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Increasing adoption of cloud computing among organisations is boosting the cloud API market revenue. A survey by O’Reilly in 2021 revealed that 90% of its respondents used the cloud, especially in sectors such as retail, software, finance and banking, and e-commerce. Two-thirds of the survey’s respondents (67%) reported using a public cloud whereas 45% of respondents were using a private cloud. Similarly, OVHcloud’s recent executive report in 2024 revealed that 62% of organisations are using multi-cloud environments, with 18% actively transitioning to a multi-cloud environment. Cloud APIs facilitate seamless integration between multiple cloud services and platforms, enabling workflow automation and data exchange. APIs provide developers with pre-built cloud functionalities, enabling them to rapidly innovate and roll out new features. Moreover, the utilisation of cloud APIs reduces the need for extensive on-premise infrastructure, lowering operational costs.
Growing Focus on Security
In July 2024, Akamai Technologies, Inc.’s report, State of the Internet (SOTI), revealed that over 26 billion web attacks against APIs and applications, including security breaches, distributed denial-of-service (DDoS) attacks, and abuse, among others, were witnessed in June 2024, a 49% y-o-y increase. Hence, organisations are prioritising robust security measures and implementing encryption, authentication products, and regular security assessments, among others, for APIs to safeguard sensitive data. Moreover, stringent data privacy regulations such as CCPA and GDPR are pushing organisations to invest in secure cloud API development and management. In May 2024, Private AI introduced a Cloud API for its advanced PII redaction, detection, and data minimisation solution. The cloud API offers unparalleled scalability, convenience, and accuracy, and is aimed at supporting businesses to incorporate powerful PII detection capabilities into their existing applications and workflows, ensuring the highest level of regulatory compliance and data security.
Integration of AI and ML in Cloud API
The 2024 API Impact Report published by Kong found that AI is a priority for 92% of API developers, with 83% of developers prioritising AI investments for the development of new services or products in 2023. The report also predicted that the value of APIs in enabling AI will surge by 170%, emphasising the importance of robust API strategies for innovations. There is a rising integration of technologies such as artificial intelligence and machine learning in cloud APIs to swiftly and accurately analyse vast amounts of data, enabling businesses to gain insights into operational metrics, customer behaviour, and market trends to facilitate informed decision-making. AI and ML-integrated cloud APIs also provide predictive analytics capabilities and offer personalised experiences by analysing user preferences and data, making them valuable in sectors such as healthcare, finance, and retail.
May 2022
WhatsApp launched the WhatsApp Cloud API for businesses worldwide, helping them eliminate expensive server expenses and providing customers with quick access to new features. Businesses can integrate the API with their back-end systems and extend it to include other messaging apps, SMS, and emails for bigger communication plans.
September 2024
Kong Inc. announced the launch of the latest version of Kong Konnect, the API platform for the AI era. The platform provides a comprehensive solution for managing the overall API lifecycle, ranging from development to deployment.
The increasing number of web attacks against APIs and applications is prompting organisations to prioritise security and implement robust authentication, encryption, and regular assessments for protecting sensitive data. The introduction of stringent regulations such as GDPR and CCPA is also surging investments in secure cloud API development, increasing the cloud API market value. In addition, the 2024 API Impact Report by Kong revealed that 92% of API developers view AI as a priority, with 83% investing in AI for new services. The report estimates a 170% increase in the value of APIs for enabling AI, underscoring the need for effective API strategies. The integration of AI and machine learning into cloud APIs allows for rapid data analysis, yielding insights into operational metrics and customer behaviour. This technology also supports predictive analytics and personalised user experiences, making AI-integrated cloud APIs particularly valuable in sectors like healthcare, finance, and retail, facilitating informed decision-making and innovation.
Cloud APIs can be entry points for security vulnerabilities and managing sensitive data in compliance with various regulations such as HIPAA and GDPR can pose challenges for organisations. The integration of cloud APIs with existing systems can be resource-intensive and complicated, making companies hesitant to utilise them. A lack of availability of skilled workers for managing and developing cloud API can limit innovation and slow down its implementation. Moreover, the absence of universally accepted standards of cloud APIs can result in compatibility challenges and hinder interoperability between various cloud services.
The EMR’s report titled “Global Cloud API Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Enterprise Size
Market Breakup by Industry Vertical
Market Breakup by Region
By Type Insights
SaaS cloud API is extensively utilised for the development of different software applications, such as mobile apps. This type of API is preferred by developers due to numerous advantages such as scalability, integration capabilities, customisation, ecosystem development, and developer-friendly features. Such benefits also enhance the adoption of SaaS cloud APIs in various organisations.
As per the cloud API market analysis, PaaS cloud API boasts in-built tools to streamline the development process and automatically scale resources based on demand. PaaS cloud APIs are typically equipped with integrated development environments (IDEs), collaboration features, as well as debugging tools to facilitate efficient coding practices and teamwork.
By Enterprise Size Insights
Large enterprises account for a major portion of the market share. The cloud API market value is surging amid the increasing demand for cloud services from large corporations. These organisations can benefit from cloud services as they can outsource routine tasks and streamline operations.
Small and medium-sized enterprises (SMEs) adopt cloud APIs as they eliminate the requirement for expensive on-premise infrastructure and lower upfront costs. Cloud APIs also enable ease of scaling applications and services to SMEs, enabling them to meet evolving customer demands. Besides, SMEs can leverage advanced technologies such as artificial intelligence, data analytics, and machine learning through cloud APIs with expertise or investment in infrastructure.
By Industry Vertical Insights
In the healthcare sector, cloud APIs facilitate the exchange of health data across different systems and platforms, improving care coordination and leading to more informed decision-making among healthcare providers. The increasing popularity of telehealth services such as remote monitoring, video conferencing, and secure messaging is increasing the cloud API market value.
The BFSI sector leverages cloud APIs to connect with third-party providers and facilitate services such as account management and payment processing. The rising demand for personalised banking services and the growing focus on fraud detection, risk management, and targeted marketing strategies are favouring the cloud API industry growth.
North America Cloud API Market Trends
The cloud API demand growth in North America is being driven by the growing adoption of cloud services for application development and integration in the region. As per a Gartner analysis, over 85% of organisations are expected to adopt a cloud-first principle by 2025. The presence of leading players such as IBM, Amazon Web Services, and Google, among others, in the United States is also propelling the cloud API market expansion. Researchers are also utilising cloud APIs to access large sets of data for clinical studies and trials for the development of new medical technologies and treatment options.
Europe Cloud API Market Growth
The cloud API demand forecast in Europe is being aided by the increasing adoption of open APIs, facilitating innovation and collaboration. Stringent regulations such as the General Data Protection Regulation (GDPR) are prompting companies to develop cloud APIs with features such as user consent management and data anonymisation to ensure data security and privacy. As European companies are actively adopting multi-cloud strategies to enhance their flexibility, cloud APIs are crucial to integrating different services across cloud environments.
Asia Pacific Cloud API Market Drivers
Rapid digital transformation in the region is driving the Asia Pacific cloud API market expansion, prompting businesses to adopt cloud APIs to enhance customer engagement, streamline operations, and create new digital services and products. The region is also home to various tech startups focused on cloud API development, hence driving innovations in areas such as health tech, fintech, and logistics.
Key cloud API market players are developing cloud APIs that can seamlessly integrate with different cloud services. With the growing threat of cyberattacks, they are also prioritising cybersecurity features such as robust encryption, authentication mechanisms, and compliance with regulations like HIPAA and GDPR in cloud APIs.
Broadcom, Inc
Broadcom, Inc is a global technology corporation that specialises in the creation, advancement, and provision of an extensive array of semiconductor and infrastructure software solutions. Since its inception in 1961, the company has been based in California, the United States. Broadcom's operations encompass various sectors, such as wired infrastructure, wireless communications, enterprise storage, industrial sectors, and more.
Citrix Systems
Citrix Systems, Inc is a leading software development company based in Florida, the United States. The company, since its founding in 1989, has developed expertise in app and desktop virtualisation, cloud services, networking, and DaaS, among others. As for cloud services, Citrix offers a comprehensive suite of solutions designed to simplify and streamline the management and delivery of applications and data in cloud environments.
International Business Machines Corporation
International Business Machines Corporation., popularly known as IBM, is a pioneer in the field of technology. The company was founded in the year 1911 and has since developed to become one of the global leaders in various sectors of advanced technologies. The company is renowned for its expertise in various fields including computer systems, storage solutions, artificial intelligence, data analytics, and cloud computing, among others.
Other market players include Amazon Web Services, Inc, Google LLC, Microsoft Corporation, Oracle Corporation, Rackspace Technology Inc, Salesforce, Inc, SAP SE, and Cloud Software Group, Inc (TIBCO Software Inc), among others.
September 2021
AWS announced the general availability of AWS Cloud Control API, its set of common application programming interfaces (APIs) designed to make it easy for developers to manage their cloud infrastructure consistently while leveraging the latest AWS capabilities faster. Through this launch, AWS Partner Network (APN) Partners can automate the integration of their solutions with existing and future AWS features and services through a one-time integration.
March 2024
NVIDIA announced that the NVIDIA Omniverse™ Cloud will be available as APIs to create industrial digital twin applications and workflows across the entire software maker ecosystems. The new API enables developers to easily integrate core Omniverse technologies directly into existing design and automation software applications for digital twins.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached a value of around USD 1,237.86 million.
The market is assessed to grow at a CAGR of 15.40% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 4,504.35 million by 2032.
The market is being driven by the increasing adoption of cloud APIs in different sectors to streamline operations and the rising utilisation of cloud APIs to integrate AI/ML APIs with software applications.
The key trends supporting the market growth are the growing implementation of cloud APIs in the banking and finance sector and the increasing adoption of cloud APIs in large enterprises.
The major regional market includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different types of APIs include SaaS APIs, PaaS APIs, IaaS APIs, and cross-platform APIs.
The key players in the global cloud API market include Amazon Web Services, Inc, Broadcom, Inc, Citrix Systems, Inc, Google LLC, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Technology Inc, Salesforce, Inc, SAP SE, and Cloud Software Group, Inc (TIBCO Software Inc), among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Enterprise Size |
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Breakup by Industry Vertical |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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