The global Integration Platform as a Service (IPaaS) Market is anticipated at USD 2.42 Billion in the year 2021 and is projected to reach USD 5.49 Billion by 2028, with a CAGR of 12.4% over the forecasted period.
Platform as a Service for Integration (iPaaS) is a collection of automation tools for linking software applications from various industries. It is a set of cloud services that enable the creation, implementation, and governance of unified flows that connect any mix of on-premises and cloud-based processes, services, applications, and data across one or more enterprises. Platform as a Service for Integration provides cloud services for integration scenarios including applications, data, processes, and service-oriented architecture (SOA). It’s a cloud-to-cloud, cloud-on-premises, on-premises-on-premises, and B2B integration platform. It allows for real-time integration and scaling to meet the massive demands of mobile, EDI, and ETL (extract, transform, and load) environments. The market for Integration Platform as a Service (IPaaS) is expected to grow substantially during the forecasted period.
Market Dynamics and Factors:
The high cost, long delivery times, and high complexity of infrastructure design for Integration via traditional on-premises ways go counter to the concept of lean management and approaches. IPaaS is becoming more popular due to the market’s rapid innovation capabilities and the requirement for a lean and faster-integrated platform. Many significant businesses in the information technology and cloud computing industries have ventured and invested in this industry due to the exponential rise in user subscriptions over the last few years. In 2021, 98 percent of enterprises aim to use several hybrid clouds, according to IBM Corp. By boosting flexibility to operate between both public and private clouds, a hybrid cloud gives the benefits of both. Furthermore, it allows businesses to protect sensitive data by storing it in the private cloud while also storing public data in the public cloud. As the number of specialized services grows, so will the requirements for unique applications and functionalities.
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Market trends appear to be moving ahead of the initial data and process synchronization structure, which was largely focused on applications and data sources. The market is currently focused on Application Program Interface (API) development, IPaaS deployment in the massive Internet of Things (IoT) sector, and big data analytics. The market is expected to rise due to innovation in integration technologies aimed at increasing compatibility across multiple sectors.
Integration Platform as a Service (IPaaS) Market Report Highlight:
- By Type, the API Management segment is expected to be dominating the Platform as a Service (IPaaS) Market. APIs (application programming interfaces) are tools that enable businesses to put data to work by motivating creative developers to build new business opportunities and improve existing products, systems, and operations.
- By Application, BFSI is dominating the Platform as a Service (IPaaS) Market. BFSI has been disrupting the market with new applications and innovations to the point that people are managing their accounts using a variety of apps.
- North America dominates the Integration Platform as a Service (IPaaS) Market. Increased investments in cloud-based applications and considerable workload changes to cloud environments are driving growth in North America.
- The European region is one of the fastest-growing regions in the Integration Platform as a Service (IPaaS) Market. The Integration Platform as a Service market in Europe is booming, thanks to the rising demand for cloud integration solutions that don’t require additional hardware.
Major Key Players for Integration Platform as a Service (IPaaS) Market:
- Dell Boomi
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- MuleSoft LLC
- Jitterbit Inc
- Workato Inc
- SnapLogic Inc
- Software AG
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Key Industry Development:
October 2021, Salesforce, Propel, and Jitterbit, an API transformation firm, have formed a strategic alliance to standardize and simplify interactions between Propel and ERP systems. Propels chooses Jitterbit for integrations with ERP solutions that cater to small, medium, and mid-market manufacturers, such as NetSuite, Infor, and Microsoft Dynamics.
September 2021, SnapLogic has launched the most recent version of its ground-breaking new SnapLogic Flows solution. SnapLogic Flows makes it simple for sales, marketing, finance, and HR teams to create new connectors and automation that support their everyday operations, answer their most essential business demands, and reduce time-to-market and outcomes.
Integration Platform as a Service (IPaaS) Market Segmentation:
- Cloud Service Orchestration
- Data Transformation
- API Management
- Data Integration
- Real-Time Monitoring & Integration
- media & entertainment
- IT & telecommunication
For this report, Introspective Market Research has segmented the Integration Platform as a Service (IPaaS) Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Integration Platform as a Service (IPaaS) Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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