple files sending across remote locations. Extensive penetration of cloud computing technology is another key factor supporting the adoption of cloud-based managed file transfer solutions in enterprises. Also, small enterprises are also switching to cloud-based infrastructure gradually.
The cloud-based managed file transfer segment is set to grow at 16% CAGR over 2020-2026. Ad-hoc solutions are gaining popularity on account of their capability to manage person-to-person file transfer with less burden on enterprise resources. The solutions feature reactive management technologies for auditing and reporting multiple file transfers.
Besides, the imposition of nationwide lockdowns across countries due to the rapid spread of COVID-19 has compelled numerous organizations to implement work from home and remote working options. This has stimulated the demand for cloud-based managed file transfer solutions.
Apart from this, ad-hoc managed file transfer aids in eliminating the requirement for third-party file transfer software as well as websites sensitive information transfer. The segment is expected to showcase a growth rate of 15% through 2026.
Organizations operating in the healthcare sector are rapidly incorporating managed file transfer solutions to manage and share critical data, like a patient’s medical history or medical device readings. The solutions allow maintaining regulatory compliance for the healthcare sector, including HIPAA (Health Insurance Portability and Accountability Act). Managed file transfer market share from healthcare applications is expected to grow at over 16% CAGR up to 2026.
Large-scale enterprises across India and China are relying on managed file transfer solutions for seamless virtual integration, as well as cost-effective and secure communication. Studies claim that the Asia Pacific managed file transfer market is likely to record a compound annual growth rate of more than 15% by 2026.
BFSI companies across the region are adopting managed file transfer systems to enhance their overall customer experience. For example, Wipro provides the Managed File Transfer-as-a-Service platform built on Microsoft Azure. This platform ensures secure and quicker client onboarding while maintaining the research’s utmost service quality.
Managed File Transfer Market is Major companies across India and China is utilizing file transfer solutions at large-scale for secure, seamless virtual integration and cost-effective communication. Enterprises operating in the BFSI sector in the region are adopting these solutions to improve overall customer experience.
Source: https://www.gminsights.com/industry-analysis/managed-file-transfer-market