The integration platform as a service market is not just growing, it is accelerating. Integration platform as a service is a cloud service that provides a platform to support applications that involve a combination of data sources and cloud-based applications and others. Dell Boomi, Inc., Informatica Corporation, MuleSoft, Inc., IBM Corporation, Oracle Corporation, and SAP SE are a few key players in the global integration platform as a service market.
Growing demand for integration platform as a service across various industry verticals is set to drive the growth of the integration platform as a service market. Increasing traction of cloud computing applications is one major factor responsible for fueling the growth of the global integration platform as a service market. Also, the extensive need for efficient processes for developing and managing enterprise applications and increasing deployment of the cloud-based application is another factor boosting the market growth.
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Major Key Players
- Dell Boomi, Inc. (U.S.),
- Informatica Corporation (U.S.),
- MuleSoft, Inc. (U.S.),
- IBM Corporation (U.S.),
- Oracle Corporation (U.S.),
- SAP SE (Germany),
- SnapLogic, Inc. (U.S.),
- Celigo, Inc. (U.S.),
- Jitterbit, Inc. (U.S.),
- Scribe Software Corporation (U.S.),
- DBSync (U.S.),
- Flowgear (South Africa).
According to Market Research Future Analysis, the Global Integration Platform as a service market is estimated to generate revenue of approximately USD 2 Billion by 2023 growing at a CAGR of 22% during the forecast period 2017-2023.
In June 2018, TIBCO Software Inc. announced its intention to acquire Scribe Software, an innovative, cloud-based integration platform-as-a-service (iPaaS). This acquisition will enable customers to employ a single solution to address a wide range of integration scenarios, including application, data, and API projects, to interconnect everything, whether in the cloud, on-premises, or on billions of edge devices. This strategically acute acquisition enables TIBCO Cloud Integration to enter new market segments, widen its iPaaS service market, and strengthen its position globally.
The consumer electronics sub-segment of the global integration platform as a service application market is expected to grow at the highest rate during the forecast period. This growth is owing to the increasing implementation of integration platform as a service into smartphones, tablets, and wearable devices to detect gases such as alcohol, carbon monoxide, carbon dioxide, and others. Whereas, the integration platform as a service market for the oil & gas industry is expected to hold the largest market share of the market. This is owing to the increasing number of oil & gas projects and continuous increase for oil & gas industries from emerging economies.
The global integration platform as a service market is spread across Asia Pacific, North America, Europe, and Rest of the World.
It has been observed that North America is anticipated to hold the largest share of the market, whereas Asia Pacific is projected to grow at the highest rate during the forecast period. The growth of the market in North America region is attributed to technological advancements along with increased adoption of integration platform as a service application across various industry verticals. Large investments in research & development, early adoption of new & emerging technologies, coupled with the presence of a large number of players in this region also leave a colossal impact on the market.
The key reasons for the high growth rate in Asia-Pacific are increased spending on IT infrastructure, rising cloud-based applications, and also growing demand for automation of processes. Apart from these factors, growing BYOD (Bring your own device) trend, rising awareness about iPaaS among enterprises along with growing focus towards reducing the ownership cost are other factors responsible for the humungous growth observed in this region. Moreover, growing focus of the companies towards data security and data prevention coupled with growing government support in various countries in Asia-Pacific drive the iPaaS market and will continue to do so during the forecast period.
The global integration platform as a service market is segmented by service type, deployment, organization size and vertical. Based on the service type, the market is segmented into cloud service orchestration, data transformation, API management, data integration, real-time monitoring & integration, business to business (B2B) & cloud integration, application integration, training & consulting and support & maintenance. Based on the deployment, the market is segmented into the public cloud, private cloud, and hybrid cloud. Based on the organization size, the market is segmented into SMEs and large enterprises. Whereas, based on the vertical, the market is segmented into BFSI, healthcare, manufacturing, education, media & entertainment, IT & telecommunication, government, and others.
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- Technology Investors
- Research/Consultancy firms
- Government Bodies
- Third-party vendors
- Application Design & Development Service Providers
- System Integrators
- Training & Education Service Providers
- Data Integration Service Providers
- Managed Service Providers
- Data Quality Service Providers
LIST OF TABLES
Table 1 Global Integration Platform as a Service Market: By Region, 2017-2023
Table 2 North America Integration Platform as a Service Market: By Country, 2017-2023
Table 3 Europe Integration Platform as a Service Market: By Country, 2017-2023
Table 4 Asia-Pacific Integration Platform as a Service Market: By Country, 2017-2023
Table 5 Middle East & Africa Integration Platform as a Service Market: By Country, 2017-2023
Table 6 Latin America Integration Platform as a Service Market: By Country, 2017-2023
LIST OF FIGURES
FIGURE 1 Global Integration Platform as a Service Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Integration Platform as a Service Market
FIGURE 4 Value Chain of Global Integration Platform as a Service Market
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