IPaaS Market: USD 10.25B Growth by 2027, 38% in North America – Technavio
The IPaaS (Integration Platform as a Service) market is
projected to witness substantial growth, with an estimated increase of USD
10.25 billion from 2022 to 2027, progressing at a CAGR of 25.97%.
Geographically, the global IPaaS market is segmented into North America,
Europe, APAC, the Middle East and Africa, and South America. North America is
anticipated to hold a significant share, around 38%, during the forecast
period, attributing its dominance to a robust demand for efficient integration
and connectivity solutions.
The IPaaS market is characterized by a fragmented vendor
landscape, featuring global and regional players like Boomi, Microsoft, Oracle,
SAP, and others. The market's segmentation includes service types such as API
management, B2B integration, data integration, and cloud integration, with
the API management segment expected to exhibit substantial growth. Key driving
factors include increased digital
transformation initiatives and a growing trend towards business process
automation. However, security and data privacy concerns pose significant
challenges to market growth, emphasizing the need for robust measures to ensure
data protection during integration processes.
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