New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research, the Global Integration Platform as a Service (iPaaS) Market is forecasted to boom at a CAGR of 25.6% from 2023 to 2033. The report forecasts the market to reach a revenue of US$ 53.88 billion by the end of 2033.
Growing adoption of hybrid and private cloud infrastructure is driving the need for integration platform as a service because iPaaS solutions are designed to integrate on-premise and cloud-based applications and data. These solutions allow organizations to connect and manage their various systems and applications more efficiently, regardless of where they are hosted. Additionally, the use of hybrid and private cloud infrastructure can increase security and compliance for sensitive data, which is also driving the demand for iPaaS solutions. As a result, more and more organizations are turning to iPaaS to help them manage their hybrid and private cloud environments.
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Key Takeaways from Market Study
- By solution, iPaaS platform (cloud integration platform) will account for a high market share.
- By organization size, medium-sized enterprises (100–499 employees) are estimated to witness staggering growth at a CAGR of 33.7%.
- By deployment, the hybrid cloud segment is expected to surge ahead at a CAGR 30.7%.
- North America is estimated to be the market leader for iPaaS solutions with a market share of 36.6%, followed by Europe with 24.2%, and East Asia with 20.7%.
“The iPaaS market is driven by increasing adoption of cloud-based services and the need for seamless integration of various software systems. Organizations are increasingly using iPaaS solutions to connect their on-premise and cloud-based systems and integrate their various software applications and data sources. Additionally, growing trend of digital transformation and rising need for automation and real-time data integration are also expected to drive market growth,” says a Persistence Market Research analyst.
Key Companies-
- KEMET Corp.
- KYOCERA AVX Components Corp
- Murata Manufacturing Co. Ltd.
- NICHICON Corp
- Nippon Chemi Con Corp
- Panasonic Corp
- Ryosan Co
- Samsung Electro Mechanics Co. Ltd
- TAIYO YUDEN CO. LTD.
- Yageo Corp
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Increasing Adoption of Cloud Computing to Complement Market Expansion
Increase in the adoption of cloud computing is driving the integration platform as a service market because it allows for greater scalability and flexibility in the integration of various applications and data sources. iPaaS solutions are designed to simplify and automate the integration process, making it easier for organizations to connect and manage different systems and data.
Additionally, the cloud-based delivery model of iPaaS solutions allows for more cost-effective and efficient integration as compared to traditional on-premise integration solutions. Overall, the growth of cloud computing is driving the demand for iPaaS solutions as more and more organizations look to integrate their systems and data into the cloud.
More Valuable Insights on Offer
Persistence Market Research’s report on the Integration platform as a service (iPaaS) industry is segmented into five major sections –
- solution (iPaaS platform (cloud integration platform)),
- services (integration & deployment services, support & maintenance services),
- deployment (public cloud, private cloud, hybrid cloud),
- organization size (small offices (1 to 9 employees), small enterprises (10 to 99 employees), medium-sized enterprises (100 to 499 employees), large enterprises (500 to 999 employees), very large enterprises (1,000+ employees)),
- industry (BFSI, healthcare, retail, government, IT & telecom, media & entertainment, manufacturing, others).
- region (North America, Latin America, Europe, East Asia, South Asia, and Pacific, and the Middle East and Africa).
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Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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- KEMET Corp.
- KYOCERA AVX Components Corp
- Murata Manufacturing Co. Ltd.
- NICHICON Corp
- Nippon Chemi Con Corp
- Panasonic Corp
- Ryosan Co
- Samsung Electro Mechanics Co. Ltd
- TAIYO YUDEN CO. LTD.
- Yageo Corp
