#cloud api market

The increasing adoption of cloud computing services in a variety of end-use industries, rising demand for technologically advanced services among migrating industries, and the need for high operational efficiency and DevOps automation to shorten the time-to-market of a product launch are just a few of the major factors expected to drive Cloud API market growth. The Global Cloud API Market report provides a comprehensive analysis of the market. The report provides a thorough examination of key segments, trends, drivers, restraints, the competitive landscape, and factors that are significant in the market.

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The cloud API is growing at a faster phase owing to the wide adoption of smartphones and cloud applications for back-end services. Cloud API differ as per the service and solution, for instance, three major types of services are Platform as a Service (PaaS), Software as a Service (SaaS), and Infrastructure as a Service (IaaS). Businesses globally are also adopting cloud technology, this is driving the demand for cloud API. Increasing number of connected devices with the emergence of Internet of Things (IoT) is also playing an important role in the growth of cloud API. As faster analysis and monitoring is possible through cloud API, which has become necessary for connected devices.

Various groups are working on developing standards for cloud API, as the goal is to move towards a common cloud API. Cloud APIs are also working on creating interoperability between clouds which will allow users to move data easily and also prevent cloud providers to lock users in their platforms. Increasing customer needs is leading towards the efficient API development program. Companies are developing complex APIs with an aim of providing intelligent real-time experience. The need for cross-platform compatibility is rising. Hence, cross-platform API allows people to access resources, not just from primary cloud provider bust also from other.

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According to the Persistence Market Research (PMR), the global cloud API market is anticipated to witness significant growth throughout the forecast period 2017-2026. By 2026 end, the global market for cloud API is likely to surpass US$ 1,000 Million revenue. Concerns about security, flexibility, efficiency are growing. Hence, companies are focusing on providing Enterprise as a Service and Enterprise as a Platform to address all these issues.

Large Enterprises to Emerge as the Biggest Users of Cloud API

Based on the end users, large enterprises are likely to emerge as the largest users of cloud API as compared to the SMEs. By the end of 2026, large enterprises are estimated to surpass US$ 1,000 Million revenue.

On the basis of vertical, Banking, Financial Services and Insurance (BFSI) is anticipated to emerge as one of the largest sector using cloud API. The BFSI sector is projected to bring in close to US$ 400 Million in terms of revenue by 2026 end.

North America to Lead the Global Market for Cloud API through 2026

Region-wise, North America is expected to emerge as a leading region in the global cloud API market. Towards 2026 end, North America is likely to bring in more than US$ 800 Million revenue. Presence of all the top leading companies operating in the cloud API and increasing adoption of cloud API is driving the growth in the region. Cloud-based business applications such as enterprise resource planning and customer relationship management are also becoming popular in North America. The U.S. and Canada are witnessing the growth in adoption of cloud API.

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Prominent Players in the Global Cloud API Market

Apigee Corporation

Revenue

Products/Brand Offerings

Company Highlights

Google Inc.

scale Inc.

Microsoft Corporation

SAP SE

CA Technologies, Inc.

TIBCO Mashrey

International Business Machine Corporation

Amazon Web Services, Inc.

Axway Software SA

Others

Cloud API market is expected to reach USD 2,148.67 million by 2027 witnessing market growth at a rate of 20.23% in the forecast period of 2020 to 2027. Cloud API is a type of an API which allows the creation of cloud infrastructure, software and platform applications and services. It usually acts as a gateway that provides cloud services to the users. Some of the common types of cloud API are PaaS APIs, SaaS APIs, IaaS APIs and cross-platform APIs.

Major Market Competitors/Players: Global Cloud API market

The major players covered in the cloud API market report are Amazon Web Services, Inc., Broadcom, Dell Inc., Google, IBM Corporation, Oracle, salesforce.com, Inc., TIBCO Software Inc., SAP SE, Axway, Scale AI, Inc., VMware, Inc., Red Hat, Inc., TWILIO INC., UpCloud Ltd, Bandwidth Inc. among other domestic and global players.

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Increasing demand for cloud native API is expected to create new opportunity for the market. Some of the other factors such as rising adoption of cloud computing, increasing demand for micro services by organizations, rising digitalization, technological advancements and improvement in the operational efficiency and DevOps automation is expected to further enhance the cloud API market in the forecast period of 2020 to 2027.

Market Segmentation: Global Cloud API market

·         On the basis of type, the cloud API market is segmented into PaaS APIs, SaaS APIs, IaaS APIs and cross-platform APIs.

·         The enterprise size segment of the cloud API market is divided into large enterprises and small & medium enterprises.

·         Based on industry vertical, the cloud API market is segmented into BFSI, IT and telecommunication, manufacturing, education, healthcare, media & entertainment and others.

Focus of the report

·         CAGR values in the market for the forecast period

·         Key trends in the market place

·         Major players and brands

·         Historical and current market size and projection up to 2026.

·         Detailed overview of parent market

·         Changing market dynamics of the industry

Reasons to Purchase this Report

•                    The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period

•                    Regions/Countries that are expected to witness the fastest growth rates during the forecast period

•                    The latest developments, market shares, and strategies that are employed by the major market players

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Key insights in the report:

•                    Complete and distinct analysis of the market drivers and restraints

•                    Key Market players involved in this industry

•                    Detailed analysis of the Market Segmentation

•                    Competitive analysis of the key players involved

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