Integration Platform as a Service Market Size, Share 2031

Report Description

Integration Platform as a Service Market Outlook 2031

The global integration platform as a service market size was valued at USD 4.82 Billion in 2022 and is estimated to reach USD 52.19 Billion by 2031, expanding at a CAGR of 30.3% during the forecast period, 2023–2031. The growth of the market is attributed to the rising developments in the integration technology to enhance the compatibility among different verticals.

Integration platform as a service (IPaaS) provides an integration solution which offers a range of connectivity to backend systems, files, sources, and operational applications. The platform as a service is widely used for various applications for the development of well-defined interfaces, web services, and calls among the data sources and applications.

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It enables the advancement of integrations, strategies, and APIs for different systems. Moreover, the service offers unified access to core data along with an operating model to allow users to constantly develop the services and integration on the platform.

The integration platform as a service is a branch of platform as a service (PaaS) which comprises of several cloud technology including cloud computing, cloud storage, and other internet technologies which are correlated with shared devices.

When the integration is connected to the cloud, it offers certain benefits such as powerful storage, computational, and communication resources of contemporary data center in the cloud, which can be shared and processed from various systems.

Some of the key market players are actively working on the utilization of the IPaaS in the massive potential Internet of Things (IoT) and big data analytics market. Over the past few years, the market is expanding at significant growth due to rise in the user subscription and increase in investment from many key players in the information technology and cloud computing industry.

Integration Platform as a Service Market Trends, Drivers, Restraints, and Opportunities

• Rapidly growing demand for advancement IPaaS capabilities as well as increasing requirement for slim and faster integrated platform are expected to propel the market growth.
• Increasing demand for integrated platform owing to the expanding automation in the manufacturing sector is projected to fuel the market expansion.
• Growing adoption of the technology for the development of innovative electronic and electrical items as well as automotive components are expected to boost the market expansion.
• Higher costs, heavy complexity in infrastructure building for integration, and other challenges are restraining factors expected to hinder the market growth during the forecast period.
• Shifting towards the initial structure of data and process synchronization due to the evolving market trends is projected to drive the market growth.
• Ongoing R&D activities and huge investments by some key market players are creating numerous opportunities for the expansion of IPaaS market.

Scope of Integration Platform as a Service Market Report:

The report on the global integration platform as a service market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Integration Platform as a Service Market Segment Insights

Integration Types Segment Analysis

Based on integration types, the market is divided into application integration, application program interfaces (API) integration, data integration, and process integration. The API integration segment is anticipated to dominate the market by registering a high growth rate during the analysis period due to the expanding adoption of integrated platform as a service module.

On the other hand, the process integration segment is projected to exhibit a substantial CAGR in the coming years owing to the increasing demand for industry automation across the globe. For streamlining the processes, this type of integration is widely adopted by the manufacturing sector.

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Services Segment Analysis

On the basis services, the global integration platform as a service market is classified into API life cycle management, business to business (B2B) & cloud integration, internet of things (IoT), data mapping & transformation, integration flow development & life cycle management tools, and routing & orchestration.

The IoT segment is expected to register a considerable CAGR during the forecast period owing to high penetration of internet across the globe and availability of inexpensive internet data schemes especially in developing regions. The development of IoT is boosting the market growth with its various applications in the advancement of cloud computing platform, interactive software platform, and on-premises hardware.

Deployments Segment Analysis

Based on deployments, the market is divided into on-premise, hybrid, and cloud. The cloud segment is expected to constitute a key market share during the analysis period owing to the growing automation in the manufacturing sector. The IoT and Artificial Intelligence (AI) are advanced technology that are widely adopted to boost cloud computing service.

The development of smart sensors along with IoT and AI offer real time feedback and data, thereby contributing to the segment growth. However, the on-premise segment is projected to exhibit a considerable CAGR in the coming years due to the increasing demand of the technology from industries including food & beverages, metal & machinery, and the plastic & rubber industry.

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Integration Platform as a Service Market Regional Analysis

In terms of regions, the global integration platform as a service market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to account for a large revenue share during the forecast period owing to the early adoption of advanced integration platforms and rising requirement of integrating different applications and processes under a single platform across industries in the region.

However, the market in Asia Pacific is expected to expand at a high growth rate due to the rising development of several IT companies and high penetration of IoT in these big economies including India, China, and Australia. Factors such as significant growth in cloud computing adoption in the manufacturing and retail sector are pushing to the regional market expansion.

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