Competitors in the global managed file transfer market can expect clients to be more demanding for dual endpoint MFT solutions, says Transparency Market Research (TMR). It is now clear that the implementation of managed file transfer on both sender and receiver ends can open up a plethora of high efficiency solutions for data management and transfer systems.
TMR analysts have pursued the scope of several key activities and developments in the global managed file transfer market. “Apart from the option of implementing a hybrid solution system, players in the global managed file transfer market are essentially providing clients with two key and opposing options,” states a TMR analyst for the market, adding, “While the provision of both can be extremely beneficial to a player, it is a considerably healthier option to improve implementations on one. This is because while most players are looking for on-premise solutions, not too many can afford it. This is a rather unique disparity in user preferences, and must be tackled on high priority by vendors.”
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Clients Begin Choosing Cloud-based MFT Solutions over On-Premise Solutions
Till 2015, on-premise MFT solutions had dominated the market. TMR analysts state that this segment will even continue to lead the market revenue stream till 2024. Clients with large enough collaterals could opt for on-premise MFT systems, allowing vendors to make the most of the large capital that would be spent in the market.
The global managed file transfer market poses a unique challenge for its players: clients are largely interested in adopting on-premise solutions, but only the larger companies can actually afford the implementation. As a result, medium and small-sized companies are opting for the rapidly rising cloud-based MFT solutions. Cloud-based MFT is an overall positive solution deployment model, but its problem lies in its security rating. Cloud-based managed file transfer solutions can provide scalable, flexible, and high-speed file transfer systems, but they are also prone to attacks through their network.
This is only a scenario of the present, however, as managed file transfer companies are working harder to provide a better grade of data integrity and security measure. As a result, the security ratings of cloud and IoT-based MFT solutions are increasing and pulling a greater number of clients towards them.
Global Managed File Transfer Companies Gaining Clients Through Increased Player Competitiveness
Up till 2015, the global managed file transfer market was mostly taken up by the key players GlobalSCAPE, Inc., Axway Software SA, Oracle Corporation, and IBM Corporation. The entry of new players with fresh outlooks has shaken up things in the market, creating a higher drive towards innovation and also an increase in the number of clients.
This can be attributed to companies such as Open Text Corporation, Biscom, Inc., and Cleo Communications, Inc. Their emergence has allowed global players to tie up with regional ones to increase player penetration in domestic markets. This has been done on a larger scale by companies such as IBM Corporation, which is already showing a heavy focus on developing cloud-based MFT solutions.
Developed Regions Getting MFT Compliant, Emerging Regions Getting Digitized
The geographical scope of the global managed file transfer market shows a consistent growth rate in North America, its current regional leader. This regions holds a large number of key players from the market, and is additionally showing a higher rate of compliance standards implementation by national governments. These include PCI DSS, SOX, and HIPAA, and all three have played a major part in the growth of the North America managed file transfer market. Meanwhile, the Asia Pacific managed file transfer market is showing a high rate of digitization in countries such as India and China. This is consequently creating a rise in cybercrime and data security services, thus providing a wide scope for established and emerging players to enter this region.