BANGALORE, India, Dec. 7, 2020 /PRNewswire/ -- The global Hybrid Integration Platform Market is Segmented by Type (Application integration, Data Integration, Business-to-Business (B2B) integration, Cloud Integration), by application (BFSI, Retail, Government and public sector, Manufacturing, Telecommunication, IT, and IT-Enabled Services (ITES), Others). This report is published on Valuates Reports in the Software Category. It also covers Global & Regional Opportunity Analysis and Industry Forecast to 2026.
The global Hybrid Integration Platform market size is projected to reach USD 20960 Million by 2026, from USD 18610 million in 2020, at a CAGR of 11.7% during 2021-2026.
One of the main roadblocks often encountered in cloud adoption is the convergence of cloud and on-site applications. As a result, companies face challenges such as lag in their processes, which inevitably leads to missed deadlines and unhappy customers, along with far more unresolved issues. Hybrid Integration Platform facilitates the seamless integration of various business applications and provides a secure portal for data transactions through different hosting environments.
Major factors driving the growth of hybrid integration platform market size are the growing need to integrate on-premises and cloud applications for driving the digital business transformation, hybrid integration platforms' capabilities to tackle the business challenges, and the increasing demand for hosting apps, data, and services on the cloud.
Hybrid Integration Platform market report focuses on major drivers, restraints, opportunities and threats of new entrants along with the revenue estimation.
TRENDS INFLUENCING THE HYBRID INTEGRATION PLATFORM MARKET SIZE
Growth in Cloud Integration Services Across End User Industries is expected to increase the growth of hybrid integration platform market size. Enterprises across regions are transitioning to the cloud to benefit from agility, operational creativity, cost-effectiveness, scalability and the ability to react more quickly.
North America is expected to hold the largest hybrid integration platform market share. This dominance of North America is attributed to the Large-scale investments in hybrid integration systems and the need to combine on-site and cloud applications for digital business transformation.
Furthermore, North America has been highly receptive to the latest developments in technology, such as data integration software, API management, iPaaS, MFT, and ESB. Another major factor responsible for driving the growth of hybrid integration solutions market size is the growing need to host cloud apps, data and services.
The APAC region is in the initial growth phase. However, it is likely to be the fastest-growing region during the forecast period. This rapid growth is due to increased spending on infrastructure upgrades, the advent of advanced and stable cloud-based solutions, the rising adoption of IoT, big data analytics, and accessibility for cloud-based solutions.
TOP COMPANIES IN THE HYBRID INTEGRATION PLATFORM MARKET
The global market for hybrid integration platforms is expected to be fragmented, with many regional and global players' involvement. To strengthen their leadership position in the global hybrid integration platform industry, all major players are engaged in competitive strategic developments such as alliances, new product growth and market expansion.
Some of the top companies in the Hybrid integration platform market include,
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Data Integration Market size is projected to reach UD 7238 Million by 2026, from USD 6677.2 Million in 2020, at a CAGR of 7.8% during 2021-2026. Major factors driving the growth of data integration market size are the demand for tools combining several heterogeneous data sources and the rise of cloud computing, creating demand for effective data integration tools and services. The Data Integration market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Data Integration market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2015-2026.
The Integration Platform as a Service (iPaaS) Market is expected to grow from USD 1,044.42 Million in 2019 to USD 2,357.88 Million by the end of 2025 at a CAGR of 14.53%. This report is segmented by type On- Cloud and On-Premise, by application Banking, Consumer Goods and Retail, Education, Government and Public Sector, Healthcare and Life Sciences, Manufacturing, Media and Entertainment, and Telecommunication and Information Technology Enabled Services (ITES) and by various regions.
Cloud Integration Market is segmented by type IPASS, Big Data Integration Platform, Cloud Migration, E-Commerce Data Integration, Enterprise Service Bus, Extract Load & Transfer, Stream Analytics, by application Enterprise Risk Management, Customer Relation Management Database Management System and by various regions.
Internet of Things (IoT) Integration Market is segmented by type Small And Medium-Sized Enterprises, Big Companies, by application Intelligent Building, Intelligent Medical, Energy, Utilities, Smart Retail, Industrial Production and by various regions.
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