Press release
Global Integration Platform as a Service (iPaaS) Market to Continue Double Digit Growth During 2017 – 2022
As per the research, the global iPaaS market has been growing in double-digits. iPaaS is a cloud integration platform that integrates application and databases. It can also be defined as a set of cloud based suit, which helps in enabling end-users to develop, manage, govern and integrate application and services as a single, integrated infrastructure. The increasing demand across various end-use industries including telecommunication, BFSI, manufacturing, healthcare & life sciences, education, consumer goods & retail, government & public sector and media & entertainment coupled with growing awareness about iPaaS among enterprises, is likely to spearhead the growth of the global iPaaS market. In addition, with rising BYOD trend coupled with growing data traffic is further expected to drive the demand of iPaaS across the globe.
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Insights on market segments
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.
The market to witness fastest growth in Asia-Pacific during the forecast period
Geographically, North America has been the largest market for iPaaS and Asia-Pacific has been the fastest growing regional market. The market in the region is also expected to grow at rapid pace during the forecast period. The U.S. stands as the largest market globally, whereas the market in India has been growing at highest pace.
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Need for business agility escalates the global market growth
iPaaS enables the business organizations to gain adaptability, flexibility and balance. Business agility refers to distinctive qualities of organizations to allow them to respond rapidly to the changes in the internal and external environment without losing the vision of the enterprise. With rising competition, the companies are focusing towards innovation and technological advancement to reduce the inaccurate, or obsolete information, which is driving the need for iPaaS among business organizations.
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