According to a new report, published by KBV research, The Global Application Integration Market size is expected to reach $44.7 billion by 2029, rising at a market growth of 19.9% CAGR during the forecast period.
The Enterprise Application Integration segment is showcasing a CAGR of 20.2% during (2023 - 2029). EAI employs hub-and-spoke architecture. The hub is the integration application, and the spokes extend out to the other apps. Through almost real-time connectivity between apps, EAI enables the IT team to automate business operations. The Enterprise Service Bus (ESB), which routes messages between consumer and producer applications, is now the most used EAI solution. For integrating on-premises apps in big businesses, this method works effectively.
The Enterprise Resource Planning segment is leading the Global Application Integration Market by Application in 2022 thereby, achieving a market value of $15.4 billion by 2029. ERP systems are designed to manage and consolidate data from various departments and processes within an organization. Application integration ensures seamless data flow between the ERP system and other applications such as customer relationship management (CRM), supply chain management (SCM), human resources (HR), and finance.
The Services segment has shown the growth rate of 21.6% during (2023 - 2029). Services in this industry have been divided into managed and professional services. The administration of a solution's whole lifecycle requires professional services. Managed services evaluate company networks, keep an eye on the condition of the infrastructure, and carry out remote maintenance tasks. In addition, these services offer security and professional assurance, which boosts productivity throughout the entire company.
The BFSI segment is generating the highest revenue share in the Global Application Integration Market by Vertical in 2022 thereby, achieving a market value of $11 billion by 2029. With technological improvements transforming the end-user experience for consumers and businesses, the BFSI sector has been booming. People are adopting a variety of applications for managing their finances as a result of BFSI's sector disruption with novel applications and advancements. For increased productivity and efficiency, it can automate processes between systems, transfer data between SaaS and on-premises systems, and automate regular data entry.
The North America market dominated the Global Application Integration Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $15.3 billion by 2029. The Europe market is exhibiting a CAGR of 19.2% during (2023 - 2029). Additionally, The Asia Pacific market would showcase a CAGR of 20.9% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/application-integration-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Fujitsu Limited, Hewlett-Packard Enterprise Company, IBM Corporation, Microsoft Corporation, Salesforce, Inc. (MuleSoft), Oracle Corporation, SAP SE, Software AG, Tibco Software, Inc. (Vista Equity Partners) and Itransition Group.
By Integration Type
By Application
By Offering
By Vertical
By Geography
Companies Profiled
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