Global Enterprise Application Integration Market - Segmented by Deployment Type (On-premise, On-demand, Hybrid), Company Size (Large Enterprises, Small and Medium sized Enterprises), End-User Industry (BFSI, Business Services, IT and Telecom, Manufacturing, Healthcare, Retail and Wholesale, Government), and Region - Growth, Trends, and Forecast (2018 - 2023)
The global enterprise application integration market was valued at USD 10.32 billion in 2017, and is expected to reach a value of USD 17.37 billion by 2023 at a CAGR of 9.07%, during the forecast period (2018 - 2023). Enterprise Application Integration (EAI) is emerging as mission critical solution that involves the use of tools and methods aimed at optimization and modernization of computer applications in an organization. A recent study estimated that EAI accounts for around 35% of the total cost of application design, development and maintenance in a typical enterprise - large, medium or small. Traditional hub and spoke broker-based EAI systems are now being replaced by agile, distributed, standards-based Enterprise Service Bus architectures and an increase is expected in applications composed from Service Components formingbasis for both SOA (Service Oriented Architecture) and EDA (Event Driven Architecture).
The major factors significantly impacting the market include growth in cloud ERP implementation, surge in E-Businesses, increase in M&A activity requiring integration of dissimilar business processes, increase in business process automation solutions, Surge in demand for new human applications integration with legacy back end systems, and increase in virtual enterprise linking applications in SCM and CRM
Both cloud and hybrid based integrations are significantly changing the dynamics and are challenging the status quo of the market, which was previously dominated by the traditional integration solutions.
Increase in Business Process Automation solutions is Driving Market Growth
Many organizations are moving towards cloud based enterprise resource planning integration solutions to reduce the costs incurred. Business process automation allows organizations to achieve digital transformation and increase service quality. This enables streamline communication, enforces accountability, minimizes costs, reduces manual errors, and establishes a clear approval hierarchy. Hence, the rising usage of business automation owing to its benefits is driving the market for Enterprise application integration market.
Retail and Wholesale are Expected Grow Exponentially
The global retail and wholesale market is one of the rapidly growing sectors in the world. The trajectory of retail is growing at an explosive rate, supported by the rise of the middle class segment. Internet penetration and expanding mobile users are the key drivers of this market. Enterprise application integration can be add-ons to the retail market where they can manage the resources by planning the workflows and schedules. The growth of the retail market is globalized; this is largely fueled by technological advancements in the field of ICT and increased market penetration of broadband and mobile devices.
North America is the Major Contributor for the Market
North America held the highest share of the enterprise application integration market in 2017. Housing many market giants in various industrial verticals, North America has been dominating the market and is expected to continue its domination throughout the forecast period. North America is experiencing a once-in-a-decade shift on the technological front. As hybrid IT has been evolving, most organizations are migrating their infrastructure to the cloud and some continue to maintain critical services onsite. Over the past few years, the number of business-critical applications has increased significantly. This has translated into more demand for high performing solutions as end-users expect seamless experience. The Asia-Pacific region is expected to register highest growth rate during the forecast period.
Key Developments in the Market
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