An iPaaS acts as a conduit for communication between multiple systems, allowing for integration and data sharing by connecting otherwise disjointed systems.
The Integration Platform-as-a-Service (iPaaS) market is estimated to be worth $23.7 billion by 2028, increasing at a CAGR of 37.2% from 2021 to 2028, according to Verified Market Research.
The growing adoption of iPaaS among businesses is being led by the need for cost-effective cloud usage. Organizations are adding more cloud tools and add-ons to their primary package than ever before, which has pushed forward the necessity of integration services.
In comparison to even five years ago, the additional layers of plugins required for proper cloud security and connectivity is pressing more organizations to find a holistic solution that covers all integrations.
“iPaaS is a platform that connects otherwise disjointed systems to deliver a unified solution to customers,” said Christina Perricone, senior manager of content marketing at Hubspot. “It acts as a conduit for communication between multiple systems, allowing for integration and data sharing. As we deepen our cloud dependency, iPaaS becomes integral to nearly every business model.”
In addition to the integration benefits, iPaaS can also provide operational and development teams with faster time-to-market, through integration with DevOps and agile application development. It also enables organizations to scale more rapidly.
In the study by Verified Market Research, it identifies SAP, Dell Boomi, IBM, Informatica, MuleSoft, Oracle, Jitterbit, Snap Logic, Celigo and Scribe Software as the key players in this industry.
It anticipates that in the next six years, there will be more platform sophistication, which will make iPaaS platforms even more reliable and necessary for businesses of all shapes and sizes. Acquisitions of smaller iPaaS sellers is also expected.