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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.
A cloud application programming interface (API) is a software that allows developers to link cloud computing services together. Platform as a service (PaaS), software as a service (SaaS), cross-platform and infrastructure-as-a-Service (IaaS) are some of the types of cloud APIs. They work as a gateway for middleware to provide indirect and direct cloud infrastructure and software services to end-users, such as storage resources, compute infrastructure and monitoring tools. Cloud API aids in enhancing customer experience, increasing productivity, and improving connectivity, collaboration, and cost-effectiveness. As a result, it finds extensive application across manufacturing, healthcare, education, media and entertainment, education, information technology (IT), and banking, financial services and insurance (BFSI) industries.
The increasing adoption of cloud technology across sectors due to its various advantages, such as remote location access, flexibility and cost-effectiveness, is one of the key factors creating a positive outlook for the market. Additionally, the widespread product adoption by small- and medium-sized enterprises (SMEs) as it provides faster communication means and software patched distribution with ease to streamline updates is favoring the market growth. Apart from this, various technological advancements, such as the integration of complex predictive maintenance that provides expected mean time between mechanical failures, are providing an impetus to the market growth. Moreover, the increasing demand for SaaS APIs due to the rise in software-centric approaches, such as mobile applications, and the inflating sales of smartphones are positively impacting the market growth. Other factors, including extensive research and development (R&D) activities, increasing demand for technologically advanced services among migrating industries, rising need for high operational efficiency, and rapid digitization, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global cloud API market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, enterprise size and industry vertical.
Breakup by Type:
Breakup by Enterprise Size:
Breakup by Industry Vertical:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
|Base Year of the Analysis||2022|
|Segment Coverage||Type, Enterprise Size, Industry Vertical, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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