The global cloud API market is witnessing a high demand due to the increasing adoption of cloud-based computing systems in the world, major players – Microsoft Corporation, IBM Corporation and Amazon Web Services, Inc.
The Cloud API market was valued at US$295 million in 2016 and is expected to reach US$1,424 million by 2025, according to a new Cloud API Market research report.
Summary of the report †
Cloud API Market, By Organization Size (Small & Medium Enterprises & Enterprises), By End Users (BFSI, Healthcare, Hospitality, IT & Telecommunications, Media & Entertainment, Retail & Others), & By Geography – Global Forecast to 2025
A Cloud Application Programming Interface (API) is a set of generic interfaces that allow the creation of services and programs used to deliver Internet-based computing infrastructures and computing devices. A cloud API can be loosely defined as the core element behind any public web service, application, or platform. It is an abstraction on top of an existing programming language, the main purpose of which is to allow the third party program to access an internal data structure, process it in a form that can be communicated to the customer, while preserving all the secrets the provider has. The big advantage of using a cloud API to build applications is that it makes it easier to exchange large amounts of data without having to deal with system processes or network connections. Using an API also helps developers avoid various security vulnerabilities that they face when working on client-side programming.
Major players in the global Cloud API market include: Google Inc., Salesforce.com, Inc., Dell, Inc., CA, Inc., TIBCO Software Inc., SAP SE, Oracle Corporation, Microsoft Corporation, IBM Corporation and Amazon Web Services, Inc.
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Key Market Factors:
The increasing use of cloud computing services in the world is the main factor expected to boost the growth of the global cloud API market. For example, according to Microsoft’s reports, more than 714 million users currently use the cloud computing service Microsoft Azure, and more than 85% of Fortune 500 companies also use this service. In addition, increasing product and service introductions by key market players are expected to drive the global cloud API market.
Geographically, the report examines production, consumption, revenue, market share, growth rate, and forecasts for the following regions:
North America (United States, Canada)
Asia-Pacific †China, Japan, India, South Korea, Australia, Indonesia, others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, others)
Latin America (Brazil, Mexico, others)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)
Covid-19 Impact Analysis
With the increasing lockdown measures imposed in several countries, everything became digital during the COVID-19 pandemic, including various delivery systems and services. Because of this, several companies have developed new strategies to incorporate cloud computing into their day-to-day work, increasing the demand in the global cloud API market. For example, according to Mint, Walmart announced in August 2021 that it would launch a new delivery service for other enterprises, which will be a similar strategy to Amazon’s cloud computing unit called Amazon Web Services.
Some of the key questions answered in this report include:
Who are the top five Cloud API Market players?
What will the Cloud API Market look like in the coming years?
Which product and application will dominate the Cloud API market?
What Are the Drivers and Constraints of the Cloud API Market?
Which regional market will represent the greatest growth?
What will be the CAGR and market size of the Cloud API market during the forecast period?
What is the current market size, what will it be in 2029 and what will be the growth rate?
What are the constraints on market growth?
What market opportunities and risks do key companies face?
Who are the main competitors and what is their strategic approach?
What are the entry challenges for new players in the market?
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Detailed TOC of Cloud API Market Forecast Report:
1 Cloud API Market Overview
1.1 Cloud API Market Product Overview and Scope
1.2 Segment by type
1.3 Global Segment by Application
1.4 Global Market, Region-wise (2017-2022)
1.5 Global Cloud API Market Size (2017-2029)
2. Global Cloud API Market Landscape by Players
2.1 Global Cloud API Market Sales and Share by Player (2017-2022)
2.2 Global Revenue and Market Share by Player (2017-2022)
2.3 Global average price per player (2017-2022)
2.4 Global gross margin per player (2017-2022)
2.5 Production base distribution, sales territory and product type per player
2.6 Market competitive situation and trends
3 Cloud API Market Upstream and Downstream Analysis
3.1 Industrial chain analysis
3.2 Main raw material suppliers and price analysis
3.3 Analysis of the main supply and demand of raw materials
3.4 Production process analysis
3.5 Market concentration of raw materials
3.6 Downstream Buyers
3.7 Value chain status under COVID-19
Market Scale and Segment Analysis:
Global Cloud API Market, by Organization Size:
small and medium enterprises
Global Cloud API Market, by End Users:
IT and Telecommunications
Media and entertainment
Key learning points
The size of the global cloud API market was estimated at about US$396.43 million in the year 2018 and at a CAGR of 19.42% is estimated to be about US$638.57 million in the year 2026, due to the increasing adoption of cloud-based computing services in various end-use sectors. For example, according to Net Solutions, the Google cloud platform includes cloud computing, storage and application services for various backend webs and mobile solutions that use the internet. More than 4 million applications use and trust the platform.
North America is expected to hold a large share of the global cloud API market, due to the increasing use of cloud computing services by companies in the region. For example, according to Right Scale’s 2019 annual State of the Cloud Report, approximately 91% of enterprises were using public cloud and approximately 72% were using private cloud computing services. Moreover, the increasing prevalence of key market players in the region is expected to drive the growth of the market.
Asia Pacific is estimated to see significant growth in the global cloud API market, thanks to the increasing strategies of key market players to expand their businesses in developing countries such as India. For example, according to Indian Express Limited, the price of Google One cloud storage plans was 50% off the price in India in December 2020.
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