IPaaS (Integration Platform as a Service) Market - Forecast(2023 - 2028)
The Global Integration as a Service Market is estimated to reach $6.1 billion by 2025, growing at a CAGR of 36.4% from 2020 to 2025. IPaaS is one of the most significant integration platforms as service technologies with broader market prospects. An iPaaS is a cloud based integration technique that links applications, data and processes faster as per the requirement of the users. Furthermore, on-premises applications along with cloud-to-cloud, cloud-to-ground and ground-to-ground integrations are achieved by iPaaS technology very easily. IPaaS technology is used widely by various large enterprises to increase the value of their IT investments, future proof their integration solutions and handle the integration requirements as per the business environment. Increased efficiency and productivity of iPaaS, cost efficiency, scalability and greater business agility among others are driving the growth of Integration Platform as a Service Market.
- Adoption of new cloud application iPaaS by various enterprises and development along with wide use of advanced iPaaS technologies by the organizations are driving the growth of the market.
- By segment Information Technology held the major share in the Integration Platform as a Service market in 2019 owing to the wide use of the iPaaS software tools and software analytics by different enterprises.
- North America is expected to dominate the global Integration platform as a service Market in the forecast period 2020-2025 owing to the huge adoption of iPaaS technology by organizations. Furthermore, growing use of iPaaS technology within the enterprises for better communications is also driving the growth of the market in this region.
- Enterprise Service Bus (ESB) is a switchboard that allows multiple applications to communicate and transfer data along with software in organizations. Many enterprises are adopting ESB owing to its scalability, multitenancy, data governance and application integration features. The adoption of ESB by various enterprises as an alternative for iPaaS is hindering the growth of the market.
By Deployment- Segment Analysis
By deployment Integrated Platform as a Service Market is segmented into public cloud, private cloud and hybrid cloud. By deployment private cloud is dominating the other segments owing to its more use by the large organizations as compared to the public cloud used by smaller organizations. In private cloud all the data is protected behind a firewall. The organizations having expensive data centers deploy private cloud owing to its increased level of security and also due to the sharing of resources with the limited organizations. Private cloud due to its increased data security and great use in large organizations is driving the growth of the iPaaS market.
Application - Segment Analysis
By application the market is segmented into healthcare, manufacturing, telecommunications, Information Technology and others. Information Technology field is witnessing significant growth in iPaaS market owing to the software products and services used by various enterprises. Many organizations are providing data integration and analytics software for real time communications for business- to-business, business-to-customer and business-to-employee. In addition, Cloud integration solutions for connecting data and applications through application program interface (API) are provided by the organizations to the various enterprises. All the technological software development in cloud applications through iPaaS in the IT sector is boosting the growth of the market.
Geography - Segment Analysis
Global Integration Platform as a Service Market is dominated by North America with a share of 41.1% in 2019. North America is dominating the market owing to its large number of industry players and rapid adoption of cloud based services by the enterprises. In North America major key players are deploying the cloud services in an enormous way for their various business applications thereby increasing the growth of the market. Furthermore, adoption of iPaaS is increasing in North American enterprises owing to the need for business agility, faster deployment of cloud based applications, and lowered administrative overheads. These factors are driving the growth of the market in North America region.
Drivers – Integration Platform as a Service Market
- Rise in the growth of iPaaS solution based technology by the enterprises:
IPaaS provides solution to improve communication and connection between all data and applications within the enterprises. Many of the enterprises provides iPaaS solution with application and data integration, application deployment, business to business management within a single master hub for better communication within a company driving the growth of the market. Many companies are launching cloud integration through its products which offers multitenancy for integration. These products launched by the various enterprises for better communications are driving the growth of the market.
- Growth due to internal and external benefits of IPaaS:
Deployment of iPaaS by the companies enables them to take internal and external benefits of the integration technology. Internal benefits like real time processing, increased efficiency, centralized management, improved security and compliance of iPaaS is enabling technological growth increasing the use of iPaaS. External benefits of iPaaS like organized data, better workflow and improved communications are used by various companies thereby driving the growth of the market.
Challenges – Integration Platform as a Service Market
Adoption of iPaaS has a risk of accidental data exposure by human error, who doesn’t have enough information about app integration, data security and compliance reducing the use of iPaaS technology.
Larger organizations face problems in iPaaS technology as there is confusing array of iPaaS options which is hindering the growth of the market.
Service Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Integration Platform as a Service Market are given in this report. Integration Platform as a Market is dominated by major companies such as Microsoft Co., Oracle Co., Mulesoft, LLC. Snaplogic, Workato, Jitterbit, Inc., Dell Boomi, Informatica Software Company, IBM Co., Zapier INC. among others.
- March 2, 2020- IBM Corporation and Infosys Collaborated to provide digital transformation for the various enterprisers through the IBM public Cloud Services.
- February 24, 2020- Dell Boomi Technologies announced ICoE services to enable enterprises managing integrations for their business.
- September 24, 2019- Alfresco Software Inc. launched Alfresco cloud platform as a service technology for the deployment by the various enterprises.