The advent of integration technologies and their continuous evolution shows a disruptive impulse in several industrial sectors. Such disruptions, however, appear to be profitable for companies and organizations that want to integrate their applications and business platforms. Cloud networks and cloud computing are extensively practiced in various industrial domains. Since such technologies are penetration that goes beyond technology-based companies, the need to integrate their functionalities is becoming increasingly important.
According to a recent report published by Transparency Market Research, factors as such feed the acceptance of Integration Platform as a Service (IPaaS) in the world. In the near future IPaaS will be actively applied by companies that want to integrate data and on-premise applications to stimulate business growth. By providing users with effective connectivity between multiple applications, IPaaS platforms enable employees of a company to implement such integrations without installing additional hardware or software.
By the end of 2022, the global market for Integration Platform as a Service is estimated to reach US $ 1.2. The study expects the global IPaaS market to increase strongly with a CAGR of 11.9% during the five-year forecast period, 2017-2022. The report also predicts that North America will be the largest IPaaS market in the near future.
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North America as the leading market for IPaaS
The key findings of the regional analysis in the report show that North America will be at the forefront of expanding the global IPaaS market over the forecast period. By the end of 2022, the IPaaS market in North America is expected to be worth nearly half a billion dollars. The report also anticipates a significant acceptance of IPaaS on European markets. In 2022, the IPaaS market in Europe is ready to rise with a CAGR of 11.4%. Although the fastest acceptance of IPaaS is likely to be registered in the Asia-Pacific excluding Japan (APEJ) market. During the forecast period, the APEJ IPaaS market is expected to grow strongly by more than 13% CAGR.
Healthcare and education industries to exhibit steadfast adoption
The main industries are expected to show strong growth in healthcare and education in the acceptance of IPaaS solutions. Pharmaceutical companies are likely to implement IPaaS to improve the efficiency of production applications and integrate production data with sales registers. Educational organizations are also expected to adopt these services and improve the integration of learning processes with interactive devices and applications. The report also shows that the introduction of IPaaS until 2022 will remain predominant in the IT and telecommunications sector.
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With regard to end-users, it is expected that large companies will dominate the global IPaaS market, while small and medium-sized enterprises will witness an impressive traction in the field of IPaaS acceptance. Based on components, the global IPaaS market is split into software platforms and services, with the former segment representing a larger share of global revenues. The report expects the acceptance of IPaaS services to be low at the moment, although it will increase towards the end of 2022, given the increasing complexity of deploying software platforms in the absence of good implementation services.
The report has profiled leading IPaaS providers as major market players, including IBM Corporation, Oracle Corporation, MuleSoft, Inc., Red Hat, Inc., Fujitsu Ltd., Microsoft Corp., SAP SE, Capgemini SE, Dell Inc. and TIBCO Software Inc. These companies are expected to remain active until 2022 in the expansion of the global IPaaS market.
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