The North America Managed File Transfer Market would witness market growth of 8.8% CAGR during the forecast period (2023-2030).
Managed file transfer, also known as MFT, is a platform allowing businesses to securely and compliantly move digital data between persons and different types of systems. It offers transfer prioritization, scheduling, file encryption, and embedded FTP servers, as well as the design, deployment, and monitoring of file transfers utilizing a lightweight web-based design-time console. As the cloud has grown in popularity, MFT has gained new significance as it adapts and develops to move substantial amounts of Big Data and conventional corporate files from, to, and across clouds.
MFT is frequently regarded as a quicker and more transparent way to move large amounts of data inside a company or between several separate ones. As a result, enterprises are encouraged to embrace MFT solutions to securely transfer and share various data types to factors like rising cyberattacks and compliance demand. For example, the International Trade Administration (ITA) stated that over 2,000 attacks against the federal government and its critical infrastructure partners were addressed by Canada's digital spy agency, the Communications Security Establishment (CSE), in 2020.
A new era of hybrid IT management systems that integrate private cloud, public cloud, and traditional IT is being ushered in by businesses across North America. Many companies have adopted a hybrid cloud strategy because it helps them run their businesses and provide services to clients more effectively. Additionally, many government organizations in the region use MFT solutions as well. For example, MFT is used by the U.S. Census Bureau. Moreover, the increasing adoption of BYOD in this region due to the increased use of electronic devices has compelled businesses to use cloud MFT services to cater to their employees' needs. Hence, as these trends proceed in the region, the demand for secure file transfer systems will increase, propelling the market's growth.
The US market dominated the North America Managed File Transfer Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $860.7 million by 2030. The Canada market is poised to grow at a CAGR of 11.2% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 10.3% 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 U.S., Mexico, Canada, and Rest of North America.
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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