The global hybrid integration platform sector is likely to have a market value of USD 26,576.4 million in 2023 and is expected to accumulate a market value of USD 86,557.1 million by registering a CAGR of 12.5% in the forecast period. The growth of the hybrid integration platform sector is attributed to the increasing penetration of digitization and the need for securing data on cloud platforms.
The market for hybrid integration platforms registered a CAGR of 10.4% in the historical period 2018 to 2022. In the new mobile and cloud world, business decisions are driven by the convergence of social interaction, mobility, cloud, and information. Therefore, in order to increase business value, IT needs to connect cloud-based, mobile, and on-premises resources.
A hybrid integration platform is an evolutionary step in leveraging the cloud to its full potential. The hybrid integration platform is a combination of on-premise and cloud-based systems that are securely connected using transport layer security. A hybrid integration platform integrates data from on-premise systems with cloud data in order to provide a balance between enterprises.
The benefits of hybrid integration platforms such as reduced cost, rapid development, and deployment, and build-in scalability are playing an important role in supporting the rapid adoption of hybrid integration platforms and which ultimately helps in fuelling the growth of the hybrid integration platform business.
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The growing need for integrating on-premise and cloud applications with existing systems in order to drive digital business transformation is the primary growth driver of a hybrid integration platform. Moreover, the advancement in cloud computing technology is playing an important role in driving the growth of the hybrid integration platform sector. Also, the digital era has greatly accelerated the change and evolution of new products, services, and business models.
A hybrid integration platform connects the network that is divided between enterprise and customers & suppliers, BYOD (enterprise mobile), and big data in order to allow the on-premises application to integrate with cloud-based applications ultimately due to this, the adoption of a hybrid integration platform is increasing. Also, the increasing demand for hosting apps, data, and services on the cloud is also one of the key factors due to which the demand for hybrid integration platforms is increasing.
Apart from this, the increase in the number of hybrid integration platform providers and the paradigm shift in the way of developing applications are some of the factors which are fuelling the growth of the hybrid integration platform industry.
Attributes | Details |
---|---|
Hybrid Integration Platform Market CAGR (2023 to 2033) | 12.5% |
Hybrid Integration Platform Market Size (2023) | USD 26,576.4 million |
Hybrid Integration Platform Market Size (2033) | USD 86,557.1 million |
The lack of standardization and uniform integration type for hybrid integration platforms are some of the factors which hinder the growth of the hybrid integration platform business in near future. Also, high cost and security issues are the factors that are likely to restrain the growth of the market.
Country | Market Share (2022) |
---|---|
United States | 16.6% |
Germany | 8.1% |
Japan | 3.2% |
Australia | 2.1% |
North America is anticipated to capture the leading market share regarding revenue, owing to the increasing need to integrate data and processes between the public cloud and on-premise applications and the presence of various key players in the region. In addition, nearly all end-user sectors are using cloud services for storing datasets and managing security threats.
Owing to the reasons mentioned above, North America held a market share of 29.1% for the hybrid integration platform in 2022.
Country | CAGR |
---|---|
China | 10.1% |
India | 14.3% |
Asia Pacific is anticipated to be the second leading market in terms of revenue in the hybrid integration platform Industry over the next coming years due to high digitalization and the increasing spending of enterprises to improve infrastructure. Moreover, the increasing penetration of end-user sectors is easing the complex process of storing information in the Asia Pacific.
Due to the aforementioned above, Asia Pacific procured a 30% market share in 2022.
The hybrid integration platform sector in Europe is expected to witness high growth rates in the coming period due to the emergence of advanced and secured cloud-based solutions. Moreover, the strong presence of the healthcare and automotive industry is increasing the demand for hybrid integration platforms in the region. Europe possessed a 18.3% market share for the market in 2022.
Key start-up players in the hybrid integration platform sector are Virtustream, Hewlett Packard Enterprise, Gigas, Stratoscale, and Quali
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Many big corporations are contending for market dominance in the fiercely competitive market for hybrid integration platforms. In order to provide seamless integration between on-premises and cloud-based apps, systems, and data, these businesses provide a variety of solutions and services.
The market is valued at USD 26,576.4 million in 2023.
The growth potential of the market is 12.5% CAGR through 2033.
Surging need for digital business transformation and advances in cloud computing technology.
Lack of standardization and high cost of hybrid integration platform.
Microsoft Corporation, IBM Corporation, and Oracle Corporation are key players.
Current Year Value (2023) | USD 12.2 billion |
---|---|
Expected Forecast Value (2033) | USD 24 billion |
Projected CAGR (2023 to 2033) | 7% |
Expected Market Value (2022) | USD 55,678.0 Million |
---|---|
Anticipated Forecast Value (2032) | USD 1,87,982 Million |
Projected Growth Rate (2022 to 2032) | 12.9% CAGR |
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