logo
logo
Sign in

Managed File Transfer (MFT) Software and Service Market To Witness Growing Opportunities

avatar
International-Industry -News
Managed File Transfer (MFT) Software and Service Market To Witness Growing Opportunities

Managed File Transfer (MFT) Software and Service Market

Managed file transfer is a category of software that enables the transfer of files inside the organization or between numerous organizations. This method is a fast, reliable, secure, and clear way of exchanging data with additional features such as tracking and monitoring. MFT delivers a more safe method of file transfer than usual file transfer protocol (FTP) and generally comprises an interface and functionality that enables visibility and control. As a result, one can determine the loss of data from a specific point and also obtain an acknowledgment after the effective completion of the file transfer process. With the introduction of digitalization, companies are becoming heavily dependent on the successful transmission of digital files bearing critical information. Protecting data in today’s exceedingly regulated and growing data landscape necessitates a proactive approach. It means evaluating your business’s current system of data management and security policies to certify that you meet current and imminent compliance regulations and mandates. It also means that you must diminish or eradicate system susceptibilities that are often a result of inadequate security practices and system inefficiencies. Therefore, this transmission should be secure, reliable, and fast to run the business process smoothly in real time. Demand for proficient and competent file transfer has been growing in the past couple of years. A parallel trend is estimated to grow over the next five to six years. Demand for Managed File Transfer (MFT) Software & Service is expected to be driven by growing demand from the banking sector and augmented spending on research and development.

There are three kinds of managed file transfer software, which comprise system-centric file transfer, extreme file transfer, and people-centric file transfer. Furthermore, the managed file transfer software and services market is allocated in terms of type and vertical. Based on the type, the managed file transfer software and services market is divided into software and services. Software is offered by market players in three different models, namely system-centric file transfer, people-centric file transfer, and extreme file transfer software. Services include consulting, implementation & integration, and maintenance services. The factors persuading the global managed file transfer software and services market are compulsory government protocols, growing demand from enterprises through diverse industry verticals, the augmented concern for safety and security, the growing globalization of businesses, and others. The advantages provided by managed file transfer over standard FTP, such as management of enormous data volumes and enhanced visibility over the file transfer process, are major factors anticipated to fuel the need for MFT software and services over the near future.

According to Market Research Future Analysis, Managed File Transfer (MFT) Software and Service has been valued at USD ~1750 million by 2022 growing with ~11% of CAGR during forecast period 2016 to 2022.

Managed File Transfer (MFT) Software and Service is a type of software that offers applications for business automation, along with reporting and non-repudiation. 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 fuelling the growth of the market. However, cyber security attacks are hampering the overall growth of the market.

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.

More Information@

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: [email protected]

collect
0
avatar
International-Industry -News
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more