As per the IndustryARC market research report, the managed file transfer software market size was observed at $4.79 billion as of 2018 incrementing at a CAGR of 6.31% during the forecast period 2018-2023. Analyst advocates that the managed file transfer software market size is expected to reach $6.46 billion by 2023.The report is titled “ [FURL=https://www.industryarc.com/PressRelease/1512/Managed-File-Transfer-Software-Market-Research.html]Managed File Transfer Software Market[/FURL] : By Application (Banking, Financial Services & Insurance (BFSI), Media & Entertainment, Retail, Manufacturing, and Others); By Type (System-Centric File Transfer, People-Centric File Transfer, and Extreme File Transfer) & By Geography - Forecast (2018-2023).”
Managed File Transfer Software Market: Geographical Analysis & Leading Segments
By geography, North America is the most rewarding region in the global managed file transfer software market. The region harnessed revenues worth $451m till 2017 and is projected to reach $727m by 2023 growing at a CAGR of 8.27% through the forecast period. The United States is the leading country generating worth $344m in 2017. The regional dominance of the country is projected to hold its ground, reaching the market value of $574m by the year 2023 rising at a CAGR of 8.92% during the forecast period.
Among end-user industries, the banking, financial service and insurance (BFSI) is the most fruitful segment in the global managed file transfer software market. The vertical generated revenues worth $130m in 2017. As per the analysts, the banking, financial service, and insurance are estimated to add $236m to the total managed file transfer software market by the year 2023 incrementing at a CAGR of 10.44% during the forecast period 2018-2023.
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Managed File Transfer Software Market Trends and Growth Drivers
Widespread adoption of cloud computing technologies for managing file systems is responsible for the rapid growth in the global managed file transfer software market.
Data is being termed as fuel in the 21st century, According to Forbes, 2.5 quintillion bytes of data is generated every day. 90% of the total data in the world has been produced in the last two years, this is a result of the Internet. Moreover, the emerging concept of the Internet of Things is one of the primary drivers for data vaults. As per a report from Intel, the number of smart IoT enabled devices is estimated to explode from 2 billion devices in 2006 to 200 billion by 2020.
Managed File Transfer Software Market: Competitive Landscape
Some of the major key players involved in the managed file transfer software market intelligence report that are influencing the competitive landscape are Axway (U.S.), Saison Information Systems Co., Ltd. (Japan), Hightail, Inc. (U.S.), and CA Technologies (U.S.).
About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.