billing, business continuity, business agility, the various banking and financial institutions
have adopted the cloud platform which also raised the demand of cloud APIs in BFSI
industry.
Key Takeaways of the Cloud API Market:
The global Cloud API market was valued at US$ 295 million in 2016 and is projected to
reach US$ 1,424 billion by 2025, exhibiting a CAGR of 21.9% over the forecast period
Among organization size, the small and medium size enterprises segment is projected to
grow with the highest CAGR in the forecast period. The rising trend among business and
consumers for integrating mobile and web application in their daily routine encourage
small and medium size companies of various verticals to adopt digital platform. Hence,
this adoption of digital platform helps SMEs to increase their footprints in the market.
Basically, SMEs adopts cloud platform due to less investment and maintenance cost for
IT infrastructure and feature for access in remote location have increased the demand of
Cloud
APIs
in
SMEs.
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Among geography, North America holds the dominant position in 2016 and is projected
to retain its dominance throughout the forecast period. Due to early adoption technology
culture in this region have provided the dominant position to the market. In addition to
this, due to high dominance of digitalization and highly presence of top leading
companies such as Oracle, Microsoft, IBM, Google, etc have uplifted the cloud API market
in this region. The United States and Canada are some of the major countries which
drives the market in this region.
Some of the major companies in the global Cloud API market are Amazon Web Services,
Inc., CA Technologies, Inc, Citrix Systems, Inc., Google Inc., International Business
Machines Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Inc., Red
Hat, Inc, Tibco Software Inc. VMware, Inc. and Zend Technologies Ltd
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