Boomi, a Dell Technologies business, announced today that Ovum, a global IT research and consulting firm, has named the company a "market leader," in an in-depth analysis of the fast-growing market for cloud-based hybrid integration platforms.

Boomi scored the highest marks out of all evaluated vendors, in categories of 1) cloud integration/iPaaS (integration platform as a service) and 2) scalability and enterprise fit, and ranked highly in other categories, in Ovum's evaluation of 11 hybrid integration vendors. The full study, "Ovum Decision Matrix: Selecting a Cloud Platform for a Hybrid Integration Vendor, 2019-20," is available for download here.

Ovum analysts noted that digital business is driving a proliferation of applications, services, data stores, and APIs that need to be connected to deliver critical business processes. That's fueling demand for a cloud-based hybrid platform with capabilities that include data and application integration, API management, and electronic data interchange (EDI) for business-to-business (B2B) trading partner transactions.

"Boomi has expanded the capabilities of its iPaaS to support a range of hybrid integration requirements beyond on-premise and SaaS application and data integration," Ovum said in its report. "It is impressive to see how Boomi's integration platform has expanded from iPaaS and API-led integration to cover B2B/EDI integration and simple file transfer use cases."

Ovum said that Boomi "offers a good feature-price value for enterprises of all sizes" and that:

• Boomi has well-established credentials in the global iPaaS market, with thousands of large and medium-size enterprise customers
• Boomi's recently introduced API gateway and developer portal support secure and scalable interactions with external parties, enhance API discoverability, and drive engagement across a broader API consumer base
• Boomi B2B/EDI Management lets users build, deploy and manage both traditional EDI and newer web services in the cloud
  

"We're extremely gratified to be named a market leader in Ovum's insightful study," said Chris McNabb, CEO of Boomi. "We've invested in creating an intelligent, flexible and scalable platform that meets the diverse data management needs of today's digital economy. Ovum's recognition validates our strategic focus of delivering broad capabilities in a unified platform that equip organizations to accelerate business outcomes through modernization, transformation, and innovation."

Ovum's study also forecasts rapid growth in iPaaS and API platform markets as "IT continues to struggle to meet new application and data integration requirements driven by digitalization and changing customer expectations":

• The global iPaaS market will grow at a 59.7 percent compound annual growth rate (CAGR) between 2018 and 2023, to $10.2 billion
• The API platform market will grow at a 61.7 percent CAGR over the same timeframe, to $13.7 billion
• Cloud-based hybrid integration will account for at least 50 percent of new spend on middleware by the end of 2019 (not counting upgrades or license renewals on existing on-premise middleware)