Global Managed File Transfer Software Market Overview
The Global Managed File Transfer (MFT) Software market is estimated to surpass $1368.0m by 2022 growing at an estimated rate of 6.67% CAGR during the forecast period 2018 to 2022. Majorly driven by the R&D efforts to develop technologies to ensure the safety and quality of file transfers from one resource to another. Further, growing emphasis on publicity and the growing concern about safety among files is also set to propel the market growth in the future.
Global Managed File Transfer Software Market Outlook
Global MFT Software is used to offer secure internal, external, and ad-hoc data transfers by using a network. Mostly 80% of the business-to-business communication consists of files with lots of information. Hence, it has become important for many companies to transfer their files between them securely and at high speed. MFT plays a major role in this data transfer. Simultaneously, the file type, size, and volume are also increasing extremely and transfer of data using old methods, such as email is no more practical.
MFT software has been developed to overcome the hurdles faced by the traditional methods such as basic FTP. The FTP servers do not have the ability to tackle the growing data volume requirements and do not offer sufficient visibility into the file transfer activity. Several organizations are on the lookout for MFT vendors to meet their regulatory compliance, increase security, and to automate file transfers. Growing information sharing, and collaboration in enterprises and organizations along with increasing MFT use in government institutes, and IT telecommunication organizations are considered as the key factors driving the market of the MFT software.
This report gives an in-depth assessment of the Global MFT Software market by type, application, and geography. The major category of the global MFT software based on application includes Banking, Financial Services & Insurance (BFSI), media & entertainment, retail, manufacturing, and others.
Global Managed File Transfer Software Market Growth Drivers
Continuous innovations in the file transfer technology coupled with automation for better accuracy, safety, quality, cost-effectiveness, and sustainability in their operations is driving the customer interest towards MFT technology. Integration of this software with IOS and Android application is further attracting the attention of customers towards MFT.
Global Managed File Transfer Software Market Challenges
The volume of the files generated is increasing day-by-day. Also the growth of big data, data analytics, IoT devices, and artificial intelligence is compounding the issue.
Global managed file transfer software Market Research Scope
The base year of the study is 2017, with forecast done up to 2022. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Global MFT Software market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of global managed file transfer software market, and their specific applications in different types of software.
Global Managed File Transfer Software Market Report: Industry Coverage
Types of managed file transfer software: System centric file transfer, people centric file transfer, and extreme file transfer
Applications of Global managed file transfer software: Banking & financial services, media & entertainment, retail, manufacturing, and others
The Global MFT Software market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- Americas: The U.S., Canada, Mexico, Brazil, Rest of Americas
- Europe: The U.K., Germany, Italy, France, Russia and Rest of Europe
- APAC: China, India, Japan, Korea, Southeast Asia, Rest of APAC
- Rest of the World (RoW): The Middle East and Africa
Global Managed File Transfer Software Market Key Players Perspective
IBM Corporation, headquartered in the U.S. is one of the largest companies for MFT software. Some of the other key players are Axway (U.S.), Saison Information Systems Co., Ltd. (Japan), Hightail, Inc. (U.S.), and CA Technologies (U.S.)
Global Managed File Transfer Software Market Trends
- Global MFT software is set to grow with the adoption of new technologies in accordance with customer demand. This will in turn increase the growth of the market.
- Technological progress such as introducing innovative methods in file transfer technology along with automation will offer much better accuracy, quality, safety, cost-effectiveness, and sustainability in business operations. This is one of the key factors driving the market of Global Managed File Transfer Software.
- With the development of managed file transfer, the usage and sales of many traditional methods such as FTP, SFTP, FTPS, and many others have declined.
- The integration of iOS and Android applications in this MFT software that is used for data transferring is another factor attracting the customer to use MFT software.
- Cloud-based deployment in this MFT technology is used in many applications such as BFSI, retail, and others. This trend is set propel the growth of the market.