In 2022, the global hybrid integration platform market had a market value of US$ 23,964.3 Million, and by 2032, it is anticipated to grow at a CAGR of 12.3% to reach a market value of US$ 76,227 Million. The market for hybrid integration platforms is expanding as a result of rising levels of digitization and the requirement for data security on cloud platforms. Between 2016 and 2021, the market for hybrid integration platforms experienced a CAGR of 11%.
In the new mobile and cloud world, business decisions are driven by the convergence of social interaction, mobility, cloud, and information. Therefore, in order to increase business value, IT needs to connect cloud-based, mobile, and on-premises resources.
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Hybrid integration Platform connects the network that is divided between enterprise and customers & suppliers, BYOD (enterprise mobile), and big data in order to allow the on-premises application to integrate with cloud-based application and ultimately due to this, the adoption of Hybrid Integration Platform is increasing. Also, the increasing demand of hosting apps, data, and services on the cloud is also one of the major factors due to which the demand for Hybrid integration platform is increasing.
Hybrid Integration Platform is an evolutionary step in leveraging the cloud to its full potential. The hybrid integration platform is a combination of on-premise and cloud based systems which are securely connected using a transport layer security. Hybrid integration platform integrates data from on-premise systems with cloud data in order to provide balance between enterprises.
The benefits of Hybrid Integration Platform such as reduced cost, rapid development and deployment, build-in scalability are playing an important role in supporting the rapid adoption of Hybrid Integration Platform and which ultimately helps in fueling the growth of Hybrid Integration Platform market.
Global Hybrid Integration Platform Market: Drivers and Challenges
Drivers
The growing need for integrating on-premise and cloud applications with existing systems in order to drive digital business transformation is the primary growth driver of Hybrid Integration platform. Moreover, the advancement in the cloud computing technology is playing an important role in driving the growth of Hybrid Integration Platform market. Also, the digital era has greatly accelerated the change and evolution for new products, services and business models.
Apart from this, the increase in the number of Hybrid Integration Platform provider and the paradigm shift in the way of developing applications are some of the factors which are fueling the growth of Hybrid Integration Platform market.
Restraints
The lack of standardization and uniform integration type for hybrid integration platform are some of the factors which may hinder the growth Hybrid Integration Platform market in near future. Also, high cost and security issues are the factors which may restraint the growth of Hybrid Integration Platform market.
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Key Players
The prominent players in Global Hybrid Integration Platform market are: Microsoft Corporation, IBM Corporation, Oracle Corporation, Software AG, Dell Boomi, MuleSoft, TIBCO Software, SnapLogic, Liaison technologies, Infomatica, Axway, and others.
Global Hybrid Integration Platform Market: Regional Overview
On Geographic basis, North America is anticipated to capture largest market share regarding revenue, owing to increasing need to integrate data and processes between the public cloud and on-premise applications and presence of various key players in the region. APAC is anticipated to be the second largest market in terms of revenue in the Hybrid Integration Platform Market over the next coming years due to high digitalization and the increasing spending of enterprises to improve infrastructure.
The Hybrid Integration Platform market in Europe and Latin America are expected to witness high growth rates in the coming period due to the emergence of advanced and secured cloud-based solutions.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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Key Segments Profiled in the Hybrid Integration Platform Industry Survey
Type:
- Application Integration
- Data integration
- Business-to-business integration
- Cloud integration
Application:
- BFSI
- Retail
- Government & public sector
- Manufacturing
- IT and Telecommunication, and others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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