Integration Platform-as-a-Service Market Size (2024 - 2029)

Integration Platform-as-a-Service Market Analysis

The Integration Platform-as-a-Service Market size is estimated at USD 12.98 billion in 2024, and is expected to reach USD 58.72 billion by 2029, growing at a CAGR of 35.23% during the forecast period (2024-2029).

The rapidly increasing requirement for advanced systems to improve the overall process of development, management, and deployment of enterprise applications across the globe has been driving the market.

• Moreover, the recent advancements in big data, cloud computing, and the Internet of Things within organizational processes have also driven the expansion of iPaaS solutions. According to British Broadcasting Corporation, cloud providers such as Microsoft, Amazon Web Services, Alicloud, and Google Cloud Platform have grown their revenues between 25% and 100%. This growth has shown transformative results, including efficiencies and innovations that drive enduring business change at scale and speed.
• The robust players in the market landscape have continuously enhanced their platforms by including API management, data hubs, b2b integration, and workflow automation, among others believed to be the next-generation integration technologies. The iPaaS vendors aim to position themselves in the enterprise application architecture.
• Furthermore, with the increasing considerations of crucial elements such as data-centric and IoT-focused integrations, real-time synchronization, and mobility, cloud-based integration is incorporated. Enterprises today increasingly use CRM systems to integrate their customer service systems. However, there is still a gap in integrating these CRM systems with the ERP and BI/Analytics. The IPaaS solutions give enterprises a 360-degree view of their customers, help them access sensitive information, and automate their business processes.
• In November 2022, Qlik launched a cloud-based new data integration platform service that combines data from disparate sources in real-time. Qlik Cloud Data Integration is mainly an enterprise integration platform as a service developed for use by data engineers who prepare and cultivate their organization's data, especially for data-informed decision-making. The new integration platform as a service joins data cataloging and preparation capabilities in one place, allowing organizations to ready their data in real time for analysis. The Platform also comprises a set of services, which are primarily designed to form an information fabric and can be used by the organisation in order to make it possible to bring together data sources so that they can gain a complete new view of their data.
• However, the high investment involvement initially in deploying IPaaS solutions could restrain the overall market's growth throughout the forecast period.
• The coronavirus pandemic affected the cloud industry; hence, multiple providers responded to this sudden surge in demand and increased interest in cloud infrastructure. Furthermore, during the post-COVID-19, companies from various industries have realized the benefits of cloud computing beyond the immediate need generated by the COVID-19 pandemic. Hence, they are well-indulged in bringing out a broad spectrum of cloud-based solutions and services.

Integration Platform-as-a-Service Industry Segmentation

An integration platform-as-a-service (iPaaS) is a managed solution primarily for hosting, designing, and integrating cloud data and applications. An iPaaS provides solutions from infrastructure and data warehousing to application design and DevOps environments. These iPaaS solutions can primarily simplify the integration of data, applications, security, and business compliance.

The studied market is segmented by deployment models (public cloud, private cloud, and hybrid cloud), end-user verticals (BFSI, retail & e-commerce, healthcare & life science, manufacturing, it & telecom, media & entertainment), and geography (North America, Europe, Asia Pacific, Latin America, Middle East & Africa). The impact of macroeconomic trends on the market is also covered under the scope of the study. Further, the disturbance of the factors affecting the market's evolution in the near future has been covered in the study regarding drivers and constraints. The market sizes and predictions are provided in terms of value in USD for all the above segments.