New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Integration Platform As A Service Global Market Report 2023" - https://www.reportlinker.com/p06319910/?utm_source=GNW
, SnapLogic Inc., Software AG, elasticio, Adaptris, Seeburger AG, Fujitsu, Zapier, Flowgear, DBSync Ltd and Seeburger AG.
The global integration platform as a service market grew from $3.29 billion in 2022 to $4.29 billion in 2023 at a compound annual growth rate (CAGR) of 30.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The integration platform as a service market is expected to grow to $13.28 billion in 2027 at a CAGR of 32.6%.
The integration platform as a service (iPaas) market includes revenues earned by entities by providing integration platform for boosting the hybrid data flows, improving operational workflows, synchronizing data, and providing better visibility.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The integration platform as a service refers to a group of automated technologies that combines software programs that are installed in various contexts.The integration platform automates the integration activities that make connecting applications and deployment data in any environment easy.
Using IPAAS can build and deploy the integration in the cloud without installing any middleware or hardware.
North America was the largest region in the integration platform as a service market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the integration platform as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of integration platforms as a service are API management, B2B integration, data integration, cloud integration, and application integration.API management integration platform as a service focus on API Management.
It is a process of managing APIs that connects data and applications across clouds and enterprises.These integration services are deployed in private, hybrid, and public clouds.
Education, healthcare and life science, government and public sector, consumer goods and retail, banking, financial services, and insurance, and other industry verticals use integration platform as a service.
The increasing inclination towards cloud-based solutions across the globe is expected to drive the growth of the integration platform as a service (iPaas) market.Due to pandemics, demand for cloud-based solutions and services increased due to the sudden shutdown of schools, corporates, enterprises, and more.
Quick deployment, data security, automatic software updates, unlimited storage capacity, and more are some advantages gained from cloud-based solutions.According to Gartner, a management consultancy firm, cloud computing expected to account for more than 45% of IT spending on system infrastructure, infrastructure software, application software, and business process outsourcing by 2024.
The increase in the spending on cloud services shows the demand for cloud-based solutions. Therefore, the increasing demand for cloud-based solutions across the globe drives the market for integration as a service.
The use of artificial intelligence (AI) and machine learning (ML) are key trends gaining popularity in the integration platform as a service (iPaas) market.The demand for AI and ML has increased in the past few years.
Artificial Intelligence with machine learning solves the data integration issues.For instance, in March 2021, IBM, an American multinational technology corporation, and Pandio, a US-based AI orchestration platform, developed hybrid integration solutions that automate the time-consuming process of integrating corporate programs like Customer Relationship Management (CRMs) and Enterprise Resource Planning (ERPs) using AI.
The most recent Pulsar-based solutions deploy interfaces more swiftly and precisely because of automatic data mapping, data format identification, and translation. These integration solutions incorporate all currently used integration technologies as necessary.
In May 2021, Jitterbit, a US-based API transformation company, acquired eBridge Connections for an undisclosed amount. With this acquisition, both companies will provide integration solutions around e-commerce integration and EDI integration on the market, helping customers accelerate their digital transformation and reap massive time efficiencies. eBridge Connections is a Canada-based company offering integration platform as a service (iPaas) for seamless flow of data on-premises or cloud e-commerce, EDI, ERP, and CRM systems.
The countries covered in the integration platform as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The integration platform as a service market research report is one of a series of new reports that provides integration platform as a service market statistics, including integration platform as a service industry global market size, regional shares, competitors with a integration platform as a service market share, detailed integration platform as a service market segments, market trends and opportunities, and any further data you may need to thrive in the integration platform as a service industry. This integration platform as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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