PUBLISHER: Markets & Data | PRODUCT CODE: 1604469
PUBLISHER: Markets & Data | PRODUCT CODE: 1604469
Integration Platform as a Service Market Assessment, By Service, By Deployment Mode, By Company Size, By Industry, By Region, Opportunities and Forecast, 2017-2031F
Global integration platform as a service (iPaaS) market is projected to witness a CAGR of 30.55% during the forecast period 2024-2031, growing from USD 8.52 billion in 2023 to USD 71.89 billion in 2031.
The integration platform as a service market is developing rapidly, especially due to the increased use of cloud computing. According to Cloud Security Alliance, cloud usage grew from 91% in 2020 to 98% in 2024, while more than USD 560 billion has been spent on public cloud services. This huge growth emphasizes the need for integration capability between the cloud and on-premises systems, a basic function of the integration platform as a service market.
Organizations with cloud migrations are increasingly looking to provide their organizations with data synchronization capabilities, application connectivity, workflow automation, and hybrid and multi-cloud configurations. Moreover, the integration platform as a service market solution offers capabilities to optimize investments in the cloud and increase the efficiency of operations. It also benefits from the rise of API-driven models and the digital transformation of companies as the management of complex integrations requires scalable platforms. With such increasing dependency on cloud-based infrastructure, an integration platform as a service market is critical for a business's streamlined and smooth operation.
For example, in September 2024, Jitterbit, Inc. launched its AI-infused, low-code Harmony platform for integration, orchestration, automation, and application development, aiming to simplify complex IT environments and drive innovation in global organizations.
Adoption of Software as a Service (SaaS) Driving Growth in Integration Platform as a Service (iPaaS) Market
The increasing adoption of software as a service is a major growth driver for the integration platform in the service market. According to BetterCloud's State of SaaSOps report, companies are leveraging an average of 80 IT-sanctioned SaaS apps which is five times since 2021. It also reveals that 70% of business applications will be based on SaaS by 2024, and it is expected to grow to 85% by 2025. Integrating multiple systems, data sources, and workflows with the increased number of SaaS applications is challenging. Therefore, integration platforms as a service (iPaas) solutions enable seamless integration of SaaS applications with other existing IT infrastructures so that business organizations can automate processes and synchronize data in their systems. With a growing reliance on SaaS, the demand for integration platforms as a service market is increasing rapidly, and companies must manage complicated application environments very effectively.
For example, in July 2023, Jitterbit, Inc. launched Harmony EDI, a cloud-based, self-managed EDI solution integrated with its Harmony platform, offering enhanced flexibility, automated workflows, and seamless integration for businesses of all sizes.
Adoption of Internet of Things (IoT) Fueling the Integration Platform as a Service Market
The adoption of the Internet of Things (IoT) is further fueling the growth of the integration platform as a service market. According to Ericsson AB, the overall count of cellular IoT connections reached 3.4 billion in 2023, and it is expected to grow by 4 billion by the end of 2024. Therefore, businesses are increasingly depending on integrating IoT devices into their operations. The declining sensor costs, increased mobile adoption, and increased internet connectivity also amplify this growth. As IoT devices generate terabytes of data, integrating and managing it through systems becomes very important. Integration platform as a service market solution allows businesses to connect IoT devices with applications, thereby exchanging data in real-time, automating processes, and ensuring efficient management. The projected growth of the IoT market to reach USD 1.5 trillion by 2025 will naturally continue to increase the need for integration platforms as a service market solution to manage these complex ecosystems.
For instance, in August 2024, Oracle Corporation integrated AT&T Inc.'s IoT connectivity and network APIs into its Enterprise Communications Platform, enhancing its Integration Platform as a Service (iPaaS) capabilities. This integration enables industry applications to utilize real-time communications and manage IoT devices seamlessly across Oracle Cloud Infrastructure.
Government Initiatives Acting as a Catalyst
The growth in the integration platform as a service market is promoted by government policies that encourage the growth in the adoption of cloud and data integration among various sectors. For instance, the United States Cloud Smart Strategy encourages federal agencies to embrace cloud solutions with a real and broad emphasis on providing application and data integration capabilities. Therefore, it generally creates a huge demand for integration platforms as a service market, which connects different systems in diverse ways. Furthermore, the European Union's GAIA-X is a safe, interoperable data infrastructure enabling the integration platform as a service market solution to connect the cloud services across member states efficiently. Government departments are pursued to integrate services and data, further increasing the need for integration platforms as a service market solution. All these initiatives bring in the digital transformation process; hence, the integration platform as a service market is critical for organizations to manage complicated integrations and operation efficiency.
For example, in October 2023, the Digital India Act of 2023 established a comprehensive legal framework for India's digital ecosystem. This initiative supports iPaaS development by addressing emerging challenges, promoting data integration, and enhancing e-governance under the Digital India initiative.
IT and Telecommunications Gaining Traction in the Integration Platform as a Service Market
The IT and telecommunications industry leads the integration platform as a service market due to its critical need for seamless connectivity as well as data integration. With more organizations moving toward different applications and cloud services, the integration platform as a service market allows them to integrate these systems very efficiently. Telecommunications companies handle a large amount of data and need real-time communication among different entities, making it necessary to streamline operations. Moreover, the growing number of IoT devices and the increasing prevalence of mobile applications necessitate stronger integration solutions. The integration platform as a service market enables IT and telecom services companies to enhance their service offering and improve customer experience by bringing faster innovation to the market. This will once again spur investments and development in the solution offerings of the integration platform as a service market, thereby encouraging growth in the market.
North America Dominates Integration Platform as a Service (iPaaS) Market Share
Table of Contents
1. Project Scope and Definitions
2. Research Methodology
3. Executive Summary
4. Voice of Customer
- 4.1. Product and Market Intelligence
- 4.2. Mode of Brand Awareness
- 4.3. Factors Considered in Purchase Decisions
- 4.3.1. Features and Other Value-Added Service
- 4.3.2. IT Infrastructure Compatibility
- 4.3.3. Efficiency of Solutions
- 4.3.4. After-Sales Support
5. Global Integration Platform as a Service Market Outlook, 2017-2031F
6. North America Integration Platform as a Service Market Outlook, 2017-2031F*
7. Europe Integration Platform as a Service Market Outlook, 2017-2031F
8. Asia-Pacific Integration Platform as a Service Market Outlook, 2017-2031F
9. South America Integration Platform as a Service Market Outlook, 2017-2031F
10. Middle East and Africa Integration Platform as a Service Market Outlook, 2017-2031F
11. Porter's Five Forces Analysis
12. PESTLE Analysis
13. Market Dynamics
14. Market Trends and Developments
15. Case Studies
16. Competitive Landscape
17. Strategic Recommendations
18. About Us and Disclaimer
List of Tables
- Table 1. Pricing Analysis of Products from Key Players
- Table 2. Competition Matrix of Top 5 Market Leaders
- Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
- Table 4. About Us - Regions and Countries Where We Have Executed Client Projects
List of Figures
- Figure 1. Global Integration Platform as a Service Market, By Value, In USD Billion, 2017-2031F
- Figure 2. Global Integration Platform as a Service Market Share (%), By Service, 2017-2031F
- Figure 3. Global Integration Platform as a Service Market Share (%), By Deployment Mode, 2017-2031F
- Figure 4. Global Integration Platform as a Service Market Share (%), By Company Size, 2017-2031F
- Figure 5. Global Integration Platform as a Service Market Share (%), By Industry, 2017-2031F
