Integration Platform as a Service Market 2018 Size, Share, Development Status, Type and Application, Opportunities, Forecast by 2023
Integration platform as a service market is estimated to exhibit high growth potential during the forecast period owing to its increasing demand across various industry verticals. Rising demand among the end users for integration platform as a service solution is driving the growth of the market. Additionally, innovations and advancements in technology, and increasing market for integration platform as a service is responsible for driving the market growth
Dell Boomi, Inc. Informatica Corporation, MuleSoft, Inc., IBM Corporation, Oracle Corporation, and SAP SE are some of the leading players in the market. Oracle Corporation offers a rich palette of technically integrated platform solutions which are designed to increase agility, reduce the costs, and the complexities involved in the implementation of IT. The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements. Increasing adoption of cloud computing among the enterprises is one major factor driving the growth of this market. The focus towards the promotion of adopting integration platform as a service due to the reduced cost of ownership among end users, the growth of the global integration platform as a service market is anticipated.
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Some of the prominent players in the global integration platform as a service market are Dell Boomi, Inc. (U.S.), Informatica Corporation (U.S.), MuleSoft, Inc. (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SnapLogic, Inc. (U.S.), Celigo, Inc. (U.S.), Jitterbit, Inc. (U.S.), Scribe Software Corporation (U.S.), DBSync (U.S.), Flowgear (South Africa).
According to Market Research Future Analysis, the Global Integration Platform as a service market is estimated to generate revenue of approximately USD 2 Billion by 2023 growing at a CAGR of 22% during the forecast period 2017-2023.
The global integration platform as a service market is segmented by service type, deployment, organization size and vertical. Based on service type, the market is segmented into cloud service orchestration, data transformation, API management, data integration, real-time monitoring & integration, business to business (B2B) & cloud integration, application integration, training & consulting and support & maintenance. The cloud service orchestration sub-segment is expected to hold the largest market share of the integration platform as a service market during the forecast period. Whereas, the application integration service sub-segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing demand for integration platform services across various industry verticals. However, the high initial investments and interoperability issues are major factors that could cause hindrance in the growth of global integration platform as a service market.
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The global integration platform as a service market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the highest rate during the forecast period. The growth of the market in North America region is attributed to technological advancements and increased adoption of integration platform as a service application across various industry verticals.
The North America region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. The growth in North America region is being dominated by rising investments in cloud-based applications and a considerable shift in workload towards cloud environments. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of integration platform as a service in media & entertainment industry is another major factor driving the growth of the integration platform as a service market in the region.
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