A hybrid integration platform enables on-premises solutions to integrate with cloud-based applications in a seamless and secure manner, which allows the IT team to fast track innovation and enhances efficiency while lowering the risk factors in integration accomplishment.
As per Market Research Future (MRFR), the global Hybrid Data Integration Platform Market is expected to rise at a robust CAGR of 14% during the forecast period of 2017-2023. The report has also determined the growth trajectory of this market, along with the contributing factors. This report states that the global Hybrid Data Integration Platform Market is likely to reach a market revenue valuation of $40 billion by the end of the review period.
Having an on-cloud IT infrastructure is not compatible with all company models, and security risks can be a challenging factor for them. Hence, many companies deploy some level of on-premises infrastructure. However, with rapid technological advancements, on-premises IT infrastructure has started becoming antiquated. Hybrid integration platform has paved the way to solve this unique problem. It allows businesses to use on-premises and on-cloud-based deployments to suit their needs. This makes hybrid integration platforms scalable, flexible, and hence, adaptable, driving the global market.
Apart from that, hybrid integration platforms have higher economies of scale, and aid in the augmentation of operational efficiency, while helping businesses stay relevant and gain a competitive edge over market rivals. Security concerns in relation to cloud integrations are mitigated by keeping sensitive data on-premises, while all other data is kept on-cloud for higher efficiency and bandwidth. All these factors are contributing to the ascension of the global Hybrid Data Integration Platform Market over the forecast period.
The global Hybrid Data Integration Platform Market has been segmented by integration type, service type, organization size, vertical, and region. Based on integration type, the market segments studied in the report include cloud integration, data integration, B2B integration, and application integration.
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Based on service type, the report has analyzed the market for the segments of digital business services and professional services. Digital business services segment is further segmented into software as a service (SaaS), managed file transfer, enterprise service bus, data integration tools, application programming interface management, communication gateway services, B2B gateway, and message-oriented middleware. Professional services segment is sub-segmented into training and consulting, and support and maintenance.
Based on organization size, the global Hybrid Data Integration Platform Market is segmented into large enterprises and SMEs. Based on vertical, the global market is studied for the segments of manufacturing, BFSI, IT and telecommunication, government and public sector, and retail.
Some of the noteworthy competitors in the global Hybrid Data Integration Platform Market include Software AG (Germany), Informatica (U.S.), Dell Boomi (U.S.), MuleSoft (U.S.), International Business Machines Corporation (U.S.), TIBCO Software Inc. (U.S.), Oracle Corporation (U.S.), Liaison Technologies (U.S.), WSO2 (U.S.), Red Hat (U.S.) and others.
Detailed Regional Analysis
Geographically, the Hybrid Data Integration Platform Market is segmented into the regions of North America, Latin America, the APAC, Europe, and the Middle East & Africa. Among these regional segments, the global Hybrid Data Integration Platform Market is led by North America in the foremost position, with Europe and Asia Pacific taking up second and third largest market shares respectively.
The US is expected to dominate the country-specific market for Hybrid Data Integration Platform Market over the forecast period. Canada is also expected to showcase fast-paced ascension during the review period. This is due to the rising demand for integration of cloud-based and on-premises applications in several end-user industries that are residing in the region. Further, with the presence of a sophisticated infrastructure has enabled seamless adoption of new and advanced technologies, hence, driving the regional Hybrid Data Integration Platform Market.