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.
Managed File Transfer (MFT) Software and Service Market
For the purpose of this study, Market Research Future has segmented the market of managed file transfer software and service t into solution, service and deployment.
- Application centric
- System Integration
- Support and Maintenance
Out of these, cloud based managed file transfer solutions accounted for the largest market share majorly due to the gaining traction among small and medium businesses as they face the challenge of affordability of the infrastructure required for an on-premises implementation.
The key players of global managed file transfer software and service report include Axway (U.K.), IBM Corporation (U.S.) Attunity Ltd (Israel) , Ipswitch, Inc (U.S), GlobalSCAPE, Inc (U.S.), Accellion (U.S.), Coviant Software Corporation (U.S.), OpenText (Canada), Saison Information Systems co.,ltd.(Japan) , JSCAPE (U.S.), Safe-T (Israel) and others.
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