The considerable increase in the number of cyberattacks throughout the world is attributable to the global FTP market expansion
FTP servers are solutions that are used to enable file transfers over the internet. When you download files, the server sends them to your computer. The global file transfer protocol market has grown rapidly in recent years, and it is expected to grow by 1525 USD million at a CAGR of 11% over the projected period.
FTP, or the language used by the internet to execute commands, is used to transmit files across TCP/IP. Owing to the increased frequency of cyberattacks, businesses are adopting file transfer protocols to securely transmit and exchange various sorts of data. File transfer protocol systems to protect sensitive data using integrated encryption techniques such as SSL (Secure Sockets Layer), Open PGP (Pretty Good Privacy), AES (Advanced Encryption Standard), and SSH (Secure Shell).
File transfer protocol is a technological platform that uses different security protocols, such as TTPS, SFTP, and FTPS, as well as automation features, to securely transmit various types of data within and outside of an organization. File transfer protocol assists businesses in complying with various rules and standards such as the HIPAA (Health Insurance Portability and Accountability Act) and the EU GDPR (General Data Protection Regulation).
These strict government data privacy and security requirements will drive market revenue. When compared to traditional file transfer systems, the platform provides advantages such as reporting, visibility, security, logging, and tracking.
People-centric controlled file transmission is also accelerating case management procedures in a variety of industries, including social service cases and court proceedings. It also assists businesses in controlling and mitigating human mistakes during file transfers. In addition to this, as a result of the COVID-19 pandemic, the demand for secure data transfer across people-centric models is growing in order to safeguard data from hackers and developing cyber threats.
FTP has always been a common method of transporting huge files across computers or between desktops and systems. FTP is also a common method for sharing files that are too large for email attachments by uploading them to a neutral location that other systems, apps, or humans may access. The file transfer protocol market for sectors such as BFSI, healthcare, and life sciences is likely to rise significantly in the coming years, owing to the particular issues that these verticals face in terms of information security risks and increased compliance requirements. Likewise, file transfer protocol supports businesses in addressing compliance, security, as well as governance issues connected with internal and external information exchange. Furthermore, possibilities such as the growing trend in cloud-based file transfer protocol and application integration are projected to fuel the market.
Adroit Market Research's report spans the years 2018 to 2028 and includes a wide range of market developments. This research report also includes critical information on growth drivers, roadblocks, and opportunities. The market is expected to increase from 2018 to 2020, with 2020 serving as the base year and forecast years ranging from 2021 to 2028. This research assists report users in evaluating the File transfer protocol market in terms of manufacturing rights and patents, economies of scale, switching costs, capital investments, and the influence of ads, current distribution channels, government restrictions, and consumer preferences.
This condensed data is meant to assist crucial decision-makers in making better judgments. This study also looks at whether new entrants into the File transfer protocol industry should be permitted. Axway Inc., Progress Software Corporation, IBM Corporation, and Saison Information System Co. Ltd are the key service providers in the global file transfer protocol market.
In terms of product type, the cloud-based segment will expand dramatically in the future years. Large organizations are employing cloud-based file transfer protocols to help them disseminate content across several locations. Businesses are embracing cloud-based MTF solutions as a result of the rising adoption of cloud computing technologies. In addition, organizations are transitioning to cloud-based infrastructure, and industry players are developing cloud-based products.
In terms of application, the healthcare segment is likely to develop at the maximum revenue in the coming years. File transfer protocol is used by healthcare institutions to communicate and manage essential data such as patient medical histories and medical device readings.
In terms of geography, the APAC FTP market is predicted to expand at the maximum revenue throughout the forecast period. Major enterprises in China and India employ file transfer protocols for secure, cost-effective communication and seamless virtual integration. Businesses in the region's BFSI industry are using MTF solutions to improve the overall client experience.
Product Type Overview, 2018-2028 (USD Million)
Application Overview, 2018-2028 (USD Million)
- AEC Industry
- Website designers
- Graphic designers and transcription services
- Educational institutions
- Medical industry
Regional Overview, 2018-2028 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
The Middle East and Africa