Integration Platform-as-a-Service Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)
The Integration Platform-as-a-Service Market is expected to register a CAGR of 26% during the forecast period. The rapidly increasing requirement for advanced systems in order to improve the overall process of development, management, and deployment of enterprise applications across the globe has been driving the market. Moreover, the recent advancements in the field of big data, cloud computing, and the Internet of Things within organizational processes have also driven the expansion of iPaaS solutions.
Key HighlightsThe Integration Platform-as-a-Service Market is highly competitive owing to the presence of multiple small and large vendors in the market operating in domestic and international markets. The market appears to be moderately concentrated, with the major players adopting strategies like product innovation and mergers and acquisitions in order to increase their solutions portfolio and expand their geographic reach. Some of the major players in the market are Dell Boomi, Inc., Informatica Corporation, and Mulesoft, among others.
In August 2022, Cloud Inventory, a provider of mobile-first inventory solutions, and Boomi, an intelligent connectivity and automation leader, announced an expanded partnership to provide faster, easier integration for customers. The partnership mainly empowers companies using any ERP platform to connect applications, data, people, and devices quickly. This enables optimizing key processes, including accounting, order management, inventory, and procurement.
In July 2022, TIBCO Software Inc., a provider of enterprise data, announced significant enhancements to TIBCO Cloud Integration, its industry-recognized iPaaS offering, powered by TIBCO Cloud. This expands the overall potential for integrating data, applications, and devices across various hybrid environments, helping customers grapple with a volatile business world to enhance business outcomes. TIBCO Cloud Integration also delivers remarkably faster automation of all the business processes and integration of digital assets across the enterprise. By speeding up and simplifying app development, businesses can respond to market trends faster, building a competitive advantage for customers.
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