Managed File Transfer (MFT) Software and Service Market, 2015 to 2025
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Managed File Transfer (MFT) Software and Service Market is Expected to be Valued at US$ 2,071.94 Mn by 2025: Persistence Market Research
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Managed File Transfer (MFT) Software and Service Market, 2015 to 2025 Persistence Market Research Released New Market Report According to a new market report published by Persistence Market Research “Global Market Study on Managed File Transfer (MFT) Software and Service: Driven by Advanced Features over FTP (Traditional File Transfer Protocol)� the MFT software and service market is estimated to be valued at US$ 1157.18 Mn by the end of 2015 and is anticipated to expand at a CAGR of 6.0% from 2015 to 2025, to account for US$ 2,071.94 Mn by 2025.
Managed file transfer (MFT) is a service or software that is utilized for managing secure data transfer from a computer to another computer via a network such as the internet. Managed file transfer software is marketed to software enterprises as a substitute to the ad-hoc file transfer solutions including HTTP, FTP, and others. This is because MFT presents a greater level of control and security as compared to FTP. In a business environment, activities of file transfer take place during the majority of the day. A number of times, these transfers are accompanied with high-volume file transfers with extremely large files along with systems and users spread across a wide geographic area. Hence, the MFT services availed by enterprises are very fast for sharing even huge volumes of data across all key open platforms. The file transfer platform servers utilized for MFT comprise a wide range of authentication and security options and no file may enter or leave without the approval of the server for carrying out the transmission. The file transfer platform servers can also automate the whole process of receiving and sending files.
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Technology Advancement to Propel MFT Service Market The increasing demand for a digital supply chain has resulted in enhanced security due to increase in data volume. This is the reason why big enterprises have adopted MFT solutions and services. This factor will boost the growth prospects of the MFT service market in the coming years. Additionally, the rise of advanced technology has also fuelled the MFT service market. On the other hand, the absence of awareness amongst end users particularly, in emerging regions such as Latin America and APEJ, may impede the growth of the managed file transfer service market in the coming years. Auditability and End-to-End- Security of MFT Service to Boost MFT Service Market
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Managed File Transfer (MFT) Software and Service Market, 2015 to 2025 MFT is used across a number of verticals such as the retail sector, the government sector, the manufacturing sector, the energy utility sector, banking, media and the entertainment sector, the telecommunication sector, and the financial service and insurance (BFSI) sector. MFT comprises a number of features such as non-repudiation, reporting, auditability, automation of file transfer-related activities and processes, global visibility, performance metrics/monitoring, and end-to-end security. MFT applications can be availed on both software-as-a-service (SaaS) and on-premises licensed software packages. A number of these applications are made for enterprise use and others are made to be sold to individual consumers.
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North America Emerges as the Biggest MFT Service Market On the basis of geography, the MFT service market is segmented into Latin America, North America, Western Europe, Japan, Eastern Europe, the Middle East and Africa (MEA), and Asia Pacific Excluding Japan (APEJ). Amongst these regions, North America is currently dominating the market for MFT services and is trailed by Western Europe. On the other hand, APEJ is predicted to bring in big opportunities for major players operating in the MFT service market in the forthcoming future. Saison Information System Co. Ltd., IBM Corp., Axway Inc., CA Technology Inc., Accellion Inc., Oracle Corp., and Software AG, among others, are the prime players dominant in the market.
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Market History: The global Managed File Transfer (MFT) software and service market have been witnessing significant growth over the years, due to the rise in the number of online banking customers over the decade in the developed regions such as North America and Western Europe. As a result, the danger of cyber-attack is also increasing, due to which adoption of MFT solution by banks and financial institutions is increasing. The advantages and advanced features of MFT over FTP are driving the growth of the global MFT market further.
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Managed File Transfer (MFT) Software and Service Market, 2015 to 2025
In terms of value, the global MFT software and service market is anticipated to expand at a CAGR of 6.0% during the forecast period (2015-2025) to reach US$ 2071.94 Mn by 2025. The global MFT software and service market was valued at US$ 1092.06 Mn in 2014.
On the basis of software, the global MFT software and service market is sub-segmented into system-centric, people-centric, and extreme file transfer. The system-centric file transfer sub-segment is estimated to account for 71.5% revenue share of the market by 2025 end.
On the basis of service, the global MFT software and service market is sub-segmented into implementation & integration, consulting, and maintenance. The maintenance sub-segment is estimated to account for the highest revenue share of the market by 2025 end.
The global MFT software and service market is sub-segmented on the basis of verticals into Banking, Financial Service & Insurance (BFSI), media & entertainment, retail, manufacturing, telecommunication, and others (government, energy & utility, and marketing & advertising). Currently, demand for MFT software and services in the banking, financial service & insurance sub-segment is significantly high as compared to other sub-segments of the vertical segment. This sub-segment is estimated to account for 21.50% value share of the overall vertical segment by the end of 2025.
On the basis of regions, the global MFT software and service market is sub-segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific Excluding Japan (APEJ), and Japan. By 2025 end, North America is estimated to dominate the market, accounting for around 50% value share of the global market, followed by Western Europe and APEJ.
This report on the global MFT software and service market profiles some of the key players, including The Axway Inc., IBM Corporation, Oracle Corporation, Software AG, CA Technologies Inc., GlobalSCAPE Inc., Wipro Limited, SWIFT, Micro Focus (Attachmate), and Signiant Inc.
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Managed File Transfer (MFT) Software and Service Market, 2015 to 2025
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