About the Report
Rising adoption of cloud solution to securely transfer and share various types of data is expected to propel demand for managed file transfer over the coming years. The market is projected to witness significant growth due to factors such as growing need for reliable and cost-effective managed file transfer solutions, rise in digitizing the workspace, increasing demand for high-performance managed file transfer solutions, and rising availability of cost-effective managed file transfer software along with technological advancements.
In this updated study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for managed file transfer solutions. After the unprecedented events of 2020, it has become important to capture the impact of COVID-19 and recalibrate our findings with the actual market scenario. The report tracks global sales of managed file transfer in 20+ high-growth markets, with the regions of East Asia, North America, and Europe leading the way as far as demand is concerned.
How Historical and Future Market Outlook for Managed File Transfer Market Compare?
The global managed file transfer (MFT) market is anticipated to grow from a valuation of US$1.6 Bn in 2020 to US$ to over US$4.5 Bn by 2031. In the past few years, managed file transfer have gained an enormous interest across the globe due to development of cloud based managed file transfer solutions.
The BFSI sector, telecommunication, and other industries have been exhibiting high demand for managed file transfer software and services for managing regular workflow. This is expected to contribute to revenue generation in the market over the forecast period. The market is projected to grow at a healthy CAGR of around 10.0% through 2031.
Are Technological Advancements Pushing Managed File Transfer Solution Demand?
Consistent development and implementation of new technologies such as managed file transfer as-a-service (MFTaaS) solution and cloud computing technology for automatically encrypting data prior to transfer, ensuring security, and centralization & mobility among others are creating opportunities for growth of managed file transfer solutions spending.
Advantages such as increased business productivity, robust data movement, and reduced costs are the primary factors encouraging an increasing number of managed file transfer solution providers offering new and innovative products for business continuity.
The integration of technologies such as IoT, Big Data, Artificial Intelligence, and others can be expected to lead to the expansion of the managed file transfer market with much more capabilities and improved performance.
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A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Why are Business Collaborations Considered Crucial for Market Consolidation?
Managed file transfer software and service providers actively support industry collaborations in the digital IT ecosystem. Technological advancements in the last couple of years have been aimed at enabling MFT providers to bring products faster in the market.
The strategy followed by the MFT providers is that they are investing in resources and participating in a variety of development committees and industry associations groups. This has resulted in companies considerably gaining from industry collaborations.
For instance, in February 2021, Tata Power Delhi Distribution Limited collaborated with OpenText to enable a remote workforce and empower consumers during the pandemic. OpenText Documentum keeps remote workers connected to critical business content and helps drive nearly 35 percent increase in digital payments
What are the Opportunities for Managed File Transfer in Banking Sector?
From the last few years, the banking industry is undergoing rapid digitalization, fueled by increasing smartphone usage and connectivity. The increasing penetration of the Internet is paving the way for the expansion of the market. However, these developments also have increased the threat of data privacy.
For managing securities for bank customers, banks are increasingly deploying managed file transfer solutions. In addition to this, nowadays, banks are more focused on delivering customer-centric services to maximize profits by customer retention, which is resulting into the increasing demand for the solutions and services.
What are the Key Challenges for Managed File Transfer Providers?
Managed file transfer providers have been facing extreme pressure to lower the transmission cost of file transfers and are ending up losing interest in this field. This could hinder growth of the global MFT software & services market. In organizations, at the time of installation of managed file transfer system, it is necessary to provide access to the main server in order to analyze the requirement of the concerned organization. The main server contains all the confidential data about the organization and its customers and business partners, and providing access to it could be a big risk for the organization.
Why is Demand for Managed File Transfer Solution Surging in U.S.?
North America will be the largest market for the managed file transfer, due to the strong presence of MFT providers in the region. This is attributable to the increase in demand for managed file transfer across various verticals such as BFSI, media & entertainment, retail, manufacturing, telecommunication, others.
According to the report, the overall managed file transfer solutions spending in the U.S. alone is likely to increase by 8.2% between 2021 and 2031, with a market value of US$ 474.6 Mn in 2021.
Furthermore, the U.S. is the dominant country in the global managed file transfer market accounting for around 20%-30% of the market share in 2021. The increased adoption of cloud computing applications in industries has been fueling the growth for MFT solutions in the North American market.
Is Germany a Lucrative Market for Managed File Transfer Solutions?
The adoption of managed file transfer software by government organizations in Germany is encouraging MFT solution providers to introduce solutions meant particularly to cater to the needs of government departments, in the region. The market in Germany is anticipated to be valued around US$ 253.7 Mn by 2031.
It is expected to gain from the implementation of GDPR-based requirements across various organizations. Companies such as HelpSystems are delivering managed file transfer solutions along with GDPR compliances. This is expected to contribute to the increasing demand for managed file transfer over the forecast period.
Will Development for Cloud Computing Technology Affect Growth in China?
China and Japan are offering lucrative growth opportunities to the market. The IT and telecom sectors are growing rapidly in East Asia owing to the increasing number of Tier II & Tier III solution providers. This presents a conducive environment for the expansion of the market.
Expansion of the cloud computing market in China will remain a chief growth driver. With the cloud infrastructure in China forecast to grow exponentially, the demand for MFT solutions and services will rise as well.
Why is Demand for Managed File Transfer Solution Growing in India?
Key vendors in the MFT software & services market are targeting the growing economies such as India to expand their global presence. This, in turn, is boosting the growth of the MFT software & services market in Asia Pacific. The managed file transfer market in India is anticipated to witness a growth in revenue from around US$ 66.0 Mn in 2020 to US$ 339.8 Mn by 2031.
The demand for secured file transfer is rapidly increasing, not only in the field of BFSI but also in the manufacturing industry. The reason behind this is the fact that, managed file transfer can conduct file transfer for larger data volumes with improved security.
Which is the Preferred Managed File Transfer Solution?
According to solution, the market is segmented as software and services. By value, the managed file transfer software segment is dominating the market and it is estimated to account for nearly 77% of the total market value share by the end of 2021. The software segment included various types of managed file transfer software such as system-centric file transfer, people-centric file transfer, and extreme file transfer.
The managed file transfer software offers different features such as eliminates risk of breaches, increase productivity, flexible deployment options, and secure protocol support. The reliability of such features is driving the demand across regions.
Why is Demand for Managed File Transfer High in BFSI Industry?
In terms of industry, the market is segmented as IT & Telecom, BFSI, healthcare, retail, media & entertainment, manufacturing, and others. The BFSI industry is dominating the global managed file transfer market and it is estimated to account for 26% of the total market value share by the end of 2021.
The BFSI segment is also expected to remain as a key end user in the global MFT software & services market, due to the increasing demand for safety and security improvement in banking and financial transactions.
Introduction of new products is a key strategy followed by top players in the managed file transfer solution market. Through this they intend to increase their business revenue. Managed file transfer solutions providers are focusing on innovation in products/services to improve their market shares.
For instance, in 2021, Software AG launched Adabas Auditing for z/OS to manage growing data security demands. The new product offers monitoring capabilities which typically focus only on data changes to include any data access, including identifying what data was read by whom and when. It was developed in collaboration with Beta Systems.
Market players are also focusing on establishing partnerships with other technology vendors in order to expand their footprint in regions where they have limited presence.
Some of the leading companies operating in the market are:
- Axway Inc.
- GlobalSCAPE, Inc.
- IBM Corporation
- Micro Focus
- Software AG
- Oracle Corporation
- Wipro Limited
- Signiant Inc.
- OpenText Corporation
- CA Technologies Inc. (Broadcom)
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.
Scope of Report
Historical Data Available for
USD Million for Value
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa
Key Segments Covered
Solution, Industry, and Region
Key Companies Profiled
Market Forecasts, Vendor Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Key Questions Answered in Report
What are the factors fuelling demand for managed file transfer solutions?
The rising demand for incorporation of artificial intelligence, cloud computing, business intelligence, and Managed File Transfer as-a-Service (MFTaaS) across organizations to streamline their operations will fuel the demand in managed file transfer market.
What are the major challenges for managed file transfer solution providers?
Unsecure data access, high competition, lack of skilled resources to monitor the data transfer, along with infrastructural security issues, are challenges which might slow down the growth of the market.
What are the major trends impacting the sales of managed file transfer solution?
Partnerships between managed file transfer vendors, and increasing demand from banking sector are surging the sales of managed file transfer solutions
Which are some of the leading companies offering managed file transfer solution?
Some of the leading companies offering managed file transfer are Axway Inc., GlobalSCAPE, Inc., IBM Corporation, Micro Focus, Software AG, Oracle Corporation, Wipro Limited, CA Technologies Inc., Clearswift, Signiant Inc., OpenText Corporation, Coviant Software Corporation, Primeur, and others.
Which region is expected to be at forefront of managed file transfer market?
Managed file transfer market are likely to witness high demand in South Asia & Pacific due to increasing application in countries such as India, Indonesia, Australia, and others.
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Market Segmentation by Category
- System-centric File Transfer
- People-centric File Transfer
- Extreme File Transfer
- Implementation & Integration
- Support & Maintenance
- Media & Entertainment
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)