Integration Platform As A Service Global Market Report 2024

Integration Platform as a Service (iPaaS) encompasses a set of automated technologies that bring together software programs installed in diverse contexts. This platform streamlines integration tasks, facilitating the seamless connection of applications and deployment data in various environments. Utilizing iPaaS enables the creation and deployment of integrations in the cloud without the need for middleware or hardware installation.

The primary categories of Integration Platform as a Service include API management, B2B integration, data integration, cloud integration, and application integration. API management within iPaaS specifically concentrates on the management of APIs, overseeing the connections between data and applications across both enterprises and cloud environments. These integration services can be implemented in private, hybrid, or public clouds. Sectors such as education, healthcare, life sciences, government, public services, consumer goods, retail, banking, financial services, insurance, and other industry verticals extensively leverage Integration Platform as a Service.

The integration platform as a service market research report is one of a series of new reports that provides integration platform as a service market statistics, including integration platform as a service industry global market size, regional shares, competitors with a integration platform as a service market share, detailed integration platform as a service market segments, market trends and opportunities, and any further data you may need to thrive in the integration platform as a service industry. This integration platform as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The integration platform as a service market size has grown exponentially in recent years. It will grow from $4.13 billion in 2023 to $5.35 billion in 2024 at a compound annual growth rate (CAGR) of 29.5%. The expansion during the historical period can be ascribed to the adoption and evolution of cloud technology, a transition towards hybrid IT environments, the intricate nature of enterprise applications, the emergence of the API economy, and the integration focused on APIs. Additionally, the swift increase in the adoption of Software as a Service (SaaS) has played a pivotal role in this growth.

The integration platform as a service market size is expected to see exponential growth in the next few years. It will grow to $15.5 billion in 2028 at a compound annual growth rate (CAGR) of 30.5%. The anticipated growth in the forecast period can be credited to the ongoing adoption of hybrid and multi-cloud environments, a rising need for real-time data integration, the incorporation of AI and machine learning capabilities, scalability and flexibility requirements, as well as the expansion of ecosystems and connectivity offerings. Noteworthy trends during this forecast period encompass continual enhancements in integration monitoring and analytics, a shift towards citizen integrators and self-service models, an increasing emphasis on data governance and compliance, a focus on API-centric integration, and an acceleration of digital transformation initiatives.

The global inclination towards cloud-based solutions is poised to be a driving force behind the growth of the Integration Platform as a Service (iPaaS) market. The surge in demand for cloud-based solutions and services, spurred by the pandemic-induced shutdowns of schools, corporations, and enterprises, has led to an increased appreciation for the benefits of cloud technology, including quick deployment, data security, automatic software updates, and unlimited storage capacity. According to Gartner, a management consultancy firm, cloud computing is anticipated to represent over 45% of IT spending on system infrastructure, infrastructure software, application software, and business process outsourcing by 2024. The notable rise in cloud services expenditure underscores the global demand for cloud-based solutions, thereby propelling the iPaaS market.

The growth of the Integration Platform as a Service (iPaaS) market is expected to be further fueled by the expansion of e-commerce channels. E-commerce channels encompass various online platforms, websites, or marketplaces where businesses sell their products or services to customers. The diverse nature of e-commerce channels requires effective integration and synchronization of data, orders, inventory, and customer information. For example, in the second quarter of 2023, the United States Census Bureau reported an estimated retail e-commerce sales of $277.6 billion, representing a 2.1% increase from the first quarter and a substantial 7.5% increase from the same quarter in 2022. This growth in e-commerce channels is anticipated to drive the Integration Platform as a Service market forward.

The integration platform as a service (iPaaS) market is witnessing the rising adoption of artificial intelligence (AI) and machine learning (ML) as key trends. The demand for AI and ML has seen a notable increase in recent years, particularly in solving data integration challenges. For example, IBM and Pandio collaborated to develop hybrid integration solutions using AI that automate the integration of corporate programs such as Customer Relationship Management (CRMs) and Enterprise Resource Planning (ERPs). These solutions leverage Pulsar-based technology to deploy interfaces more swiftly and precisely through automatic data mapping, data format identification, and translation, encompassing all current integration technologies.

In May 2021, Francisco Partners and TPG Capital jointly acquired Boomi for $4 billion in cash, making an impactful entry into the iPaaS market. This strategic acquisition aims to capitalize on the iPaaS market's growth fueled by the increasing adoption of cloud solutions and platforms by businesses. Boomi, a provider of cloud-based iPaaS, offers the AtomSphere platform, facilitating seamless information sharing among companies' systems of record.

In May 2021, Jitterbit, an API transformation company, acquired eBridge Connections for an undisclosed amount. This acquisition positions both companies to provide integration solutions focusing on e-commerce and EDI integration, supporting customers in accelerating their digital transformation and achieving significant time efficiencies. eBridge Connections, a Canada-based company offering iPaaS, specializes in enabling the seamless flow of data across on-premises or cloud e-commerce, EDI, ERP, and CRM systems.

Major companies operating in the in the integration platform as a service market report are Boomi Inc., Informatica Inc., SAP SE, Oracle Corporation, MuleSoft LLC, The International Business Machines Corporation, Microsoft Corporation, TIBCO Software Inc., SnapLogic Inc., Dell Technologies Inc., Jitterbit Inc., Workato Inc., Celigo Inc., Scribe Software Corporation, Talend Inc., WSO Inc., Tray. io, Cloud Elements Inc., RoboMQ Inc., Cyclr Systems Ltd, Azuqua Inc., Zapier Inc., DBSync, elastic. io, Flowgear, Seeburger AG, Liaison Technologies, Cleo, Amazon. com Inc., Google LLC

North America was the largest region in the integration platform as a service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the integration platform as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the integration platform as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The integration platform as a service (iPaas) market includes revenues earned by entities by providing integration platform for boosting the hybrid data flows, improving operational workflows, synchronizing data, and providing better visibility. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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