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 Integratio

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) 

The integration platform as a service (IPaaS) market in North America is expected to grow from US$ 1,217.74 million in 2021 to US$ 4,440.68 million by 2028; it is estimated to grow at a CAGR of 20.3% from 2021 to 2028. There can be several objectives for an enterprise to adopt the cloud. It ranges from business drivers, including digital transformation, to operational goals, such as cost-efficiency. Enterprises that run their data center generally design, size, and procure hardware for precise application. This hardware includes computing, storage, and networking, among other specialized equipment. The hardware usually has a lifecycle of three to five years, and it needs to be replaced by a new generation of hardware. Enterprises replace this hardware to attain improved efficiency and performance. Each replacement needs considerable capital expenditures (CAPEX) investment and experienced IT professionals to handle and maintain system function. The cloud-based workload is managed and hosted by the server, and the cost of implementation is lower than on-premise solutions. The users are required to pay as per their usage of cloud storage. Thus, migrating the workload can help enterprises in saving CAPEX, enabling them to move toward a valuable operating expenditure (OPEX) model, thereby creating the demand for enterprises to integrate the cloud platforms with the inbuilt systems of the organization to enable smooth business operation. Additionally, cloud solutions are chosen over on-premise solutions because of their flexibility, stability, and security. Cloud eliminates the problem of maintaining and updating systems, allowing organizations to focus on their primary business goals. Cloud solutions and platforms are being highly adopted across developed countries such as the US, owing to the aforementioned factors. It provides real-time access to systems and data from various devices, irrespective of location, and has a guaranteed up-time. Thus, the high adoption of cloud solutions and platforms among businesses, owing to their advantages over on-premise solutions, is influencing the growth of the North America integration platform as a service (IPaaS) market.

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.

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, realtime monitoring and integration, business-to-business and cloud integration, data transformation, and others. In 2020, the cloud service orchestration segment held the largest share in the North America integration platform as a service (IPaaS) market. The iPaaS software comes with a powerful orchestration engine that can manage complex workflows. It coordinates integration solutions and specifies how and what data can be configured. Workflow visual designers are available to create, construct, and manage integration workflows. As their operations are typically serverless, it is enough to focus on the business value and functionality while the rest of the scaling and infrastructure is abstracted. Low-code orchestration is a feature of several iPaaS solutions that improve business logic speed and convenience. Deployment type orchestration provides an integration mechanism that decouples programs from one another, a technique to manage and monitor integration from a single location, security, message routing, reliability, and transformation capabilities. Further, IT firms use orchestration software to standardize templates and enforce security policies. It is also a good defense against Virtual Machine (VM) sprawl as it gives insight and control over cloud resources and expenses. Developers and line-of-business workers can use cloud orchestration software as a self-service method to deploy resources in sophisticated enterprises. In contrast, managers can track the organization's dependency on multiple IT products and handle chargebacks.

The overall North America 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 North America 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 North America 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 North America integration platform as a service (IPaaS) market.

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