ID: MRFR/ICT/1932-HCR | February 2021 | Region: Global | 100 pages
Cloud Application Programming Interface (API) is a type of API that enables the development of applications and services used for provisioning of cloud hardware, software and platforms. Cloud API services act as a gateway or interface that provides direct and indirect cloud infrastructure and software services to users. A cloud API is a significant component of any public cloud solution.
Cloud APIs vary according to the provided service or solution which are: infrastructure as a service (IaaS), software as a service (SaaS) and platform as a service (PaaS). IaaS APIs provide raw computing and storage, SaaS APIs provision connectivity and interaction with a software suite and PaaS APIs provide backend architecture for building intensive and feature-rich applications.
The study indicates that the major driving factor for the cloud API market is the increasing number of applications that are built using microservices architectural design. It has been observed that over the recent past several easy to use developer tools have been launched by cloud API providers. Moreover, large cloud API providers are acquiring niche cloud API platform providers in an attempt to increase their total market share.
global cloud API market is expected to grow at USD 763 Million by 2026, at 22% of CAGR between 2020 and 2026.
Cloud API global market is segmented on the basis of end-users and vertical.
Cloud API Global Market Regional Analysis
The regional analysis of cloud API market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America would dominate the global market of cloud API owing to factors such as wide adoption of microservices by organizations. The study indicates that Europe has the second biggest market share in the cloud API market.
Asia Pacific cloud API market is expected to show a positive growth over the forecast period owing to factors such as wide adoption of cloud API by small and medium enterprises. In Asia-Pacific countries like China, Japan and others are implementing easy to use developer tool to access cloud API due to which the study reveals that these countries would show a sudden hike in cloud API market by the forecast period.
Frequently Asked Questions (FAQ) :
Cloud API market is expected to grow at USD 763 million by 2022, at 20% of CAGR during 2016 to 2022.
North America, Europe, Asia, and the Rest of the World (ROW) are the key regions booming with a maximum market share of the cloud API market.
Joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments are the key trends implemented in the cloud API market.
Amazon Web Services (U.S.), Google Inc. (U.S.), CA Technologies Inc. (U.S.), International Business Machines Corporation (U.S.) are the key players influencing the market’s share of cloud API market.
It is the Asia Pacific region which is going to show positive growth for the cloud API market in the future.