A better, more efficient, and reliable alternative to ad-hoc file transfer solutions, including HTTP and FTP, MFT (managed file transfer) is a software or service commonly used for secure data transfer management from one computer to another over Internet. It is widely considered a faster and more transparent means of transferring heavy data across an organisation or between two or more different organisations.
FMI indicates promising growth prospects for the global managed file transfer software and service market. The market is anticipated to witness moderate growth over an eight-year forecast period, 2016-2025. Up from a value of US$ 1,227.7 Mn estimated or 2016, the market size is expected to reach US$ 2,071.9 Bn by the end of 2025.
Thriving Online Banking Sector Fuels the Demand for MFT Software and Service
The expanse of online banking sector has been a primary factor propelling the demand for managed file transfer software and services. The past decade has seen a tremendous rise in the number of online banking customers eventually resulting in potential cyber-attacks. Banks and financial institutions are increasingly adopting MFT solutions since the past few years. The growth in adoption rate is attributed to burgeoning need for security of data and governance.
Secure Data Transfer Gains Traction in Data-sensitive Fields
Increasing rates of device theft, data hacking, frauds, and phishing attacks are rapidly boosting the need for safety and security of critically important financial data and other information. Data-sensitive sectors, such as financial institutions, banks, and defence institutes constantly seek the utmost security and enhanced performance at reduced costs. This is effectively achieved by the implementation of appropriate MFT solutions, reaffirming the possibilities of market growth in near future.
Innovation and Acceptance of Cloud Technology Provides Impetus
The advent of technology has brought in several benefits, coupled with secure data transfer. With growing applications of cloud-based MFT solutions and rising awareness about flexibility benefits of cloud-based file transfer, the market will gather momentum over the forecast period. A large number of SMEs and banks are increasingly investing in cloud-based managed file transfer solutions in order to achieve cost-effective maintenance and scalability. Affordable infrastructure associated with cloud-based on-premise MFT deployment is likely to create lucrative opportunities in market.
System-centric File Transfer Software Leads the Software Segment
Based on software, the global market for managed file transfer software and services is fragmented into three key segments i.e. system-centric file transfer, people-centric file transfer, and extreme file transfer. Over the forecast period, system-centric file transfer segment is projected to account for over half of the market share in terms of revenues.
Demand for Maintenance Gathers Highest Momentum in Service Segment
By service, the market has been segmented into implementation & integration service, consulting service, and maintenance service. Maintenance service segment is expected to dominate throughout the forecast period, with the highest revenue share.
BFSI Remains the Leading Vertical in Terms of MFT Procurement
On the basis of vertical, there are six key segments in the global MFT software and service market, viz. banking, financial service & insurance (BFSI), media & entertainment, retail, manufacturing, telecommunication, and others (government, energy & utility, and marketing & advertising). BFSI segment is however predicted to spearhead the market in terms of revenue share by 2025 end. This dominance is attributed to high data sensitivity and vulnerability to security breaches.
North America Continues to Lead Globally, Followed by Western Europe
Geographically, the global managed file transfer software and service market is classified into seven key regional markets, including North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East and Africa (MEA). North America is anticipated to continue dominance through to 2025 with over 40% market share, owing to rising investments in MFT solutions by a number of businesses seeking improved business process integration. Western Europe is estimated to be the second largest market with nearly 28% share by 2025 end. Asia Pacific will however emerge as the fastest growing market at a robust CAGR over 2016-2025, followed by Latin America. These two developing markets are identified to be the key determinants of the market growth in near future.
Key Players Focus More on Alliance with Regional Companies
Some of the major companies competing in the global MFT software and service market landscape, include IBM Corporation, Aspera (an IBM company), Wipro Limited, Oracle Corporation, Accellion, The Axway Inc., TIBCO, Software AG, GlobalSCAPE Inc., CA Technologies Inc., Hightail, Signiant Inc., Micro Focus (Attachmate), SWIFT, Saison Information Systems, Primeur, Attunity (RepliWeb), FileCatalyst, and Data Expedition. Key players are concentrating on novel and custom product development, and acquisitions of regional players.
Future Market Insights offers a nine-year forecast for the global managed file transfer (MFT) software and service market between 2016 and 2025 in a newly published report, titled “Managed File Transfer (MFT) Software and Service Market: Global Industry Analysis and Opportunity Assessment, 2016–2025”. The primary objective of the report is to offer updates and in-depth analysis of market opportunities in the global market for MFT software and service. This report provides market dynamics and trends that are likely to influence the current nature and future status of the global market, directly or indirectly over the mentioned forecast period.
Future Market Insights analyses the global managed file transfer (MFT) software and service market in terms of value and volume. The primary objective of the report is to offer updates on developments in the global managed file transfer (MFT) software and service market and conduct a quantitative as well as qualitative assessment of the market across various software and service-based segments, end-user verticals, and regional market segments. To understand and assess key market trends and attractive growth opportunities, the report is categorically split into different sections such as market introduction and overview, market analysis scenario, market dynamics, analysis and forecast by software, by service, by end-user vertical, and by region. Each section discusses the qualitative and quantitative aspects of the global managed file transfer (MFT) software and service market. To offer a brief idea about revenue opportunities from various software and service types, end-use business verticals, and geographies, the report also provides absolute $ opportunity and total incremental opportunity for each segment and region over the forecast period.
The report begins with market introduction and provides market definition followed by a market analysis scenario. This section offers an extensive pricing analysis, supply chain overview, and cost structure analysis. The market dynamics section provides analysis of the drivers, restraints, and key trends influencing the global managed file transfer (MFT) software and service market. For market data analysis, the report considers 2015 as the base year, with market numbers estimated for 2016 and a comprehensive forecast made for 2017–2025.
The final section of the global managed file transfer (MFT) software and service market report provides in-depth profiles of key industry players in order to evaluate their long-term and short-term business strategies and recent developments. This section of the report also includes market share analysis of tier-1, tier-2, and tier-3 manufacturers and a dashboard view of key companies operating in the global managed file transfer (MFT) software and service market. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the global managed file transfer (MFT) software and service market.
We have leveraged extensive secondary research to ascertain overall market size and top industry players. To calculate market size, we have considered the average price of managed file transfer (MFT) software and service across geographies. The forecast assesses the total revenue as well as volume of the global MFT software and service market. When developing the market forecast, we have started by sizing the current market, which forms the basis for forecasting how the market is anticipated to take shape in near future. Given the characteristics of the market, we have triangulated the outcome on the basis of supply and demand side analysis and dynamics of the various regional markets. The report also takes into consideration year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the global managed file transfer (MFT) software and service market.
Further, the different market segments have been analysed in terms of Basis Point Share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for the identification of various key trends governing the global managed file transfer (MFT) software and service market. Another key feature of our report is the analysis of the global MFT software and service market revenue forecast in terms of absolute dollar opportunity, critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global managed file transfer (MFT) software and service market. Further, to understand key segments in terms of growth and performance in the global managed file transfer (MFT) software and service market, FMI has developed a market attractiveness index to help providers identify existing market opportunities across the global managed file transfer (MFT) software and service market.