TheIntegration Platform as a Service (IPaaS) market industry is projected to grow from USD 5.47 Billion in 2022 to USD 45.21 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 35.20% during the forecast period (2022-2030).
IPaaS is a platform that links otherwise separate systems to offer clients a comprehensive solution. It serves as a communication link between several systems, enabling integration and data sharing. Most businesses use a variety of systems, particularly in their sales, marketing, and service divisions.
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Key Players:
- Informatica Corporation and Dell Boomi Inc. (both of the United States) (U.S.)
- IBM Corporation
- MuleSoft Inc. (based in the 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)
- Flowgear
are all companies that are based in the United States.
By integrating technologies to better communicate data throughout the enterprise, iPaaS facilitates improved communication between various silos.
The integration platform as a service market for integration platforms as a service is expanding on a worldwide scale due to factors including the rising usage of hybrid and multi-cloud infrastructure and the increasing relevance of cloud real-time monitoring in business sectors. Interoperability problems, nevertheless, limit the market's expansion.
Regional Analysis:
In 2021, North America had the highest integration platform as a service market share of 45.3%. due to the presence of several industry players and the expanding use of cloud services in the area. In the worldwide Integration Platform as a Service market during the course of the forecast period, Asia Pacific is anticipated to develop at the highest CAGR of 11.1%. Among the first nations to understand the advantages of cloud leadership and convert their industries into digital corporations were Australia, Singapore, Hong Kong, and South Korea. Businesses in Sri Lanka, Cambodia, and Myanmar, on the other hand, are free to use their current systems and can incorporate them into cloud-first models.
Market segmentation:
The global market for integration platform as a service market is divided into Small and Medium-sized Enterprises and Large Enterprises based on Organization Size (SMEs). Small and medium-sized businesses (SMEs) accounted for 62.3% of the integration platform as a service market in 2021, which was the greatest proportion. Due to their limited resources and lack of marketing and exposure alternatives, SMEs must be cost-effective in order to survive.
The manufacturing, retail, and consumer goods, government and public sector, healthcare and life sciences, banking, financial services, and insurance (BFSI), telecommunications, and other sectors make up the worldwide integration platform as a service market. In 2021, the segment of Banking, Financial Services, and Insurance (BFSI) had the biggest integration platform as a service market share, with xx%. For greater productivity and efficiency, it can automate processes between systems, enable data sharing between SaaS and on-premises systems, and automate data entry procedures.
By Service Type:
- Cloud Service Orchestration
- Data Transformation
- API Management
- Data Integration
- Application Integration
By Deployment:
- public cloud
- private cloud
- hybrid cloud
By Vertical:
- Healthcare
- BFSI
- education
- government
- manufacturing
- media entertainment
- IT telecommunication
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Integration Platform as a Service (IPaaS) Industry Developments:
January 2023: Dell Boomi acquires Mulesoft for $6.5 billion. This acquisition is one of the largest in the IPaaS market and is expected to accelerate Dell Boomi's growth.
February 2023: Informatica launches Cloud Integration Platform, a new IPaaS offering that is designed to simplify and accelerate cloud integrations.
March 2023: Oracle releases Integration Cloud Service, a new IPaaS offering that is designed to help businesses connect their on-premises and cloud applications.
April 2023: Microsoft announces the general availability of Azure Integration Services, a new IPaaS offering that is designed to help businesses connect their applications and data across on-premises and cloud environments.
May 2023: SAP releases Integration Suite on Cloud Platform, a new IPaaS offering that is designed to help businesses integrate their on-premises and cloud applications.
June 2023: Workato announces the general availability of Workato Integration Cloud, a new IPaaS offering that is designed to help businesses automate their workflows and integrate their applications.
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