The Latin America, Middle East and Africa Managed File Transfer Market would witness market growth of 15.8% CAGR during the forecast period (2023-2030).
One of the primary factors propelling the growth of the managed file transfer market is the rising demand for governance and data security on an international basis. In addition, the market is growing due to increased demand for the technology brought on by several features, including built-in interfaces, enhanced managed folder capabilities, corporate applications, modular design, and widespread technology adoption for cost- and performance-saving purposes.
The market is also influenced by the growing degree to which the solution is integrated into IT workflows and enterprise business processes, as well as by organizations' use of the solution to address issues with security compliance and governance related to information sharing. In addition, the development in workplace digitization, affordable managed file transfer software availability, and the rising need for high-performance MFT solutions all favorably impact the market. Increasing regulatory laws, a need for data security due to an expansion in the consumer base, and dangers of cyberattacks or hacking in the current environment are additional factors driving the development of controlled file transfer software.
In Saudi Arabia, regulations governing personal data protection apply to GOV.SA's privacy policies and practices. The Personal Data Protection Law, as well as its implementing regulations, provide the framework for the protection of rights regarding the processing of personal data by all Kingdom entities as well as by all entities outside the Kingdom using any method, including online data processing. Furthermore, in accordance with the guidelines set forth by the National Cybersecurity Authority and other pertinent authorities, data security entails preventing personal data from damage, loss, theft, leakage, misuse, unauthorized access, or modification. Hence, all these elements have expedited the adoption of MFT solutions across various regional sectors, driving the market's expansion.
The Brazil market dominated the LAMEA Managed File Transfer Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $88.9 million by 2030. The Argentina market is exhibiting a CAGR of 16.5% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 15.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
By Component
By Deployment Mode
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