The global application development and integration market is subject to witness a substantial growth due to the rising focus towards reduction of operational cost with implementation of an application development and integration system across an enterprise. Adoption of an enterprise application integration strategy is credited to reduced risk and interoperability among IT applications and systems. Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the application development and integration market.
Increasing demand for an efficient application integration strategy and cost effective solution are expected to foster the growth of the market. The software development and application solutions helps to derive a unified structure that operates with a perfect conjunction. Thus, limiting scope for interoperability issues such as data leaks that can lead to security loophole. These factors are expected to favor the growth of market in the near future. In addition, application development and integration solution allows streamlining of various business operation by executing a coherent and well-defined integration strategy with broad ranges of applications that are located within across an enterprise.
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Growing adoption of hybrid application integration technology is expected to set up key market trends for the application development and integration sector over the upcoming years. In addition, high level of complexity involved with data integration and collaboration standards in across different industry verticals is expected to generate high-end demand for application development and integration solutions.
The market is broadly categorized into two major segments based on the application type such as application development and application integration. The application development is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years.
Growing popularity of the application development segment is attributed to the increasing demand for high performance and cost effective solutions. The application integration segment has also witnessed substantial growth owing to the shifting trend towards hybrid application integration technology.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in IT sector, increase in the number of research & development activities in the region and existence of well-established IT infrastructure.
Asia-Pacific region is predicted to hold major market share in the application development and integration market with massive growth in forecast period. Countries such as India, China, Japan and Singapore are leading the Asia-Pacific market with strong economic growth in the region, rapid growth IT sector, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the application development and integration market are Accenture, Inc., BAE Systems Co., Fujitsu Ltd., Hewlett Packard Enterprises Co., IBM Co., Lockheed Martin Co., Trianz Holdings Group, Oracle Co., Infosys Ltd., and Microsoft Co.
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The market is divided into the following segments based on geography:
Global Application Development and Integration Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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