Integration Platform as a Service (IPaaS) Market is expected to grow at a CAGR of 21.2% by 2028 | Mulesoft, LLC, SAP SE, Oracle

The integration platform as a service (IPaaS) market was valued at US$ 2,306.32 million in 2021, and it is projected to reach US$ 8,844.20 million by 2028; it is expected to grow at a CAGR of 21.2% from 2021 to 2028.

The North America integration platform as a service (IPaaS) market held the highest share in 2020. The governments of North American countries are focusing on increasing the IT budgets due to outdated IT infrastructure. The US is known as the Silicon Valley of the IT world; the country has Fortune 500 IT companies, which are making considerable investments in the development of products and solutions by adopting advanced and innovative technologies. The governments are maximizing their digital assets by strategically leveraging new technologies and data and advanced analytics to optimize policies and programs and update their legacy systems. Improving and aligning processes; attracting new investors; bringing intelligent, data-driven approach in government operations; providing better access to and improving the management of information; enhancing citizen satisfaction and trust; transforming government transaction services; and meeting the needs of rapidly changing demographics and balancing cost while optimizing efficiency are all playing a significant role in the ongoing IT transformation across government, public, and private sectors. Thus, the rise in IT spending by the region, coupled with the high adoption of digitalization, is boosting the demand for integration platform as a service (IPaaS), thereby influencing the market growth over the forecast period.

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In 2020, APAC stood second in the integration platform as a service (IPaaS) market with a decent market share, and it is anticipated to witness a decent CAGR from 2021 to 2028. Advanced and innovative technologies are widely used throughout the region. According to the "2018 Cloud Readiness Index" (CRI) produced by the Asia Cloud Computing Association (ACCA), IT organizations are focusing on updating critical business applications. As per ACCA, Singapore is the topmost cloud-ready country in the region. Further, governments implementing the "Cloud First" strategy in their respective countries score better in the CRI. These include countries such as Australia, New Zealand, and the Philippines.

Moreover, enterprises in countries including Australia, Singapore, Hong Kong, and South Korea have been quick to implement the competitive benefits of cloud leadership and transform it into digital enterprises. On the other hand, enterprises in Sri Lanka, Cambodia, and Myanmar are free from legacy technologies and can implement them into cloud-first models. Thus, the rising adoption of cloud platforms across all industries in the region is influencing the growth of the integration platform as a service (IPaaS) market.

The COVID-19 pandemic has led to strict lockdowns across the region since the starting of 2020. Some countries in the region like India, are still facing lockdowns, owing to the rising cases across the country. The region has experienced a closure of all business activities in the initial moths of 2020, which has negatively impacted the market growth. However, with the start of remote working across the region, organizations started investing in cloud technologies to work efficiently in remote condition. Thus, the rise in adoption of cloud solutions and platforms is creating the demand for IPaaS solutions, thereby contributing to the growth of the market.

The List of Companies - IPaaS Market

• Informatica
• io
• Software AG
• Seeburger AG
• Mulesoft, LLC
• SAP SE
• Oracle Corporation
• IBM Corporation
• Microsoft Corporation

The report segments the global integration platform as a service (IPaaS) market as follows:

Integration Platform as a Service (IPaaS) Market - by Service Type

• Cloud Service Orchestration
• Application Integration
• API Management
• Data Integration
• Business-to-Business and Cloud Integration
• Real-Time Monitoring and Integration
• Data Transformation
• Others

Integration Platform as a Service (IPaaS) Market - by Deployment Type

• Public Cloud
• Private Cloud
• Hybrid Cloud

Integration Platform as a Service (IPaaS) Market - by Enterprise Size

• SMEs
• Large Enterprises

Integration Platform as a Service (IPaaS) Market - by Industry

• IT and Telecommunications
• BFSI
• Manufacturing
• Healthcare
• Consumer Goods and Retail
• Energy
• Government and Public Sector
• Others

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