Managed File Transfer (MFT) Software and Service is a type of software that offers applications for business automation, along with reporting and non-repudiation.
MFT Software and Service Market
An MFT solution should simplify management and ensure regulatory compliance while supporting all current security standards and methodology such as SSL encryption and proxy certificates.
It is a type of software which is used to provide secure internal, external and ad-hoc data which is transferred through a network. Hence, the software and products are designed to help organizations to meet their increasing demand for security and compliance to transfer information.
Online banking, increasing rates of device thefts, data hacking, innovation and acceptance of cloud technology are the factors which are driving the Managed File Transfer Software and Services Market. Also, rapid digitization across various sectors is fueling the growth of the market.
However, cyber security attacks are hampering the overall growth of the market.
According to Market Research Future Analysis, Managed File Transfer (MFT) Software and Service Market has been valued at USD ~1750 million by 2022 growing with ~11% of CAGR during forecast period 2016 to 2022.
MFT Software and Service Market Players:
- Axway (U.K.)
- IBM Corporation (U.S.)
- Attunity Ltd (Israel)
- Ipswitch, Inc (U.S)
- GlobalSCAPE, Inc (U.S.)
- Accellion (U.S.)
- Coviant Software Corporation (U.S.)
- OpenText (Canada)
- Saison Information Systems co., ltd.(Japan)
- JSCAPE (U.S.)
- Safe-T (Israel)
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Also, the growing demand for cloud based file transfer solutions and rising trend of application integration acts as opportunities for the growth of the market over the forecast period.
According to Market Research Future Analysis, the market can be segmented on the basis of solution, services, deployment and region.
- Application centric
- System Integration
- Support and Maintenance
Out of these, cloud based managed file transfer solutions accounted for the largest market share majorly due to the gaining traction among small and medium businesses as they face the challenge of affordability of the infrastructure required for an on-premises implementation.
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By Region, MRFR analysis shows that, North America accounted for the largest market share because owing to rising investments in MFT solutions by a number of businesses seeking improved business process integration.
Asia-Pacific region is expected to grow over the forecast period, 2016-2022 majorly due to rapid digitization of organizational processes across various sectors.
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