Hybrid integration platform market is estimated to exhibit high growth potential during the forecast period owing to rapid adoption of cloud based systems and services. Major driving factor in the growth of hybrid integration platform market is the increasing need for integration of on premise and cloud based systems and growing popularity of cloud based applications. Increasing advancements in technology is another major factor responsible for the growth of hybrid integration platform market. Increasing need for interconnecting internet of things devices is another major factor driving the growth of hybrid integration platform market.
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Giants like Software AG, Informatica, Dell Boomi, MuleSoft, International Business Machines Corporation and Oracle Corporation are among the major players in the hybrid integration platform market. MuleSoft has come up with an Anypoint platform, a hybrid integration platform, which helps in solving challenging connectivity problems. The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements. Hybrid integration platform technology is expected to witness significant growth with the growing popularity of internet of things devices and increasing demand for integrating both cloud based and on premise systems.
According to Market Research Future Analysis, hybrid integration platform market has been valued at approx. USD 40 Billion by the end of forecast period with 14% of CAGR during forecast period 2018 to 2023.
Market Research Future (MRFR) recognizes the following companies as the key players in the hybrid integration platform market – 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.
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Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
Hybrid integration platform market can be segmented on the basis of integration type, service type, organization size and vertical. The vertical segment is further bifurcated into BFSI, manufacturing, IT & telecommunication, retail, education, government and public sector and others. Out of which, the BFSI segment is expected to hold the largest market share of hybrid integration platform market during the forecast period. This is owing to a gradual shift of financial transactions from paper work to digital transactions. This shift was made easier by hybrid integration platform by seamlessly integrating the on premise data with the cloud based systems. It also helps in integrating workflows and enhancing the quality of data and security too.