Report : North America Integration Platform as a Service (IPaaS) Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Service Type (Cloud Service Orchestration, Data Transformation, API Management, Data Integration, Realtime Monitoring and Integration, Business-to-Business and Cloud Integration, Application Integration, and Others), Deployment Type (Public Cloud, Private Cloud, and Hybrid Cloud), Enterprise Size (SMEs and Large Enterprises), and Industry (IT and Telecommunications, Government and Public Sector, Consumer Goods and Retail, Energy, Healthcare, Manufacturing, BFSI, and Others)Â
Cloud Service Orchestration Segment to Dominate North America Integration Platform as a Service (IPaaS) Market during 2019–2028
According to a new market research study on “North America 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$ 4,440.68 million by 2028 from US$ 1,217.74 million in 2021. The market is estimated to grow at a CAGR of 20.3% from 2021 to 2028. Rise in Importance of cloud real-time monitoring across businesses is the major factor driving the growth of the North America integration platform as a service (IPaaS) market. However, rising concerns regarding data security may hinder the growth of North America integration platform as a service (IPaaS) market. The report provides trends prevailing in the North America integration platform as a service (IPaaS) market along with the drivers and restraints pertaining to the market growth.
It is becoming apparent with the COVID-19 pandemic spreading across the US that few can escape its scope, presenting significant challenges to all industries. Thus, any impact on industries directly affects the region's economic development. The unprecedented rise in the number of COVID-19 cases across the US and the subsequent lockdown to combat the spread of the virus across the country in the last quarter of 2019 and the first two quarters of 2020 led numerous businesses on a standby situation. Technological investments in 2020 experienced a dip owing to the reasons mentioned above. However, the outbreak of the COVID-19 pandemic has influenced work from home scenarios across the region, thereby influencing the companies to adopt cloud servers for the smooth functioning of business operations remotely. The region in the late 2020’s experienced a rise in investment in cloud solutions in order to facilitate easy remote working. Thus, the rising adoption of cloud solutions and platforms across all organizations in the region is influencing the rise in demand for platform integration services, thereby contributing to the growth of the market.
The North America integration platform as a service (IPaaS) market segmented by service type, deployment type, enterprise size, industry, and country. Based on service type, the North America 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 North America integration platform as a service (IPaaS) market. Based on deployment type, the North America 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 North America integration platform as a service (IPaaS) market is segmented into SMEs and large enterprises. In 2020, the large enterprises segment held the largest share North America integration platform as a service (IPaaS) market. Based on industry, the North America 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 US, Canada, and Mexico. The US 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 North America 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, Informatica had announced a cloud platform that employs microservices and an AI engine to combine data management capabilities and enable data and application programming interface (API) integration.
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