Application Integration Market Strategy and Remarkable Growth Rate By 2028
According to a research report “Application Integration Market Growth by Offering (Platforms and Services), Integration Type, Application (Customer Relationship Management, Enterprise Resource Planning), Vertical (BFSI, Retail & eCommerce, Automotive) and Region – Global Forecast to 2028″ published by MarketsandMarkets, the global application integration system market size is projected to grow from 15.4 billion in 2023 to USD 38.4 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 20.0% during the forecast period. Heavy IoT investments are driving the growth of the application integration market.
Professional services segment to lead application integration market during the forecast period
Professional services include the assistance provided by external sources to companies that support businesses of all sizes and across industries. Professional services are categorized into three types: consulting, integration, and support and maintenance and are delivered to customers after the purchase of a product. The services are an integral part of deploying the solutions in an organization, imparting training, handling, and maintaining the use of the software.
Business Intelligence segment to have higher growth rate during the forecast period
Business Intelligence is the process of collecting, cleaning, analyzing, and turning business data into actionable insights. It relies on descriptive analytics to understand the occurrence of a business-related event. These insights are delivered through reports and dashboards. Access to various data is required by BI tools to be effective. Nowadays, the sources of data collection for organizations are websites, IoT devices, machines, customers, and various other external sources. Further, the data gets stored in CRM, ERP, and a range of other cloud-based and on-premises systems.
Integration Platform as a Service segment to emerge as the largest market during the forecast period
Integration Platform as a Service (iPaaS) is defined as the platform that enables deployment, governance, management, and integration of any combination of cloud and on-premises applications. iPaaS is a cloud-based service that integrates data, applications, and processes. The platform automates and simplifies integration activities that make connecting applications and data deployed in any environment quickly. As the number of SaaS applications increases, there is a demand for more accessible, self-service ways to connect and manage all the data. iPaaS allows the building and deploying integrations between cloud and on-premises applications and data. It uses an API-led approach without requiring installing or managing any middleware or hardware.
Asia Pacific to grow at the highest rate during the forecast period
Asia Pacific is the fastest-growing region in the application integration market. Leading countries in the region include China, Japan, India, Australia, and New Zealand that have sustainable and well-established economic growth, enabling them to increasingly invest in various R&D activities. This contributes to the development and expansion of the application integration market in the region.
Market Players
The major vendors covered in the application integration market include Salesforce (US), Informatica (US), SAP (Germany), Oracle (US), SnapLogic (US), Software AG (Germany), IBM (US), Microsoft (US), TIBCO Software (US), Celigo (US), Boomi (US), Adeptia (US), WSO2 (US), DBSync (US), Flowgear (South Africa), InterSystems (US), SEEBURGER (Germany), Workato (US), Magic Software (Israel), OpenLegacy (US), Jitterbit (US), Elastic.io (Germany), Talend (US), Tray.io (US), Cyclr Systems (UK), APIFuse (US), and Zapier (US).
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
