The MFTPaaS market is expected to grow by more than 16.8% CAGR in the next five years. MFTPaaS enables cloud-based sharing of information among businesses which helps to transfer files between multiple enterprises or inside an enterprise.
According to latest research by Future Market Insights, MFTPaaS market is set to witness higher growth during 2021-2031. The market will show highest growth in coming years, owing to increasing adoption of cloud computing services and adoption & innovations in advanced technologies. Moreover, security of information and increasing cyber-attacks is expected to hamper the growth of the MFTPaaS market.
Growing need for adoption of cloud computing services and adoption & innovations in advanced technologies in recent years fuels the growth of the MFTPaaS market. Majority of enterprises adopts innovative enterprise applications for business/information transformation and enterprises also uses advanced data transfer technologies which helps them to secure enterprise data.
It fuels the demand for the MFTPaaS market. Also increasing demand for the advanced technologies such as big data, IoT, penetration of digital technologies is expected to drive the demand for the MFTPaaS market.
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The enterprises need secure file transfer such as share solutions and enterprise file sync with security, integration, compliance. But along with the cloud computing technology the risk of data breach gas been increased. As well as sophistication in cyber-attacks also fuels the demand for the highly secure data transfer channels/platform for enterprises.
MFTPaaS provides highly secure data transfer channels/platform for enterprises/SMEs and helps to address security vulnerabilities associated with HTTP systems and old FTP. Thus increasing need for secure file transfer owing to increasing number of cyber-attacks is expected to drive the demand for the MFTPaaS market.
North America is anticipated to constitute a highest market share in the MFTPaaS market over the forecasted period. The North America shows significant growth in MFTPaaS market owing to adoption of new advanced technologies such as IoT, 3D printing, and big data technologies.
Digital transformation in North America has shown significant growth in recent years. Also North America witnesses the deployment of cloud systems in many of the industry such as BFSI, telecommunication, healthcare, government, defense, and retail. Increasing need for the advanced information sharing solutions/services along with rising concern about cyber security is propels the demand for the MFTPaaS market in North America region.
North America has massive presence of MFTPaaS providers such as Oracle Corporation, CA Technologies, IBM, and Axway Software. Presence of such key vendors in region fuels the growth of the MFTPaaS market in North America region.
Europe is the second largest contributor to MFTPaaS market, owing to presence of developed infrastructure for advanced technologies such as big data, IoT, cloud based solutions in the Europe region. France, Germany, Italy, and U.K. are the dominating economies in Europe region.
Europe shows second highest growth rate in MFTPaaS market owing to rising adoption of cloud MFT services solutions in many industry verticles. Also developed economies such as France, Germany, and UK has infrastructure for cloud based services/solutions.
Increasing cloud based services or solutions by large as well as SMEs and increasing need for secured data transfer in cloud based services boosts the demand for the MFTPaaS market in the Europe region.
Some of the leading vendors and companies of MFTPaaS market include
These key vendors have adopted various organic/inorganic strategies, to increase customer base at global market. They spends millions of dollars into product research and development to carry off the needs of their customers for MFTPaaS market.
Furthermore, many companies are focusing on launching of new product or enhance their product offering.
For instance, In March 2020, IBM Secure File Transfer delivered cutting-edge managed file transfer capabilities which helps to evolve with organization's business requirements.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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