Integration Platform as a Service Market

Global Integration Platform as a Service Market Size & Growth (2023 – 2028)

The global integration platform as a service (iPaaS) market is foreseen to progress from $ 2.87 billion in 2022 to $ 4.9 million in 2028, at a compound annual growth rate (CAGR) of 41.5 % during the conjecture period.

An integration as a service platform (iPaaS) is a managed solution that is mainly employed to host, generate and integrate data and applications in the cloud environment. An iPaaS provides a suite of solutions from infrastructure and data warehousing to application design and DevOps environments. These iPaaS solutions can greatly simplify the integration of data, applications, security and business compliance.

Market players have made continuous efforts to improve their platforms including API management, data centers, b2b integration, workflow automation, among others, considered integration technologies. Currently, iPaaS providers aim to position themselves in the architecture of enterprise applications.

Additionally, with increasing considerations for crucial elements like e-commerce, real-time synchronization and mobility, there is a bigger addition to cloud-based integration. In addition, data-centric and IoT integrations have also reached leading positions on the integration platform to meet the challenges of Big Data.

Today's businesses are increasingly using CRM systems to integrate their customer service systems. However, there is still a gap in the integration of these CRM systems with ERP and BI Analytics. IPaaS solutions allow companies to have a 360-degree view of their customers, help them access confidential information and automate their business processes.

Recent Developments:

• May 2020: Boomi, a Dell Technologies company, announced integration with Amazon EventBridge and the company's platform, expanding its support for event architecture (EDA). Amazon Event Bridge is essentially a serverless event bus that makes it easy to connect application data, integrate software applications as a service, and Amazon Web Services (AWS).
• June 2020: Informatica, the provider of enterprise cloud data management solutions, presented its new intelligence and automation capabilities to its native cloud data management solution. The solutions are powered by the CLAIRE AI engine powered by the company. These capabilities will primarily allow businesses to see a faster return on investments in cloud data warehouses, investments in data lakes and Lakehouse.

Impact of Covid-19 on Integration Platform as a Service Market:

The coronavirus pandemic has affected the cloud industry, and several providers are responding to this sudden increase in demand and the growing interest in cloud infrastructure. Companies in multiple industries have now realized the benefits of cloud computing, beyond the immediate need for COVID-19.

Market growth and trends:

• The rapid growth of electronic commerce used on the b2b and b2c platforms has forced companies to manage several areas, such as online sales, orders, inventory management, among others. IPaaS solutions can provide a perfect ecommerce integration solution primarily for merging core processes, ERP systems and the website. In addition, these integration tools also allow the free flow of data across front-end and back-end systems while significantly reducing IT expenses.
• In addition, these innovative integration tools have also enabled retailers to navigate their online marketplace to connect with their ERP solutions to their web and mobile sales portals without using traditional integration tools. For e-commerce organizations, the growing need to improve their internal data channels, or even if it is first established, IPaaS technology can be an extremely powerful asset.
• The e-commerce industry during this coronavirus epidemic has intensified, mainly due to the fact that millions of people around the world have adopted platforms like Amazon to buy food, essential items and medical supplies. This upward trend is expected to continue, stimulating the market during the outlook period.

Market Drivers and Restraints:

The increasing adoption of iPaaS platforms by small and medium-sized enterprises for integration is the main factor driving the adoption of iPaaS. IPaaS solutions help reduce the cost of ownership, making it easier for companies to adopt these solutions. Additionally, these platforms allow IT or consultants to write custom connectors and exploit the packaged solutions available with the platform or in their different markets to use standard integration with popular services like Salesforce, Oracle, Akamai, and others.

The main challenge in the iPaaS market is the lack of data security solutions. Security in the cloud continues to be a challenge faced by many companies due to the reduced number of security solutions available and the increase in organized threats. Many solution providers offer cloud security solutions, but these solutions do not offer complete security because there is always a risk of data breach.

GLOBAL INTEGRATION PLATFORM AS A SERVICE MARKET REPORT COVERAGE:

Global Integration Platform as a Service Market segmentation:

The global integration platform as a service market is segmented by service, deployment, size of the organization and vertical.

Global Integration Platform as a Service Market By Service:

the market is segmented into cloud service orchestration, data transformation, API management, data integration, real-time monitoring and integration, business-to-business (B2B) integration, and cloud integration, application integration, training and advice, and support and maintenance.

Global Integration Platform as a Service Market By Deployment:

 the market is segmented into public cloud, private cloud, and hybrid cloud.

Global Integration Platform as a Service Market By Size of the Organization:

 the market is segmented into SMEs and large companies.

Global Integration Platform as a Service Market By Vertical:

 the market is segmented into BFSI, healthcare, retail and e-commerce, manufacturing, education, media and entertainment, IT and telecom, government, and others. Retail and e-commerce to see significant growth

Regional Analysis:
The North American Integration Platform as a service market is expected to experience significant growth during the foreseen period, primarily due to the presence of various industry players, along with the rapid implementation of cloud-based services in several end-user verticals in the area. In addition, the rising call for advanced integration services and the augmented workload transfer in the cloud platform, are also foreseen to fuel the demand for IPaaS solutions across the globe.

Key players in the market:

Some of the main players in the global integration platform as a service market are Dell Boomi, Inc. (United States), Informatica Corporation (United States), MuleSoft, Inc. (United States), IBM Corporation (United States), Oracle Corporation (United States), SAP SE (Germany), SnapLogic, Inc. (United States), Celigo, Inc. (United States), Jitterbit, Inc. (United States), Scribe Software Corporation (United States), DBSync (United States States), and Flowgear (South Africa).