Dublin, Dec. 19, 2022 (GLOBE NEWSWIRE) -- The "Global API Management Market By Component, By Deployment type, By Organization Size, By vertical & By Region-Forecast Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
Global API Management Market size was valued at USD 4.42 billion in 2021, and it is expected to reach a value of USD 8.36 billion by 2028, at a CAGR of more than 10.88% during the forecast period (2022-2028).
The global API management market is being driven by the requirement to control the use of application programming interfaces (APIs) to decode the data of systems or companies in an effort to make it useable for other divisions of the company or third-party organizations in creative ways.
Segments covered in this report
The global API Management market is segmented based on the component, deployment type, organization size, vertical and region. Based on the component, it is segmented into solutions, and services. Based on deployment type, it is segmented into on-premises, and cloud. Based on organization size, it is segmented into SMEs, and large enterprises. Based on vertical, it is segmented into BFSI, IT & Telecom, retail & consumer goods, and others. Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
The demand for API management solutions is being fueled by the growing requirement for governance and a lifecycle framework for APIs. The global API management market is expected to increase significantly in the coming years due to the huge rise in the popularity of web APIs and the increasing demand for both public and private APIs. In addition, it is projected that over the coming years, the portability of these solutions and the development of apps will greatly benefit this sector.
Restraint
Data security, legacy SOA investments and performance monitoring by qualified professionals are a few of the challenges anticipated to hinder the market from reaching its full potential. System integrators, digital transformation, and the integration of SOA and PaaS are a few of the new business opportunities that are open to the market's participants.
Market Trends
The competition between well-established multinational and local firms defines the API management market on a global scale. The expansion of the enterprises of the market participants depends greatly on technological improvements. In order to strengthen themselves in the worldwide market, they are likely to transfer their attention in the upcoming years to strategic alliances. A collection of protocols, programs, and tools collectively known as an application programming interface (API) are used to create software programs. API management enables an organization to monitor the functionality of the interface and satisfy the needs of the application and developers by serving as a communication protocol between software programs. Individual application traffic can be monitored via API management, which also aids in managing cache memory to increase application speed. As API management software has become a crucial tool for many business suppliers to improve their client experience, it can either be produced in-house by an organization or imported from third-party providers.
Key Topics Covered:
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
Key Market Insights
Covid Impact
Market Dynamics & Outlook
Global API Management Market by Component
Global API Management Market by Deployment Type
Global API Management Market by Organization Size
Global API Management Market by Vertical
Market Size by Region
Key Company Profiles
Companies Mentioned
- Google (US)
- IBM (US)
- Microsoft (US)
- Axway Software (US)
- Broadcom Inc. (US)
- MuleSoft (US)
- Oracle Corporation (US)
- Software AG (Germany)
- Kong Inc. (US)
- Red Hat (US)
- SAP SE (Germany)
- TIBCO Software (US)
- Amazon Web Services (US)
- Boomi (US)
- Postman (US)
- Sensedia (Brazil)
- WSO2 (US)
- Torry Harris Business Solutions (US)
- Akamai Technologies (US)
- Workato (US)
- Tray.io, Tyk Technologies (UK)
- OpenLegacy Technologies (US)
- DreamFactory Software (US)
- TeejLab, Inc. (Canada)
- Nevatech Inc. (US)
- PrestoAPI (US)
- Stoplight (US)
- Gravitee Topco Limited (France)
- Solo (US)
- KrakenD (Spain)
For more information about this report visit https://www.researchandmarkets.com/r/b5ek2a
