February 26, 2024
The global cloud API market size reached US$ 976.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,621.8 Million by 2028, exhibiting a growth rate (CAGR) of 17.6% during 2023-2028.

IMARC Group, a leading market research company, has recently releases report titled “Cloud API Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023–2028.” The study provides a detailed analysis of the industry, including the global cloud API market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What is Cloud API Market

A cloud application programming interface (API) is a set of rules and protocols that allow software applications to communicate and interact with cloud-based services. It acts as an intermediary, which enables different software components or systems to exchange data and perform specific functions. It provides developers with a standardized method to access and utilize various cloud services, infrastructure, platforms, or applications offered by cloud service providers (CSPs). It enables developers to create, configure, and manage virtual machines, storage, networking, databases, and other resources in the cloud.

How Big Is the Cloud API Market?

The global cloud API market size reached US$ 976.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,621.8 Million by 2028, exhibiting a growth rate (CAGR) of 17.6% during 2023-2028. 

Global Industry Trends and Drivers:

Presently, the increasing adoption of cloud API in small- and medium-sized enterprises (SMEs) to streamline business operations represents one of the primary factors bolstering the market growth around the world. Moreover, the rising usage of cloud API in the healthcare industry to enable the secure sharing of patient data, integration with electronic health record (EHR) systems, and access to medical research databases is propelling the growth of the market. In addition, the growing adoption of cloud API in the transportation and logistics industry for route planning, tracking shipments, and fleet management is influencing the market positively. Apart from this, the increasing utilization of cloud API in various industry verticals due to its numerous advantages, such as remote location access, flexibility, and cost-effectiveness, is strengthening the market growth.

Uses of Cloud API

Cloud APIs (Application Programming Interfaces) have numerous applications and play a crucial role in enabling seamless integration, communication, and access to cloud-based resources and services. Here are some key uses of Cloud APIs:

Application Development and Deployment: Cloud APIs are extensively used by developers to build, deploy, and manage applications on cloud platforms. They provide access to various cloud services, such as computing resources, storage, databases, and networking, allowing developers to focus on application logic rather than managing underlying infrastructure.

Cloud Service Integration: Cloud APIs enable the integration of different cloud services and platforms, allowing applications to communicate and share data across various cloud environments. This integration enhances the functionality and capabilities of applications by leveraging a wide range of cloud services.

Data Storage and Retrieval: Cloud APIs facilitate data storage and retrieval in the cloud. Developers can use these APIs to store and access data in cloud-based databases, object storage systems, and data warehouses, enabling scalable and reliable data management.

Content Delivery and Media Processing: Cloud APIs are used for content delivery, allowing applications to efficiently distribute multimedia content like videos, images, and files to users across the globe. They also provide media processing capabilities, enabling transcoding, image manipulation, and video streaming.

Internet of Things (IoT) Integration: Cloud APIs play a vital role in connecting and managing IoT devices and sensors in the cloud. They enable data ingestion, processing, and analysis from IoT devices, facilitating real-time monitoring and control of connected devices.

What Is Included In Market Segmentation?

The report has been segmented the market into following categories:

Breakup by Type:

SaaS APIs

PaaS APIs

IaaS APIs

Cross-platform APIs

Breakup by Enterprise Size:

Large Enterprises

Small and Medium Enterprises (SMEs)

Breakup by Industry Vertical:

Healthcare

BFSI

IT and Telecommunication

Manufacturing

Education

Media and Entertainment

Others

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

Amazon Web Services Inc. (Amazon.com Inc.), Broadcom Inc., Citrix Systems Inc., Dell Technologies Inc., Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Technology Inc., Salesforce Inc., SAP SE and Tibco Software Inc.

Key highlights of the Report:

Market Performance (2018–2023)

Market Outlook (2023–2028)

COVID-19 Impact on the Market

Porter’s Five Forces Analysis

Historical, Current and Future Market Trends

Market Drivers and Success Factors

SWOT Analysis

Structure of the Market

Value Chain Analysis

Comprehensive Mapping of the Competitive Landscape

TOC for the Report:

Preface

Scope and Methodology

Executive Summary

Introduction

SWOT Analysis

Value Chain Analysis

Price Analysis

Competitive Landscape