Managed File Transfer Market to Reach US$ 2,307.8 Mn by 2026 - TMR

According to a new market report published by Transparency Market Research, the global managed file transfer market was valued at US$ 1,093.5 Mn in 2016 and is expected to expand at a CAGR of 7.9% from 2018 to 2026, reaching US$ 2,307.8 Mn by the end of the forecast period. According to the report, North America was the most significant contributor in terms of revenue to the managed file transfer market in 2016.

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The need for sharing files between multiple companies and systems has become critical for all enterprises. At the same time, file types, size, and volume are increasing at a rapid rate; hence, traditional sharing methods such as email are not very helpful. Moreover, the exchange of large sensitive files, healthcare records, financial reports, etc., has become common in enterprises. This transfer brings high-security risks, especially if using FTP, email, or other insecure transport options. These problems are solved with the help of managed file transfer solutions. Various rules and regulations have emerged in the file transfer market to increase the security and integrity of sensitive data. For instance, Payment Card Industry Data Security Standard (PCI-DSS) for the payment industry, Health Insurance Portability and Accountability Act (HIPAA) for the healthcare industry in the U.S., and EU Data Protection Directive.