The global integration platform as a service market is expected to grow at a CAGR of approximately 22% during the forecast period 2017-2023. Rising demand among the end users for integration platform as a service solution is driving the growth of the market. Additionally, innovations and advancements in technology, and increasing market for integration platform as a service is responsible for driving the market growth.
Growing demand for integration platform as a service across various industry verticals is set to drive the growth of the integration platform as a service market. Increasing traction of cloud computing applications is one major factor responsible for fueling the growth of the global integration platform as a service market. Also, the extensive need for efficient processes for developing and managing enterprise applications and increasing deployment of the cloud-based application is another factor boosting the market growth.
Major Key players
The global integration platform as a service market is segmented by service type, deployment, organization size and vertical. Based on service type, the market is segmented into cloud service orchestration, data transformation, API management, data integration, real-time monitoring & integration, business to business (B2B) & cloud integration, application integration, training & consulting and support & maintenance. The cloud service orchestration sub-segment is expected to hold the largest market share of the integration platform as a service market during the forecast period. Whereas, the application integration service sub-segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing demand for integration platform services across various industry verticals. However, the high initial investments and interoperability issues are major factors that could cause hindrance in the growth of global integration platform as a service market.
The global integration platform as a service market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the highest rate during the forecast period. The growth of the market in North America region is attributed to technological advancements and increased adoption of integration platform as a service application across various industry verticals.
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