DUBLIN--(BUSINESS WIRE)--The "Hybrid Integration Platform Market - Growth, Trends and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The hybrid integration platform market is anticipated to witness a CAGR of 12.0% over the forecast period 2019 - 2024
Hybrid Integration Platforms can be considered as a facilitator for the industries which have been going through digital transformation. The reason being, the mere deployment of cloud in the operations cannot make the businesses leverage it to fully optimize their operations.
One of the major roadblocks which come up frequently in cloud adoption is the integration of cloud and on-premise applications. Because of this, the organizations face problems like latency in their operations which eventually leads to missed deadlines and dissatisfied customers along with a lot more unresolved issues. Hybrid Integration Platform not only ensures seamless integration of various business applications, but also a secure gateway for the transaction of data across different hosting environments.
- The demand for hybrid cloud in recent years has gained traction and along with it the need for hybrid integration platforms for its successful deployment. The levels of cost saving and scalability achieved by the successful deployment of hybrid cloud have increased the organizations' competency across industries and hence the other players in the industry also intend to leverage that which broadens the scope for the technology.
- The digital business transformation has become a top priority for the majority of the organizations. 92% of the IT and business leaders accept that digital business initiative is a core aspect of their competitive business strategy out of which 44% of them expressed it as their number one priority.
- Interoperability across various cloud environments and security of the data remains a concern for many organizations. This is where the hybrid integration platform comes into play. It not only facilitates the continuous exchange of data for applications hosted in different environments, but it also provides a secure gateway for the transaction of data which caters to the security aspect of the hybrid cloud to a great extent.
Scope of the Report
Hybrid integration platform provides integration and migration services in various forms such as application integration, data integration, B2B Integration, cloud integration, managed file transfer, big data integration, IoT integration, and many others.
Key Market Trends
Growth in Cloud Integration Services Across End-user Industries
- Enterprises across regions are switching to cloud to benefit in terms of agility, operational innovation, cost-effectiveness, scalability and the ability to respond faster. Most importantly, enterprises exhibit multi-cloud usage, i.e. they may be dependent on one enterprise application vendor like Salesforce for CRM and marketing cloud, and platform providers like AWS for the development cloud.
- In industries like finance and healthcare, where compliance standards are rigid, the enterprises often have a mix of public, on-premise servers and private cloud solutions, owing to the regulatory compliance and data security measures they need to adhere to.
- RightScale, a prominent cloud service provider reported the trend that enterprises are shifting from a hybrid strategy (combining public and private clouds) to multiple public or private clouds. In 2018 January, the company reported that the percentage of enterprises with hybrid strategy fell from 58% in 2017 to 51% in 2018, while a slight increase in organizations with a strategy of multiple public clouds or multiple private clouds was observed.
Asia-Pacific is the Fastest Growing Region in the Global Hybrid Integration Platform Market
- Asia-Pacific has seen more adoption of digitized services in the region as the governments in this region have been pushing for digitization to improve efficiency and make the market more attractive for foreign investment. Singapore, for instance, lags in private cloud adoption but 82% of the enterprises in the country have entirely adopted the hybrid cloud. Other Asia-Pacific regions displayed modest growth, with South Korea 32%, Hong Kong 23%, Australia at 16%, and Malaysia 12% respectively.
- The adoption of the public cloud has yet to penetrate the Asian market significantly. No city in the region had more than 30% adoption, and South Korea is leading the group followed by Malaysia, Australia, Hong Kong, and Singapore. The increased adoption of the cloud services in the region has been triggered by favorable government regulations in the countries of the region towards digitization.
Competitive Landscape
With the presence of many regional as well as global players, the global market for hybrid integration platform is expected to be fragmented in nature.
Cleo Communications, Inc., elastic.io GmbH, IBM Corp., Microsoft Corporation, MuleSoft, LLC (Salesforce.com), Oracle Corporation, SnapLogic Inc., Software AG, TIBCO Software Inc., and Wipro Limited are some of the major players present in the current market.
However, all these players are involved in competitive strategic developments such as partnerships, new product development, and market expansion to augment their leadership position in the global hybrid integration platform market.
- May 2018 - Salesforce completed the acquisition of Mulesoft for USD 6.5 billion which was 32% more than Mulesoft's market capitalization.
- May 2018 - Liaison Technologies partnered with Tierion to Extend Blockchain Capabilities to ALLOY Platform.
- March 2018 - Snaplogic announced integration with Adobe Cloud Platform in order to close the customer experience gap.
Market Dynamics
Market Drivers
- Increasing adoption of BYOD
- Increasing adoption of hybrid cloud
Market Restraints
- Risks involved in open source integration
Snapshot of The Types of Hybrid Integration Platform
- Application Integration
- Data Integration
- B2B Integration
- Cloud Integration
- Managed File Transfer
- Other Types
Industry Attractiveness - Porter's Five Force Analysis
Companies Mentioned
- Cleo Communications, Inc.
- elastic.io GmbH
- IBM Corporation
- Microsoft Corporation
- MuleSoft, LLC (Salesforce.com)
- Oracle Corporation
- SnapLogic Inc.
- Software AG
- TIBCO Software Inc.
- Wipro Limited
For more information about this report visit https://www.researchandmarkets.com/r/6zsuow
