Cloud API Market Segmented By SaaS, PaaS, IaaS, Cross-platform Cloud APIs Type in Small & Medium, Large Enterprises
Industry: IT and Telecommunication
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP8059
The cloud API market is estimated to value US$ 1,003.9 Mn in 2023, and by the end of 2033, it is expected to have grown to US$ 6,028.8 Mn. The market for cloud API platform is predicted to grow at a CAGR of 19.6% from 2023 to 2033.
A cloud API facilitates the creation of the software, cloud hardware, and platform provisioning applications and services. This platform offers a gateway or interface that enables customers to access both direct and indirect cloud software and infrastructure services. To allot storage, compute, and network resources for the requested cloud applications and services, the cloud API communicates with the cloud infrastructure.
A few of the key factors that are anticipated to drive the market growth of Cloud API include the increasing adoption of cloud computing services across a variety of end-use industries, the rising demand for technologically sophisticated services among migrating industries, the demand for high operational efficiency, and DevOps automation to shorten the time to market for a product launch. Additionally, it is projected that the increasing IT and R&D spending in the area would present lucrative chances for market expansion
There are several limitations and difficulties that will restrict the expansion of the market as a whole. The factors such as a lack of skilled labour and cloud security issues would rise slowly. It can be challenging for a user to identify the most recent version of some cloud APIs because they don't explicitly define the structure and actions. Another significant issue is that server-initiated alerts are not automatically supported by cloud APIs. These can prevent the global market for cloud application programming interfaces from expanding overall.
The market for cloud application programming interfaces has seen increased demand due to the increasing use of smartphones and cloud platforms. The cloud application programming interface (API) industry may see additional prospects due to technical advancements, improvements in operational effectiveness, and DevOps automation.
The market for cloud API platform was valued at US$ 850.8 Mn in 2022. In terms of the regional market landscape, the market in North America held a leading market share of 26.8% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period. Meanwhile, demand for cloud API platform in the Europe region will hold around 20.1% of the market in 2022.
|
Cloud API Market Size (2023) |
US$ 1,003.9 Mn |
|
Projected Market Value (2033) |
US$ 6,028.8 Mn |
|
Global Market Growth Rate (2023-2033) |
19.6% |
|
SaaS Cloud APIs Segment Market Share (2022) |
28.8% |
|
U.S. Market Share (2022) |
17.8% |
|
Cloud APIs for Large Enterprises Segment Market Share (2022) |
60.2% |
“Technological Changes in DevOps Automation”
The cloud API service providers are expected to specially focus on the problems associated with the current cloud API platform process, and this is expected to create lucrative business opportunities for them. Several companies have already emerged as leaders in the cloud API platform market. The improved operational efficiency and the usage of DevOps automation to accelerate processes in the market.
“Growing Adoption of Cloud Technology”
The demand for cloud API in this country is witnessing significant development in the market in technology sector; and the advantages such as flexibility, remote location access, and cost-effectiveness, the market is increasingly embracing cloud technology across industries.
In 2022, the US cloud API market helped the country to account for a dominant share of 26.8% in the global marketplace.
“Increasing adoption of digitalization”
Japan is expected to emerge as a highly lucrative market owing to the next generation in AI, deep learning, and ML. Deep learning, machine learning, big data, and artificial intelligence have made it possible to create a cloud-based system that is dependable and investigate the industry's expansion and threats in greater detail. The most recent cloud computing technology enables us to use the mobile and online banking services.
“Compliance Policies for Cloud API and Enterprise Void Visibility”
The cloud platform stores organizational data in a less secure manner, increases the likelihood of data theft and external breaches. It offers visibility into the security environment of the enterprise. Security concerns are always on the table, even when cloud API design policies are comprehensive. For security teams to quickly identify and address API security risks, businesses are investing more in solutions that provide complete visibility, such as network detection and response.
The cloud API market is estimated to advance at a phenomenal 18.6% CAGR through 2033.
Why SaaS Cloud API’s Show Exponential Growth in Cloud API Platform Market?
Based on type, the market is segmented into the SaaS cloud APIs, IaaS cloud APIs, PaaS cloud APIs, cross platform cloud APIs. In 2022, SaaS cloud APIs accounted for 28.8% of the global market share and are expected to maintain their position over the next ten years. The expansion of SaaS APIs is also being aided by the significant development of software applications like mobile apps which create high demand across the globe.
In Enterprise Size Segment Cloud APIs for Large Enterprise holds the largest market share?
The market is divided into cloud APIs for small & medium enterprises (SMEs) and cloud APIs for large enterprises. The large enterprise accounted for 60.2% of the global market share and is expected to hold that position over the next ten years. The demand for expenses including lower operating costs, enhanced collaboration, increased adaptability, and a shorter time to market.
Businesses can outsource routine tasks to technology that can complete them more quickly thanks to cloud computing. As a consequence of this, it is anticipated that the segment's expansion will be aided by an increase in usage in major organizations in order to streamline operations. Demand for cloud computing services create demand during the projection period as a result of the increasing number of large businesses in developed and developing nations.
Major cloud API platform companies are collaborating and partnering with other organizations to provide more efficient solutions.
Recent developments related to key players providing cloud API platform Market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
|
Attribute |
Details |
|
Forecast Period |
2023-2033 |
|
Historical Data Available for |
2018-2022 |
|
Market Analysis |
US$ Mn for Value |
|
Key Regions Covered |
|
|
Key Countries Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled |
|
|
Pricing |
Available upon Request |
By Type:
By Enterprise Size:
By Industry:
By Region:
To know more about delivery timeline for this report Contact Sales
In 2022, demand for cloud API platform accounts for a valuation of US$ 850.8 Mn.
The global cloud API platform market is estimated to advance at a phenomenal 19.6% CAGR through 2033.
The market for cloud API platform is forecasted to climb to US$ 6,028.8 Mn by 2033 end.
Demand for cloud API platform market in India is projected to rise at an astronomical CAGR of 23.4% over the next ten years.
In 2022, the North America cloud API platform market held a dominant market share of 26.8%.
