Surging demand for digital transformation with the help of private and public API’s across various industries is the key trend in accelerating market growth. Global API Management Market has sets of practices and technologies to transform within organizations to meet consumer expectations. Hence, the market size for the Global API Management Market is anticipated to reach USD 21.68 billion By 2028.
API has played an important role in getting access to API Monetization, cloud platforms, and the Internet of Things (IoT), It has helped the organization in exposing its data internally and externally securely. The changing dynamics are enhancing the growth of the market and are helping to create secure APIs which can be created, secured, managed, and analyzed.
Segment Overview of Global API Management Market
Component Overview, 2018-2028 USD Billion
- API Platform
- API Portal
- API Gateway
- API Administrations
- API Monetization
- API Analytics
- Integration and Implementation
- Support and Maintenance
Deployment Mode Overview, 2018-2028 USD Billion
- On Cloud
Organization Size Overview, 2018-2028 USD Billion
- Large Enterprises
Vertical Overview, 2018-2028 USD Billion
- Telecommunication and IT
- Media and Entertainment
- Retail and Consumer Goods
- Healthcare and Life Sciences
- Travel and Hospitality
Regional Overview, 2018-2028 USD Billion
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global workplace market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the Global API Management Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Global API Management Market and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Software, organization size, and vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the Global API Management Market. The report will benefit:
- Every stakeholder is involved in the Global API Management Market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the Global API Management Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the Global API Management Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Advancements in big data analytics and digital transformation have led to the growth of the market. Increasing demand for managing API traffic and advancements in the Internet of Things has further led to the growth of the market. The growth in demand for connecting data to applications and devices has paved the opportunity for the market. It has further enhanced user experience by providing a resourceful and effective experience for the organization that uses these APIs. Besides, it provides a full life cycle framework and proper management of API’s
The Solution segment will grow at the highest CAGR in the forecast period. The growth of the segment is due to the increase in the use of smartphones, which is forcing enterprises to expose data to API’s so that there is user experience both for internal and external users. Organizations need an API management solution that provides them with the performance of API’s driven businesses.
The deployment segment has been divided into two types such as the cloud and on-premises. The cloud-based segment will have the highest market size in the forecast period. In the current business environment, Cloud technology uses low-cost integration of the API Management Market system. The cloud-based Global API Management Market is highly scalable and flexible.
Organization Size Segment
The organization segment is bifurcated into Small and Medium-sized Enterprises (SMEs). Large enterprises are expected to will have the highest market size during the forecast period. A large organization can adapt to new technologies easily as compared to SME’s.
Based on the vertical, the market is segmented BFSI, IT and Telecom, BFSI, Government, Manufacturing, Media and Entertainment, Retail, Travel & Hospitality, and Others. BFSI will grow at the highest market size during the forecast period. BFSI is adopting API management solutions to have a secure, flexible, and digital business for banking, insurance, and other domains.
The Global API Management Market is subdivided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America will have the largest market size increase in the forecast period. Furthermore, the increase in the internet of things and digital technologies in US and Canada has led to the rise of market growth. The market in the Asia Pacific is the will to witness at the highest CAGR over the forecast period. The increasing adoption of big data and advanced analytics tools has offered growth of the regional market.
The major players of API Management are Adobe, IBM, Oracle, Red Hat, Software AG, Microsoft, and many more. The Global API Management Market is fragmented with the existence of well-known global and domestic players across the globe.