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Last edited 29 Jan 2016
Managed File Transfer (MFT) Software Market
According to the latest market report published by Persistence Market Research, “Global Market Study on Managed File Transfer (MFT) Software and Service: Driven by Advanced Features over FTP (Traditional File Transfer Protocol)” the MFT software and service market is estimated to be valued at US$ 1157.18 Mn by the end of 2015 and is anticipated to expand at a CAGR of 6.0% from 2015 to 2025, to account for US$ 2,071.94 Mn by 2025.
Managed file transfer (MFT) is a service or software that is utilised for managing secure data transfer from one computer to another via a network such as the internet. Managed file transfer software is marketed to software enterprises as a substitute to ad-hoc file transfer solutions such as HTTP and FTP. This is because MFT presents a greater level of control and security. MFT services are very fast for sharing even large volumes of data across all key open platforms. The file transfer platform servers utilised for MFT have a wide range of authentication and security options and no file may enter or leave without the approval of the server for carrying out the transmission. The file transfer platform servers can also automate the process of receiving and sending files.
 Technology Advancement to Propel MFT Service Market
The increasing demand for a digital supply chain has resulted in enhanced security and an increase in data volume. This has resulted in big enterprises have adopting MFT solutions and services. This will boost the growth of the MFT service market in the coming years. However, the absence of awareness amongst end users particularly, in emerging regions such as Latin America and APEJ, may impede growth.
MFT is used across a number of sectors such as the retail sector, the government sector, the manufacturing sector, the energy utility sector, banking, media and the entertainment sector, the telecommunication sector, and the financial service and insurance (BFSI) sector.
MFT comprises a number of features such as non-repudiation, reporting, auditability, automation of file transfer-related activities and processes, global visibility, performance metrics/monitoring, and end-to-end security. MFT applications can be used on both software-as-a-service (SaaS) and on-premises licensed software packages. A number of these applications are made for enterprise use and others are made to be sold to individual consumers.
On the basis of geography, the MFT service market is segmented into Latin America, North America, Western Europe, Japan, Eastern Europe, the Middle East and Africa (MEA), and Asia Pacific Excluding Japan (APEJ). Amongst these regions, North America is currently dominating the market for MFT services and is trailed by Western Europe. APEJ is predicted to bring in big opportunities for major players operating in the MFT service market in the future.
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