The Integration Platform as a service Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 30.3% during the forecast period, to reach USD 13.9 billion by 2026 from USD 3.7 billion in 2021. Growing adoption of hybrid and multi-cloud infrastructure, exponentially increasing cloud real-time monitoring, and the need for business agility, faster deployment, and scalability are the drivers of the market growth.
The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Informatica, Boomi, SAP, Oracle and Mulesoft have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the edge computing market.
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Informatica has a wide range of product offerings in the IPaaS Market. These products are competent enough to handle all major business challenges, with limited operational challenges. Informatica aims to expand its customer base through product portfolio expansion, product enhancement, and business expansion. Its operations are geographically diversified, and it has customers across all industries. As part of enhancing its global platform deployment and operations, Informatica recently launched new Azure-based data centers in EMEA (Germany) and APAC (Singapore) to better support customers’ technical and compliance requirements. Informatica is broadening its cloud and hybrid ecosystem as part of its cloud-neutral strategy. IICS is well-suited for multi-cloud and hybrid integration platform implementations. It offers many capabilities and architectural options for organizations undertaking vast initiatives for modernizing integration infrastructure, and those looking for a broad ecosystem.
Boomi offers the Boomi AtomSphere Platform, which provides application, data and B2B/electronic data interchange (EDI) integration, API management, low-code application development, and master data management (MDM). Boomi demonstrates a strong understanding of EiPaaS market trends by offering a functionally rich platform to small, midsize, and large enterprises. Boomi caters to technical and ad hoc integrators with its low-code application development, data catalog, and data preparation capabilities, enabling its customers to pursue their composable enterprise vision. Boomi has been especially effective in targeting specific industry verticals for growth, including higher education, retail, life sciences, healthcare, and financial services. Customers in these industries stand to benefit from its vertical packages, accelerators, and services. Boomi’s customers are primarily in North America, followed by EMEA and APAC, across diverse vertical sectors. It is increasing its partnerships with local system integrators (SIs) and independent software vendors (ISVs) across EMEA and APAC to extend its market reach. Boomi’s products and services address key customer challenges relating to business integration, automation, the Internet of Things (IoT), event-driven architecture (EDA), and catalog (via the Unifi Software acquisition), to support the integration strategy empowerment team.
Integration Platform as a Service Market with COVID-19 Impact Analysis, by Service Type (API Management, B2B Integration, Data Integration), Deployment Model (Public and Private Cloud), Organization Size, Vertical and Region - Global Forecast to 2026
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