According to a study by Future Market Insights (FMI), the Managed File Transfer (MFT) market will surpass US$1.7 billion in 2021 driven by growing adoption in BFSI and IT & Telecom sectors. Managed File Transfer is a form of software that enables file transfers both within and between companies.
This method is considered a transparent way to share data with additional features such as tracking and monitoring. It is fast, secure and reliable. Users can use the technology to identify data loss from a certain point in time and receive notification when a file transfer is successful.
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Due to digitization, businesses are increasingly dependent on the successful transfer of digital files containing critical information. Therefore, they need secure, reliable and fast transmissions to keep the business process running smoothly in real time. As a result, the need for efficient and effective file transfer has increased in recent years.
According to the revised report by Future Market Insights (IMF), the global managed file transfer (MFT) market is expected to grow at a stable CAGR of around 10.0% during the forecast period (2021-2031). The BFSI segment will emerge as a key end user as it continues to show strong demand for cost-effect technologies for file transfer.
Key insights from market research
Growing demand for seamless file transfer between or within organizations will enable managed file transfer market growth at a CAGR of 10% between 2021-2031
The market in the United States is expected to grow at a CAGR of 8.2% through 2031, becoming dominant in North America
Germany will become a key market for MFT, accounting for more than a quarter of Europe’s recorded demand
China and Japan will become key markets in East Asia. While China is expected to account for a higher share, Japan will show growth at a higher pace
Rapid digitalization will enable double-digit growth in India, driving market expansion in South Asia
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Impact of COVID-19 on the Managed File Transfer Market
The COVID-19 outbreak has wreaked havoc on many businesses, including controlled file transmission. Many businesses and government organizations have shifted to remote working, which has led to an increase in demand for controlled file transfer solutions.
The managed file transfer industry is expected to grow 1.6x from 2019 to 2020, with demand peaking due to the COVID-19 outbreak and the shift to a remote workforce. The shift to remote working has led to an increase in demand for secure managed file transfer (MFT), managed file transfer cloud services, and remote management of secure file transfers for mission-critical projects.
Automation in the Enterprise Workflow Management Engine Market
Companies in various industry sectors are increasingly focusing on deploying managed file transfer software to create automated management of enterprise workflows. Application of managed file transfer solutions includes generation of event-driven automation to perform specified tasks, which are generated at corporate domain, users, group level or server level .
Businesses also use Managed File Transfer to automate different tasks such as assigning expiration dates to files, scheduling file transfers, and other functions for deleting files, transferring and storing files, initiating actions triggered by events and send notifications based on defined activities.
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Market segmentation by category
Media and Entertainment
South Asia and the Pacific
Middle East and Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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