Cloud API Market Size Worth USD 1.78 Billion by 2026 | CAGR: 20.3%: AMR
Cloud API Market
cloud APIs are gateways that provide indirect and direct cloud infrastructure and software services, thereby driving their demand.
PORTLAND, PORTLAND, OR, UNITED STATE, October 6, 2022 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "Cloud API Market Size Worth USD 1.78 Billion by 2026 | CAGR: 20.3%: AMR ." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Rise in cloud computing adoption, improved operational efficiency & DevOps automation, and surge in adoption of microservices by organizations drive the growth of the global cloud API market. On the other hand, cloud API security issues hamper the growth to certain extent. However, rise in demand for cloud native API is expected to create lucrative opportunities in the near future.
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Based on enterprise size, the large enterprises segment accounted for more than four-fifths of the global cloud API market revenue in 2018 and is anticipated to rule the roost by 2026. This is due to availability of investments among these organizations. Simultaneously, the small and medium enterprises (SMEs) segment would register the fastest CAGR of 23.7% by 2026.
Based on type, the SaaS APIs segment contributed to more than half of the global cloud API market share in 2018 and is expected to dominate throughout the forecast period. Rise in number of connected devices and smartphones that are driven by software applications across the globe, specifically in the Asia-Pacific region is one of the major reasons driving the growth of SaaS APIs segment in the market. The IaaS APIs segment, on the other hand, is projected to grow at the fastest CAGR of 21.6% during 2019–2026.
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Based on geography, North America held the major share in 2018, generating nearly half of the global cloud API market. This is due to adoption of cloud API at a high rate to bring great improvements in operational efficiency in IT infrastructure. At the same time, the Asia-Pacific region would cite the fastest CAGR of 23.7% till 2026. This is due to strong penetration of software-based services and increase in digitalization in developing economies such as China and India.
Some of the key market players profiled in the report includes, Amazon Web Services Inc. ,CA Inc.,Dell Inc.,Google Inc.,IBM Corporation,Microsoft Corporation,Oracle Corporation,Salesforce.com Inc. ,SAP SE and TIBCO Software Inc.
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Key findings of the study
• By type, the SaaS APIs segment dominated the cloud API market. However, the IaaS APIs segment is expected to exhibit significant growth during the forecast period in the cloud API industry.
• Based on enterprise size, the large enterprise segment accounted for the highest revenue in 2018.
• Depending on industry vertical, the healthcare industry generated the highest revenue in 2018. However, IT and telecommunications sector is expected to witness considerable growth in the near future.
• Region wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the upcoming years.
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