Cloud API Market to Surpass USD 700 Million at a 22% CAGR by 2027 | Top Key Players are Amazon, Google, International Business Machines Corporation, etc.

Market Highlights

Market Research Future (MRFR) expects the global cloud API market to exceed USD 700 million at a CAGR of more than 22% from 2020 to 2027 (forecast period).

Cloud Application Programming Interface (API) is based on the most recent cloud technologies and assists companies in developing interactive applications and expanding their services. These services are provisioned and deployed using cloud platforms, hardware, and software. The majority of cloud-based APIs are developed in languages such as Python, Elixir, JavaScript, Ruby, PHP, Objective-C, C#, and GO. Cloud technology is a major driver of the growing cloud API market because developer tools are tightly integrated with the cloud platform.

Because of benefits such as cost-effectiveness, easy access to remote locations, flexibility, interactive interface, easy deployment, and so on, 92% of market workload has moved to cloud technology, giving the market to cloud application programming. AWS, Oracle Cloud, Amazon Cloud, and Google Cloud Network are only a few of the platforms that have emerged as industry leaders in the rapidly rising cloud application programming interface market.

COVID-19 Impact on the Global Cloud API Market

COVID-19 virus arrived and never left cities all over the world, infecting people and causing mass deaths. No one, including government leaders and the wider community, was prepared for the impending pandemic. The virus, which was generated in a flea market in Wuhan, China, spread throughout the world, impeding countries' social, economic, and physical development. With countries undergoing global and local lockdowns, the world experienced a slowing in the rate of everyday life. People and businesses learned to survive on the fundamentals. However, due to the constant availability of online data, the cloud API market has thrived even in these difficult times. As more of the companies adopted the cloud approach, security breach and data loss were an increasing threat during COVID-19 times due to unprotected network usage for communication.

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Segmentation:

The global cloud API market has been segmented into service, vertical, end-users.

By service, the global cloud API market has been segmented into Platform-as-a-Service (PaaS) API, Software-as-a-Service (SaaS) API, and Infrastructure-as-a-Service (IaaS) API.

By vertical, the global cloud API market has been segmented into BFSI, IT and Telecommunication, Manufacturing, Education, Healthcare, Media & Entertainment and Others.

By end-users, the global cloud API market has been segmented into large enterprises and small & medium enterprises.

Regional Analysis

The Cloud API Industry has been segmented and studied, majoring in 4 regions, i.e., North America, Europe, Asia Pacific, and the rest of the world (ROW).

North America has the world's leading position in cloud API research and development. Approximately 80% of industries in the US area have implemented new Cloud Application Programming Interface (API) microservices in the form of PaaS, SaaS, and IaaS. European countries like Germany, France, Italy, and others are the second-largest market holders in the EMEA region, accounting for increased sales in the coming years. The most appealing aspect of the cloud API market in the European region is the hybrid platform accumulation of integrating existing technology into the cloud. Small and large-scale companies in Asia Pacific countries such as China, Japan, Australia, India, and others have embraced the cloud API, opening the market to cloud technology. The industry's boom, driven by low investment and high profit, has drawn people from all over the world to cloud API and cloud computing.

Key Players

The key and prominent market players in the cloud API industry are Amazon, Google, International Business Machines Corporation, Oracle, RedHat, SAP-HANA, CA Technologies Inc., Microsoft Corporation, TIBCO Software Inc., Citrix Systems, Rackspace Inc., Zend Technologies Ltd., Inc., VMWare, Dell, CA, IBM Corporations, Salesforce, SAP SE, and others as service provides.

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Cloud API Market by End-Users (Large Enterprises and Small & Medium Enterprises) and Vertical (BFSI, IT and Telecommunication, Manufacturing, Education, Healthcare, Media & Entertainment and Others) - Forecast to 2027

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