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
