Managed file transfer is a type of software that allows transfer of files inside the organization or between multiple organizations. This method is a fast, secure, reliable and transparent way of exchanging files with additional features such as tracking and monitoring. As a result, one can discover loss of data from a specific point and also receive acknowledgement after successful completion of the file transfer process. With the advent of digitalization, companies are becoming heavily dependent on successful transmission of digital files bearing critical information. Hence, this transmission should be secure, reliable and quick to run the business process smoothly in real time. Demand for efficient and effective file transfer has been increasing in the past few years. A similar trend is anticipated to continue during the next five to six years.
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The global Managed File Transfer (MFT) Software & Service market was valued at US$ 1,032.8 Mn in 2016, and is expected to register a CAGR of 7.2% during the forecast period (2017–2025). Demand for Managed File Transfer (MFT) Software & Service is expected to be driven by increasing demand from the banking sector and increased spending on R&D. According to the report “Managed File Transfer (MFT) Software & Service Market: Global Industry Analysis and Opportunity Assessment 2015 – 2025” published in 2015 by FMI, revenue generated by the global Managed File Transfer (MFT) Software & Service market was estimated to reach US$ 1,157.2 Mn by 2015, witnessing an increase from US$ 1,092.1 Mn in 2014. The CAGR of the global Managed File Transfer (MFT) Software & Service market during the period 2015 -2025 was 6.0%.
The Global Managed File Transfer (MFT) Software & Service market is categorized on the basis software, services, industry and region. On the basis of software, the market is segmented as System- Centric File Transfer, People- Centric File Transfer and Extreme-File Transfer. System- Centric File Transfer segment is anticipated to register a CAGR of 8.1% during the forecast period. The services segment is segmented into Implementation & Integration, Consulting and Maintenance. Consulting sub segment is anticipated to register a CAGR of 9.2% during the forecast period.
On the basis of industry, the market is segmented as BFSI, Media & Entertainment, Retail, Manufacturing, Telecommunication and Others. BFSI segment accounted for the highest market share of 37.0% in 2016. Telecommunication segment accounted for a market share of 10.0% in 2016. The Telecommunication segment is expected to register a healthy CAGR of 9.5% during the forecast period.
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Among the regions, North America accounted for the largest market share in 2016 owing to the growing need for Managed File Transfer (MFT) Software & Service due to Superiority over FTP. Also, demand for Managed File Transfer (MFT) Software & Service is increasing in the markets in Europe and Asia Pacific.