Cloud API Industry Expected to Swell $1.78 Billion by 2026, Claims AMR
Cloud API Industry
North America dominated the Cloud API Industry in 2018 and is projected to remain dominant during the forecast period with the highest CAGR
PORTLAND, OR, UNITED STATES, November 10, 2021 /EINPresswire.com/ -- Increasing digitalization and government initiatives to adopt cloud services, especially in emerging markets, are key drivers of the growth of the global cloud API industry. In addition, the significant growth of cloud migration activities is one of the key drivers driving the growth of the cloud application programming interface market during the forecast period.
Continuous application modernization and the growing demand for instant access to applications from anywhere among people is the driving force of the global cloud API industry. In addition, the increasing demand for software applications with its beautiful interactive user screens and commands is a factor that is expected to support the growth of the market.
According to a recent report published by Allied Market Research, titled, "Cloud API Industry by Type, Enterprise Size, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2019-2026," the Cloud API Industry size was valued at $417.3 million in 2018, and is projected to reach $1,786.1 million by 2026, growing at a CAGR of 20.3% from 2019 to 2026.
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Concerns related to the rise of cloud security and cyberattacks are fairly important limiting factors for the cloud API industry. In addition, the advent of native cloud-based applications and the integration of new technologies and APIs will provide revenue opportunities that will benefit the growth of the global cloud application programming interface market over the next few years.
By type, the SaaS API segment dominates the entire cloud application programming interface market in 2018, and this trend is expected to continue over the forecast period. This is due to the growing demand for software solutions among people in this digital age with a focus on connectivity. In addition, in the IaaS API segment, the cloud API industry's share increased significantly in 2018. This drive is expected to continue during the forecast period. In addition, the large enterprise segment is expected to grow further due to the increasing demand for cloud API solutions and services in large industries to accelerate and reduce time-consuming migration processes. Healthcare organizations will dominate the cloud API industry in 2018, and this trend is expected to continue during the forecast period. This is due to the rapid acceptance of cloud services among medical institutions.
In addition, the healthcare industry is opting to digitize transparent patient care solutions and improve its patient-centric approach, so this segment is expected to achieve the highest CAGR during the forecast period. In addition, healthcare organizations are developing strategic markets as part of fierce competition to drive cloud adoption, creating profitable market opportunities. In addition, IT and telecommunications companies will show significant growth in 2018, and their acceptance is expected to increase further during the forecast period.
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Key Findings Of The Study
• By type, the SaaS APIs segment dominated the Cloud API Industry. However, the IaaS APIs segment is expected to exhibit significant growth during the forecast period in the cloud API industry.
• Based on enterprise size, the large enterprise segment accounted for the highest revenue in 2018.
• Depending on industry vertical, the healthcare industry generated the highest revenue in 2018. However, IT and telecommunications sector is expected to witness considerable growth in the near future.
• Region wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the upcoming years.
Some of the key market players profiled in the report includes,
• Amazon Web Services Inc.
• CA Inc.
• Dell Inc.
• Google Inc.
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• Salesforce.com Inc.
• SAP SE
• TIBCO Software Inc.
Major players operating in this market have witnessed high growth in demand for predictive analytics solutions especially due to Industry 4.0 evolution. This study includes Cloud API Industry analysis, trends, and future estimations to determine the imminent investment pockets.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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David Correa
Allied Analytics LLP
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