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.
The increasing demand for integration platform as a service across numerous key and emerging industries is one of the key driving factors that is expected to push the global market. The growing demand for cloud computing applications is a key reason contributing to the surging growth of the global IPaaS market. Additionally, the imperative need for effective processes in order to develop as well as manage enterprise applications and boost the deployment of the cloud-based applications are some of the other key drivers of the global market. On the flip side, the high costs associated with initial investments and issues related to interoperability are some of the major driving factors that cause hindrance to the overall growth of the integration platform as a service market during the forecast period.
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The global integration platform as a service market segmentation is based on the following key dynamics: deployment, vertical, service type, and organization size.
By service type, the market segments into data transformation, data integration, cloud service orchestration, API management, business to business (B2b) and cloud integration, real-time monitoring & integration, support & maintenance, application integration, and training & consulting. The cloud service orchestration segment holds the highest share in the IPaaS market. The segment is further anticipated to continue leading the market over the forecast period. The application integration segment, on the other hand, is projected to grow with the highest rate during the period. This striking growth rate of the segment is due to the booming demand for integration platform services across various industries around the world.
By deployment, the market comprises private cloud, public cloud, and hybrid clouds.
By organization size, the market includes large enterprises and SMEs.
By vertical, the market narrows down into healthcare, manufacturing, BFSI, IT & telecommunication, media & entertainment, education, government, and others.
The global integration platform as a service market covers the following regions in its geographical segmentation: Europe, North America, Asia Pacific, and the Rest of the World (RoW).
The North American region was reported to account for the largest market share and is expected to grow during the forecast period at a drastic pace to keep its spot at the top of the standings. Elsewhere, Asia Pacific is anticipated to grow over the forecast period with the highest CAGR. The growth of the North American region in the coming years is identified to be because of a number of key reasons. Most notably, the growth of the regional market can be attributed to the advancements in technology and the growing adoption of IPaaS application across a number of industry verticals. Moreover, the rising investments being made in cloud-based applications by private and public entities and a considerable shift in workload reported in cloud environments are some of the driving factors of the market in this region. The European region is also expected to gradually grow in size and value in the coming years and stand out as another key market in the global landscape.
The global integration platform as a service market includes a host of key players. This includes names such as Oracle Corporation (U.S.), Dell Boomi, Inc. (U.S.), MuleSoft, Inc. (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Jitterbit, Inc. (U.S.), Informatica Corporation (U.S.), Celigo, Inc. (U.S.), SnapLogic, Inc. (U.S.), Flowgear (South Africa), Scribe Software Corporation (U.S.), DBSync (U.S.), and others.
June 2019, one of the world’s premier provider of remote connectivity services, TeamViewer made the announcement of its online tools being integrated with Zoho CRM.
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