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March 30, 2020, 6:24 a.m. EDT

Cloud API Market: Global Size 2020, Latest Technological Trends, Trending Opportunities, Size, Share, Demand, Growth, Industry Analysis and Regional Forecast till 2022

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Mar 30, 2020 (Heraldkeepers) -- Cloud APIs are available according to service or solution and include infrastructure as a service, software as a service, and platform as a service. Each performs vital functions in an enterprise and overall have been witnessing high adoption rates across the globe.

MRFR Listed Some of High Profiled Companies that Functioning in Global Cloud API Market and they are:

Google Inc. (U.S.), Amazon Web Services (U.S.), International Business Machines Corporation (U.S.), VMware, Inc. (U.S.), CA Technologies Inc. (U.S.), TIBCO Software Inc. (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Red Hat, Inc. (U.S.), and others.

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As per the new "Cloud API Market" report, published by Market Research Future (MRFR), the global cloud API market is expected to strike a CAGR of 20% and reach a valuation of about USD 763 million by 2022. The global cloud API market is likely to show excellent growth over the forecast period. An increase in the implementation of microservices architectural style to develop a single application and the easy coupling of cloud-based programming interfaces with existing organizations' existing applications are expected to be major factors that are likely to surge the global cloud API market.

The increasing focus on improving operational efficiency and reducing operational costs has been a significant boost to the growth of the global cloud API market. IaaS API’s provide storage and raw computing, while SaaA APIs provide connectivity and software interaction, each API playing an important role. This has made it easier for small and medium enterprises to use these APIs as they do not require infrastructure and can be tailored to suit enterprise needs. The fact that cloud APIs are highly flexible is a huge advantage which encourages the market’s growth. Additionally, the increasing number of applications being built using microservices architectural design is a major driver of the market. With new developer tools being launched and a strong presence of market players which are cornering niche cloud platform providers are expected to improve the market’s opportunities in the future.

Market Segmentation:

The global cloud API market has been segmented into 3 key components. These have been determined on the basis of end-users, verticals, and region. End-users of cloud API include large enterprises and small & medium enterprises.

Verticals, where cloud APIs are extensively employed, include BFSI, healthcare, manufacturing, IT & telecommunication, education, media & entertainment, and others.

The key regions covered in MRFR’s report on the global cloud API market include North America, Asia Pacific, Europe, and the Rest of the World.

Detailed Regional Analysis:

The worldwide cloud API market appears to be highly competitive due to the growing demand for technology. As per MRFR's regional study, the API cloud market in North America is projected to generate maximum revenue across the review period. The different geographic regions where the cloud API market is studied are Americas, Europe, Asia Pacific and the Rest of World (RoW). After North America, Europe is estimated to witness the high growth pace of the market. It is noted that due to the quick adoption of cloud API across numerous verticals in the US, the market in North America is expected to gain a high traction across the years of assessment. In addition, as organizations incline towards microservices-based business models the regional market is likely to make high gain. The cloud API market in the Asia Pacific region is expected to show significant growth.

Latest Industry News:

  • Kong Inc has released Kong 1.0 which is the latest version of its API gateway which focuses on hybrid and cloud-based architectures.

  • CareCloud has joined Google’s cloud healthcare API to offer increased interoperability and improve patient experience.

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