Increasing number of cloud-based applications is likely to drive Cloud API Market with Significant CAGR; MRFR Unleashes Industry Insights Up To 2023
Pune, India -- (SBWIRE) -- 12/11/2018 -- The Cloud API Market is growing rapidly over 20% of CAGR and is expected to reach at USD 763 million by the end of forecast period. Cloud API Market by End-Users (Large Enterprises and Small & Medium Enterprises) and Vertical (BFSI, IT and Telecommunication, Manufacturing, Education, Healthcare, Media & Entertainment and Others) by Forecast to 2022
Global Cloud API Market – Overview
Cloud API Market is a public cloud solution that acts a gateway that direct and indirect cloud infrastructure and software services to end-users. Globally, the cloud API market is likely to have a moderate growth rate during the forecast period. The market growth is attributed to due to surge in number of applications based on microservices architectural design. Also, the companies are adopting organic as well as inorganic approaches to deliver reliable and efficient API solutions for their clients . Advanced economies such as the US, the UK and others are gaining a significant market share in the Cloud API market owing to robust cloud infrastructure. Moreover, increasing number of cloud-based applications are one of the major driving factors for the market growth. However, lack of portability and interoperability skills and security and data privacy concerns are some of the challenging factors for the cloud API market during the forecast period.
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Some of the key players in the global cloud API market includes International Business Machines Corporation (US.), Microsoft Corporation (US), VMware Inc. (US), Salesforce.com (US), TIBCO Software Inc. (US), Oracle Corporation (US), SAP SE (France), Amazon Web Services (US), Google LLC. (US), CA Technologies Inc. (US), Citrix Systems Inc. (US), and others.
September 2018, Amazon Web Services partnered with Salesforce.com to speed up the enterprise digital transformation.
Amazon Web Services partnered with Salesforce.com formed an alliance for their product integration that allows their customers to securely share and synchronize data across salesforce lighting and AWS platform. Additionally, the AWS PrivateLink offers SaaS application developers to build on AWS and facilitate private endpoints as an additional option for accessing their services.
August 2018, DXC technology partnered with Amazon Web Services to transform IT services and fasten client migration to AWS
The collaboration allows their clients to migrate their existing IT environments and application to the cloud. Also, the collaboration is the result of the increasing client demand for integrated, secured, industry-based solutions that improve the existing cloud technologies with more reliable and scalable AWS platform.
April 2018, TIBCO Software Inc, unveiled cloud foundry container runtime and Pivotal Cloud Foundry 2.0 solution
Through the launch of Cloud Foundry Container Runtime solutions allows its customers to improve its multi-cloud capabilities offered by Cloud Foundry platform that allow to reuse the investments made in TIBCO's integration technology
Global Cloud API Market - Segmentation
Segmentation by Service Type: Infrastructure as a Service (IaaS), Software as a Service (SaaS), and Platform as a Services (PaaS)
Segmentation by End User: Small & Medium Enterprise and Large Enterprise.
Segmentation by Vertical: BFSI , IT & telecommunication, healthcare, education, manufacturing, media & entertainment and others.
Segmentation by Region: North America, Europe, Asia-Pacific, and Rest of the world.
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Global Cloud API Market Regional Analysis
The regional analysis of global Cloud API market is studied for North America, Europe, Asia-Pacific and Rest of the World.
North America dominates the cloud API market with the US and Canada as the leading countries and is expected to remain dominant during the forecasted period. The market growth is attributed to the robust cloud infrastructure associated with presence of IT giants such as IBM Corporation, Microsoft Corporation, Oracle Corporation, and others
Asia-Pacific is expected to reach the highest CAGR with China, Japan, India as the leading countries in the region due to increase in demand for cloud API services for various commercial application. The rise in the cloud infrastructure due to increased investment by the advanced economies. Countries such as India, China and Japan are witnessing rise in social media advertising platforms. Increase in number of social media platform for advertisement sectors are likely to drive the cloud API market during the forecast period.
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