The global secure file transfer market size to cross USD 3 billion by 2025, growing at a CAGR of 10% during the forecast period.
CHICAGO, ILLINOIS, UNITED STATES, December 15, 2020 /EINPresswire.com/ — In-depth analysis and data-driven insights on the impact of COVID-19 included in this global secure file transfer market report.
The global secure file transfer market is expected to grow at a CAGR of approximately 10% during the period 2019−2025.
Key Highlights Offered in the Report:
1. In 2020, COVID-19 has been a major catalyst for around 32% growth in secure file transfer solutions.
2. Over USD 1 billion will be the cumulative revenue opportunity for secure file transfer service providers during 2020-2025.
3. SME adoption of secure file transfer grew by about 50% in 2020, whereas large enterprise growth was around 20%, mainly driven by the COVID-19 pandemic.
4. Cloud-based file transfer solutions will bring-in revenue opportunities of over USD 500 million during 2020-2025, where the pandemic contributed to around 60% growth in 2020.
5. In 2020, the market growth across all industry sectors was about 15%-40%, with significant growth witnessed across healthcare, government, and education sectors in 2020.
6. The secure file transfer market is yet to mature among SMEs in developing countries, where digitalization and adoption of enterprise sync and share solutions will play a vital growth.
• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by deployment model, enterprises, end-user, and geography
• Competitive Landscape – 9 key vendors and 32 other vendors
Secure File Transfer Market – Segmentation
• The hybrid deployment model market is expected to reach $1.26 billion by 2025. The increasing use of SaaS applications in the enterprise environment is likely to make hybrid solutions easily integrated and quickly deployable. The shift from on-premises service providers to hybrid services is a major driver, contributing to the growth of hybrid solutions.
• The increase in data volumes prompts small and medium enterprises (SME) to adopt secure file transfer protocols with added security and integration features. Secure file services are likely to continue their dominance due to the growth of SMEs operating in the retail, logistics, entertainment, real estate, and IT sectors.
• Healthcare, BFSI, legal services, retail, media, and entertainment end-users are likely to emerge as the major contributors to the market by 2025. The increased operational expenditure and initiatives toward the green environment are aiding the secure file transfer market’s growth.
Secure File Transfer Market by Deployment Model
Secure File Transfer Market by Enterprises
• Small and Medium
Secure File Transfer Market by End-users
• Banking, Financial Services and Insurance (BFSI)
• Retail, Media, and Entertainment
• Manufacturing, Transportation, and Logistics
Secure File Transfer Market – Dynamics
Cloud computing has been a strong force behind organizations’ digital workplace initiatives. Among these, there are enterprises that are involved in using complete cloud-based solutions or creating hybrid platforms for operations. These systems and platforms are popular, especially in organizations that allow remote working access. Several financial and healthcare customers operate their own private cloud environments, with applications hosted in their own data centers. The secure file transfer market is dominated by major cloud providers such as Microsoft, Google, AWS, Citrix, and IBM. Vendors are involved in providing cloud-based secure file transfer services in partnership with these cloud-based hosting providers. In addition, most enterprise content management systems are offered as a cloud-based Software-as-a-Service (SaaS) solution, which is integrated with secure file transfer solutions.
Key Drivers and Trends fueling Market Growth:
• Growth in Data Volumes
• Automation & End-to-End Monitoring of File Transfer
• Digitalization of Business Environment
• COVID-19 Spikes Demand for SFT Solutions
Secure File Transfer Market – Geography
In North America, many customers use FTP servers to transfer less-critical business data. However, many SMEs are signing up for cloud-based secure file transfer solutions and hybrid file transfer solutions due to security restrictions, increased business data processing needs, mobility enablement, and compliance requirement. The market is also growing due to the rise in cloud-based communication and collaboration platforms. Large enterprises in the region are the major contributors to the growth of secure file transfer solutions. The growth in data will necessitate automation of file transfer solutions among SMEs. Several enterprise content management software providers and cloud-based collaboration providers are also integrating secure file transfer solutions with their offerings.
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Secure File Transfer Market by Geography
• North America
• Rest of the World
• Saison Information Systems (HULFT)
Other Prominent Vendors
• ArcESB International
• Amazon Web Services
• Befine Solutions (Cryptshare)
• Coviant Software
• Egress Software Technologies
• HelpSystems (GOANYWHERE)
• Open Text
• South River Technologies
• Thru Inc.
• Vandyke Software
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