Hybrid Integration Platform Market- Latest Trends, Growth, Opportunities and Forecast 2022

The hybrid integration platform is a combination of on-premises and cloud-based systems that are connected to a communication network, supporting the integration of on-premises, cloud, and hybrid endpoints. The platform narrows the gap between the existing enterprise (databases, applications, and legacy systems) and cloud computing services (Software as a Service (SaaS)/Platform as a Service (PaaS), Business-to-Business (B2B), Business-to-Customer (B2C), and Bring Your Own Device (BYOD)).

The growing need for integrating on-premises and cloud applications for driving digital business transformation, the increasing demand for hosting apps, data, and services on the cloud, and hybrid integration platforms’ capabilities to tackle the business challenges is driving the hybrid integration platform market. 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%.

The hybrid integration platform market is broadly classified by integration type, service, organization size, vertical, and region. The integration type segment is segmented into cloud integration, application integration, B2B integration, and data integration. The scope of the service type covers digital business services and professional services, where the digital business services has been further segmented by data integration tools, Application Programming Interface (API)management, Integration Platform as a Service (iPaaS), Managed File Transfer (MFT), Enterprise Service Bus (ESB), Sofrware as a Service (SaaS), endpoint integration, and communication gateway services. Additionally, the research study has been further segmented by organization size into SMEs and large enterprises. The applications of hybrid integration platform across different verticals, along with the regional segmentation is included in the hybrid integration market research study.

The application integration type is expected to gain traction in the hybrid integration platform market. It is estimated to have the largest market share and the fastest growth during the forecast period. The need for improving business process and increasing the efficiency is a key growth driver for the application integration type. The increased spending for application integration platform by enterprises has resulted in improved management of IT infrastructure, data integrity, and has reduced redundancies. Application integration type provides a cost-effective and solitary solution for integration of systems and application across an enterprise, resulting in improved business efficiency, enhanced scalability, and reduced IT costs.

Digital business service is estimated to hold the largest market share in the hybrid integration platform market. Digital business services enable enterprises to enhance their business presence by means of converging the business functionalities into digital processes. The customers in today’s era expect businesses’ digital presence on social media, website, and mobile applications. The advent of connected technologies has pushed enterprises to become connected. Technologies such as analytics, social media, IoT, and cloud enable enterprises enable digital transformation. The digital business services considered for the hybrid integration platform market are API management, MFT, iPaaS, ESB, SaaS, and endpoint integration.

The telecommunication, IT, and ITES vertical is projected to grow at the highest CAGR during the forecast period. The hybrid integration platform’s ability to connect across on-premises, cloud, and hybrid environment bridges the gap between legacy systems and new technologies to deliver digital transformation. The BFSI vertical is estimated to hold the largest market share during the forecast period. The BFSI sector provides substantial opportunities for the growth of hybrid integration platform market, due to the need of complex integration between cloud services and on-premises systems.

North America is expected to hold the largest market share and APAC is projected to grow at the highest CAGR during the forecast period. The adoption of the hybrid integration platform has increased due to the high growth and maturity of cloud infrastructures. This generates the demand for workload management and automation tools for different cloud environment. The hybrid integration platform market delivers various benefits to organizations, such as unified automation, optimized workflows, agility, and monitoring. North America and Europe have been the early adopters of cloud computing technology among the other regions, due to the presence of many technologically advanced players and increased expenditure on the IT infrastructure. APAC is said to be experiencing a huge growth, as many big players are expanding their market shares by unlocking the huge potential in this region.

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