Europe 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, Busi

Europe 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 Europe is expected to grow from US$ 443.04 million in 2021 to US$ 1,835.17 million by 2028; it is estimated to grow at a CAGR of 22.5% from 2021 to 2028. Various organizations are willing to adopt hybrid and multi-cloud strategies in the coming years, as these systems are trending in the relevant sectors. Organizations opt for these strategies as they are reluctant to depend on a single cloud vendor. According to IBM Corp, 98% of organizations are planning to utilize multiple hybrid clouds by 2021. Hybrid cloud provides the benefits of both public and private clouds, by enhancing flexibility to work between both the cloud solutions. Further, it enables organizations to protect their confidential data by storing it in the private cloud and simultaneously using the public cloud for storing public data. The requirements of specific applications and functions will differ with the increase in specialized services, which, in turn, encourages the business managers to opt for multi-cloud and hybrid solutions to run the system effectively and efficiently. Moreover, it is cost-effective and mitigates the risk of business loss. The rising adoption of the hybrid cloud also influences the Europe integration platform as a service (IPaaS) market growth. The hybrid model will require proper integration to ensure smooth business functioning over time, thereby contributing to market growth.

In Europe, the COVID-19 pandemic had a different impact on different countries, as only selective countries witnessed the rise in the number of cases and subsequently attracted strict and prolonged lockdown periods or social isolation norms. However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the robust healthcare systems. The sudden outbreak of the COVID-19 across the region led to the standstill of business operations and the closure of several small and medium enterprises across the region. In the initial three to four months of 2020, the region experienced a dip in technological investments across the country. The cloud has emerged as a viable option for combating the COVID-19 pandemic. European businesses have increased their cloud adoption due to constraints imposed by various European countries, which resulted in work-from-home. However, with the stability in remote working conditions, the European region experienced high investments in cloud technologies for facilitating smooth remote working conditions. Thus, expected to have a positive impact in the integration platform as a service (IPaaS) market over the years.

Based on deployment type, the Europe integration platform as a service (IPaaS) market is segmented into public cloud, private cloud, and hybrid cloud. The public cloud segment accounted for the largest market share in 2020. The most common type of cloud computing deployment is public clouds. A third-party cloud service provider owns and operates the cloud resources (such as servers and storage) distributed over the internet. The cloud provider owns and manages all hardware, software, and other supporting infrastructure in a public cloud. Furthermore, it provides a wide range of data recovery options and infrastructures, such as hardware, operating systems, software, and middleware servers, to run applications across several platforms. Furthermore, businesses are adopting public cloud services as they are simple to implement. Moreover, with public cloud solutions, platform solutions such as big data, data analytics, and the Internet of Things became more accessible (IoT). Various enterprises are migrating to public cloud offerings to meet the growing demand for public cloud solutions. The key benefits of the public cloud include lower costs, no maintenance, near-unlimited scalability, and high reliability, thereby increasing the segment’s growth in the market.

The overall Europe 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 Europe 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, as well as 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 Europe integration platform as a service (IPaaS) market. Boomi, Inc.; eastic.io; 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 Europe integration platform as a service (IPaaS) market.

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