IMARC Group’s report titled “Cloud API Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The global cloud API market forecast, size, share, trends, growth, analysis and report. The global cloud API market size reached US$ 1,148.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 4,195.3 Million by 2032, exhibiting a growth rate (CAGR) of 15.2% during 2024-2032.
A cloud application programming interface (API) is a set of rules and protocols that allows different software applications to communicate and interact with cloud computing services and resources. It allows companies to leverage scalable infrastructure, data storage, and computing capabilities offered by cloud service providers. It enables applications to store, retrieve, and process data stored in cloud databases or storage services. It allows organizations to develop, deploy, and manage applications with increased efficiency and agility. It also facilitates companies to reach a wider audience without the need for complex infrastructure setups. It ensures that only authorized users and applications can access sensitive data and services in the cloud. It assists in streamlining operations, encouraging innovation, and enhancing the experiences of users. Besides this, it aids in handling increased loads during peak times without performance degradation. As a result, cloud API is widely employed in the healthcare, finance, logistics, manufacturing, education, agriculture, and energy and utilities sectors across the globe.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/cloud-api-market/requestsample
Cloud API Market Trends and Drivers:
At present, the increasing demand for cloud APIs to connect and manage various Internet of Things (IoT) devices and data represents one of the key factors impelling the growth of the market. In line with this, the rising adoption of cloud APIs among microservices architecture to enable communication between microservices is strengthening the market growth. Moreover, the escalating demand for cloud APIs due to the increasing remote work settings worldwide is offering a favorable market outlook. In addition, the rising utilization of cloud APIs in the healthcare sector for sharing patient data securely, supporting telemedicine, and enabling health monitoring devices is bolstering the market growth. Besides this, the increasing adoption of cloud APIs in financial institutions for real-time transaction processing, risk assessment, and fraud detection is supporting the market growth. Furthermore, the integration of artificial intelligence (AI) and machine learning (ML) into applications requires cloud APIs to access and leverage cloud-based AI services, which is contributing to the growth of the market.
Competitive Landscape with Key Player:
- 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
- Tibco Software Inc.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- SaaS APIs
- PaaS APIs
- IaaS APIs
- Cross-platform APIs
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium Enterprises (SMEs)
Breakup by Industry Vertical:
- Healthcare
- BFSI
- IT and Telecommunication
- Manufacturing
- Education
- Media and Entertainment
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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