The enterprise application integration market is expected to register a CAGR of 15.65% during the forecast period. Enterprise Application Integration (EAI) allows applications to share data wherever they are.
New York, Jan. 19, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Enterprise Application Integration Market – Growth, Trends, COVID-19 Impacts, and Forecasts (2023-2028)” report — https://www. reportlinker.com/p06382166/?utm_source=GNW
EAI integrates the databases and workflows associated with business applications to provide a consistent view and use of information. By integrating enterprise applications, changes to core business data in one application are correctly reflected in other applications.
Companies have come to understand that the most important data now comes from all the complex applications used in the company. Therefore, enterprises are focusing more on PaaS than on traditional iPaaS solutions that use the point-to-point integration method. By removing data from the constraints of all relevant applications, PaaS solutions help with data management and integration. EAI will continue to include data integration leading to a more practical centralized platform.
In addition, businesses often use different software running in different, incompatible environments. Software, including ERP systems, CRM applications, supply chain management applications, BI applications, and payroll and human resources systems, due to disparate structures, cannot exchange data. As a result, automating simple routine operations becomes a complex task. A middleware framework that enables open and secure communication between these disparate applications and legacy devices is being introduced as part of the emerging Application Integration (EAI) trends.
Businesses are steadily moving forward with modern technology. Technologies such as cloud computing, big data, the Internet of Things and others make it easier to share information and make it easier to manage data. Business organizations are rapidly adopting EAI to help unify databases and workflows. Trends such as diversified workflow solutions, BYOD, cloud adoption, and real-time application integration are positively impacting the growth of the market.
Open-source software and proprietary software are one of the essential alternatives for integrating enterprise applications. Installing Enterprise Application Integration (EAI) can be a costly undertaking and a long-term strategic move. Companies may need to purchase multiple integration platform stacks solutions such as API Manager, Enterprise Service Bus (ESB), Portal, and Data Services Platform. The emergence of open-source communities and methodologies for creating new technologies has coincided with the recent rise of cloud computing. Open source communities have sprung up over the past few decades, in which developers collaborate on projects by openly publishing, copying, and modifying source code. Technological advances are made faster and easier when the developer community uses and modifies specific projects. Such open-source software developments are expected to hinder the growth of the enterprise application integration market.
The COVID-19 outbreak has shed light on the businesses and technologies that have survived and advanced in the post-COVID-19 era. Cloud computing, social and collaboration tools, mobile computing, analytics, and business intelligence are among the technology-enabled enterprise applications that help businesses thrive (BI). Business software, much larger packages such as enterprise resource planning (ERP), and a few others need to be developed more than ever to take advantage of all these technologies.
Key Market Trends
Strengthening digital transformation in industries to develop the market
Digital transformation is a non-linear process that moves from rapid and rapid change to more sustainable stages of consolidation based on internal and external needs. However, the flexibility of digital processes is critical to keeping the pace of this transition. Most businesses have directly or indirectly invested in electronic data interchange (EDI)-based B2B connectivity. Similarly, many people have invested resources in enterprise application integration (EAI).
As more companies rely on digital transformation, companies are expected to constantly change their approaches to improve efficiency, quality, and customer experience. Deploying the right approach to an application, whether moving, changing, or developing, is expected to be efficient.
The COVID-19 outbreak has exposed problems in business models across industries. However, it has provided various opportunities for digitization and business development in the regions through the use of technologies such as artificial intelligence, the cloud, and the Internet of things. According to Spiceworks and SWZD, this year the popular IT trend implemented or planned to be implemented in organizations in North America and Europe was 65% IT automation technologies, 57% IoT and 43% AI.
With the pandemic under control, many industries, including manufacturing, retail and automotive, are predicted to increase investment as system integration solutions become increasingly important to multiple business processes.
Most firms in the twenty-first century believe that enterprise application integration (EAI) and digitalization are inextricably linked. Indeed, the use of enterprise integration platforms eliminates numerous complexities at many levels. It brings together applications, data, and various business systems hosted on-premises or in the cloud with a scalable cloud-based integrated platform that supports a variety of integration patterns.
In March 2022, Krish Compusoft Services Inc. and Biarca Inc. announced the completion of the purchase of KCS by Barca. With Security as a Service, DevSecOps and Continuous Compliance, this acquisition greatly expands KCS’ digital transformation offering.
North America will have a significant market share
North America is the largest region for enterprise applications on the market. Due to the emphasis placed on the consumer by businesses, the use of EA has increased. Market development in North America is primarily fueled by the region’s technologically advanced infrastructure and the presence of major industry players such as Oracle, International Business Machines (IBM) Corporation, Microsoft, Hewlett Packard (HP) and QAD Inc. All these enterprises are actively involved in the continuous development of new technologies, which contributes to the expansion of the market in North America.
Highly-priced applications are available from software giants such as Oracle, Microsoft, SAP, etc. Since open-source software is affordable, companies in North America are choosing it. These open-source applications are as functional and efficient as those licensed companies that offer enterprise software. These open-source alternatives have gained popularity among many small and medium enterprises due to their many advantages in the market.
Due to several variables, including the presence of numerous enterprises with complex IT infrastructure and the availability of technical specialists, the United States is the most developed market in terms of accepting IT service offerings. Many firms are having to adapt to a wide range of IT service options due to rapid advances in new technologies, IT infrastructure services and the Internet of Things (IoT).
In North America, the IT industry has already adopted hybrid cloud enterprise technologies. In healthcare, cloud computing services are showing the most growth in North America. The focus is on how technology is used to improve and personalize patient care while reducing costs. Technology has moved beyond data storage and services.
Enterprises’ preference for SaaS-based products and the implementation of digital business strategies are major drivers of widespread adoption. In addition, the demand for cloud services based on data integrity and privacy is expected to continue to grow, giving leading providers more opportunities to increase their market share during the forecast period.
In December 2022, the acquisition of Livejourney by QAD Inc., a manufacturing and supply chain cloud solutions provider headquartered in North America, was completed.
The life journey is a leading provider of real-time and predictive flow solutions (process analysis and process monitoring) to discover, monitor and improve business processes. With the addition of Live journey for process analysis, QAD Adaptive Applications has been enhanced with an exciting new component that will enable QAD customers to gain critical insights into how their manufacturing, supply chain and overall enterprise operations are running and operating.
The enterprise application integration market is moderately fragmented, with major players such as IBM Corporation, Fujitsu Ltd., Microsoft Corporation, Mulesoft LLC (salesforce.com Inc), and Oracle Corporation, among others. Market players use strategies such as partnerships and acquisitions to improve their product offerings and gain sustainable competitive advantage.
November 2022 – Turvo, a global supply chain collaboration tool provider, announced its participation in the MuleSoft Technology Partner Program and its contribution to identifying a certified MuleSoft API for the partner community. As Turvo’s unique certified MuleSoft connector, this partnership will benefit the partner ecosystem. By using the Turvo Connector, which will be offered on MuleSoft’s Anypoint Exchange, enterprises can easily integrate with Turvo Collaboration Cloud and gain effective insight into the supply chain. Through this collaboration, customers will have a seamless experience across platforms and services.
May 2022 – Accenture and SAP launched a joint offering to help large enterprises gain new value from innovative cloud services and business modernization. The newfangled joint offering combined RISE with SAP and SOAR with Accenture services. This offering has been complemented by new structures that include Accenture’s end-to-end set of transformation services, such as custom cloud services and proprietary intelligence, delivered through a unified “as a service” model. Accenture is one of SAP’s important partners, offering services entirely designed to help large enterprises across industries efficiently plan, implement, and manage their RISE deployment with SAP in the cloud.