According to the new market research report "Hybrid
Integration Platform Market by Integration Type (Application Integration, Data
Integration, B2B Integration, and Cloud Integration), Service Type,
Organization Size (Large Enterprises and SMEs), Vertical, and Region - Global
Forecast to 2022"", published by MarketsandMarkets™, the hybrid
integration platform market size is expected to grow from USD 17.14 Billion in
2017 to USD 33.60 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of
14.4% during the forecast period.
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The demand for the hybrid integration platform market is
expected to be driven by the increasing demand for hosting apps, data, and
services on the cloud, the growing need for integrating on-premises and cloud
applications for driving digital business transformation, and the hybrid
integration platforms’ capabilities to tackle the business challenges. With the
increasing need for digital business transformation among the enterprises across
the verticals, the hybrid integration platform market is expected to gain a
major traction during the forecast period.
The hybrid integration platform application integration type
segment is expected to contribute the largest market share
The hybrid integration platform by application integration type
is expected to hold the largest market share in 2017 and 2022. Application
integration is an integration framework that forms middleware, a collection of
technologies and services to enable the integration of systems and applications
across an enterprise. Small and large organizations implement application
integration, as it has become a mission-critical priority to connect different
applications and support application collaboration across the enterprises to
improve the overall business efficiency, enhance the scalability, and reduce
the IT costs. These advantages of application integration may lead to enhance
the growth of the hybrid integration platform market.
Browse and in-depth TOC on " Hybrid
Integration Platform Market "
74 - Tables
38 - Figures
159 – Pages
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Professional services segment is expected to grow at the highest
CAGR during the forecast period
Professional services are delivered to customers after they
purchase a product. Services are an integral part in deploying the solutions in
an organization, imparting training, and handling and maintaining the use of
the software. The growth of the professional services segment is mainly
governed by the complexity of operations and the growing deployment of the
hybrid integration platform in organizations. Companies offering these services
encompass consultants and dedicated project management teams that specialize in
the design and delivery of critical decisions, and support software, tools,
services, and expertise.
Banking, Financial Services, and Insurance (BFSI) vertical is
expected to contribute the largest market share
The BFSI vertical collectively includes organizations that are
into banking services, such as core banking, corporate, retail banking,
investment, private, and card banking; financial services, such as payment
gateways, stock broking, and mutual funds; and insurance services, covering
both life and general insurance policies. Today, every financial transaction
has shifted from paper to the digital form. Partners and customers demand
transactions, fund transfers, credit approvals, and other activities to be
performed anytime, anywhere, on any device. The hybrid integration platform can
meet these demands by allowing financial organizations to integrate complex
data flows from different sources in no time. The hybrid integration platform
in banking and financial sectors enable the development, execution, and
governance of integration workflows among on-premises and cloud-based
applications to enhance the data quality and security. These benefits are
expected to drive the growth of the hybrid integration platform market in the
BFSI vertical.
North America is expected to
contribute the largest market share, whereas Asia Pacific (APAC) is estimated
to grow at the highest CAGR during the forecast period
North America is expected to hold the largest
market share and dominate the hybrid integration platform market from 2017 to
2022. There are various factors, which are said to be driving the adoption of
hybrid integration in this region, such as the diversification of services
being delivered and shift of focus from Software as a Service (SaaS) to hybrid
integration platforms for infrastructure and platforms. Another factor is the
increasing need to integrate data and processes between the public cloud and
on-premises applications. The APAC region is in the initial growth phase;
however, it is likely to be the fastest-growing region in the global hybrid integration
platform market. The growth is likely to be driven by factors, such as the
increased spending on improving the infrastructure, the emergence of advanced
and secured cloud-based solutions, and the growing acceptance of cloud-based
solutions and the emerging technologies, such as IoT, big data analytics, and
mobility..
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