The global cloud API, management platforms, and middleware market are likely to reach USD 1,553.7 million by 2033, up from USD 1,077.0 million in 2023, advancing at a CAGR of 3.7% during the forecast period.
During the forecasting period, the development of Internet of things (IoT) holds the potential to expand new cloud API and management platforms and middleware opportunities, eventually increasing the market growth.
The market cloud API, management platforms, and middleware are expected to enhance in the coming years due to the rise in demand for high operational efficiency and DevOps automation among development engineers to shorten the time to market for product launches.
Moreover, it has been observed that a number of standalone API vendors (pure-plays) have been acquired by large-scale enterprises in order to capitalize on the opportunity in cloud API and management platforms and the middleware market in the long run.
| Attribute | Details |
|---|---|
| Market Value (2023) | USD 1,077.0 million |
| Market Anticipated Forecast Value (2033) | USD 1,553.7 million |
| Market Projected Growth Rate (2023 to 2033) | 3.7% |
The primary growth factor behind the rise of cloud API market is identified as the emergence of the Internet of Things. As connected devices increase with the rise of IoT, the need of analysis and monitoring of those devices are also increasing, which can be done though cloud APIs.
In addition to this, several start-ups and small-scale enterprises are adopting assemble from components methodology that enables end users to use APIs to connect apps to IT assets, resulting in growth in the usage of cloud APIs.
Owing to the widespread use of cloud computing and the rise in the business demand of micro-services, the cloud API and management platforms and middleware market is expected to grow. On the other hand, rise in digitization and intense adoption of analytics and cloud technologies are also having positive impact on the market.
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Cloud API and management platforms and the middleware market are fast picking up due to the wide adoption of mobile and cloud applications for back-end services and the wide adoption of microservices-based architectures by enterprises.
These applications comprise small, independent processes that communicate via API, creating demand for cloud API and management platforms and middleware.
The challenge faced by the market is that many large-scale enterprises have applications with point-to-point integration, which is not well documented, thereby making integrating these applications with modern apps. Hence, if there is a restriction on the company's IT budget (spending), the companies tend to side-line services comprising cloud APIs.
Apart from this, the cloud API management solutions also offer additional services such as security, analytics, and platform add-ons such as bot prevention by stopping bad bot traffic, internet of thing APIs by building apps that connect to multiple devices, and monetization by offering flexible rate plans.
Cloud API and management platforms and middleware market share are currently dominated by the North American region and account for over 50% in 2022 on account of the increase in the use of cloud-based services. Due to the presence of advanced IT infrastructure, several significant players are operating in this area, shaping the market trends.
Additionally, during the projected period, North American nations' high IT expenditure capacity significantly contributes to the expansion of cloud API and management platforms and the middleware market in this region.
By 2022, Europe is anticipated to get hold of cloud API and management platforms and a middleware market share of 25.5% in 2022 as healthcare and government sectors are shifting towards the usage of cloud-based services.
The European Union (EU) Information and Communication Technology (ICT) sector contributed USD 644.75 billion to the market for cloud API and management platforms and middleware in 2015, indicating that it is experiencing a period of sustained expansion.
Business models vary throughout time, sometimes due to market shifts and other times due to technological advancements, which leads to the birth of exciting new trends.
Such cloud API and management platforms and middleware market trends are brought about by numerous start-ups that are emerging in the market lately.
Upbound is a cloud-native computing firm offering businesses a multi-cloud platform to combine various cloud environments into a single cloud environment.
Users can use multiple private and public cloud environments to run, scale, and optimize their services. It offers a platform for automation that enables businesses to create scalable cloud services. Cost optimization, capacity overflow, failover, policy enforcement, and portability between clouds are among the features.
Top companies in the cloud API and management platforms and middleware market are involved in various organic and inorganic strategies, including mergers and acquisitions, partnerships, and collaborations, thereby augmenting the market share.
A few of the recent developments in cloud API and management platforms and the middleware market are listed below:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.7% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Enterprises, Industry, Region |
| Regions Covered | North America; Latin America; Asia Pacific; The Middle East and Africa; Europe |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Google; Software Inc.; IBM; Microsoft; TIBCO; Amazon Web Services, Inc.; Broadcom; Dell Inc.; Oracle; Salesforce; Axway; SAP SE; VMware, Inc.; Red Hat, Inc.; TWILIO INC.; UpCloud Ltd.; RACKSPACE US, INC.; Mulesoft, LLC; Informatica; Celigo, Inc.; Boomi, Inc. |
The growth potential of the market is 3.7% through 2033.
Budget limits drive enterprises to skip cloud API due to undocumented integrations.
North America is projected to lead the market.
Rapid adoption of mobile/cloud apps, and microservices in enterprises.
Cloud services adoption in healthcare and government sectors propels Europe’s growth.
Cloud API And Management Platforms And Middleware Market
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