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The secure file transfer market by revenue is expected to grow at a CAGR of approx. 10% during the period 2020-2025.
The global market has majorly been affected by the outbreak of the COVID-19 pandemic. The demand for secure file transfer solutions has increased with the increase in remote working. Organizations in sectors such as IT, healthcare, BFSI, education sectors have increased online-based business operations with employees working from home.
Hence, the increase in remote working has increased the adoption of secure file transfer solutions, which help to prevent data leakages and information breaches. The adoption rate was high among education institutions during Q1 and Q2 2020 owing to the COVID-19 pandemic, resulting in the closure of schools and colleges. Moreover, the incorporation of new technologies such as big data and IoT is expected to drive application of secure file transfer solutions.