Integration Platform as a Service (IPaaS) Market Size, Geographical Segmentation, Business Challenges, and Investment Opportunities Analysis till 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 The governments of North American countries are focusing on increasing the IT budgets due to outdated IT infrastructure.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.

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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.

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.

Top Key Companies or Players (this may not be a complete list and extra companies can be added upon request):

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

IBM Corporation
Microsoft Corporation
Boomi, Inc

The Segments and Sub-Section of Integration Platform as a Service (IPaaS) Market are shown below:

By Service Type (Cloud Service Orchestration, Data Transformation, API Management, Data Integration, Real-time Monitoring and Integration, Business-to-Business and Cloud Integration, Application Integration, and Others),
By Deployment Type (Public Cloud, Private Cloud, and Hybrid Cloud),
By Enterprise Size (Small and Medium Size Enterprises and Large Size Enterprises),
By Industry (Telecommunications, Government and Public Sector, Consumer Goods and Retail, Energy, Healthcare, Manufacturing, BFSI, and Others)

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.

Impact of COVID-19 Pandemic on 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 research provides answers to the following key questions:

What is the estimated growth rate of the market for the forecast period 2020-2027? What will be the market size during the estimated period?
What are the key driving forces responsible for shaping the fate of the Integration Platform as a Service (IPaaS) Market during the forecast period?
Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Integration Platform as a Service (IPaaS) Market?
What are the prominent market trends influencing the development of the Integration Platform as a Service (IPaaS) Market across different regions?
What are the major threats and challenges likely to act as a barrier in the growth of the Integration Platform as a Service (IPaaS) Market?
What are the major opportunities the market leaders can rely on to gain success and profitability?

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