Large Enterprises Segment to Dominate Asia-Pacific Integration Platform as a Service (IPaaS) Market during 2019–2028
According to The Insight Partners market research study on “Asia-Pacific Integration Platform as a Service (IPaaS) Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Service Type, Sheath Type, Deployment Range, Enterprise Size, and Industry,” is expected to reach US$ 2,259.69 million by 2028 from US$ 499.55 million in 2021. The market is estimated to grow at a CAGR of 24.1% from 2021 to 2028. Advantages of cloud solutions and platforms over on-premise solutions is the major factor driving the growth of the Asia-Pacific integration platform as a service (IPaaS) market. However, rising concerns regarding data security may hinder the growth of Asia-Pacific integration platform as a service (IPaaS) market. The report provides trends prevailing in the Asia-Pacific integration platform as a service (IPaaS) market along with the drivers and restraints pertaining to the market growth.
The COVID-19 pandemic has severely impacted Asia-Pacific due to the widespread of the disease as the countries in this region are among the highly populated countries in the world, which leads to the greater risk of infection spread. Many global brands and technology companies are headquartered in the region. According to the Organization for Economic Co-operation and Development (OECD), the pandemic affected major economies of countries such as China, India, Australia, and Japan, which are experiencing inflation. The rapid outbreak of the COVID-19 has led to strict lockdowns across the region since the starting of 2020. Some parts of the region like India are still facing lockdowns due to rising cases across the country. The region has experienced the closure of all business activities in the initial months of 2020, thereby negatively impacting the market growth. However, with the rising remote working across the region, organizations started investing in cloud technologies to work efficiently in remote conditions. Thus, the rise in adoption of cloud solutions and platforms are creating demand for IPaaS solutions, thereby contributing to the growth of the market.
The Asia-Pacific integration platform as a service (IPaaS) market segmented by service type, deployment type, enterprise size, industry, and country. Based on service type, the Asia-Pacific integration platform as a service (IPaaS) market is segmented into cloud service orchestration, application integration, API management, data integration, real- time monitoring and integration, business-to-business and cloud integration, data transformation and others. In 2020, the cloud service orchestration segment held the largest share Asia-Pacific integration platform as a service (IPaaS) market. Based on deployment type, the Asia-Pacific integration platform as a service (IPaaS) market is segmented into public cloud, private cloud, and hybrid cloud. The public cloud segment accounts for largest market share in the 2020. Based on enterprise size, the Asia-Pacific integration platform as a service (IPaaS) market is segmented into SMEs and large enterprises. In 2020, the large enterprises segment held the largest share Asia-Pacific integration platform as a service (IPaaS) market. Based on industry, the Asia-Pacific integration platform as a service (IPaaS) market is segmented into IT and Telecommunications, government and public sector, consumer goods and retail, energy, healthcare, manufacturing, BFSI, and others. The IT and Telecommunications segment accounts for largest market share in the 2020. Similarly, based on country, the market is segmented into China, Japan, South Korea, India, Australia, and rest of APAC. China contributed a substantial share in 2020.
Boomi, Inc.; IBM Corporation; Informatica; Microsoft Corporation; Mulesoft, LLC; Oracle Corporation; SAP SE; Seeburger AG; SnapLogic; and Software AG are among the leading companies in the Asia-Pacific integration platform as a service (IPaaS) market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, SnapLogic, provider of the #1 Intelligent Integration Platform, had announced new features and enhancements that boost user productivity and improve platform performance and reliability, helping technical and non-technical development teams realize faster time-to-value from integrations.
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