Hybrid Integration Platform Market Size To Expand at a Notable CAGR Of 14% During 2017 - 2023

Pune, India, March, 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Hybrid Integration Platform Market. 

Market Insights

The global hybrid integration platform market is due to grow at a healthier than average CAGR of 14% during the assessment period from 2017 to 2023. Market Research Future has determined that the growth trajectory of the market as predicted in the report is expected to result in a market value of USD 40 Bn by the end of 2023. Hybrid integration platforms are a highly useful solution to integrate on-premise IT infrastructure with cloud-based applications. This helps companies leverage the benefits of both cloud-based solutions and on-premise solution.

Having a primarily on-cloud IT infrastructure is not necessarily prudent for all companies, and with security risks being a challenging factor, many companies have some level of on-premise infrastructure. However, with technology moving as rapidly as it is, on-premise IT infrastructure is quickly becoming antiquated. The solution to this unique problem is the hybrid integration platform as it allows businesses to use both on-premise and on-cloud based deployments to suit needs. This makes hybrid integration platforms fairly flexible and scalable, thus driving the global market. Hybrid integration platforms are also cost-effective and help improve operational efficiency while helping businesses stay relevant and competitive in their given market. Security concerns regarding cloud integrations are mitigated by keeping sensitive data on-premise while all other data can be uploaded to the cloud for better efficiency. Although most businesses use on-premise, many are increasingly integrating with the cloud and since full cloud integrations can be tricky and risky, many businesses are opting for hybrid integration, thus driving the global market considerably.

Market Segmentation

The segmentation of the hybrid integration platform market is carried out on the basis of integration type, service type, organization size, vertical and region. On the basis of integration type, the hybrid integration platform market is segmented into cloud integration, data integration, B2B integration and application integration. Based on the service type, the market is divided into digital business services and professional services.  The digital business services type segment is further divided into managed file transfer, enterprise service bus, software as a service, endpoint integration, data integration tools, application programming interface management, and communication gateway services. The professional services segment is additionally segmented into training & consulting and support & maintenance. On the basis of organization size, the hybrid integration platform market is segmented into SMEs and large enterprises. Based on the vertical, the hybrid integration platform market is segmented into BFSI, manufacturing, IT & telecommunication, retail, government & public sector among others. The region taken into consideration in the hybrid integration platform market is Asia Pacific, North America, Europe and Rest of the World.

Regional Analysis

The region-based analysis of the hybrid integration platform market is studied in regions such as Asia Pacific, Europe, North America, and Rest of the World. It has been identified that the North American region is anticipated to be responsible for the major share of the hybrid integration platform market, while the Asia Pacific region is anticipated to increase at a swift pace during the forecast period. The key development in the hybrid integration platform market in the North American region is accredited to the technical developments and the increasing requirement for integrating on-premise and cloud-based platforms in the region.

Key Players

The significant contributors in the hybrid integration platform market globally are Informatica (U.S.), Software AG (Germany), Dell Boomi (U.S.), MuleSoft (U.S.), TIBCO Software, Inc. (U.S.), International Business Machines Corporation (U.S.), Liaison Technologies (U.S.), WSO2 (U.S.), Oracle Corporation (U.S.), Red Hat (U.S.) and others.