The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Overview of Market Growth

1. The iPaaS market has experienced exponential growth, surging from $4.13 billion in 2023 to $5.35 billion in 2024.
2. Compound annual growth rate (CAGR) of 29.5% attributed to:
   • Cloud adoption and evolution
   • Shift towards hybrid IT environments
   • Complexity of enterprise applications
   • API economy and API-centric integration
   • Rapid growth in SaaS adoption

Future Growth Projections

1. Expecting continued exponential growth, reaching $15.5 billion in 2028.
2. Forecasted CAGR of 30.5% driven by:
   • Adoption of hybrid and multi-cloud environments
   • Increasing demand for real-time data integration
   • Integration of AI and machine learning capabilities
   • Scalability and flexibility requirements
   • Ecosystem expansion and connectivity offerings

Major Trends in Forecast Period

• Continuous improvement in integration monitoring and analytics
• Shift towards citizen integrators and self-service models
• Growing importance of data governance and compliance
• Focus on API-centric integration
• Acceleration of digital transformation initiatives

Elevated Global Adoption Of Cloud Solutions Fueling Growth

• Inclination towards cloud-based solutions driving iPaaS market growth globally.
• Increased demand for cloud-based solutions due to pandemic-induced shutdowns.
• Cloud computing expected to account for over 45% of IT spending by 2024.
• Major advantage of cloud solutions includes quick deployment, data security, and automatic updates.

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Key Players in the Market

• Boomi Inc., Informatica Inc., SAP SE, Oracle Corporation, and others leading the market.
• Offering diverse integration solutions to meet evolving customer needs.

Rising Adoption Of AI And ML

• Integration of AI and ML transforming iPaaS market.
• AI and ML addressing data integration challenges effectively.
• Example: IBM and Pandio developed hybrid integration solutions automating the integration process using AI.
• Acquisition of eBridge Connections by Jitterbit enhancing integration solutions in e-commerce and EDI.

Market Segmentation

• Segmented by cloud type, service type, and verticals.
• Cloud types include private, hybrid, and public.
• Service types cover API management, B2B integration, data integration, cloud integration, application integration, and others.
• Verticals include education, healthcare, government, consumer goods, banking, and more.

Regional Insights

• North America emerged as the largest region in the iPaaS market in 2023.
• Reflecting the region’s technological advancement and early adoption of cloud solutions.

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The Integration Platform As A Service Global Market Report 2024  provides an overview of the integration platform as a service market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The integration platform as a service market forecast analyzes integration platform as a service market size, integration platform as a service market share, leading competitor and their market positions.

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