Global iPaaS Market Owing To Growing Adoption of Cloud Services and Rising Awareness Level

The integration platform as a service (iPaaS) market is expected to reach $4.0 billion by 2022, growing at a CAGR of 40.4% between 2017-2022. The iPaaS market is driven by factors such as need for business agility, increasing awareness about iPaaS among business enterprises, faster deployment & scalability, growing adoption of SaaS application and reduced cost of ownership.

Telecommunication contributes with highest revenue to the iPaaS market, while BFSI, healthcare and life sciences, government and public sector, manufacturing, media and entertainment, consumer goods and retail and education are the other major types of iPaaS. The market for iPaaS in government & public sector is likely to register the highest growth during the forecast period on account of growing data traffic, rising government spending towards advance technology and growing security concern. On the other hand, cloud service orchestration accounts for the largest revenue in global iPaaS market, and is further expected to be the leading segment on account of growing focus of the companies to optimize workload and maximize cloud investments.

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iPaaS provides scalability to the business organizations and helps them to perform and cope under an excess workload. iPaaS helps to maintain or increase the enterprise’s level of performance when screened by larger operational demands. Deriving business value involves processing of data at high speeds for actionable insight and actions. Adoption of integration platforms such as iPaaS helps to create a responsive architecture to derive maximum value from this sort of data explosion. The need for faster deployment in business organizations is increasing rapidly and is driving the demand of iPaaS market globally. The business organizations are developing a framework where no work is needed to install software or place physical servers in the company.

North America has been the largest market for iPaaS technology, across the world. The region contributed over 35% to the global market revenue in 2016 and is expected to grow at rapid pace during the forecast period, to reach $1.1 billion by 2022. Among the countries in North America, the U.S. has been the larger iPaaS market, and is expected to grow at rapid pace during the forecast period, to reach $1,148.3 million by 2022. It is also expected to witness higher growth during 2017 – 2022 on account of increasing number of SMEs coupled with rising adoption of iPaaS among different end-use industries

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Some of the key players operating in the iPaaS market are Informatica, Boomi Inc., MuleSoft, Inc., SnapLogic, Inc., Celigo, Inc., Jitterbit, Inc., IBM Corporation, Oracle Corporation, DBSync Ltd and Scribe Software Corporation.

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