Cloud Api Market Revenue Growth Predicted By 2020-2026Posted by avinash on March 16th, 2020 Cloud Application Programming Interface is a type of API that permits for the development of services and applications used for the provisioning of cloud platforms, software and hardware. A cloud application programming interface works as an interface or gateways that provides direct and indirect cloud software and infrastructure services to users. The increasing adoption of smartphones and cloud technology are some of the major drivers which accelerates the demand of cloud APIs. According to Coherent Market Insights, by 2020 near 92 percent of the workloads will be processed by cloud data centers. Similarly in 2016, near 2.1 billion smartphone users present globally and is projected to reach 2.9 billion by 2020.
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Market Dynamics On the basis of region, the global cloud APIs market is diversified into North America, Europe, Asia Pacific, Middle East and Africa. The Asia pacific segment is projected to grow with the largest CAGR in the forecast period. The increasing adoption of digitalization and rising penetration of internet users are some of the drivers which uplift the market in Asia Pacific region. According to Coherent Market Insights, in 2016, near 40.6% of the total Asia Pacific population uses internet and is projected to reach 48.8% by 2019. India, China, Japan are some of the major countries which drives the market in this region. In addition to this, the increasing adoption of cloud platform by e-commerce’s industry have also uplifted the market in this region. Due to various advantages such as auto scalability, cost savings, increased speed and security, easier management, high availability, the e-commerce’s companies adopting the cloud platform which also increased the demand of cloud APIs. Moreover, the increasing market of e-commerce in this region have uplifted the market of cloud APIs. According to India Brand Equity Foundation Organization, in 2016, e-commerce industry in India, generated revenue of US$ 15 billion and is projected to reach US$ 188 billion by 2025.
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Key Companies- Global Cloud API Market. Some of the major companies in the global Cloud API market Amazon Web Services, Inc., CA Technologies, Inc, Citrix Systems, Inc., Google Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Inc., Red Hat, Inc, Tibco Software Inc. VMware, Inc. and Zend Technologies Ltd. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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