Cloud integration is a structure of tools and technologies that connects various applications, systems, storage, and IT infrastructure for the real-time exchange of data and processes. Once integrated the data and cloud services can then be accessed by multiple devices over a network platform or via the internet. Cloud integration software was created to break down data silos into fixed data formats which improves the connectivity and visibility, and ultimately optimize business processes. Cloud integration software fulfil the need to share data among cloud-based applications and to unify information components. Cloud integration software has grown in popularity as the use of Software as a Service (SaaS) solutions continues to increase.
Impact of COVID-19 on Cloud Integration Software Market:
- During COVID-19 crisis, there is a growth in demand for cloud infrastructure services and potential increases in spending on specialized software which will have a positive impact on the cloud integration software market.
- There will be a demand for cloud-based applications as the remote workforce increases due to government-initiated lockdown.
- Specific solutions such as secure endpoint & network management, conferencing & collaboration, CRM, backup & recovery solutions, cloud storage, and remote sustenance & facilities will continue to witness a steady rise amidst the crisis.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The Integration Platform as Service (IPAAS) is an emerging trend to include on-premises applications and cloud-based applications. This in turn will increase the acceptance of cloud integrating software at a higher rate. Increasing demand for cloud-based enterprise presentations and increasing demand for cloud computing services have contributed to the growth of the cloud integration software market. Moreover, increase in adoption of cloud data integration platforms among different industry verticals such as BFSI, healthcare, manufacturing, telecommunications, and retail is also expected to boost the growth of the cloud integration software market. However, integration of multiple data sources and data security may hinder the growth of the cloud integration software market to a certain extent. Contrarily, cloud integrations software are extensively being adopted in many organizations to help organizations utilize the benefits of cloud integration by developing IT infrastructure through cost-effective and flexible solutions.
Cloud integration software in BFSI
Advancements in industrial IT infrastructure across the globe has led to the growth of the cloud data integration platform adoption. Cloud integration software is used in the core banking service to integrate the various data and applications by using the IT and business model transformation such as google wallet, apple wallet, Pay pal & other. Cloud integration software develop and transform the banking system, which creates a new way to maximize profitability and returns through data integration.
Emerging trend of IPaaS in cloud integration market
Emerging trend of Integrations Platform as a Service (IPAAS) for integrating the cloud-based application with one another and with the on-premises applications is rising the demand for cloud integration software. IPaaS is often used by business-to-business (B2B) organizations that need to integrate on-premises applications and data with cloud applications and data. IPaaS helps in streamlining the business procedure and carries composed administration's essentials into a cloud-based toolset. IPaaS is scalable and has the capability to meet the increased data volume from mobile and other environments which give the users enhanced overall experience.
Key benefits of the report:
- This study presents the analytical depiction of the global cloud integration software industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cloud integration software market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global cloud integration software market analysis based on competitive intensity and how the competition will take shape in coming years.
Cloud Integration Software Market Report Highlights
By Organization size
By Industry Verticals
Key Market Players
Piesync BVBA, Informatica, Microsoft Corporation, SAP SE, Carbonite Inc., SnapLogic, IBM Corporation, Oracle Corporation, Salesforce Inc.