COVID-19 is likely to make significant impact in the adoption of managed file transfer and is anticipated to witness growth during the forecast period

Introduction

The managed file transfer market is emerging market and is presumed to grow during the forecast period. The global innovative management market was valued USD 1.0 billion in 2019 and is presumed to reach USD 1.5 billion by 2029 growing at a CAGR 11.1%. The growth is attributed to surge in cyber-attack globally. Furthermore increasing internet penetration across the globe is also one of the factors propelling the market growth. Moreover increasing process of digitization among the enterprises adds to the growth managed file transfer market. However, an issue related to scalability of managed file transfer hinders the market growth.

Key Highlights

• The solution segment dominates the managed file transfer market  
• The cloud segment holds the highest market share as it aids in reducing maintenance and infrastructure costs 
• The large enterprise segment holds the highest market share on account of the growing need for security for the transfer of sensitive files among the enterprises located at different locations
• The BFSI segment’s growth can be attributed to the surging adoption of digitization, requiring high security to transfer sensitive information
• North America leads the managed file transfer market as the region is backed by the presence of giant IT companies offering managed file transfer solutions, such as IBM Corporation
• Asia-Pacific is the fastest-growing region in the managed file transfer market on account of increasing investment of the enterprises in digitization and growing threat of cyber-attacks in developing economies, such as India and China

Competitive Players

1. Accellion, Inc. 
2. Axway, Inc. 
3. Biscom, Inc. 
4. Cleo Communications, Inc. 
5. GlobalSCAPE, Inc. 
6. JSCAPE LLC 
7. Open text Corporation 
8. Oracle Corporation 
9. Progress Software Corporation 
10. QlikTech International AB (Attunity Ltd.) 
11. Safe-T Group Ltd 
12. Saison Information Systems Co., Ltd. 
13. Seeburger AG 
14. Signiant, Inc. 
15. Software AG 
16. South River Technologies, Inc. 
17. Tibco Software, Inc.
18. Wipro Limited

Recent Developments

• January 2024- An exploit was made public to exploit a critical managed file transfer (MFT) and authentication circumvent vulnerability in the Fortra GoAnywhere MFT software. The susceptibility enables malicious actors to generate fresh administrative users on unpatched instances through the administration portal. With the release of GoAnywhere MFT 7.4.1, Fortra patched the vulnerability invisibly.

Segmentation

1. By Type    
   
   1. Solution
      
      1. Application-centric
      2. People-centric
      3. Ad-hoc
   2. Services
      
      1. Consulting and system integration
      2. Support and maintenance
2. By Deployment
   
   1. Cloud
   2. On-premise
3. By Organization Size
   
   1. SMEs
   2. Large enterprise
4. By Application
   
   1. IT and telecom
   2. BFSI
   3. Healthcare
   4. Retail
   5. Manufacturing
   6. Chemical