Global Managed File Transfer (MFT) Software and Service Market, By Solution (Application Centric, People-Centric, Ad-hoc), By Service (Consulting, System Integration, Support and Maintenance), By Deployment (On-premises, Cloud) – Forecast 2022
As COVID 19 fears are blowing up, Market Research Future finds in its study that the Global Managed File Transfer Software and Service Market 2020 might see a bright future and expand at a CAGR of approximately 11% during the forecast period 2016-2022. The report includes the latest coverage of the impact of COVID-19 on the managed file transfer software and service industry. Thus, through the study, MRFR predicted that that market might go high with USD 1750 million by the end of 2022.
Top Impacting Factors
Managed file transfer works as a type of software that allows the files to transfer in an organization or between multiple organizations. The method is a fast, reliable, secure, and transparent way of exchanging files, with additional features such as tracking and monitoring. Consequently, one can discover the loss of data from a precise point and also receive an acknowledgment after the successful completion of a file transfer process. Thus, with the advent of digitalization, companies are becoming heavily dependent and active on the successful transmission of digital files having critical information. This has created a substantial demand for efficient and effective file transfer, which is seen to be increasing since the past some years. A comparable trend is likely to continue during the next five to six years, thus creating many opportunities for the market to bring in. In fact, during COVID-19 breakthrough, the market is witnessing steady growth as companies globally are using managed file transfer software and service in a dignified way to conduct businesses properly while on ‘work from home mode.’
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MRFR indicates promising growth prospects for the global managed file transfer software and service market with evolving factors such as the expanse of the online banking sector that has been motivating managed file transfer software and services demand. The past decade has witnessed an astonishing rise in the number of online banking customers, ultimately resulting in potential cyber-attacks. Banks and financial institutions are progressively adopting managed file transfer software and service solutions for the past few years. The augmentation in the adoption rate is attributed to the burgeoning need for security of data and governance as well.
To add further, the advent of technology has also brought in several benefits to the market of managed file transfer software and service. With growing applications of cloud-based managed file transfer software and service solutions and expanding awareness for flexibility and benefits of cloud-based file transfer, the market will congregate momentum over the forecast period. With this, a large number of SMEs, and banks are highly investing in cloud-based managed file transfer solutions to achieve cost-effective maintenance and scalability. Affordable infrastructure associated with cloud-based, on-premise managed file transfer software and service deployment is also likely to create lucrative opportunities in the market for the future timeframe.
Segmentation of Market: Managed File Transfer Software and Service
The study by MRFR also digs some segmentation of the global managed file transfer software and service market, which has been done through the solution, service, and deployment.
Depending on solution segment, the market has included application-centric, people-centric and Ad-hoc
Depending on the service segment, the market has included system integration, consulting, and support, and maintenance.
Depending on deployment, the market has included on-premises and cloud-based.
Geologically, the global managed file transfer software and service market are classified into crucial regional markets, which include North America, Europe, Asia, and the Rest of the World (ROW).
The region of North America is probable to continue governance through to 2022 with over 40% market share, owing to rising investments in managed file transfer software and service solutions by several businesses seeking improved business process integration.
Western Europe is also estimated to be the second-largest market, with nearly 28% share by 2022 end. Whereas, Asia Pacific will also emerge as the fastest growing market at a robust CAGR over the assessment period, followed by Latin America. These two developing markets are identified to be the critical determinants of the market growth in the future timeframe.
Top Giant Market Names
The competing players of global managed file transfer software and service report are listed as IBM Corporation (U.S.) Axway (U.K.), Ipswitch, Inc (U.S), Attunity Ltd (Israel), Accellion (U.S.), GlobalSCAPE, Inc (U.S.), OpenText (Canada), Coviant Software Corporation (U.S.), JSCAPE (U.S.), Saison Information Systems co.,ltd.(Japan) and Safe-T (Israel).
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