The various aspects of globalization, mobilization, digitization, and virtualization are bringing about a transition in the manner of execution of various operations, communications, and functioning of enterprises.
These changes are resulting in large data volumes, that is transferred across various organizations and surpass global boundaries.
However, it is very critical to maintain the safety of business data in the process of transfer across various digital paths thereby making it important for organizations to possess dependable file transfer mechanisms and solutions in place. The process of managed file transfer (MFT) has come across as a useful alternative to traditional file transfer methods such as e-mails and file transfer protocol (FTP).
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The highly pivotal nature of data in the BFSI segment is susceptible to security breaches such as phishing attacks and hacking, employee frauds and theft of storage devices. Therefore, the BFSI industry has conventionally been a major buyer of efficient MFT solutions, thereby commanding a large share of The Global MFT Market .
The need for highly efficient MFT solutions has risen in the BFSI sector owing to incidents such as loss of compact discs of HSBC Bank in 2008 that had sensitive consumer information and the loss of Zurich Insurance’s U.K. branch back-up tapes in 2008. Thus, this sector will continue to propel the market growth and represent a considerable share of the global market in the future years.
Market Classification and Segment Overview
The on-premise deployment method has conventionally remained the most preferred mode of providing excellent security to data, especially in data sensitive sector such as defense and BFSI. The on-premise deployment method commands the largest share in the global MFT market.
In the future years, this segment is expected to be a major revenue generator of the market, due to large amounts of data being generated from after sales services and maintenance operations. In the future years, the cloud-based deployment is estimated to evolve as the highly preferred MFT deployment methods.
Factors such as high cost awareness and flexibility benefits offered by cloud-based deployment services, and the rapid augmentation being achieved in the data security fields are leading to granting cloud-based deployment services market leadership position. It is expected that there will be huge surge in demand from both medium and small-sized companies over the future years owing to hybrid deployment mode, thereby enabling benefits of both on-premise and cloud deployment modes.
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The rapid digitization of organizational processes across developing regions of Asia-Pacific and Latin America has augmented the need for efficient safety mechanisms regulating the digital file transfer routes, thus generating the demand for MFT services and solutions. Digitization is highly raging in the banking sector across Latin America and Asia-Pacific regions and various government organizations.
The firms in the BFSI industry are increasingly deploying MFT solutions to enable quick on-boarding of new trading partners, improve availability of systems and improved compliance through numerous applications in payment consolidation, image checks, DLP, and claims processing. With regards to this trend, the major MFT vendors are targeting their strategies towards these nations and are estimated to witness huge growth from sales of solutions and services over future years.
|Market||Global Managed File Transfer (MFT) Market|
|Analysis Period||2014 – 2024|
|Historic Data||2014 – 2015|
|Forecast Data||2017 – 2024|
|Market Stratification||Deployment Type, Service, Solution, Size of Organization, Geography|
|Regional Scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)|
|Report Coverage||Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis|
The managed file transfer market consists of various vendors, such as Axway Software, IBM Corporation, Ipswitch Inc., GlobalSCAPE Inc., JSCAPE, Attunity, Safe-T, Coviant Software Corporation, Accellion Inc., Saison Information Systems Co. Ltd., OpenText, and others that market their managed file transfer services and solutions to end users to meet their business requirements.
Factors such as high cost awareness and flexibility benefits provided by cloud-based deployment services, and the rapid augmentation being achieved in the data security fields are leading to granting cloud-based deployment services market leadership position.
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Market by Deployment Type
Market by Service
Consulting and system integration
Support and maintenance
Market by Solution
Market by Size of Organization
Small and medium enterprises (SMEs)
Market by Geography
o Rest of Europe
o Rest of Asia-Pacific
o Rest of Latin America
Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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