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Global Integration Platform As A Service Market 2023 New Innovations, Comprehensive Insights, Industry Share And Major Players Analysis Till 2032 | Boomi Inc., Informatica Inc., Boomi Inc., SAP SE, Oracle Corporation
Integration Platform As A Service Market
The Business Research Company's Integration Platform As A Service Global Market Report 2023 identifies increase in inclination towards cloud-based solutions as the major driver for the Integration Platform As A Service Market's growth in the forecast period. Due to pandemics, demand for cloud-based solutions and services increased due to the sudden shutdown of schools, corporates, enterprises, and more. Quick deployment, data security, automatic software updates, unlimited storage capacity, and more are some advantages gained from cloud-based solutions. According to Gartner, a management consultancy firm, cloud computing expected to account for more than 45% of IT spending on system infrastructure, infrastructure software, application software, and business process outsourcing by 2024. The increase in the spending on cloud services shows the demand for cloud-based solutions. Therefore, the increasing demand for cloud-based solutions across the globe drives the market for integration as a service.
The global integration platform as a service market size grew from $3.29 billion in 2022 to $4.29 billion in 2023 at a compound annual growth rate (CAGR) of 30.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The integration platform as a service market size is expected to grow to $13.28 billion in 2027 at a CAGR of 32.6%.
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Major competitors in the Integration Platform As A Service Market are Boomi Inc., Informatica Inc., Boomi Inc., SAP SE, Oracle Corporation, MuleSoft LLC, Jitterbit Inc., IBM Corporation, Microsoft Corporation, Workato Inc., SnapLogic Inc., Software AG, elasticio, Adaptris, Seeburger AG, Fujitsu, Zapier, Flowgear, DBSync Ltd., and Seeburger AG.
A key trend in the Integration Platform As A Service Market includes artificial intelligence (AI) and machine learning (ML). The demand for AI and ML has increased in the past few years. Artificial Intelligence with machine learning solves the data integration issues. For instance, in March 2021, IBM, an American multinational technology corporation, and Pandio, a US-based AI orchestration platform, developed hybrid integration solutions that automate the time-consuming process of integrating corporate programs like Customer Relationship Management (CRMs) and Enterprise Resource Planning (ERPs) using AI. The most recent Pulsar-based solutions deploy interfaces more swiftly and precisely because of automatic data mapping, data format identification, and translation. These integration solutions incorporate all currently used integration technologies as necessary.
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The Integration Platform As A Service Market is segmented -
By Cloud: Private Cloud, Hybrid Cloud, Public Cloud
By Service Type: API Management, B2B Integration, Data Integration, Cloud Integration, Application Integration, Other Services
By Verticals: Education, Healthcare and Life Science, Government and Public Sector, Consumer Goods and Retail, Banking, Financial Services, and Insurance, Other Verticals
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Integration Platform As A Service Market.
The Business Research Company's "Global Integration Platform As A Service Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Integration Platform As A Service Market Include:
1. Executive Summary
2. Integration Platform As A Service Market Characteristics
3. Integration Platform As A Service Market Trends And Strategies
4. Integration Platform As A Service Market - Macro Economic Scenario
5. Integration Platform As A Service Market Size And Growth
……
26. Africa Integration Platform As A Service Market
27. Integration Platform As A Service Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Integration Platform As A Service Market
29. Integration Platform As A Service Market Future Outlook and Potential Analysis
30. Appendix
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