MFTPaaS Market size is anticipated to witness lucrative growth rate during the forecast period i.e., between 2024-2036. MFTPaaS, or managed file transfer platform-as-a-service provides secure and managed end-to-end data transfer gateway. The growth of the market can be attributed to the increasing adoption of cloud-computing technology, along with the rising need for secure data transfer across the internet. Additionally, the growing adoption of cloud computing, and multi-cloud functioning, is projected to boost the market growth. For instance, cloud computing generated more than USD 390 billion revenue in 2021. Moreover, growing penetration of internet globally, is anticipated to boost the market growth. According to the World Bank Statistics, 56.727% of the global population used internet in 2019; which is estimated to cross 60% by the end of 2021. Moreover, growing technological research and innovation, is estimated to further boost the MFTPaaS market growth.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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Regional Scope |
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The market is bifurcated by installation into on-premise, and cloud-based out of which, the cloud-based segment is anticipated to hold the largest share in the global MFTPaaS market over the forecast period, on account of increasing penetration of cloud computing, and dependence on cloud-based database amongst various end-user industries. Moreover, numerous major companies rely on cloud computing technology to access and transfer the large volumes of data, which is estimated to boost the market growth.
On the basis of end-user, the market is segmented into BFSI, retail, manufacturing, energy & utility, IT & telecommunication, and others. Among these, the BFSI (banking, financial services, and insurance) segment is estimated to gain notable growth over the forecast period, owing to the involvement of large amounts of sensitive data in the BFSI sector, along with increasing demand to ensure safe transfer of the data.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Installation |
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By End-User |
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On the basis of geographical analysis, the global MFTPaaS market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific industry is estimated to account for largest revenue share by 2036, attributed to increasing penetration of technology, such as, cloud computing and IoT, backed by technological advancement in the developing countries. Furthermore, increasing investment in technological development, including cloud services, in the countries, such as, India, and China is expected to boost the market growth. For instance, the revenue share of the cloud service industry in the Asia Pacific region reached around USD 13 billion in 2019, up from USD 7 billion in 2015.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the higher adoption of advanced technologies, and rising BYOP trend in workplaces in countries, such as, Canada, and the United States. Moreover, the presence of major market players in the region, along with availability of advanced technology are projected to fuel the MFTPaaS market growth.
August 21, 2021: Teradata Corporation announced successful adoption of its new Teradata Vantage cloud data analytics platform in the first half on 2021. The platform was launched the previous year.
July 01, 2021: Hewlett Packard Enterprise announced the acquisition of Zerto, a leader in cloud data management, to expand its portfolio in cloud computing technology.
Author Credits: Abhishek Verma
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