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Integration Platform as a Service Market Overview, Significant Growth, Opportunities, Development, Regional Trends and Potential of the Industry from 2018-2023(March 14, 2018)
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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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.
Some of the prominent players in the global integration platform as a service market are 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.
The global integration platform as a service market is segmented by service type, deployment, organization size and vertical. Based on 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. The cloud service orchestration sub-segment is expected to hold the largest market share of the integration platform as a service market during the forecast period. Whereas, the application integration service sub-segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing demand for integration platform services across various industry verticals. However, the high initial investments and interoperability issues are major factors that could cause hindrance in the growth of global integration platform as a service market.
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The global integration platform as a service market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for 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 and increased adoption of integration platform as a service application across various industry verticals.
The North America region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. The growth in North America region is being dominated by rising investments in cloud-based applications and a considerable shift in workload towards cloud environments. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of integration platform as a service in media & entertainment industry is another major factor driving the growth of the integration platform as a service market in the region.
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