In a recent report titled “Managed File Transfer (MFT) Software & Service Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025),” Persistence Market Research offers an updated forecast for the global Managed File Transfer (MFT) Software & Service market. The market was valued at US$ 1,032.8 Mn in 2016 and is anticipated to grow at a CAGR of 7.2% from 2017 to 2025. The global Managed File Transfer (MFT) Software & Service market is experiencing revenue growth due to rising demand from the banking industry and rising R&D spending.
The global Managed File Transfer (MFT) Software & Service market was predicted to generate US$ 1,157.2 Mn in revenue by 2015, up from US$ 1,092.1 Mn in 2014, according to the PMR report “Managed File Transfer (MFT) Software & Service market: Global Industry Analysis and Opportunity Assessment 2015 – 2025.” The global Managed File Transfer (MFT) Software & Service market’s compound annual growth rate (CAGR) from 2015 to 2025 was 6.0%.
Managed file transfer is a type of software that allows transfer of files inside the organization or between multiple organizations. This method is a fast, secure, reliable and transparent way of exchanging files with additional features such as tracking and monitoring. As a result, one can discover loss of data from a specific point and also receive acknowledgement after successful completion of the file transfer process. With the advent of digitalization, companies are becoming heavily dependent on successful transmission of digital files bearing critical information. Hence, this transmission should be secure, reliable and quick to run the business process smoothly in real time. Demand for efficient and effective file transfer has been increasing in the past few years. A similar trend is anticipated to continue during the next five to six years.