Integration Platform as a Service Market Size To Reach $2.7 Billion By 2024, To Be Driven By Rising Demand For Innovative Systems To Enhance Implementation, Development & Enterprise Management Processes | Million Insights
FELTON, Calif., Feb. 23, 2021 /PRNewswire/ -- The global integration platform as a service (IPaaS) market size is projected to touch USD 2.70 billion by 2024, as per the report released by Million Insights. Increasing demand for innovative systems to enhance the process of implementation, development, and enterprise management worldwide is the key factor propelling the growth of the IPaaS market. Further, increasing advancement in IoT, big data, and cloud computing within the organization process also accelerate the product demand over the estimated period.
Integration Platform as a Service is a growing technology in which process, application, data, and application programs are deployed. The deployment allows the enterprise to lower the difficulty of operations and offer excellent connection to cloud facilities. The deployment also saves time by offering a unified platform for several applications.
Technologies suitable and compatible with API lifecycle management and Integration flow implementation have widely preferred with the incorporation of IoT and B2B services with cloud-driven platforms. The IPaaS combines all such services and its uses in a unified platform. The services include API and IoT with a constant rise in vendors and users, thereby, supplementing the product demand over the forecast period.
IPaaS hybrid category was the leading deployment division in 2016 and is anticipated to witness sluggish growth in the upcoming years. It held for 43% market share in 2016. The hybrid deployment unit was the major service category in 2016 and is predicted to foresee considerable growth over the forecast years.
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North America is predicted to grow significantly over the forecast period owing to the operation of robust service providers. The region held more than 55.7% of overall revenue share in 2016. Asia Pacific is expected to witness rapid growth due to the presence of developing nations such as India and China.
Further key findings from the report suggest:
Million Insights has segmented the global integration platform as a service market on the basis of solution, services, enterprise type, vertical type, and region:
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