Overview

The API management market has been proliferating at a rapid pace. The market growth attributes to the recent upgrades in API management solutions. Besides, rising market penetration of mobility solutions and various apps and increasing numbers of mobile subscribers drive the market growth. Rise of social media and the growing demand for private & public APIs positively impact the growth of the market. Moreover, the increasing popularity of web APIs and advances in the internet of things (IoT) devices and big data escalate market growth.

According to Market Research Future (MRFR), the global API Management Market is expected to reach approximately USD 3 BN by 2030, registering a whopping 35% CAGR throughout the review period (2020 – 2030). Increasing capabilities of analytic tools to analyze complex data accumulated by businesses is a key driving force behind the growth of the market. Also, the demand for advanced application programming interfaces to improve publishing, documenting, and overseeing processes substantiates the market growth.

Additionally, API to monitor the interface's lifecycle and the needs of developers influence the growth of the market. Increasing purchases of built in-house software as a service through a third-party provider increase the size of the API security management market. Conversely, data security concerns, and legacy investments in SOA and performance monitoring are the major factors estimated to impede the market growth. Nevertheless, rising system integrators, digital transformation, and SOA & PaaS integrations would support market growth throughout the assessment period.

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Global API Management Market –Segments

The report is segmented into four dynamics.

By Component : Solutions and Services.

By Service : Training & Consulting, Integration, Support & maintenance, and others.

By Deployment : On-premises and Cloud-based.

By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.

Global API Management Market – Competitive Analysis

Fiercely competitive, the API management market witnesses the presence of several notable players. To gain a larger competitive advantage, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, product launch, and expansion. Key players focus on the innovation of products and new manufacturing processes. This, as a result, intensifies the already competitive nature of the market.

The recreational vehicle market demonstrates a high growth prospect, attracting several new entrants. Major players in the market are committed to delivering reliable, leading-edge solutions and services.

They invest substantially in R & D to develop unique solutions entirely on a different level compared to their competition.

Industry/Innovation/Related News:

August 19, 2020 ---- Akana by Perforce, a provider of the end-to-end API management solutions for designing, implementing, monitoring, securing, managing, and publishing APIs, unveiled the new version of its API management platform with Akana 2020.1.0. Increased visibility for API product managers enhances the understanding of API usage metrics across business verticals such as Business analytics Operational analytics, and Streaming Analytics with Kafka. Akana offers computer software products for application programming interface management. The latest version of Akana's full lifecycle API management platform adds a consumer-focused developer portal.

Global API Management Market – Geographical Analysis

North America dominates the global API management market. The largest market growth attributes to large technological advancements and the presence of various cloud service providers in the region. Besides, the presence of many industry players and futuristic infrastructure in the region drives the market growth, bringing about advanced API platforms. Moreover, the increasing digitization of business processes, technological advances, and organizations' focus on adopting business intelligence solutions boost the growth of the API management market in the region.

Europe stands second in the global API management market. The market is driven by the rising technical expertise in services, and enormous investments in the development of business analytics. Additionally, the rapidly developing digital technology and increasing demand for API management solutions for business intelligence positively impact regional market growth. Furthermore, the spurting rise in retail & consumer goods industries in the region boosts the growth of the European API security management market.

The Asia Pacific API management market is emerging as a promising market globally. Factors such as the broader acceptance of cloud-based solutions and emerging technologies such as the internet of things (IoT), big data, and analytics drive the regional market growth. The growing adoption of smartphones and growth in data-driven business boost the market growth in this region. Additional factors, such as increasing numbers of enterprises and massive technological advances in API platforms, foster the growth of the regional market.

Developing countries such as Japan, China, and India account for the leading share in the APAC API security management market. Besides, substantial advances in digital technology, alongside the developments in Business reality and artificial intelligence technology propel the growth in the regional market.

Major Players:

Players leading the global API management market include Microsoft Corporation (US), IBM Corporation (US), Akana, Inc. (US), Cloud Elements, Inc. (US), CA Technologies, Inc. (US), Hewlett-Packard Enterprises Co. (US), MuleSoft, Inc. (US), Mashape Inc. (US), Oracle Corporation (US), SAP SE (Germany), and RedHat, Inc. (US), among others.

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API Management Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030

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