Cloud API Market Set to Grow at Healthy CAGR of 20.23% by 2027

Posted by nileshdbmr on March 31st, 2021

Cloud API market is expected to reach USD 2,148.67 million by 2027 witnessing market growth at a rate of 20.23% in the forecast period of 2020 to 2027. Cloud API is a type of an API which allows the creation of cloud infrastructure, software and platform applications and services. It usually acts as a gateway that provides cloud services to the users. Some of the common types of cloud API are PaaS APIs, SaaS APIs, IaaS APIs and cross-platform APIs.

Major Market Competitors/Players: Global Cloud API market

The major players covered in the cloud API market report are Amazon Web Services, Inc., Broadcom, Dell Inc., Google, IBM Corporation, Oracle, salesforce.com, Inc., TIBCO Software Inc., SAP SE, Axway, Scale AI, Inc., VMware, Inc., Red Hat, Inc., TWILIO INC., UpCloud Ltd, Bandwidth Inc. among other domestic and global players.

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Increasing demand for cloud native API is expected to create new opportunity for the market. Some of the other factors such as rising adoption of cloud computing, increasing demand for micro services by organizations, rising digitalization, technological advancements and improvement in the operational efficiency and DevOps automation is expected to further enhance the cloud API market in the forecast period of 2020 to 2027.

Market Segmentation: Global Cloud API market

•          On the basis of type, the cloud API market is segmented into PaaS APIs, SaaS APIs, IaaS APIs and cross-platform APIs.
•          The enterprise size segment of the cloud API market is divided into large enterprises and small & medium enterprises.
•          Based on industry vertical, the cloud API market is segmented into BFSI, IT and telecommunication, manufacturing, education, healthcare, media & entertainment and others.

Focus of the report

•          CAGR values in the market for the forecast period
•          Key trends in the market place
•          Major players and brands
•          Historical and current market size and projection up to 2026.
•          Detailed overview of parent market
•          Changing market dynamics of the industry

Reasons to Purchase this Report

•                     The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
•                     Regions/Countries that are expected to witness the fastest growth rates during the forecast period
•                     The latest developments, market shares, and strategies that are employed by the major market players