By 2026 end, the global market for cloud API is likely to surpass US$ 1,000 Million revenue.
Albany, NY -- (SBWIRE) -- 02/28/2019 -- The report expects the global market for cloud API to grow significantly during 2017-2026. The global cloud API market is also projected to bring in US$ 1,773.9 Million revenue by end of the forecast period.
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The cloud API is growing at a faster phase owing to the wide adoption of smartphones and cloud applications for back-end services. Cloud API differ as per the service and solution, for instance, three major types of services are Platform as a Service (PaaS), Software as a Service (SaaS), and Infrastructure as a Service (IaaS). Businesses globally are also adopting cloud technology, this is driving the demand for cloud API. Increasing number of connected devices with the emergence of Internet of Things (IoT) is also playing an important role in the growth of cloud API. As faster analysis and monitoring is possible through cloud API, which has become necessary for connected devices.
Various groups are working on developing standards for cloud API, as the goal is to move towards a common cloud API. Cloud APIs are also working on creating interoperability between clouds which will allow users to move data easily and also prevent cloud providers to lock users in their platforms. Increasing customer needs is leading towards the efficient API development program. Companies are developing complex APIs with an aim of providing intelligent real-time experience. The need for cross-platform compatibility is rising. Hence, cross-platform API allows people to access resources, not just from primary cloud provider bust also from other.
Application Programming Interface (API) is emerging as one of the most important tools to provide access to data. Businesses are increasingly moving towards using APIs for digital transformation. API for companies is emerging as the important component to merge the old and new IT platforms and to capture and store a vast amount of data. A business model of the majority of the companies exists around the Software as a Service platform. Moreover, many mobile applications depend on APIs. Hence, tech-savvy companies rely on public, private or partner APIs. Companies are providing comprehensive API management solution by focusing on usage, access control and documentation and also on how the DevOps will handle maintenance.
Prominent Players in the Global Cloud API Market
Google Inc., Apigee Corporation, 3scale Inc., SAP SE, Microsoft Corporation, TIBCO Mashery, CA Technologies, Inc., International Business Machine Corporation, Axway Software SA, and Amazon Web Services, Inc., are some of the leading players in the global market for cloud API.
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This report offers key insights into the global cloud API market and key factors resulting in the market popularity. The report also provides an assessment of long-term and short-term strategies and requirements for achieving success in this business. The report has segmented the global market for cloud API based on the vertical, end users, and regions. The report begins with an executive summary including definition and introduction of the market. Along with this, the section also includes analysis of the market based on the demand and supply in the global cloud API market. Impact analysis of based on the weighted average model is provided to help take correct decision for growth.
All the segments are further divided into sub-segments and regions are further segmented into countries. The market size analysis across various regions is provided in the report. The report also offers incremental opportunity and basis point share analysis. Information on the latest technologies and key developments is offered in the global cloud API market. This study also focuses on the key trends within countries playing an important role in the market growth. Furthermore, drivers and restraints impacting market growth in all the key regions are given in the report.
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