New York, NY -- (SBWIRE) -- 12/20/2017 -- The global market of integration and orchestration middleware is to soar high registering a CAGR of 7.6% during the assessment period of 2016 to 2024. North America is forecasted to retain its dominance throughout the forecast period, so far as revenue is concerned. The key market leaders are constantly trying to come up with innovative products in a bid to strengthen their share in the market. These companies are also pitching with their already existing products owing to the increasing demand for the product in North America.
The segment of healthcare is forecasted to be worth around US$ 500 mn by the end of the forecast period i.e. by 2024. Healthcare segment is likely to register quite a high growth with a CAGR of 8.9% during the forecast period.
The global market for integration and orchestration is forecasted to be worth more than US$15 bn by the end of the year of assessment, registering a CAGR of 7.1% during the forecast period from 2016 to 2024. Several key components are attributed with the industry growth rate which is considered quite substantially high, and the answers to the following questions can help determine the future of the integration and orchestration middleware market.
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How Digital Transformation is Going to Affect the Market in North America?
Digital transformation in North America is creating and triggering the demand for integration and orchestration middleware. It calls for connection of various new digital capabilities along with the already existing processes and assets. Coordination in end-to-end applications is provided with this integration process.
Following the process of such a coordination, management of application programme interface (API) calls, and managing, delivering and receiving of data. Integration of middleware in a digital transformation that is based on Internet of Things (IoT), converts the event format that is IT accessible that is further assembled and analyzed. In addition to that, API management acts a link between web services and its authorized consumers. Thus, it can be concluded that demand for integration and orchestration middleware is driven by efficient and effective digital transformation.
Apart from digital transformation, highly efficient network of cloud computing that exists there in North America is also triggering the market growth of integration and orchestration middleware in the region. Middleware tools that are being used today are quite lighter in nature and are used on the cloud to enhance scalability and flexibility in their day to day operations. Enterprise application development is where most of the growth is seen through the utilization of the cost effective and agile nature of cloud technology.
Developers are able to maintain and build application without any infrastructural challenges, through the help of Platform as a Service (PaaS). Furthermore, consumerism is driving the market for end users to automate and integrate application.
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How Effective have been the Market Strategies Adopted by the Companies?
Most of the companies that have been covered in the report hails from North America. International Business Machines or IBM as we it is popularly known as has, acquired StrongLoop in a bid to integrate its offerings with middleware line of WebSphere. It has been focusing on architectural development that is service-oriented and has adopted Internet of Things (IoT), mobile enablement, and cloud computing.
In the February of 2016, IBM has launched an array of connected offerings for IBM cloud, API Connect etc., and IBM WebSphere Connect. OpenText Corporation, based out of Canada, is completely focused on acquisitions so as to develop and expand its product portfolio through analytics and visualization and cloud-based technology.