As per the new “Cloud API Market” report, published by Market Research Future (MRFR), the global cloud API market is expected to strike a CAGR of 20% and reach a valuation of about USD 763 million by 2022. The global cloud API market is likely to show excellent growth over the forecast period. An increase in the implementation of microservices architectural style to develop a single application and the easy coupling of cloud-based programming interfaces with existing organizations’ existing applications are expected to be major factors that are likely to surge the global cloud API market.
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Market Highlights
Other factors that are expected to boost the expansion of the worldwide market of cloud API are detailed in the report. The widespread use of technologies, such as cognitive computing and speech recognition and which are integral parts of cloud API is another crucial factor that is anticipated to accelerate the cloud API market. MRFR’s study indicates that cloud API is significant to every company that focuses on deploying its services to cloud, as it enables organizations to enhance their deployment processes and better manage the internal infrastructure from business requirements parse. This, in turn, is expected to aids in the propulsion of the worldwide cloud API market growth.
In addition, cloud API provides flexibility, and quick and precise results, in a way that allows users to manage resources as per their needs. It is also identified as a growth-inducing factor for the cloud API market. On the contrary, the improper documentation and maintenance of cloud API services can retard the fast-paced expansion of the market. Alongside, the failure to clearly define cloud API operations can make it difficult for end-users to understand the services availed by the technology, which can also restraint the cloud API market.
Market Segmental Study
The Cloud API Market is studied in segments that are based on end-users and vertical. By end-users, the market is segmented into small and medium enterprises and large enterprises. According to MFRF, the large enterprises segment is expected to contribute majorly to the expansion of the global cloud API market. has a larger share in the cloud API market. By vertical, the market is segmented into BFSI, healthcare, IT & telecommunication, education, manufacturing, media & entertainment, and others. The study reveals that the BFSI segment is likely to hold the largest share of the global cloud API market
Market Key Players
MRFR listed some of the high profiled companies that are functioning in the cloud API market. They are; Google Inc. (U.S.), Amazon Web Services (U.S.), International Business Machines Corporation (U.S.), VMware, Inc. (U.S.), CA Technologies Inc. (U.S.), TIBCO Software Inc. (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Red Hat, Inc. (U.S.), and others.
Detailed Regional Analysis
The worldwide cloud API market appears to be highly competitive due to the growing demand for technology. As per MRFR’s regional study, the API cloud market in North America is projected to generate maximum revenue across the review period. The different geographic regions where the cloud API market is studied are Americas, Europe, Asia Pacific and the Rest of World (RoW). After North America, Europe is estimated to witness the high growth pace of the market. It is noted that due to the quick adoption of cloud API across numerous verticals in the US, the market in North America is expected to gain a high traction across the years of assessment. In addition, as organizations incline towards microservices-based business models the regional market is likely to make high gain. The cloud API market in the Asia Pacific region is expected to show significant growth.
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