The business automation market shows no signs of slowing. Gartner expects the integration / automation market to grow by $ 32 billion by the end of 2025, reaching nearly 50% in just five years.
Last month, Perkuto joined more than 2,000 members worldwide to attend the Workato Partner Launch Event. We learned about Workato’s product roadmap, technical updates and new frameworks, as well as how they will support partner growth. And many of these insights show how critical these tools are becoming for marketers.
According to Vijay Tella, co-founder and CEO, Workato is bringing together the three most dynamic markets: iPaaS, full lifecycle API management, and robotic process automation (RPA) to solve a market with too many specialized tools.
iPaaS is having its moment
Massimo Pezzini, head of research, future of the company in Workato, predicts that organizations will start to slow down investments in B2B gateway software, MFT (managed file transfer) and master data management (bottom right of the graph below) and increase investment in iPaaS, full API lifecycle management and data integration tools (bottom left of graph). iPaaS will lead the way with expected revenue of $ 9 billion by 2025.
So how can we attribute the exponential growth of iPaaS? According to Workato, the two main factors are versatility and ease of use; which makes iPaaS attractive to small and medium-sized organizations with fewer resources.
What does marketing-specific iPaaS adoption look like?
The 2022 Marketo Engage User Study, conducted in collaboration with Adobe, found that only 17.7% of Marketo users are currently integrating iPaaS with their Marketo instance. We expect more adoption in the next year. Of Marketo users who currently integrate iPaaS with Marketo, 44% use Workato.
To drive business automation, marketing operations will need to accelerate adoption.
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Organizations continue to invest in automation
Not only are CIOs integrated with integration technologies, they also see them as critical to achieving their business goals. Gartner revealed that 34% of CIOs in the United States plan to invest more in API integration, API and architecture technologies.
Massimo explored five reasons why automation is essential for business success:
- Reduce costs and increase efficiency by simplifying processes and minimizing manual errors.
- Enhance the customer and employee experience by providing an integrated, consistent, intuitive and conversational user interface.
- Enable business agility and change by incrementally reshaping legacy processes.
- Provide insights and situational awareness by simplifying and minimizing manual errors.
- Building differentiation through innovation by creatively assembling “commodity” systems.
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Build an effective automation strategy
Technology is the last thing you think about when building an automation strategy, yet many organizations get this part wrong. Instead, Massimo suggested starting with defining your goals, requirements, and other functional and non-functional requirements. Workato shared a framework on how organizations should approach their automation strategy.
It will be interesting to see if 2022 is truly a transformative year for iPaaS and the automation market as a whole.
The views expressed in this article are those of the guest author and not necessarily of MarTech. Staff authors are listed here.