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Enterprise Application Integration Market Trends

  • Report ID: GMI7283
  • Published Date: Nov 2023
  • Report Format: PDF

Enterprise Application Integration Market Trends

Efficient integration across diverse banking systems is a major factor driving the enterprise application integration industry growth. Banks increasingly rely on integrated solutions to streamline operations, enhance customer experiences, and meet evolving regulatory requirements. For instance, in October 2023, Backbase introduced Grand Central, an Integration Platform-as-a-Service (iPaaS) designed to assist banks in accelerating their modernization and digital transformation initiatives. Grand Central facilitates the seamless connection of channel applications to a range of downstream systems, which include core banking platforms, payment solutions, customer relationship management systems, and fintech systems. This integration boosts operational efficiency, enables real-time data sharing, and enhances overall productivity, thereby fueling the demand for advanced integration solutions in the banking sector.

The rising complexity of IT environments, marked by diverse applications, platforms & technologies, is a major driver propelling the enterprise application integration market. Businesses navigate intricate IT landscapes, requiring seamless communication between varied systems. Enterprise application integration solutions bridge these gaps, ensuring interoperability and data flow. As organizations seek unified operations and data consistency, the demand for robust integration solutions grows. Integration simplifies IT complexity, making it essential for modern enterprises and fueling market expansion.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of enterprise application integration reached USD 12.3 billion in 2022 and is set to grow at 12% CAGR between 2023 and 2032.

The large enterprises segment held around 65% market share in 2022, as these organizations favor enterprise application integration for streamlines workflows due to their intricate IT setups.

North America market with a major share of over 30% in 2022, backed by the widespread adoption of cloud computing that offers flexibility, scalability, and accessibility.

Fujitsu, IBM Corporation, Microsoft Corporation, MuleSoft (Salesforce), Oracle Corporation, SAP SE, and Software AG.

Enterprise Application Integration Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 334
  • Countries covered: 16
  • Pages: 200
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