PUBLISHER: The Business Research Company | PRODUCT CODE: 1522231
PUBLISHER: The Business Research Company | PRODUCT CODE: 1522231
iPaaS, or Integrated Platform as a Service, operates in the cloud and serves as a platform for integrating different applications, data sources, and systems within an organization. Its purpose is to streamline the integration of data from various sources and applications by offering pre-established connectors, business logic, and self-service scalability. This approach aims to alleviate the workload on IT departments, making it easier to manage while also supporting digital transformation efforts.
The primary service categories within integrated Platform as a Service (iPaaS) encompass cloud service orchestration, application integration, application programming interface (API) management, data integration, business-to-business and cloud integration, real-time monitoring and integration, data transformation, among others. Cloud service orchestration involves the management of multiple cloud services, resources, and applications to ensure their efficient collaboration. These services are typically deployed across various environments including on-premise, hybrid, public cloud, and private cloud setups. Integrated Platform as a Service (iPaaS) serves a diverse range of organizational sizes, including large enterprises and small and medium enterprises (SMEs). Its clientele spans across various industries such as banking financial services and insurance (BFSI), government and public sector, manufacturing, media and entertainment, telecommunications, healthcare and life sciences, consumer goods and retail, among others.
The integrated platform as a service (iPaaS) market research report is one of a series of new reports from The Business Research Company that provides an integrated platform as a service (iPaaS) market statistics, including the integrated platform as a service (iPaaS) industry global market size, regional shares, competitors with the integrated platform as a service (iPaaS) market share, detailed integrated platform as a service (iPaaS) market segments, market trends, and opportunities, and any further data you may need to thrive in the integrated platform as a service (iPaaS) industry. These integrated platform-as-a-service (iPaaS) market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The integrated platform as a service (iPaaS) market size has grown exponentially in recent years. It will grow from $7.65 billion in 2023 to $10.31 billion in 2024 at a compound annual growth rate (CAGR) of 34.8%. The growth in the historic period can be attributed to the upgrades to existing product features influencing financial outcomes, introduction of new products impacting business performance, global or regional market expansions shaping business performance, and initiatives for technology infrastructure modernization impacting forecasts.
The integrated platform as a service (iPaaS) market size is expected to see exponential growth in the next few years. It will grow to $34.19 billion in 2028 at a compound annual growth rate (CAGR) of 34.9%. The anticipated growth during the forecast period is a result of various factors. These include promotions stimulating future demand and financial predictions, the acquisition of new users for expansion and projections, fluctuations in demand influenced by seasonal patterns affecting estimations, the uptake of new services propelling financial outcomes, and partnerships shaping forthcoming financial forecasts. Significant trends expected in the forecast period entail a transition towards flexible spending environments for agile forecasting, a growing dependence on data-driven insights for forecasting, a focus on business flexibility and responsiveness in predictions, the optimization of resource allocation guided by demand forecasts, and proactive identification of risks to enable informed decision-making in forecasting.
The increasing embrace of hybrid and multi-cloud infrastructure is anticipated to drive the expansion of the integrated Platform as a Service (iPaaS) market in the future. Hybrid and multi-cloud infrastructure entails an IT framework that blends on-premises data centers, private clouds, and multiple public cloud services, enabling organizations to harness the advantages of diverse environments. This infrastructure is widely adopted for its capacity to boost operational flexibility, optimize expenses, and enhance resilience through the utilization of various environment strengths. Integrated Platform as a Service (iPaaS) facilitates smooth data integration and application connectivity across hybrid and multi-cloud setups, ensuring streamlined operations and capitalizing on the benefits of different cloud environments. For example, in April 2023, as per a report by Flexera, a US-based computer software company, 87% of organizations had embraced multi-cloud setups, with 72% adopting hybrid clouds, 13% opting for multiple public clouds, and 2% employing multiple private clouds in 2022. Furthermore, there has been a substantial increase in cloud spending by small and medium-sized businesses (SMBs), with 52% spending over $1.2 million in 2022, up from 38% reported in 2021. Hence, the growing adoption of hybrid and multi-cloud infrastructure is fueling the growth of the Integrated Platform as a Service (iPaaS) market.
Key players in the integrated Platform as a Service (iPaaS) market are directing their efforts towards the development of cloud-based platforms employing cutting-edge technologies, including cloud data integration technologies, to effectively transfer a majority of pertinent data and gain a competitive edge. Cloud data integration technologies encompass solutions that enable seamless data integration across various sources and applications within cloud-based environments. For instance, in November 2022, Qlik, a US-based data analytics firm, introduced Qlik Cloud Data Integration, an Enterprise Integration Platform as a Service (eiPaaS) solution, with the aim of enhancing enterprise data strategies by facilitating real-time data integration across all applications and data sources. Qlik's suite provides users with access to cloud data integration functionalities across hybrid and multi-cloud environments, simplifying the management of contemporary data for actionable insights. It seamlessly integrates with major cloud platforms such as AWS, Google Cloud, and Microsoft Azure, offering features such as real-time data transfer, advanced transformation capabilities, metadata management, and API automation, thereby streamlining data integration and delivery processes.
In August 2021, Workiva, a software company headquartered in the United States, purchased OneCloud for an undisclosed sum. Workiva's acquisition of OneCloud bolsters its platform's capabilities in the IPaaS market by broadening integration functionalities, hastening digital transformation, and enhancing visibility and control. This acquisition empowers customers to make more informed and quicker decisions for improved business results by harmonizing, streamlining, and managing data from diverse source systems. OneCloud, a US-based iPaaS (integration platform-as-a-service) provider, specializes in enabling integration, data transformation, and automation across various processes.
Major companies operating in the integrated platform as a service (IPaaS) market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Fujitsu Limited, Salesforce com Inc., Capgemini SE, Amdocs Limited, Informatica Corporation, SoftwareOne, Software AG , Boomi LP, MuleSoft Inc., Zapier Inc., Workato Inc., Celigo Inc., EDICOM, VIRTUOSO PARTNERS Limited, Jitterbit Inc., SnapLogic Inc., DBSync, Flexspring, Gathr Data Inc., Solvace Inc., Flowgear
North America was the largest region in the integrated platform as a service (iPaaS) market in 2023. The regions covered in the integrated platform as a service (IPaaS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the integrated platform as a service (IPaaS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The integrated platform as a service (iPaaS) market includes revenues earned by entities by providing services such as software updates, security, and consulting services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Integrated Platform As A Service (iPaaS) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on integrated platform as a service (iPaaS) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for integrated platform as a service (iPaaS) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The integrated platform as a service (iPaaS) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.