Cloud Integration Market is estimated to grow at a CAGR of 16.7% by 2023

According to the new market research report by IndustryARC titled “Cloud Integration Market: By Deployment Model(Private, Public & Hybrid Clouds) Integration(Cloud to Cloud, Cloud to On-premise, Others) End-users(Large, Small & Medium Enterprises) Industry(Supply Chain, Manufacture, IT, Logistics, Transportation, Healthcare, Others)-Forecast (2018-2023)“, the market revenue is estimated to grow from $594 Million in 2017 to $1.286 Billion by 2023, at a CAGR of 16.7% during the forecast period.

Cloud integration platform has made the processes or services integration critical for a sustainable future for any involved stakeholder in the market. Cloud integration solutions that are entitled to be utilized in commercial entity or business organization, is a collection of various activities whose purpose is to provide dedicated requirement. The market for IT services in recent years has become highly competitive, not merely because of the existence of several numbers of service providers, but due to the expectations of customers to test and evaluate the new services instantaneously. This call for a platform where new applications can be developed, tested and launched rapidly, thus creating a robust demand for cloud hosting.

America & Asia-Pacific continues to lead the market share and growth during 2018-2023.

North America solution providers have seen the large scale adoption of cloud based technologies across industries, which  will bolster the use of silicon photonics in data centers as they are a more efficient and cost-effective technology. APAC is estimated to experience a rapid growth rate of CAGR 24.36% and projected to reach $256 million by 2023 because of the increasing adoption of cloud integration across all industry verticals, thereby boosting market growth. Americas region is leading the cloud integration market in terms of revenue and is accounted for $357.2 million in 2017 and is estimated to reach $588.7 million by 2023 with a CAGR of 11.69%. 

IT & Telecommunications segment remains the dominant sector of cloud integration market in 2017 with 64% share, followed by supply chain & manufacturing sector with around 13% share. Both IT & Telecommunications and supply chain & manufacturing sectors are estimated to maintain their respective positions in the market by 2023, with a CAGR of 12.6% and 21.6% respectively during the forecast period between 2017and 2023. The key trend of cloud integration is the number of cloud services used in large organizations. The integration, with its service ranging from large CRM, ERP, HR and Finance cloud application to data storage services such as Dropbox, to infrastructure services such as Amazon EC2 Services, to social apps such as Twitter, Facebook, LinkedIn and others, has growth both in public and private sectors. 

Integration cloud service in the past couple of years has witnessed a rapid upsurge in its utilization across the globe. The factors driving such demand is being attributed to the advantages associated with Cloud Integration that includes: Time to Value, Reduction in Capital & Operational Expenditure and Compatibility with Legacy Systems. These advantages have provided leverage for rapid and seamless integration of Cloud Services across various organizations. 

Companies like Informatica, Dell Boomi, and Snaplogic are the major players in the cloud integration  marketplace in 2017. The survey states the shares will reach up to 62% due to higher rate of adoption and development. These companies are significantly growing their cloud services, by investing largely in the research and development of new products.