The Asia Pacific Managed File Transfer Market would witness market growth of 11.1% CAGR during the forecast period (2023-2030).
In the modern era, information is regarded as one of the most significant assets, making data transfer from B2B or safely preserving data important. However, a business can securely share files or information using MFT software. It has no limitations on file value, size, or kind. Compared to the conventional file transfer approach, MFT is preferred by the company and is crucial for data transfer. Furthermore, as data traffic increases and vulnerabilities to malware and hacking increase, the risk is greatly reduced by managed file transfer software. Due to increased information sharing and the merger of diverse businesses, government institutions and IT and telecommunications organizations are among the rising end-users in the market.
In addition to this enormous volume of data, advancements in artificial intelligence, data analytics, and Internet of Things (IoT) gadgets are key drivers of industry growth. The bring-your-own-device (BYOD) trend, which is on the rise and has a favorable impact on the market growth, is another factor contributing to the market's expansion. IoT is the leading emerging technology in terms of market revenue. The World Bank reported that the strength of major economies like China likely drove up economic growth in 2021 to 5.6%. This strengthened the globalization trends in such growing nations.
India is undergoing a tremendous digital transformation as more businesses employ digital technologies to streamline operations and automate business processes. These technologies can be integrated with MFT solutions, offering a fast and secure means of transferring data across different systems. Moreover, with numerous online marketplaces and systems that enable online transactions, India has a sizable and quickly expanding e-commerce business. As a result, the estimated growth rate for Indian e-commerce from $46.2 billion in 2020 to $136.47 billion in 2026 is 18.29 percent. These platforms call for a quick and secure method of data transfer between customers, vendors, and service providers, opening doors for MFT solutions. Therefore, the region presents lucrative growth prospects for the market.
The China market dominated the Asia Pacific Managed File Transfer Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $298.1 million by 2030. The Japan market is estimated to grow at a CAGR of 10.3% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 11.8% during (2023 - 2030).
Based on Component, the market is segmented into Solution (Application-centric, People-centric and Ad-hoc) and Services. Based on Deployment Mode, the market is segmented into On-premises and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into BFSI, IT & Telecom, Retail, Media & Entertainment, Government & Public Sector, Manufacturing, Healthcare & Life Sciences and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Managed File Transfer Market is Projected to reach USD 3.6 Billion by 2030, at a CAGR of 10.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Broadcom, Inc., IBM Corporation, Oracle Corporation, OpenText Corporation, Wipro Limited, Software AG, Axway Software SA, Ipswitch, Inc. (Progress Software Corporation), GlobalScape, Inc. (Fortra, LLC) and Signiant, Inc.
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By Deployment Mode
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