Hybrid Integration Platform Market is analysed to grow at a CAGR of 16.31% during the forecast 2022-2027 to reach $42.34 billion by 2027. Hybrid Integration Platforms can be considered as a facilitator for a wide range of industries which have been going through digital transformation. With the increasing deployment of cloud-based solutions such as cloud integration, cloud data migration, application integration and others to acquire various enterprise services such as managed file transfer which promotes the adoption of integration platform as a service tend to be a major driving factor for the growth of Hybrid Integration Platform market size during the forecast period. Furthermore, rising government initiatives for the deployment of hybrid integration platform in healthcare sector is analysed to propel the Hybrid Integration Platform industry across the globe. For instance, in January 2021, Allscripts Healthcare Solutions announced a strategic partnership with the U.S Orthopaedic Alliance (USOA). This partnership was aimed to improve electronic health records (EHR) implementation timelines with the deployment of hybrid integration cloud platform to create community-wide connectivity with value-based care analytics.
Hybrid Integration Platform Market Segment Analysis – By Integration Type
By Integration Type, the Hybrid Integration Platform Market Report is segmented into Application Integration, Data Integration, B2B Integration, and Cloud Integration and Others. Application Integration are analysed to be the highest growing segment with a CAGR of 19.11% among other integration types of Hybrid Integration Platform Market during the forecast period 2022-2027 owing to the increase in the demand of cloud-based tools which integrate various applications with the systems of end-use industries. Application integration combines data and functions from one application program with another to simplify and automate business processes to the greatest extent possible. This integration framework forms a middleware and a collection of technologies and services that enable the integration of systems and applications across an enterprise, improving the overall business efficiency, enhancing the scalability, and reducing the IT costs. For instance, on October 2021, Cerner Corporation, an US based Technology Company which works on application development and integration, support, and maintenance solutions launched Cerner RevElate which is aimed to reduce complexity of managing data and workflow for large health systems and influence clinical, billing and payer workflows by deployment of application integration solutions across the healthcare enterprise.
Hybrid Integration Platform Market Segment Analysis – By End-Use Industry
By End-use Industry, the Hybrid Integration Platform Market Report is segmented into Banking, Finance Services and Insurance (BFSI), Retail, Government & Public Sector, Healthcare, IT & Telecommunication, Manufacturing and Others. Healthcare industry is analysed to be the highest growing segment with a CAGR of 18.31% among other industries of Hybrid Integration Platform Market during the forecast period 2022-2027 owing to the growing demand of efficient and smooth functioning cloud-based solutions in this sector. Cloud-based solutions offers wide range of benefits to the healthcare sector such as easy access to medical records, huge data storage, scalability, remote patient care and many others. Furthermore, with the sudden increase in the number of Covid-19 positive cases, no hospital across the globe was ready to intake and treat this huge number of patients with high frequency. This brought the sense of deploying virtual solutions for treatment and management of patients which is analyzed to be major driving factor for the growth of Hybrid integration platform in Healthcare sector. For instance, in June 2021, AstraZeneca India signed a memorandum of understanding (MoU) with Docon Technologies, a Bengaluru-based health start-up, to digitise 1,000 clinics across India by implementing customised hybrid integration platform with various healthcare applications to offer doctors access to a patient’s complete medical history for efficient treatment applications.
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Hybrid Integration Platform Market Segment Analysis – By Geography
North America is analysed to be the major region with a share of 34% in 2021 for the Hybrid Integration Platform Market owing to the availability of leading market players for the Hybrid Integration Platform Market coupled with increasing investments in the IT infrastructure development in this region. North America has witnessed massive increase in the IT industry requirements and deployment of hybrid integration platforms across various industries. The market in the United States is expected to experience a greater traction as a significant number of organizations are likely to set-up for cloud services to save their upfront cost of building new data centres for business continuity. For instance, according to Cisco, in 2021, 73% of the cloud workloads and compute instances will be in public cloud data centres in United States, up from 58% in 2019. This huge growth in cloud workloads tend to be significant driving factor for the growth of Hybrid Integration Platform Market during the forecast period.
Hybrid Integration Platform Market Drivers
Increasing deployment of cloud-based solutions across various industries is driving the demand of Hybrid Integration Platform
Increasing deployment of cloud-based solutions across various industries to optimize industrial digitalisation is a major driving factor for the growth of Hybrid Integration Platform Market Industrial during the forecast period. Various countries across the globe are investing significantly in the digitalisation to enhance their work efficiency and flexibility. Interoperability across various cloud environments and security of the data remains a concern for many industries. This security necessity tends to drive the demand of hybrid integration platform. Hybrid integration platform not only facilitates the continuous exchange of data for applications hosted in different environments, but it also provides a secure gateway for the transaction of data which caters to the security aspect of the hybrid cloud which is analysed to be a major driving factor for the Hybrid integration platform Market growth.
Deployment of hybrid integration platforms in Healthcare sector across the globe is propelling its market growth
Deployment of hybrid integration platform in the Healthcare sector across the globe is shifting the conventional ecosystem of health infrastructure into smart healthcare ecosystem. Digital transformation can help individual health care organizations by offering wider health ecosystem which provides improved ways of working, expands access to various services and aims to deliver a more effective patient and clinician experience. Healthcare organizations are in transition to health IT systems, powered by cloud and data and analytics tools to enable real-time, smart digital health. For instance, according to data from the US Department of Health and Human Services, around 97% of hospitals and 88% of physician’s clinics in United States of America have adopted cloud-based solutions to improve the quality of care. This tend to bring huge impact in the demand of hybrid integration platforms, further driving its market growth during the forecast period.
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Hybrid Integration Platform Market Challenges
Threat of data breach and high implementation cost is analysed to hamper the Hybrid Integration Platform Market growth
One of the most important factor restraining the market growth of Hybrid Integration Platform Market across the global is threat of data breach. With the increasing cyber threats across various industries, hybrid integration platform is also vulnerable to hacking, which means sensitive organizations data could fall into the wrong hands which may cause severe damages. As the deployment of hybrid integration platform is witnessing considerable growth in BFSI sector, the threat of data breach of customers which may lead to financial losses tend to be a major restraining factor for its adoption in the near future. Moreover, hybrid integration platforms in are more of the recently accepted solutions across the globe, so the cost involved in setting up and switching over to a whole new cloud-based ecosystem comes at competitive prices which tend to hinder its market growth across small and medium enterprises. These factors tend to bring major challenges in the Hybrid Integration Platform Market growth during the forecast period.
Hybrid Integration Platform Industry Outlook
Production Innovation, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Hybrid Integration Platform Market. In 2021, the market of Hybrid Integration Platform industry outlook has been fragmented by several companies. Hybrid Integration Platform top 10 companies include
2. Sopra Steria
3. Dell Boomi
7. Liaison Technologies
10. Software AG
11. TIBCO Software
In December 2021, Sopra Steria, a European leader in consulting, digital services, and software development announced the launch of its new Managed Hybrid Cloud Platform Services, that has successfully achieved the VMware Cloud Verified badge and a Cloud Native VMware Master Services Competency.
In April 2021, Primeur, a smart data integration company launched their new Hybrid Integration Platform named “Primeur DATA ONE”, entirely based on the COA (Contract Oriented Architecture) methodology which is designed to manage, monitors and anticipates the harmonic flow of data among different applications as never before.
In May 2019, Informatica, the enterprise cloud data management leader, announced the industry’s most comprehensive hybrid integration platform (HIP) with its leading enterprise integration platform as a service (iPaaS), Informatica Intelligent Cloud Services (IICS) at Informatica World 2019.
Increasing deployment of cloud-based solutions across various industries for optimizing industrial digitalization is analysed to significantly drive the Hybrid Integration Platform Market during the forecast period 2022-2027.
Application integration are analysed to hold highest share 35.12% in 2021 owing to surge in the demand of cloud-based tools which integrate various applications with the systems of end-use industries.
IT & Telecommunication industry is analysed to hold the highest market share 31.21% during the forecast period owing to the large amount of data generated across this vertical which propels the demand of hybrid integration platform for efficient working across the enterprise.
North America is analysed to hold the highest share in 2021 owing to the increasing IT industry requirements and rising integration of hybrid platform technologies across various industries.
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