The integration platform as a service (IPaaS) market is expected to value at US$ 2,306.32 million in 2021, and it is projected to reach US$ 8,844.20 million by 2028; it is expected to grow at a CAGR of 21.2% from 2021 to 2028.

The increasing inclination of SMEs toward cloud is boosting the growth of the market. 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 world, is enabling SMEs to enhance their productivity with an 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 platform as a service. Government initiatives to support cloud adoption by SMEs in these economies are also influencing the growth of the market. For instance, the Indian government offers a subsidy of ~US$ 1,500 to micro and small enterprises for encouraging them to deploy cloud computing. Moreover, the enhanced broadband speed and the rise in trend of bring-your-own-device (BYOD), are propelling the growth of the market through SMEs in emerging economies. The rising inclination of SMEs toward cloud adoption offers lucrative growth opportunities to the players operating in the integration platform as a service (IPaaS) market.

The unprecedented rise in number of COVID-19 cases across the globe and the subsequent lockdown to combat the spread of the virus in the first two quarters of 2020 have led to numerous businesses to come on a standby situation. In 2020, technological investments experienced a dip, owing to the above-mentioned reasons. However, the COVID-19 pandemic has accelerated the work from home scenarios across the globe, thereby influencing the companies to adopt cloud servers for smooth functioning of business operations remotely. In late 2020, global companies 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 globe is expected to influence the rise in demand for platform integration services, thereby contributing to the growth of the market over the forecast period.

The global integration platform as a service market is segmented into service type, deployment, enterprise size, industry, and geography. In terms of service type, the IPaaS market is categorized into cloud service orchestration, data transformation, API management, data integration, real-time monitoring and integration, business-to-business and cloud integration, application integration, and others. Based on deployment, the IPaaS market is categorized into public cloud, private cloud, and hybrid cloud. Based on enterprise size, the IPaaS market is categorized into small and medium size enterprises and large size enterprises. Based on industry, the IPaaS market is categorized into telecommunications, government and public sector, consumer goods and retail, energy, healthcare, manufacturing, BFSI, and others. Additionally, based on region, the IPaaS market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Key players operating the global IPaaS market include Informatica; elastic.io; Software AG; Seeburger AG; Mulesoft, LLC; SAP SE; Oracle Corporation; SnapLogic.; IBM Corporation; Microsoft Corporation; and Boomi, Inc.

The overall global 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 an overview and forecast for the integration platform as a service (IPaaS) market with respect to all the segments. 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 of this 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 integration platform as a service (IPaaS) market.