According to a new report by Expert Market Research titled, “Integration Platform as a Service (iPaaS) Market Size, Share, Analysis, Report and Forecast 2023-2028″,gives an in-depth analysis of the global integration platform as a service (iPaaS) market. It assesses the market based on its segments like deployment models, service types, organisation sizes, industries, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also examines the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Integration Platform as a Service (iPaaS) Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 38%
The increasing demand for hybrid and multi-cloud infrastructure in the manufacturing sector, aimed toward maximising production and cost savings, is driving the demand for iPaaS. The increasing application of best-of-breed apps by major manufacturers to bolster supply chains and enhance efficiency of manufacturing operations is anticipated to propel the demand for cloud integration software in the forecast period.
The North American region accounts for a significant share in the integration platform as a service market owing to the higher IT and digital resources in the region. It allows enterprises to focus on large strategic initiatives, thereby, boosting the demand for integration software.
Integration Platform as a Service (iPaaS) Industry Definition and Major Segments
Integration Platform as a Service (iPaaS) is defined as a platform which creates and deploys integration within the cloud and enterprise. An iPaaS allows users to connect applications in the cloud or on-premises by developing an integration. Moreover, with an iPaaS, installation of any hardware or middleware to facilitate integration is not required. An iPaaS platform finds applications in numerous industries where cloud-based software is high in demand.
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On the basis of deployment model, the market can be segmented into:
- Private
- Public
- Hybrid
Based on service type, the integration platform as a service market is divided into:
- Integration Flow Development and Life Cycle Management Tools
- Data Mapping and Transformation
- Routing and Orchestration
- Internet of Things (IOT)
- API Life Cycle Management
- Business to Business (B2B) And Cloud Integration
- Real-Time Monitoring and Integration
- Others
The market, based on organisation size, is bifurcated into:
- Small and Medium Enterprises
- Large Enterprises
Based on industry, the market is classified into:
- BFSI
- Government and Public Sector
- Consumer Goods and Retail
- Education
- Media and Entertainment
- Healthcare and Life Sciences
- Manufacturing
- Telecommunication and IT
- Others
The regional markets for integration platform as a service (iPaaS) include:
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
Integration Platform as a Service (iPaaS) Market Trends
The key trends in the market for integration platform as a service (iPaaS) include rising investments in automation in industries such as BFSI, healthcare, and life sciences, among others. The rapid digital transformation in emerging economies owing to the growing competition among cloud-based providers is anticipated to be a significant trend in the market.
Furthermore, there are increasing investments by the transportation and logistics companies in technologies such as data mapping, routing, real-time monitoring and integration, and the Internet of things (IoT). These investments are likely to provide impetus to the market in the coming years.
Key Market Players
The major players in the market are Dell Boomi, Inc., Celigo, Inc., Informatica LLC, Snaplogic, Inc., TIBCO Software, Inc., and Jitterbit, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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