The global API Management will grow at a CAGR of 29% with market size of around USD 21.68 billion by 2028. The digital revolution and the need to understand customers are increasing which in turn is leading to the growth of the market for API Management. Furthermore, in the COVID-19 pandemic customers are finding ways to connect to the companies through various applications such as laptops, tablets, smartphones, and other devices. To share content among organizations through various applications, the programming interface is developed through the help of APIs.
API management has a set of processes through which organizations can have control and transparency in API’s that are essential in connecting data and applications across enterprises and the cloud. API management helps in creating, securing, managing, scaling, and analyzing APIs to internal and external developers.
With the increase in the implementation of several apps and smart devices in the digital world, businesses are exposing data through APIs, so that customers have good experience in user experience. Furthermore, API helps in increasing usability, reduces overhead, provides automated infrastructure, and helps in offering easy maintenance.
The API Management market is bifurcated into North America, Europe, APAC, Middle East & Africa, and South America. North America is estimated to have the highest market size with the presence of global players in the region.
The major players of API Management are Adobe, IBM, Oracle, Red Hat, Software AG, Microsoft, and many more. Furthermore, the API Management market is divided into players across the globe.
Segment Overview of API Management Market
Component Overview, 2018-2028 (USD Billion)
- API Platform
- API Portal
- API Gateway
- API Administrations
- API Monetisation
- 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