Technology Updates Managed File Transfer (MFT) Software and Service M

Soaring MFT Deployment in BFSI Sector to Drive Global Managed File Transfer (MFT)
Software and Service Market, North America to Remain Leading Region
The global managed file transfer (MFT) software and service market registered the revenues worth
1.15 Bn in 2015, which may spike up to US$ 1.22 Bn by 2016 end.
With expansion of online banking, the threat of cyber-attacks, information and device theft,
hacking, phishing, and other security-related issues will continue to emerge. The online banking
realm is rapidly thriving in developed as well as developing economies, fuelling the market for
managed file transfer. This is anticipated to remain a key factor pushing the market growth.
Considered to be a faster, transparent, more reliable, and more secure alternative for intra as well as
inter-organisational transfer of heavy confidential data, managed file transfer (MFT) software and
services is being increasingly preferred since the recent past. This will remain a major driver to the
MFT software and service market.
In addition, banking, financial institutions, and defence organisations wherein safety, security, and
privacy of information are of paramount, are also expected to fuel the demand for effective MFT
solution deployment. Moreover, appropriate MFT solutions further aid in avoidance of loss of data
during transfer, fostering the adoption by financial, defence, manufacturing, telecom, entertainment,
and other sectors. Technological advancements in MFT software are likely to continue applications
in several business verticals, eventually pushing the market for managed file transfer on a global
level. Growing popularity and procurement of cloud-based MFT solutions is a current market trend,
predicted to generate strong growth opportunities in near future.
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On the basis of software, system-centric file transfer software segment is anticipated to dominate
other two segments, including people-centric and extreme file transfer segments. The system-
centric MFT segment will possibly account for over 62% share of the entire market revenues in
2016, followed by people-centric MFT segment, expected to witness nearly 4.0% of Y-o-Y growth
in 2017 over 2016.
By service, the global managed file transfer software and service market will witness continued
dominance of maintenance segment.
Based on end-user vertical, the market is currently witnessing the highest growth in the banking,
financial services, and insurance (BFSI) sector. The demand from BFSI vertical is predicted to
remain the highest, generating the maximum revenues to the global market. This growth is
primarily attributed to the dynamically evolving BFSI sector and an exploding need for maintaining
safety, security, and privacy of confidential data.
Geographically, the global market for MFT software and service is segmented into seven key
regions. However, North America is foreseen to remain the dominant market owing to the
maximum deployment of technically superior file transfer solutions in a large number of businesses.
This region will contribute nearly 45% share to the market revenues in 2016, followed by Western
Europe with over 26% share. APAC is expected to witness the fastest growth, followed by Latin
America.
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IBM Corporation, Oracle Corporation, Wipro Limited, Aspera (an IBM company), Accellion,