Press release
Global Cloud API Market Expected to Reach Nearly $2.3 Billion by 2029 at 18.8% CAGR
Cloud API Market
Global Cloud API Market size was valued at $701.15 Million in 2022
Market projected to grow to $2341.6 Million by 2029 at a CAGR of 18.8%
Increasing cloud technology adoption and smartphone/cloud platform proliferation driving market growth
Security concerns around cloud APIs may restrain market growth
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Report Scope:
The comprehensive report analyzes the cloud application programming interface (API) market dynamics, structure, competitive landscape, and provides market sizing and forecasts segmented by API type, organization size, industry vertical, and region through 2029.
Research Methodology:
The report utilizes PORTER, SVOR, PESTEL analysis factoring microeconomic impacts to present a holistic view of the cloud API market to industry stakeholders.
Market Drivers:
Surging adoption of cloud technology and cloud platforms across industries like BFSI, IT/telecom, healthcare, etc.
Growing demand for cloud-native APIs enabling digital transformation
Technical advancements improving operational performance
Market Restraints:
Security concerns around integrating cloud APIs with legacy systems
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Regional Insights:
North America dominates the market driven by high digitalization and presence of major cloud companies
Asia-Pacific projected to grow at the fastest CAGR during the forecast period as developing nations shift to open architectures and cloud services
Segmentation:
by APIs Type
Cross-platform APIs
IaaS APIs
PaaS APIs
SaaS APIs
The cloud API industry is divided into four segments based on the kind of APIs: cross-platform, IaaS, PaaS, and SaaS APIs. The majority of the market is accounted for by the SaaS APIs segment. The factors that contribute to the increased development of software applications-web and mobile apps, for example-that are highly sought after by people worldwide, along with the rise in industry migration, particularly in emerging economies, will augment demand for this market segment.
by Organization Size
Large Enterprise
Small & Medium Enterprise
The market is divided into major firms and small and medium-sized enterprises based on the size of the organization. The cloud API market was dominated by big businesses in 2021, and this trend is anticipated to persist throughout the projection period. To fully benefit from cloud computing's capabilities and services, large enterprises are strategically implementing cloud APIs. Furthermore, small and medium-sized enterprises are expected to grow at a moderate CAGR during the forecast period due to an increase in the usage of cloud services to keep ahead of the competition in the worldwide market.
by Industry Vertical
BFSI
IT and Telecommunication
Education
Manufacturing
Healthcare
Media & Entertainment
Others
The market can be divided into BFSI (Banking, Financial Services, and Insurance), IT and telecommunication, education, healthcare, manufacturing, media & entertainment, and other categories based on the industry vertical. The BFSI is anticipated to have the greatest CAGR over the course of the projection period. Cloud APIs are being welcomed by the BFSI sector as a vital element of software development. Applications currently in use in the BFSI industry are being updated to provide new features and functionalities.
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Key Players:
1. Apigee Corporation
2. Citrix Systems, Inc.
3. Products/Brand Offerings
4. Company Highlights
5. Google Inc.
6. Scale AI, Inc.
7. Microsoft Corporation
8. SAP SE
9. CA Technologies, Inc.
10. TIBCO Mashrey
11. International Business Machine Corporation
12. Amazon Web Services, Inc.
13. Axway Software SA
14. Zend Technologies Ltd.
15. Rackspace Inc.
16. VMware, Inc.
17. Other Key Players
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Table of content for the Cloud API Market includes:
Global Cloud API Market: Research Methodology
Global Cloud API Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Cloud API Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
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