Cloud API Market Worth US$ 2,621.8 Million by 2028 at 17.6% CAGR - Report by IMARC Group

the global cloud API market size reached US$ 976.2 Million in 2022. looking forward, imarc group expects the market to reach a value US$ 2,621.8 Million by 2028, exhibiting a growth rate (cagr) of 17.6% during 2023-2028.

A cloud application programming interface or cloud API refers to software solutions that allow developers to link cloud computing services together. They are of several types, such as software as a service (SaaS), platform as a service (PaaS), cross-platform, and infrastructure-as-a-Service (IaaS). These cloud API systems work as a gateway for middleware to offer indirect and direct cloud infrastructure and software services to end-users, including storage resources, monitoring tools, and computing infrastructure. They help to enhance customer experience, productivity, connectivity, and collaboration. Consequently, cloud API technologies find widespread utilization across numerous sectors, such as healthcare, manufacturing, education, media and entertainment, information technology (IT), banking, etc.

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Cloud API market trends:

The growing adoption of cloud technology across various industries, owing to its advantageous features, which include remote location access, flexibility, and cost-effectiveness, is among the key factors driving the cloud API market. Additionally, the expanding usage of the software by small- and medium-sized enterprises or SMEs as it ensures faster communication means and software patched distribution with convenience to streamline updates is acting as another significant growth-inducing factor.

Besides this, the increasing integration of complex predictive maintenance that offers expected mean time between mechanical failures and the inflating demand for SaaS APIs, on account of the elevating software-centric approaches, including smartphone applications, are further catalyzing the global market. Moreover, the shifting preferences toward technologically advanced services among migrating industries, the escalating need for high operational efficiency, and the rising digitization across the globe are anticipated to fuel the cloud API market in the coming years.

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Cloud API market 2023-2028 competitive analysis and segmentation:

competitive landscape with key players:

the competitive landscape of the cloud API market has been studied in the report with the detailed profiles of the key players operating in the market.

some of these key players include:

• 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.

key market segmentation:

the report has segmented the cloud API market on the basis of type, enterprise size and industry vertical.

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

breakup by region:

• north america (united states, canada)
• europe (germany, france, united kingdom, italy, spain, russia, others)
• asia pacific (china, japan, india, south korea, australia, indonesia, others)
• latin america (brazil, mexico, others)
• middle east and africa (united arab emirates, saudi arabia, turkey, south africa, others)

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 this report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

key highlights of the report:

• market performance (2017-2022)
• market outlook (2023-2028)
• market trends
• market drivers and success factors
• impact of covid-19
• value chain analysis
• comprehensive mapping of the competitive landscape

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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