Global Integration Platform as a Service (iPaaS) Market to Grow at a CAGR of 38% During 2024-2032, Aided by the Immense Opportunities Provided by the BFSI Sector

The global integration platform as a service (iPaaS) is being driven by the rapidly growing consumer goods and retail sector across the globe. Because of the surge in popularity of online shopping, retailers are using advanced technologies like social networks, digital stores, big data analytics, and cloud computing. The vendors of all industries need cloud environment to offer their service portfolio and product to the customers, which is significantly contributing to the industry growth. Another key driver of the iPaaS market is the telecommunication and IT industry vertical. This sector needs data management at a huge scale owing to the mega generation of data daily. The IT sector can utilise cloud-based solutions for digital data management, connecting customers and developers, maintaining operational schedules, and project management. Cloud computing compliments the telecommunication and IT industry because it gives enterprises the opportunity to enjoy benefits from cloud-based technology on their core competencies like end-to-end service levels monitoring, customer relationship, security, and network connectivity.

Some key developments are taking place in the iPaaS industry that show promising signs to be drivers of the market in the near future. For instance, In January 2021, Informatica LLC (NASDAQ: INFA) released its brand-new Customer 360 SaaS platform, an industry’s first ‘all-in-one’ SaaS solution, which provides a cloud-native service for master data management (MDM). Furthermore, major companies around the world have started laying more and more emphasis on developing their iPaaS. For instance, in November 2020, Pirelli selected TIBCO Software Inc. (NASDAQ: TIBX), one of the leading industry players, to develop its iPaaS. The solution will compliment Pirelli’s objective of transforming digitally and provide a brand-new integrated operating model for its digital IT ecosystem. Such developments are anticipated to have a positive effect on the growth of the iPaaS industry in the coming years.

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Market Analysis by Deployment Model, Service Type, Organisation Size, Industry, and Region:

• The market on the basis of deployment model can be divided into public, private, and hybrid.
• Based on service type, the industry can be divided 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, and others.
• The market is divided based on organisation size into small and medium enterprises and large enterprises.
• On the basis of industry, the market can be bifurcated into BFSI, consumer goods and retail, education, government and public sector, healthcare and life sciences, media and entertainment, telecommunication and IT, manufacturing, and others.
• The regional markets for integration platform as a service (iPaaS) include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising awareness regarding iPaaS among enterprises is proving to be a key market driver.
• The reduced cost of ownership is a key factor in increasing the demand for iPaaS.
• The growing focus on scalability, rapid deployment, and business agility is a critical reason for the market’s success.
• The media and entertainment sector is anticipated to bolster the growth of the industry.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for integration platform as a service (iPaaS)  for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the deployment models, service types, organisation sizes, industries, and regions of integration platform as a service (iPaaS).
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global integration platform as a service (iPaaS) market are Dell Boomi Inc., Celigo Inc., Informatica LLC, Snaplogic Inc., TIBCO Software Inc., Jitterbit Inc., and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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