South 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

South 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 South America is expected to grow from US$ 58.58 million in 2021 to US$ 101.71 million by 2028; it is estimated to grow at a CAGR of 8.2% 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. The rising inclination of SMEs toward cloud adoption offers lucrative growth opportunities to the players operating in the South America integration platform as a service (IPaaS) market.

Brazil has reported the largest number of cases of COVID-19 in South America, followed by Ecuador, Chile, Peru, and Argentina, among others. The pandemic compelled several country governments to impose lockdowns and suspend economic activities to contain the spread of the virus. Due to the strict lockdown imposed by the governing bodies, the countries experienced a decline in adopting rapid technologies and automation across the region. However, post the first quarter of 2020, with remote working culture being highly adopted, the organization made huge investments in cloud technologies, thereby contributing to the growth of the market over the years.

Based on industry, the South 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 accounted for the largest market share in 2020. The telecom sector needs massive data management due to the vast amounts of data created daily. Cloud-based solutions are used in the IT industry for project management, operational scheduling, connecting developers and clients, and digital data management. The telecommunications industry benefit from cloud computing as it allows businesses to focus on their core strengths, such as network connectivity, security, client relationships, and end-to-end service-level monitoring. IPaaS standards provide IT, users with more options by allowing interoperability and mobility between cloud environments.

The overall South 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 South 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 South America integration platform as a service (IPaaS) market. IBM Corporation; Informatica; Microsoft Corporation; Mulesoft, LLC; Oracle Corporation; SAP SE; and Software AG are a few players operating in the South America integration platform as a service (IPaaS) market.

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