Growing demand for integration platform as a service across various industry verticals is set to drive the growth of the integration platform as a service market. Increasing traction of cloud computing applications is one major factor responsible for fueling the growth of the global integration platform as a service market. Also, the extensive need for efficient processes for developing and managing enterprise applications and increasing deployment of the cloud-based application is another factor boosting the market growth.
As per the analysis of Market Research Future (MRFR), the global integration platform as a service market is anticipated to grow in the forthcoming years. The global market is expected to garner a stunning CAGR of 22% during the forecast period of 2017 to 2023.
Top Drivers and Key Barriers
The IPaaS market is growing on the backing of mounting awareness with regard to IPaaS among business enterprises and the soaring demand for business agility as well as faster scalability. High acceptance of SaaS application, along with the low price of ownership also benefits the market.
With the growing use of cloud-based solutions, cloud integration is slowly becoming a significant challenge for enterprises. Numerous enterprises are opting for secure and reliable cloud integration, which are provided by solution providers called IPaaS. It helps create, manage, and execute integration workflows between on-premises applications as well as cloud-based data protocols.
Soaring demand for integration platform as a service in a large number of industry verticals sets the pace for the integration platform as a service market. Rising popularity of cloud computing applications also induces the growth of the global integration platform as a service market. Apart from this, the extensive requirement for enhanced processes to develop and manage enterprise applications combined with the growing deployment of the cloud-based application can lead the market to greater heights in the near future.
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Some of the prominent players in the global integration platform as a service market are Dell Boomi, Inc. (U.S.), Informatica Corporation (U.S.), MuleSoft, Inc. (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SnapLogic, Inc. (U.S.), Celigo, Inc. (U.S.), Jitterbit, Inc. (U.S.), Scribe Software Corporation (U.S.), DBSync (U.S.), Flowgear (South Africa).
The global IPaaS market has been extensively studied based on regions like Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW).
The report states that North America has the highest chance of attaining the top position in the global market. The regional market is growing in response to technological advancements coupled with high adoption of integration platform as a service application across several industry verticals. A large number of companies in the region are now focusing on data security as well as data prevention, which induces market growth. Also, strong government support leads to substantial market growth.
The APAC market for integration platform as a service is backed by the increasing spending on IT infrastructure, mounting cloud-based applications, and the soaring demand for automation of processes. Other than these, rising trend of BYOD (Bring your own device) along with the mounting awareness about iPaaS among enterprises is resulting in the tremendous market growth in the region. Rising focus on reducing the ownership cost has also led to market expansion in the region over the years.
In Europe, surging number of connected devices, rising trend of Bring Your Own Device (BYOD) paired with expanding data traffic is boosting the demand for the iPaaS market. The increasing need among organizations to streamline business processes as well as digital transformation is another major factor that is stimulating the growth of the global iPaaS market.
The global market for integration platform as a service has been analyzed on the basis of segments like service type, deployment, organization size, and vertical.
The service types mentioned in the report are data transformation, cloud service orchestration, data integration, API management, business to business (B2B) & cloud integration, real-time monitoring & integration, training & consulting, support & maintenance, and application integration.
Deployment-based segments in the market are private cloud, public cloud, and hybrid cloud.
Considering the organization size, the market segments are small and medium enterprises (SMEs) and large enterprises.
Vertical-wise, the market has been considered for healthcare, BFSI, education, manufacturing, government, IT & telecommunication, media & entertainment, and others.
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