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Enterprise Application Integration Market Outlook, Market Share, Size, Growth Status And Forecast To 2033
Enterprise Application Integration Market Outlook
According to The Business Research Company's, The enterprise application integration market size has grown rapidly in recent years. It will grow from $16.97 billion in 2023 to $19.74 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to data fragmentation, customer experience enhancement, regulatory compliance, supply chain optimization.
The enterprise application integration market size is expected to see rapid growth in the next few years. It will grow to $36.44 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to business continuity and resilience, focus on customer experience, focus on data governance and compliance, hybrid IT environments, growing adoption of cloud services. Major trends in the forecast period include microservices-based integration, expansion of low-code or no-code integration, rise of event-driven architectures, accelerated adoption of AI and machine learning, focus on API-led integration.
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Market Drivers and Trends:
The increasing adoption of cloud computing is expected to propel the growth of the enterprise application integration market going forward. Cloud computing refers to the delivery of computing services, including servers, databases, networking, and analytics, over the Internet. The adoption of cloud computing is increasing because it offers security along with cost savings, scalability, reliability, and innovation opportunities. Cloud computing facilitates seamless enterprise application integration due to its scalability, cost-effectiveness, and increased demand for accessibility and mobility. For instance, in December 2023, according to Eurostat, a Luxembourg-based statistical office of the European Union, the adoption of cloud-based solutions in 2023 in the European Union increased by 4.2%, with 45.2% of enterprises purchasing cloud computing services, indicating a significant surge compared to 2021. Therefore, the increasing adoption of cloud computing is driving the growth of the enterprise application integration market.
Major companies operating in the enterprise application integration market are focusing on technological advancements, such as the Super Integration Platform, to deliver a seamless and personalized customer experience. The Super Integration Platform is a cutting-edge enterprise integration platform that combines web methods and stream sets to provide a unified solution for integrating applications, data, APIs (application programming interfaces), and B2B interactions seamlessly. For instance, in October 2023, Software AG, a Germany-based software company, introduced a revolutionary solution called Super iPaaS, an advanced enterprise integration platform, to address the challenges faced by enterprises in managing the connectivity caused by rapid digital expansion. It allows users to connect to anything, anywhere, and in any way they desire, ensuring secure connections and data-informed decisions. This innovative platform offers a unified experience across all integration components, providing unprecedented visibility and governance while increasing developer collaboration and productivity.
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Major Key Players of the Market:
Microsoft Corporation, Dell Technologies Inc, Amazon Web Services Inc, Plc, International Business Machines Corporation, Cisco Systems Inc, Oracle Corporation, Fujitsu Ltd, SAP SE, Salesforce.com Inc, Hewlett Packard Enterprise Development LP (HPE), Infosys Limited, VMware Inc, HCL Technologies, ServiceNow Inc, Workday Inc, EPAM Systems, Splunk Inc, Software AG, TIBCO Software Inc, Persistent Systems, Progress Software Corporation, Chetu Inc, iTransition Group, Fingent Corporation
Enterprise Application Integration Market 2024 Key Insights:
• The enterprise application integration market size is expected to see rapid growth in the next few years. It will grow to $36.44 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%.
• Cloud Computing Drives The Enterprise Integration Market Growth
• Revolutionizing Enterprise Integration With The Super Integration Platform
• North America was the largest region in the enterprise application integration market in 2023
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