%20Market%20-%201.jpg "Integration Platform as a Service (IPaaS) Market")
Integration Platform as a Service Market Overview:
The Integration 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). An estimated 22 percent annual growth rate of CAGR
for the Integration Platform As A Service Market is predicted between 2023
and 2032. Integration platform as a service (IPAS) is a cloud service that
provides a platform to serve applications that use a mix of datasets,
cloud-based services, and other components. Various firms are projected to use
these multi-cloud and hybrid methods over the projected timeframe since they
are hesitant to rely on a single cloud provider.
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Key players:
Key Companies in the Integration Platform as a
Service (IPaaS) market includes,
- 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.)
Demand for platforms as a service for integration
has been increasing across various business sectors, fueling the market's
expansion. An important driving force behind the expansion of the integration
platforms as a service industry is the rising relevance of real-time cloud
surveillance in business. Another factor driving the market is the increasing
use of cloud-based apps, which fill a need left by ineffective procedures for
developing and managing corporate applications. There may be more demand for Integration
Platform as a Service if businesses are aware of the advantages.
By the year 2020, enterprises throughout the world
expect to see an increase in cloud-based solutions investments to facilitate
remote working. As a result, the requirement for platform integration services
is predicted to expand faster than the expansion of the integration platform as
a service market owing to the increasing usage of platforms and cloud solutions
worldwide.
Market Segmentation:
The worldwide Integration Platform as a Service
market forecast was categorized based on service type, organization size,
deployment, vertical, and geography. The BFSI sector is expected to play a
significant role in developing the iPaaS market over the projected period.
The BFSI sector is flourishing thanks to
technological advances that redefine consumer and business interaction. In the
wake of BFSI's breakthroughs and new apps, people are now employing a multitude
of uses to handle their money. To enhance efficiency and effectiveness across several
systems, it is possible to automate the input of routine data and the sharing
of data across SaaS and on-premises systems. On-premises and cloud services are
intricately intertwined in the BFSI industry, presenting significant
development potential for the iPaaS market. One of the most important aspects
of banks' business strategy is managing all integrated activities from a single
location while reducing costs.
Regional Classification:
North America currently has the greatest market
share for iPaaS since significant corporations widely use cloud computing
technologies in the region. SaaS and IaaS, two additional software-defined
platforms, are making inroads into the iPaaS industry. Oracle and IBM, for
example, are developing iPaaS solutions to take advantage of the growing
industry.
There has been an increase in the market for cloud
integration solutions in Europe, which has led to an increase in demand for
iPaaS services. When it comes to iPaaS, the Asia Pacific area is just behind
Europe. As more and more people begin to use managed services and integration
services, this industry is predicted to develop quickly.
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Industry News
In October 2021, Boomi will announce a new charity
contribution initiative managed by its Boomiverse user community, which will
donate $100,000 to charitable groups working to alleviate homelessness,
increase diversity in STEM fields, and provide humanitarian relief throughout
the world other causes.
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