CHICAGO, May 4, 2023 /PRNewswire/ -- The growing need for the automation of mission-critical business processes is driving the growth of the Application Integration Market.
The global Application Integration Market size is projected to grow from USD 15.4 billion in 2023 to USD 38.4 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 20.0% during the forecast period, according to a new report by MarketsandMarkets. Heavy IoT investments are driving the growth of the Application Integration Market.
Browse in-depth TOC on "Application Integration Market"
329 - Tables
45 - Figures
278 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2017-2028 |
Base year considered | 2022 |
Forecast period | 2023-2028 |
Forecast units | Value (USD Million/Billion) |
Segments covered | Offering, Integration Type, Application, Vertical, and Region |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Companies covered | Salesforce (US), Informatica (US), SAP (Germany), Oracle (US), SnapLogic (US), Software AG (Germany), IBM (US), Microsoft (US), TIBCO Software (US), Celigo (US), Boomi (US), Adeptia (US), and many more. |
Professional services segment to lead Application Integration Market during the forecast period
Professional services include the assistance provided by external sources to companies that support businesses of all sizes and across industries. Professional services are categorized into three types: consulting, integration, and support and maintenance and are delivered to customers after the purchase of a product. The services are an integral part of deploying the solutions in an organization, imparting training, handling, and maintaining the use of the software.
Business Intelligence segment to have higher growth rate during the forecast period
Business Intelligence is the process of collecting, cleaning, analyzing, and turning business data into actionable insights. It relies on descriptive analytics to understand the occurrence of a business-related event. These insights are delivered through reports and dashboards. Access to various data is required by BI tools to be effective. Nowadays, the sources of data collection for organizations are websites, IoT devices, machines, customers, and various other external sources. Further, the data gets stored in CRM, ERP, and a range of other cloud-based and on-premises systems.
Integration Platform as a Service segment to emerge as the largest market during the forecast period
Integration Platform as a Service (iPaaS) is defined as the platform that enables deployment, governance, management, and integration of any combination of cloud and on-premises applications. iPaaS is a cloud-based service that integrates data, applications, and processes. The platform automates and simplifies integration activities that make connecting applications and data deployed in any environment quickly. As the number of SaaS applications increases, there is a demand for more accessible, self-service ways to connect and manage all the data. iPaaS allows the building and deploying integrations between cloud and on-premises applications and data. It uses an API-led approach without requiring installing or managing any middleware or hardware.
Asia Pacific to grow at the highest rate during the forecast period
Asia Pacific is the fastest-growing region in the Application Integration Market. Leading countries in the region include China, Japan, India, Australia, and New Zealand that have sustainable and well-established economic growth, enabling them to increasingly invest in various R&D activities. This contributes to the development and expansion of the Application Integration Market in the region.
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Application Integration Market Dynamics
Driver:
- Rising need to eliminate data silos and improve productivity
- Growing demand for automation of mission-critical business processes
- Rapid adoption of integration tools to boost ROI
Restraint:
- Limited awareness regarding Enterprise Application Integration (EAI) within organizations
- Need for high initial investments.
Opportunities:
- Growth in B2B integration
Challenges:
- Data inaccessibility due to widespread storage
- Difficulty in integrating new application software with traditional IT infrastructure
- Incompatibility between third-party integration and product interface.
Market Players
The major vendors covered in the Application Integration Market include Salesforce (US), Informatica (US), SAP (Germany), Oracle (US), SnapLogic (US), Software AG (Germany), IBM (US), Microsoft (US), TIBCO Software (US), Celigo (US), Boomi (US), Adeptia (US), WSO2 (US), DBSync (US), Flowgear (South Africa), InterSystems (US), SEEBURGER (Germany), Workato (US), Magic Software (Israel), OpenLegacy (US), Jitterbit (US), Elastic.io (Germany), Talend (US), Tray.io (US), Cyclr Systems (UK), APIFuse (US), and Zapier (US).
Recent Developments:
- In March 2023, Oracle extended its collaboration with NVIDIA to allow the functioning of NVIDIA AI applications on the new Oracle Cloud Infrastructure (OCI) Supercluster.
- In September 2022, AWS and Salesforce announced the integration between the Salesforce platform and Amazon SageMaker to enable customers to use ML modeling services on the Salesforce platform.
In December 2021, IBM announced a global relationship with Mulesoft to deliver increased integrations and solutions around the IBM Z product family to support financial services and other mutual customers.
Application Integration Market Advantages
- Businesses can connect their many programmes and systems through application integration, which helps them to streamline operations, automate procedures, and get rid of manual labour. Businesses may benefit from this by operating more cost-effectively and productively.
- Application integration minimises the possibility of mistakes and inconsistencies by ensuring that data is synchronised and current across all platforms. This can assist organisations in making decisions that are based on reliable, current data.
- Businesses may deliver a seamless and consistent consumer experience across many channels, including as the web, mobile, and social media, by connecting their various apps and systems. Customer loyalty and satisfaction may increase as a result.
- Businesses can quickly respond to shifting client demands, market circumstances, and emerging technology thanks to application integration. They can use this to stay one step ahead of the pack and stay relevant in their field.
Report Objectives
- To determine, segment, and forecast the global Application Integration Market by offering, integration type, application, vertical, and region in terms of value
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- To provide detailed information about the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the Application Integration Market
- To study the complete value chain and related industry segments and perform a value chain analysis of the Application Integration Market landscape
- To strategically analyze macro and micro-markets with respect to individual growth trends, prospects, and contributions to the total Application Integration Market
- To analyze industry trends, pricing data, and patents and innovations related to the Application Integration Market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the Application Integration Market
- To profile key players in the market and comprehensively analyze their market share/ranking and core competencies
- To track and analyze competitive developments, such as mergers and acquisitions, new product launches and developments, partnerships, agreements, collaborations, business expansions, and Research and Development (R&D) activities.
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