The most recent study conducted by Report Ocean, titled “Global Cloud Application Programming Interface (API) Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Cloud Application Programming Interface (API). The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Cloud Application Programming Interface (API) Market to reach USD $ billion by 2027.Global Cloud Application Programming Interface (API) Market is valued approximately USD $ billion in 2020 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2021-2027. Cloud Application Programming Interface (API) is a software interface that allows developers to link cloud computing service together.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Application programming interfaces (APIs) allow one computer program to make its data and functionality available for other programs to use. So, basically APIs can connect software component across a network. The increasing demand of cloud computing and new advancements will help the business man to grab business opportunity.
For instance: according to NCBI, Microsoft Azure enables customers to build the foundation for a private cloud infrastructure using Windows Server and System Center family of products with the Dynamic Data Center Toolkit. Furthermore, the adoption of cloud computing and rise in the demand for micro services by organizations are also anticipated to flourish the growth of the cloud application programming interface (API).
Also, with the increasing digitalization, the adoption & demand for Cloud Application Programming Interface (API) is likely to increase the market growth during the forecast period. However, rising security concerns associated with the cloud API security will be major limitation for the cloud application programming interface market.
The key regions considered for the global Cloud Application Programming Interface (API) market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is dominating the market of cloud API as the region is well developed and there are high number of early adopters of cloud technology.
Whereas, Asia-Pacific is register exhibit highest CAGR over the forecast period 2021-2027. It is expected to witness significant growth owing to increase in number of cloud Enterprise Size providers in the region and rising digitalization in Asia-Pacific region would create the highest growth in the forecasted period 2021-2027.
Major market player included in this report are:
Amazon Web Enterprise Sizes Inc.
CA Inc.
Dell Inc.
Google Inc.
IBM Corporation
Microsoft Corporation
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Oracle Corporation
Salesforce.com Inc.
SAP SE
TIBCO Software Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Organization Size:
Large-Scale Enterprises
Medium-scale Enterprises
Small-scale Enterprises
By End User:
Retail
Healthcare
Telecom
BFSI Media and Entertainment
Hospitality
Education
Others
By Region:
North America
U.S.
Canada
Europe
UK
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Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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