LONDON, Jan. 3, 2017 /PRNewswire/ --
"Factors such as the need for business agility, faster deployment, scalability, increasing awareness about iPaaS among enterprises globally, and reduced cost of ownership are driving the integration platform as a service market"
The Integration Platform as a Service (iPaaS) market size is estimated to grow from 528.0 million in 2016 to USD 2,998.3 million by 2021, at a Compound Annual Growth Rate (CAGR) of 41.5% during the forecast period. The market is driven by factors such as the need for business agility, faster deployment, scalability, increasing awareness about iPaaS among enterprises globally, and reduced cost of ownership. However, enterprises face some obstacles while adopting iPaaS, such as complexities involved in application interoperability, high initial cost of implementation, and security concerns.
"Application integration services is expected to have the highest growth rate during the forecast period"
Application integration service facilitates the integration of systems and applications across the business. The enterprises have realized the importance of application integration owing to the benefits offered, including sharing of information, automation of processes, reduced IT complexity, and increased agility. Due to these factors, the demand for the service is expected to increase during the forecast period. Vendors offering these services focus on improving the overall business efficiency, enhancing scalability, and reducing costs.
"Banking, financial services, and insurance segment is expected to contribute the largest market share"
The Banking, Financial Services, and Insurance (BFSI) sector provides substantial opportunities for the growth of the iPaaS market due to the complex integration between cloud services and on-premises systems. The BFSI organizations are investing into iPaaS as it enables centralized management of all integrated processes and improved cost efficiencies to support business strategies. The BFSI business is expected to hold significant share of the overall industry in the iPaaS market. The benefits offered are improved performance, reduced total cost of ownership, real-time integration, and standard industry practices.
"Asia-Pacific (APAC) projected to grow at the highest CAGR"
North America is expected to hold the largest market share in 2016, while APAC is the fastest growing region in terms of CAGR. The iPaaS helps to avoid resource conflict and IT glitches, and is therefore growing rapidly in APAC. Cloud emergence and mandatory government regulations are simultaneously helping in boosting the growth of the iPaaS market in this region.
The break-up profiles of primary participants is given below:
- By company: Tier 1: 33%, Tier 2: 41%, and Tier 3: 26%
- By designation: C level: 47%, Director level: 35%, and Others: 18%
- By region: North America: 49%, Europe: 29%, APAC: 17%, and RoW: 5%
Various key iPaaS providers profiled in the report are as follows:
1. Dell Boomi, Inc. (Pennsylvania, U.S.)
2. Informatica Corporation (California, U.S.)
3. MuleSoft, Inc. (San Francisco, U.S.)
4. IBM Corporation (New York, U.S.)
5. Oracle Corporation (California, U.S.)
6. SAP SE (Walldorf, Germany)
7. SnapLogic, Inc. (California, U.S.)
8. Celigo, Inc. (San Mateo, California, U.S.)
9. Jitterbit, Inc. (California, U.S.)
10. Scribe Software Corporation (New Hampshire, U.S.)
11. DBSync (Tennessee, U.S.)
12. Flowgear (Johannesburg, South Africa)
The iPaaS market has been segmented based on service, deployment, organization size, vertical, and region. A detailed analysis of the key industry players has been done to provide key insights into their business overview, products & services, key strategies, new product launches, partnerships, agreements, collaborations, business expansions, and competitive landscape associated with the iPaaS market.
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the iPaaS market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
- This report helps stakeholders to understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report helps stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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