Integration Platform as a Service Market Trend to Eyewitness Huge Growth $37.9 billion by 2031

WILMINGTON, DE, UNITED STATES, October 10, 2024 /EINPresswire.com/ -- As per the report, the global integration platform as a service market size accounted for $3.4 billion in 2021, and is expected to reach $37.9 billion by 2031, growing at a CAGR of 27.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Increase in importance of cloud real-time monitoring in business sectors and adoption of hybrid and multi-cloud infrastructure have boosted the growth of the global integration platform as a service market. Moreover, sure in demand for streamline business process and surge in adoption of cloud services among SMEs would open new opportunities in the future.

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Integration Platform as a Service (iPaaS) is a suite of cloud services enabling development, execution, and governance of integration flows connecting any combination of on premises and cloud-based processes, services, applications, and data within individual or across multiple organizations. Furthermore, the key factors that drive the integration platform as a service market trend include adoption of hybrid and multi-cloud infrastructure and the surge in importance of cloud real-time monitoring in business sectors.

However, factors such as technological skill gaps in workforce and interoperability issues are expected to hamper the integration platform as a service market growth. On the contrary, rise in demand for streamline business process and growth in cloud adoption among SMEs are expected to offer remunerative opportunities for the expansion during the integration platform as a service market forecast.

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By region, the global integration platform as a service market across North America held the largest share in 2021, accounting for nearly two-fifths of the market, due to higher spending on IPaaS services in the region. However, the market across Asia-Pacific is expected to showcase the highest CAGR of 29.9% during the forecast period, owing to rise in proliferation of cloud and mobile technologies in the region.

Major market players

Boomi Inc.
Celigo
DBSync
elastic.io
Flowgear
Microsoft Corporation
IBM Corporation Jitterbit Inc.
Oracle Corporation
SAP SE
MuleSoft LLC
Scribe Software Corporation
Seeburger AG
SnapLogic Inc.
TIBCO Software Inc.
Workato Inc.
Zapier

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The report analyzes these key players of the global integration platform as a service market. These players have adopted several strategies including expansion, partnerships, new product launches, and others to boost their market penetration and strengthen their foothold in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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