The cloud API and management platforms and middleware market is set to expand as businesses increasingly adopt cloud-based applications and the need for security and compliance grows, with a CAGR of 3.7% expected from 2023 to 2033, according to FMI.
A Business Guide to Cloud API and Management Platforms for Success; FMI finds Key Opportunities at a CAGR of 3.7% through 2033
The increasing demand for cloud computing as all businesses are shifting to the cloud creates many opportunities in this market. But the implementation cost is expensive, which may become a barrier for entry-level businesses.
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Market Opportunities
The cloud API and management platforms and middleware market is growing with a great CAGR value of 3.7%, which is the biggest factor that creates many opportunities in this market. The cloud is increasingly popular in small and big businesses as all are becoming aware of moving their companies to the cloud.
Cloud is used in many sectors like healthcare, retail, banks, media and entertainment, and telecom.
Key Takeaways
- The global market value of cloud API, management platforms, and middleware will reach US$ 1,553.7 million by 2033.
- The cloud API, management platforms, and middleware market is projected to expand at a rate that outpaces the overall cloud computing industry, with an expected CAGR of 3.7%.
- North America is home to a number of large technology companies, such as Google, IBM, and Microsoft. North America’s market share for cloud API and management platforms and middleware is 28.4%.
- Europe is a mature market for cloud computing, and there is a growing demand for cloud API and management platforms and middleware. This is due to the increasing adoption of microservices architecture. Europe’s market share for cloud API and management platforms and middleware is 23.1%.
- API-driven applications are becoming increasingly popular in the United States with a market share of 16.5%. This is due to the region’s growing population and the increasing demand for mobile and web applications.
- China is a smaller market for cloud computing, but it is growing rapidly. This is due to the growing demand for cloud API and management platforms and middleware. The market share for cloud API and management platforms and middleware in China is 4.5%.
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Competitors Winning Strategies
Competitors of cloud API and management platforms and middleware market are focusing on customer satisfaction and providing a user-friendly, easy-to-use and manage platform.
They are also partnering with other businesses to expand their businesses to get more new customers. They are trying to provide new features and improve their platforms’ performance, which helps customers use that platform more effectively and easily.
Google Apigee, IBM API Connect, Microsoft Azure API Management, Amazon Web Services API Gateway, MuleSoft Anypoint Platform, WSO2 API Manager, Kong API Gateway, TIBCO Mashery, and CA API Management are the competitors of cloud API and management platforms and middleware market.
Recent Developments
- January 2023: Kong Inc., a prominent supplier of API gateways, received $125 million in Series D investment. The cash will be utilized to accelerate Kong’s expansion and extend its range of products.
- February 2023: WSO2, a renowned API management and integration solutions supplier, published WSO2 API Manager 3.0. WSO2 API Manager 3.0 includes a variety of freshly introduced capabilities and features, like support for OpenAPI 3.0, better security, and further granular control over API access.
- March 2023: Microsoft revealed the public release of Azure API Management 2.0, a substantial improvement to its API management platform. Azure API Management 2.0 delivers a variety of additional capabilities and features, such as assistance with OpenAPI 3.0, enhanced security, and more granular control over API access.
Key Segments Profiled In The Cloud API And Management Platforms And Middleware Market Survey
By Enterprise:
- Large-scale Enterprises
- Medium-scale Enterprises
- Small-scale Enterprises
By Industry:
- Retail
- Healthcare
- Telecom
- BFSI
- Media & Entertainment
- Hospitality
- Education
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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