The Integration Platform As A Service by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Integration Platform As A Service, The integration platform as a service market size has grown exponentially in recent years. It will grow from $4.13 billion in 2023 to $5.35 billion in 2024 at a compound annual growth rate (CAGR) of 29.5%. The growth in the historic period can be attributed to cloud adoption and evolution, shift towards hybrid it environments, complexity of enterprise applications, api economy and api-centric integration, rapid growth in saas adoption..
The integration platform as a service market size is expected to see exponential growth in the next few years. It will grow to $15.5 billion in 2028 at a compound annual growth rate (CAGR) of 30.5%. The growth in the forecast period can be attributed to continue adoption of hybrid and multi-cloud environments, increasing demand for real-time data integration, integration of ai and machine learning capabilities, scalability and flexibility requirements, ecosystem expansion and connectivity offerings.. Major trends in the forecast period include continuous improvement in integration monitoring and analytics, shift towards citizen integrators and self-service models, growing importance of data governance and compliance, focus on api-centric integration, acceleration of digital transformation initiatives..
The increase in inclination towards cloud-based solutions across the globe is expected to drive the growth of the integration platform as a service (iPaas) market. Due to pandemics, demand for cloud-based solutions and services increased due to the sudden shutdown of schools, corporates, enterprises, and more. Quick deployment, data security, automatic software updates, unlimited storage capacity, and more are some advantages gained from cloud-based solutions. According to Gartner, a management consultancy firm, cloud computing expected to account for more than 45% of IT spending on system infrastructure, infrastructure software, application software, and business process outsourcing by 2024. The increase in the spending on cloud services shows the demand for cloud-based solutions. Therefore, the increasing demand for cloud-based solutions across the globe drives the market for integration as a service.
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The integration platform as a service market covered in this report is segmented –
1) By Cloud: Private Cloud, Hybrid Cloud, Public Cloud
2) By Service Type: API Management, B2B Integration, Data Integration, Cloud Integration, Application Integration, Other Services
3) By Verticals: Education, Healthcare And Life Science, Government And Public Sector, Consumer Goods And Retail, Banking, Financial Services, And Insurance, Other Verticals
The use of artificial intelligence (AI) and machine learning (ML) are key trends gaining popularity in the integration platform as a service (iPaas) market. The demand for AI and ML has increased in the past few years. Artificial Intelligence with machine learning solves the data integration issues. For instance, in March 2021, IBM, an American multinational technology corporation, and Pandio, a US-based AI orchestration platform, developed hybrid integration solutions that automate the time-consuming process of integrating corporate programs like Customer Relationship Management (CRMs) and Enterprise Resource Planning (ERPs) using AI. The most recent Pulsar-based solutions deploy interfaces more swiftly and precisely because of automatic data mapping, data format identification, and translation. These integration solutions incorporate all currently used integration technologies as necessary.
The integration platform as a service market report table of contents includes:
- Executive Summary
- Integration Platform As A Service Market Characteristics
- Integration Platform As A Service Market Trends And Strategies
- Integration Platform As A Service Market – Macro Economic Scenario
- Global Integration Platform As A Service Market Size and Growth
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- Global Integration Platform As A Service Market Competitive Benchmarking
- Global Integration Platform As A Service Market Competitive Dashboard
- Key Mergers And Acquisitions In The Integration Platform As A Service Market
- Integration Platform As A Service Market Future Outlook and Potential Analysis
- Appendix
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