The new report by Expert Market Research titled, ‘Global Integration Platform as a Service (iPaaS) Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global integration platform as a service (iPaaS) market, assessing the market based on its segments like deployment models, service types, organization sizes, industries, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 38%
• Forecast Market Size (2026): USD 13 billion
The global iPaaS industry is being driven by the immense opportunities offered by the BFSI sector . This can be attributed to the complex integration between cloud services and on-premises systems. Moreover, banks are investing heavily in iPaaS for cost-reduction and enabling centralised management of all integrated processes. Further, other factors like rapid technological advancements and growing digitisation, particularly in emerging nations, are also contributing to the growth of the industry. Over the forecast period, the media and entertainment industry and the increasing investments by the leading industry players are expected to further bolster the growth of the iPaaS market.
Industry Definition and Major Segments
Integration Platform as a Service (iPaaS) is a group of automated tools utilised for linking software applications, which are used in different environments. It provides benefits like easy and cost-effective integrations, flexible scalability, better security and data compliance, reduced integration redundancy for multi-tenant applications, and real-time integrations for big data processing, among others.
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By deployment model, the market is divided into:
Based on service type, the industry can be segmented into:
• Data Mapping and Transformation
• Routing and Orchestration
• Integration Flow Development and Life Cycle Management Tools
• API Life Cycle Management
• Business to Business (B2B) and Cloud Integration
• Internet Of Things (IOT)
• Real-Time Monitoring and Integration
The market is divided based on organisation size into:
• Small and Medium Enterprises
• Large Enterprises
On the basis of industry, the market can be divided into:
• Consumer Goods and Retail
• Government and Public Sector
• Healthcare and Life Sciences
• Media and Entertainment
• Telecommunication and IT
Region-wise, the market can be divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The increasing R&D activities and growing investments by the major players to develop enhanced products are expected to aid the market growth. The few important developments are taking place in the iPaaS industry that show positive signs to be the market drivers in the coming future. For instance, Informatica LLC has launched its new Customer 360 SaaS platform, which provides a cloud-native service for MDM. Moreover, global giants have started focusing more on developing their iPaaS. For instance, Pirelli recently selected TIBCO Software Inc. to help it in developing its iPaaS. This move will help Pirelli in achieving its objective of digital transformation and provide a new integrated operating model for its digital IT ecosystem. Such key developments are expected to be drivers for the growth of the iPaaS industry.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.