Managed file transfer (MFT) is a type of software used to provide secure internal, external and ad-hoc data transfers through a network. MFT products are manufactured using the FTP network protocol. MFT is a class of file transfer software that emphasizes consistency and security to allow precarious business processes. MFT is a purpose-specific class of middleware focused on the reliable transfer of files between business parties, using simple, secure protocols and easy-to-understand models of exchange.
Stimulated with secure encryption, manageability, scalability, file processing, integration, and business-reporting options that allow IT to deliver more sophisticated, controlled file-transfer solutions are offered without slipping into the custom-code abyss. Though, because federal regulations require that MFT products meet strict regulatory agreement standards, they include mechanisms to ensure a higher level of security and help keep information private.
MFT offers a higher level of security and control than FTP. Features include reporting (e.g., statement of successful file transfers), non-repudiation, auditability, global visibility, automation of file transfer-related activities and processes, end to end security, and performance metrics/monitoring. The global Managed File Transfer Software Market is segmented on the basis of software, service, vertical, and region.
On the basis of software, the global market is classified into system-centric file transfer, people-centric file transfer, and extreme file transfer. System-centric file transfer segment is expected to account for over half of the market share in terms of revenues. On the basis of service, the global market is classified into implementation & integration service, consulting service, and maintenance service.
Maintenance service segment holds the largest market share of managed file transfer software market in terms of revenue, and is expected to remain dominant over the forecast period. This is due to leading market participants are investing heavily in R&D activities in order to innovate new MFT solutions. On the basis of verticals, the global market is classified into banking, financial service & insurance (BFSI), media & entertainment, retail, manufacturing, telecommunication, and others (government, energy & utility, and marketing & advertising).
BFSI segment is predicted to lead the market in terms of revenue share by 2021 end. This dominance is attributed to high data sensitivity and vulnerability to security breaches. Financial service & insurance segment is expected to expand at a decent CAGR during the forecast period. Geographically, the global market is segmented into North America, Eastern Europe, Western Europe, Asia Pacific, Japan, Latin America, Middle East and Africa. North America region accounts for the largest market share of managed file transfer software market and is expected to remain dominant over the forecast period. This is due to rising investments in MFT solutions by a number of businesses seeking improved business process integration.
Western Europe is the second largest region with maximum market share of the global MFT software market. Asia Pacific is expected to grow at highest CAGR over the foremost period, which is then followed by Latin America. These two developing markets are identified to be the key determinants of the market growth in near future. The key players are IBM Corporation, Aspera (an IBM company), Wipro Limited, Oracle Corporation, Accellion, The Axway Inc., TIBCO, Software AG, GlobalSCAPE Inc., CA Technologies Inc., Hightail, Signiant Inc., Micro Focus (Attachmate), SWIFT, Saison Information Systems, Primeur, Attunity (RepliWeb), FileCatalyst, and Data Expedition.
Research Support Specialist, USA