The Cloud MFT Services Market size is estimated at USD 2.04 billion in 2024, and is expected to reach USD 3.22 billion by 2029, growing at a CAGR of 9.59% during the forecast period (2024-2029).
Various factors, such as globalization, virtualization, and digitalization, are creating a huge volume of business data that needs to be exchanged or shared within or outside an organization, which is driving the market forward.
The cloud MFT services market is semi-consolidated, with the major players adopting strategies, like product and technological innovations and mergers and acquisitions, to stay ahead of the competition. Some of the key players in the market are IBM Corporation, CA Technologies, Inc., and Oracle Corporation, among others.
In May 2023, IBM Corporation has Announced Launch of IBM Hybrid Cloud Mesh inorder to help the Enterprises Regain Control of their Multicloud Infrastructure, where In order to enable modern enterprises to operate their infrastructure through hybrid multicloud and heterogeneous environments, the Hybrid Cloud system is designed for automation of processes, management and observability in application connectivity across public and private clouds.
In September 2022, Numerous new features and integrations will be included in Control-M 21 that will reinforce an organization's orchestration architecture, boost operational effectiveness, and enhance internal customer self-service and collaboration.
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