Global MFTPaaS Market Highlights over 2022 – 2031
The global MFTPaaS market is estimated to grow at a CAGR of ~16% over the forecast period, i.e., 2022 – 2031. MFTPaaS, or managed file transfer platform-as-a-service provides secure and managed end-to-end data transfer gateway. The growth of the market can be attributed to the increasing adoption of cloud-computing technology, along with the rising need for secure data transfer across the internet. Additionally, the growing adoption of cloud computing, and multi-cloud functioning, is projected to boost the market growth. For instance, cloud computing generated more than USD 390 billion revenue in 2021. Moreover, growing penetration of internet globally, is anticipated to boost the market growth. According to the World Bank Statistics, 56.727% of the global population used internet in 2019; which is estimated to cross 60% by the end of 2021. Moreover, growing technological research and innovation, is estimated to further boost the market growth.
The market is bifurcated by installation into on-premise, and cloud-based out of which, the cloud-based segment is anticipated to hold the largest share in the global MFTPaaS market over the forecast period, on account of increasing penetration of cloud computing, and dependence on cloud-based database amongst various end-user industries. Moreover, numerous major companies rely on cloud computing technology to access and transfer the large volumes of data, which is estimated to boost the market growth.
On the basis of end-user, the market is segmented into BFSI, retail, manufacturing, energy & utility, IT & telecommunication, and others. Among these, the BFSI (banking, financial services, and insurance) segment is estimated to gain notable growth over the forecast period, owing to the involvement of large amounts of sensitive data in the BFSI sector, along with increasing demand to ensure safe transfer of the data. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global MFTPaaS Market Regional Synopsis
On the basis of geographical analysis, the global MFTPaaS market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to hold significant share and grow at the highest CAGR during the forecast period, owing to the increasing penetration of technology, such as, cloud computing and IoT, backed by technological advancement in the developing countries. Furthermore, increasing investment in technological development, including cloud services, in the countries, such as, India, and China is expected to boost the market growth. For instance, the revenue share of the cloud service industry in the Asia Pacific region reached around USD 13 billion in 2019, up from USD 7 billion in 2015.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the higher adoption of advanced technologies, and rising BYOP trend in workplaces in countries, such as, Canada, and the United States. Moreover, the presence of major market players in the region, along with availability of advanced technology are projected to fuel the market growth.
The global MFTPaaS market is further classified on the basis of region as follows:
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North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global MFTPaaS market includes the following segments:
By Type
- System-centric File Transfer
- People-centric File Transfer
- Extreme File Transfer
- Others
By Installation
- On-Premise
- Cloud-Based
By End-User
- BFSI
- Retail
- Manufacturing
- Energy & Utility
- IT & Telecommunication
- Others
Growth Drivers
- Growing Adoption of Cloud-Computing Technology
- Need for Secure Data Transfer amongst Industries
Challenges
- Increasing Prevalence of Cyber Attacks
- High Competition from MFTSaaS
Top Featured Companies Dominating the Market
- International Business Machines Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Teradata Corporation
- Oracle Corporation
- Axway Software
- Citrix Systems
- Kiteworks Inc.
- Wipro Limited
- Saison Information Systems Co. Ltd.
- TIBCO Software Inc.
- Hewlett Packard Enterprise
