BFSI Sector and Asia-Pacific Spearhead the Rapid Growth of Cloud … – GlobeNewswire

Dublin, July 31, 2023 (GLOBE NEWSWIRE) -- The "Cloud Integration Software Market (2023-2028)" report has been added to ResearchAndMarkets.com's offering.

Cloud Integration Software Market Set to Soar with a Projected CAGR of 12.5% during the Forecast Period

Cloud integration, also known as Integrated Platform as a Service (iPaaS), is revolutionizing the way companies connect cloud solutions and avoid creating information silos. With a focus on security and reliability, successful cloud integration enables organizations to streamline operations and leverage the benefits of cloud-based enterprise applications.

Key Market Insights:

Integrated Platform as a Service (iPaaS) Emerges as a Leading Trend

Integrations platform as a service (iPaaS) has gained prominence as the emerging trend for integrating cloud and premises applications. Platforms like Cloud Hub provide fully managed, globally available, and secure cloud solutions that eliminate the need for hardware maintenance, ensuring seamless application integration.

Growing Demand for Cloud-based Enterprise Applications Drives Market Growth

The cloud integration software market is witnessing robust growth due to the increasing demand for cloud-based enterprise applications and cloud computing services. Various industries are embracing cloud data integration, leading to market expansion. Moreover, advancements in industrial IT infrastructure worldwide have further accelerated the adoption of cloud data integration solutions.

Market Trends: BFSI Sector and Asia-Pacific Region

The BFSI sector is expected to experience significant growth during the forecast period. Banking and financial services are increasingly relying on data integration software platforms to provide real-time insights for sales and service teams. Cloud integration plays a crucial role in modernizing the BFSI industry, enabling secure storage, interoperability, and cost savings.

The Asia-Pacific region is poised for substantial market growth, driven by the rising adoption of cloud-based applications, increased IT infrastructure spending, and a focus on process automation. Countries like Singapore, Australia, New Zealand, Japan, and South Korea have established favorable ecosystems for cloud services, leading to increased demand for iPaaS solutions.

Competitive Landscape:

The cloud integration software market is highly competitive, characterized by a fragmented landscape without dominant players. Major companies operating in this market include Microsoft Corporation, Oracle Corporation, Informatica Corporation, SAP SE, and SnapLogic Inc. Mergers and acquisitions are prevalent, contributing to the market's growth and innovation.

Company Profiles featured in the report:

For more information about this report visit https://www.researchandmarkets.com/r/bb506a

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BFSI Sector and Asia-Pacific Spearhead the Rapid Growth of Cloud ... - GlobeNewswire