Integration Platform as a Service Market Revenue, Trends, Opportunities and Future Prospects
by Rahul Gautam ManagerAccording to P&S Intelligence, the Global Integration Platform as a Service Market is projected to reach $4,054 million by 2022, growing at a CAGR
of 40.4% during 2017 - 2022.
Global iPaaS market to grow in double digits
As per the research, the global iPaaS market has been growing in
double-digits. iPaaS is a cloud integration platform that integrates
application and databases. It can also be defined as a set of cloud based suit,
which helps in enabling end-users to develop, manage, govern and integrate
application and services as a single, integrated infrastructure. The increasing
demand across various end-use industries including telecommunication, BFSI,
manufacturing, healthcare & life sciences, education, consumer goods &
retail, government & public sector and media & entertainment coupled
with growing awareness about iPaaS among enterprises, is likely to spearhead
the growth of the global iPaaS market.
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Insights on market segments
Telecommunication contributes with highest revenue to the iPaaS market,
while BFSI, healthcare and life sciences, government and public sector,
manufacturing, media and entertainment, consumer goods and retail and education
are the other major types of iPaaS. The market for iPaaS in government &
public sector is likely to register the highest growth during the forecast
period on account of growing data traffic, rising government spending towards
advance technology and growing security concern. On the other hand, cloud
service orchestration accounts for the largest revenue in global iPaaS market,
and is further expected to be the leading segment on account of growing focus
of the companies to optimize workload and maximize cloud investments.
Geographically, North America has been the largest market for iPaaS and
Asia-Pacific has been the fastest growing regional market. The market in the
region is also expected to grow at rapid pace during the forecast period. The
U.S. stands as the largest market globally, whereas the market in India has
been growing at highest pace.
iPaaS enables the business organizations to gain adaptability, flexibility
and balance. Business agility refers to distinctive qualities of organizations
to allow them to respond rapidly to the changes in the internal and external
environment without losing the vision of the enterprise. With rising
competition, the companies are focusing towards innovation and technological
advancement to reduce the inaccurate, or obsolete information, which is driving
the need for iPaaS among business organizations.
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The research states that the global iPaaS market is moderately competitive,
with players investing heavily in innovation and research & development for
the enhancement in their wired and wireless communication to increase their
market share. Some of the key players operating in the global iPaaS market are
Informatica, Boomi Inc., MuleSoft, Inc., SnapLogic, Inc., Celigo, Inc.,
Jitterbit, Inc., IBM Corporation, Oracle Corporation, DBSync Ltd and Scribe
Software Corporation.
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Created on Jul 5th 2019 03:22. Viewed 351 times.