Market Trends of Enterprise Service Bus Software Industry
Rising Development of IoT Projects Boosting the Market Growth
The number of IoT-connected devices is expected to increase from 8.6 billion in 2019 to 29.4 billion in 2030. The growth of connected devices is driven by new applications and business models, and it is helped by the fact that devices are becoming more standard and their prices are going down.
As the number of IoT-connected devices increases, the integration of devices and data becomes more complex. These connected devices may present numerous integration and messaging challenges. Organizations, thus, may have to invest in efficient application integration solutions that can be tackled with ESBs.
Also, as there are more and more devices that connect to each other, it is becoming more and more important to manage multiple networks and systems at the same time.The easiest way to deal with this problem is to concentrate on a strategy that involves synchronizing various devices (each with a distinct protocol) on a single application platform.
Over the next few years, demand for ESB software is likely to be driven by the need to handle communication between different devices in a more effective and flexible way as business environments change.
Asia-Pacific to Register a Significant Growth Over the Forecast Period
Asia-Pacific is predicted to have the quickest growth rate for the Enterprise Service Bus Software Market due to the region's expanding emphasis on the IoT platform in nations like China, India, and South Korea.
The rising demand for managed cloud-based solutions has also increased in this region due to complex big data and workloads, such as enterprise resource planning (ERP), being increasingly migrated to cloud platforms. According to a report published by the Asia Cloud Computing Association (ACCA), Singapore is the number one cloud-ready Asia-Pacific country, owing to better broadband quality, cybersecurity, regulation, and business sophistication.
As most businesses in Asia-Pacific move their operations to the cloud, companies like Alibaba and Tencent are likely to use ESBs to make their organizations more flexible by reducing the time it takes for new projects to reach the market.
It also builds and designs applications that are more flexible, which lets companies respond quickly to changes in the market. The ESB software market in the region is also likely to grow because of these factors.
