Global Cloud MFT Services Market Forecast to 2024 with IBM, CA Technologies, and Oracle Dominating
Tuesday, June 25, 2019
DUBLIN, June 25, 2019 /PRNewswire/ -- The "Cloud MFT Services Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
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The cloud MFT services market is expected to grow at a CAGR of 10.57% over the forecast period 2019-2024.
Various factors such as globalization, virtualization, and digitalization are creating a huge volume of business data that needs to be exchanged or shared within or outside an organization, which is driving the market forward.
Key Highlights
-- The sharing of information is becoming more complex, with the file sizes
also increasing, therefore, there is an increasing demand for secure and
efficient file transfer solutions. The cloud-based MFT has been proven
to be a good solution for safe and secure file transfer, catering to the
needs of businesses today.
-- High information leaks across enterprises, rising need to reduce costs
of data exchange, increased awareness of risks associated with FTP, need
for stronger governance and security, and the need for new financial
reporting requirements are some of the key factors boosting the demand
for cloud-based MFT services.
-- The increasing need for secure, consistent and compliant file transfer
solutions for the smooth operations of the organizations is considered
as the major driver for this market.
-- Considering an MNC having globally dispersed teams, depends on fast and
secure data exchange irrespective of the data size in order to allow
project collaboration in real time. This dependency raises the need for
cloud MFT services, thus driving the market.
Major Market Trends
Hybrid Cloud to Witness High Growth
-- Hybrid cloud systems is a cloud computing environment, which uses both
private and public cloud systems depending upon the workload and
sensitivity. Organizations can depend on private cloud for sensitive and
critical workloads and use public clouds with less sensitive workloads.
-- In addition, public clouds are cost-effective and offer more
flexibility. Hence, hybrid systems are preferred by many organizations
mostly because of these advantages. As enterprises only pay for the
public could whenever they use it, so they can depend on a private cloud
during normal operations and can use public clouds during a spike in
computing power requirement. All these advantages are driving
organizations to opt for hybrid cloud solutions, hence driving the
market.
-- Moreover, with increasing episodes of cybercrimes through hacking,
malware infection, phishing and information spillages, among others have
made a requirement for security crucial amid these document exchange
forms.
North America Occupies the Largest Market Share
-- North American region is expected to hold the highest market share.
North America is seen as a significant business sector for oversaw
record exchange arrangements, as a large number of key players are
headquartered in this region. The Interest for cloud-based MFT solutions
keeps on developing in this region with rising area-specific
compliances.
-- With the increasing information ruptures in segments like government and
BFSI have boosted the need for information security in this region.
Interest in MFT solution is expected to further rise owing to the
development of the internet of things (IoT), which is relied upon to
produce a gigantic measure of information to be exchanged among gadgets
and associations.
-- Moreover, the market in the United States is growing because it is home
to some of the largest players in the market and is a pioneer in the
adoption of advanced technologies like 3D printing, IoT, and Big data
technologies.
Competitive Landscape
The cloud MFT services market is moderately concentrated with the major players adopting strategies like product and technological innovations and mergers and acquisitions to stay ahead of the competition. Some of the key players in the market are IBM Corporation, CA Technologies, Oracle Corporation among others.
Recent Developments
-- June 2019 - Microsoft Corporation and Oracle Corporation announced a
cloud interoperability partnership enabling customers to migrate and run
mission-critical enterprise workloads across Microsoft Azure and Oracle
Cloud. Enterprises can now seamlessly connect Azure services, like
Analytics and AI, to Oracle Cloud services, like Autonomous Database.
Topics Covered
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Need for Secure File Transfer
4.3.2 Need for Reducing Data Transfer Costs and Maintain Corporate Agility
4.4 Market Restraints
4.4.1 Heavy Dependence on Legacy FTPS and Stiff Competition from Competitors
4.5 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Cloud Type
5.1.1 Public
5.1.2 Private
5.1.3 Hybrid
5.2 By End-user Industry
5.2.1 Government
5.2.2 Retail
5.2.3 Manufacturing
5.2.4 Energy Utility
5.2.5 Telecommunication
5.2.6 BFSI
5.2.7 Other End-user Industries
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Axway Software
6.1.3 Citrix ShareFile
6.1.4 Ipswitch File Transfer
6.1.5 Tibco Software
6.1.6 Hightail
6.1.7 Saison Information System Co. Ltd.
6.1.8 CA Technologies Inc.
6.1.9 Oracle Corporation
6.1.10 Accellion Inc.
6.1.11 Software AG
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ubklf6
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