Managed File Transfer (MFT) Market Expectations & Growth Trends Highlighted by 2031

According to a Future Market Insights (FMI) study, the managed file transfer (MFT) market will surpass US$ 1.7 billion in 2021 due to increased adoption in the BFSI and IT & Telecom industries. Managed file transfer is a type of software that allows file transfers both within and between businesses.

This method is thought to be a transparent method of data sharing with additional features such as tracking and monitoring. It is quick, safe, and dependable. Users can use the technology to detect data loss from a specific point in time and be notified when a file transfer is successful.

Businesses are becoming increasingly reliant on the successful transfer of digital files containing critical information as a result of digitization. As a result, they require secure, dependable, and timely transmissions to keep the real-time business process running smoothly. As a result, in recent years, there has been an increase in the demand for efficient and effective file transfer.

The global managed file transfer (MFT) market is expected to grow at a steady CAGR of around 10.0 percent over the forecast period, according to a revised report by Future Market Insights (FMI) (2021-2031). As long as there is a high demand for cost-effective file transfer technologies, the BFSI segment will emerge as a key end-user.

Key Market Study Findings

• Rising demand for seamless file transfer between or within organisations will propel the managed file transfer market to a 10% CAGR between 2021 and 2031.
• The market in the United States is expected to grow at an 8.2 percent CAGR through 2031, making it the dominant market in North America.
• Germany will emerge as a key market for MFT, accounting for more than one-fourth of European demand.
• China and Japan will emerge as key East Asian markets. While China is expected to account for a larger share, Japan is expected to grow at a faster rate.
• Rapid digitization will enable double-digit growth in India, propelling the market in South Asia to new heights.

COVID-19’s Impact on the Managed File Transfer Market

The COVID-19 outbreak has caused havoc in a number of industries, including controlled file transmission. Many businesses and government agencies have moved to remote working, which has increased demand for controlled file transfer solutions.

From 2019 to 2020, the managed file transfer industry is expected to grow by 1.6X, with a surge in demand due to the COVID-19 epidemic and the shift to a remote workforce. Because of the shift to remote working, there has been an increase in demand for secure managed file transfer (MFT), managed file transfer cloud services, and remote management of secure file transfers for critical projects.

The market is being driven by automation in enterprise workflow management.

Enterprises in a variety of industry verticals are increasingly focusing on the deployment of managed file transfer software to automate enterprise workflow management. The use of managed file transfer solutions includes the creation of event-driven automation for performing specific tasks on the enterprise domain, user, group, or server level.

Managed file transfer is also used by businesses to automate tasks such as assigning expiration dates to files, scheduling file transfers, and other functions for deleting files, transferring and storing files, initiating event-driven actions, and sending notifications based on defined activities.

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