New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Secure File Transfer Global Market Report 2023" - https://www.reportlinker.com/p06479956/?utm_source=GNW
Ltd., Blackberry Ltd., Biscom Inc., and Ipswitch Inc.
The global secure file transfer market is expected to grow from $1.88 billion in 2022 to $2.08 billion in 2023 at a compound annual growth rate (CAGR) of 10.29%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The market is expected to reach $2.97 billion in 2027 at a CAGR of 9.37%.
The secure file transfer market includes revenues earned by entities through encryption, authentication, and data protection services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The secure file transfer data sharing technology refers to the encryption and security measures to safeguard data while it is in transit. It is used to safeguard data during transit through encoding, verification, access restrictions, and auditing while sharing files within or between enterprises.
North America was the largest region in the secure file transfer market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the secure file transfer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of secure file transfer are business-to-business, accelerated transfer, ad hoc and others.A business-to-business (B2B) transaction, usually referred to as a B-to-B transaction, is a type of transaction between businesses.
They are available for small and medium enterprises and large enterprises and are deployed in various models, such as on-premise, cloud-based and hybrid. They are used in various industries such as banking, financial services, and insurance (BFSI), healthcare, manufacturing, logistics, retail, media and entertainment, IT and telecommunications, government, and others.
The growing demand for cloud-based technologies is expected to propel the growth of the secure file transfer market going forward.Cloud-based file transfer solutions can aid secure information transfer by offering encryption, access control, and other security features.
These systems may also include secure file sharing and collaboration features, allowing users to exchange files with others while controlling who has access to them. For instance, in May 2020, according to a survey report published by O’reilly Media Inc., a US-based publishing platform, more than 88% of respondents use cloud infrastructure in some capacity, the study included 1,283 software engineers, technical leaders, and decision-makers from all across the world. Additionally, the report discovered that 21% of organizations host all applications in the cloud. According to the survey, 49% of firms operate applications in conventional, on-premises contexts, 39% utilize a hybrid-cloud option that combines public and private cloud installations, and 54% use various cloud services. Therefore, the growing demand for cloud-based technologies is driving the growth of the secure file transfer market.
Technological innovations are the key trends gaining popularity in the secure file transfer market.Companies operating in the secure file transfer market are adopting new technologies to sustain their position in the market.
For instance, in January 2023, FileCloud, a US-based company that specializes in file sharing, synchronization, and backup solutions, launched zero-trust file-sharing technology.This technology is developed to safeguard data within the environment, Zip file structures and password protection are used to achieve Zero Trust.
The user will be able to specify a Zero Trust password and create a sharing link to a file or folder. The data cannot be accessed without this password, regardless of whether a direct link is supplied or a breach happens.
In February 2023, Redwood Software Inc., a Netherlands-based software development company acquired Cerberus FTP for an undisclosed amount. This acquisition increased Redwood’s leadership by increasing Redwood’s capacity to provide secure file transfer solutions for the trustworthy and legal transfer of crucial business data throughout an enterprise’s technological ecosystem. The acquisition also provided unwavering dedication to customer satisfaction and product innovation. Cerberus FTP is a US-based company focused to meet the demands of customers that want secure file sharing.
The countries covered in the secure file transfer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The secure file transfer market research report is one of a series of new reports that provides secure file transfer market statistics, including secure file transfer industry global market size, regional shares, competitors with a secure file transfer market share, detailed secure file transfer market segments, market trends and opportunities, and any further data you may need to thrive in the secure file transfer industry. This secure file transfer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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