DUBLIN, Jan. 30, 2018 /PRNewswire/ --
The "Secure File Transfer Market - Global Outlook and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The global secure file transfer market is expected to cross $1,600 million by 2023, growing at an impressive CAGR of 5.21% during the forecast period 2017-2023.
The complexity of enterprise operational environment and the growing need for additional security to adhere to regulatory compliance are encouraging companies to opt for secure file transfer services. The introduction of cloud computing and increasing number of cyber-attacks is driving the global secure file transfer market. Major enterprises are the largest end-users of secure file transfer solutions.
The development and high growth potential of SMEs in emerging and developing countries is likely to boost the demand for secure file transfer solutions in the global market. Moreover, the incorporation of technologies such as Big Data and IoT will drive the secure file transfer solutions market among large enterprise customers during the forecast period.
The growth in corporate governance and the increase in the number of regulatory compliance are expected to drive the adoption of secure file transfer solutions in the global market. The services offered by vendors include features that aid in management and monitoring of systems as per the policies established by corporate governance.
Secure File Transfer Market - Dynamics
According to recent studies, less than 10% of enterprises are prepared for growing cybersecurity in 2016.
The increasing awareness about security needs for sensitive documents and the introduction of compliance regulations in various industries such as finance and healthcare will drive the demand for secure file transfers. The organizations in these industries are adopting security measures that depend on the business processes to adhere to corporate governance and industry regulations. The incorporation of the private cloud environment ensures secure data transit and offers multi-factor authentication involving protection up to the file level. The vendors in the global secure file transfer market are focusing on innovating their security solutions by including passwords or SMS generated pin to access the files stored on the server. These solutions are designed to protect business organizations from cyber-attacks and data frauds.
Secure File Transfer Market - Segmentation
This market research report includes a detailed segmentation of the market by deployment model, by end-user type, by industry sector, and by geography.
Secure File Transfer Market - By Deployment Model
Hybrid solutions ensure scalability and mobility for large enterprises and SMEs.
The global secure file transfer market is segmented into three major categories: on-premises solutions, cloud-based solutions, and hybrid solutions. The hybrid solutions segment is the fastest growing market segment in the secure file transfer market. This model is a combination of on-premises file transfer solutions that offer high control and scalability from cloud-based file transfer solutions. Hybrid solutions are gaining popularity in the global market due to their benefits such as disaster recovery, automatic failover for file transfers, and flexibility of operations. The introduction of regulatory compliance such as HIPPA, SOX, and GDPR is also expected to drive the growth in this segment.
Secure File Transfer Market - By End-user Type
SMEs to adopt secure file transfer solutions with added security and integration features.
SMEs and large enterprises are the two major end-users in the global secure transfer market. The growth of retail, entertainment, logistics, real estate and IT sectors is increasing the dominance of SMEs in these fields. The increasing volume of data is encouraging vendors to focus on developing innovative security solutions for companies in the SME market segment. The introduction of integrated communication and collaboration platforms is likely to drive the secure file transfers solutions in this market segment.
Secure File Transfer Market - By Industry Sector
Automation and structured portals in the BFSI sector will increase its operational productivity.
The global secure file transfer market is divided into six industry sector, which includes BFSI, healthcare, legal, retail, media, and entertainment, engineering and manufacturing, and others. The rise in cyber-attacks and financial frauds with the rise in complexity in business processes is driving the need for secure file transfers in the BFSI sector. The incorporation of secure file transfer solutions in the BFSI sector will bring up to 50% in their operational cost and speed up the process overcoming connection problems such as bandwidth limitations.
Secure File Transfer Market - By Geography
Large enterprises in North America attribute around 70% of revenues in the region.
The global secure file transfer market has three major geographical segments such as APAC, North America, and EMEA. North America occupied around 47% of the total market share in the global secure transfer file market in 2016. The US and Canada are the largest revenue generators in the secure file transfer market in North America. Factors such as security restrictions, increased operational expenditure, increase in business data processing needs, mobility enablement, and compliance requirement will drive the secure file transfers market in North America during the forecast period.
The global secure file transfer market is highly competitive due to the presence of leading vendors such as Microsoft, Google, IBM, Citrix, and Blackberry. Various players are focusing on improving security, compliance, integration, and ease of use to gain a larger market share and a wide consumer base. Prominent vendors also provide a plug-in to integrate with at least one of the content management systems and e-mail systems such as Outlook, Gmail, and IBM Lotus Notes to increase the usability of these secure file solutions. Companies are aiming to improve and offer innovative security solutions that will protect end-users from cyber-attacks and data thefts.
Key Topics Covered:
1 Research Methodology
2 Research objectives
3 Research process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
5 Report Assumptions & Caveats
6 Market at a Glance
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Digitalization of Enterprises Business Environment
8.1.2 Increased Need for SFT Solutions
8.1.3 Adherence to Regulatory Compliance
8.1.4 Corporate Governance
8.2 Market Growth Restraint
8.2.1 Lack of Awareness
8.2.2 Existence of Insecured and Traditional File Transfer Solutions
8.2.3 Availability of Alternative File Sharing Solutions
8.3 Market Opportunities & Trends
8.3.1 Increased Adoption of Cloud-based Collaboration Platforms
8.3.2 Growth in Data Volumes
8.3.3 End-to-end Monitoring and Automation of file sharing
8.3.4 Increases Awareness about Security Needs for Sensitive Documents
9 Global Secure File Transfer Market
10 Porter's Analysis
11 Secure File Transfer Market BY Deployment Model
11.1 On-premises Secure File Transfer
11.2 Cloud-based Secure File Transfer
11.3 Hybrid Secure File Transfer
12 Global Secure File Transfer Market By End-User Type
12.1 Small and Medium Enterprises (SMes)
12.2 Large Enterprise
13 Secure File Transfer Market By Industry Sector
13.1 Banking, Financial Services, and Insurance (BFSI)
13.2 HealthCare Sector
13.3 Legal Sector
13.4 Retail, Media, and Entertainment Sector
13.5 Engineering and Manufacturing Sector
13.6 Other Sectors
14 Global Secure File Transfer Market By Geography
Key Company Profiles
- Saison Information Systems (HULFT)
Other Prominent Companies
- Befine Solutions AG (CryptShare)
- Coviant Software
- Egress Software Technologies
- HelpSystems (GoAnyWhere)
- HighTail (YouSendit)
- Open Text
- South River Technologies
- THRU INC.
- VanDyke Software
For more information about this report visit https://www.researchandmarkets.com/research/87v3rf/global_secure?w=5
Research and Markets
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SOURCE Research and Markets