Asia Pacific 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

Asia Pacific 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) 

The integration platform as a service (IPaaS) market in Asia-Pacific is expected to grow from US$ 499.55 million in 2021 to US$ 2,259.69 million by 2028; it is estimated to grow at a CAGR of 24.1% from 2021 to 2028. Migrating the workloads to the cloud can be beneficial for SMEs as cloud-based services facilitate these enterprises to reduce costs and give them access to IT services. The increasing use of cloud platforms, coupled with digital connectivity in the business, is enabling SMEs to enhance their productivity with easy access to cloud-based applications and software. Valuable characteristics of cloud-based solutions such as cost-effectiveness, scalability, and agile infrastructure, offer a steady growth in the market. Further, the growth of SMEs in emerging economies is another significant factor offering growth opportunities to cloud solutions, thereby influencing the demand for integration platforms as a service. Government initiatives to support cloud adoption by SMEs in these economies are also influencing the market's growth. For instance, the Indian government offers a subsidy of US$ 1,500 to micro and small enterprises for encouraging them to deploy cloud computing. The enhanced broadband speed and the rise in the bring-your-own-device (BYOD) trend are propelling the market's growth through SMEs in emerging economies. The rising inclination of SMEs toward cloud adoption offers lucrative growth opportunities to the players operating in the Asia-Pacific integration platform as a service (IPaaS) market.

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.

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 a larger share in Asia-Pacific integration platform as a service (IPaaS) market. IPaaS is frequently used by large enterprises that run enterprise-level systems to integrate applications and data on premises and in public and private clouds. Digitalization has become increasingly popular among giant corporations. Due to a large workforce, organizations are seeing an increase in broadband connection and mobility trends. Large corporations have a vast corporate network as well as numerous revenue streams. Further, these businesses are eager to invest in new and cutting-edge technology to run their operations more efficiently. The IPaaS industry has a stronghold among large organizations because their IT infrastructure is more complicated than SMEs. The growing desire for employees to access computing resources and apps remotely has made it difficult for businesses to effectively store data, maintain and operate data centers, and focus on their core business operations. The factors mentioned above are driving the segment's growth in the market.

The overall Asia-Pacific integration platform as a service (IPaaS) market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Asia-Pacific integration platform as a service (IPaaS) market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, and to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia-Pacific integration platform as a service (IPaaS) market. Boomi, Inc.; IBM Corporation; Informatica; Microsoft Corporation; Mulesoft, LLC; Oracle Corporation; SAP SE; Seeburger AG; SnapLogic; and Software AG are a few key players operating in the Asia-Pacific integration platform as a service (IPaaS) market.

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