Description
Global API Management Market: by Solution (API Security, API Platform, and API Analytics), by Service (Training, Support, and Maintenance, Consulting, Integration, and Implementation), by Deployment (On-premises and Cloud), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)
The API management market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive market analyses, capturing all aspects of the API management market.
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API Management Industry Outlook
The API management market size is expected to register a 7.9% CAGR during the forecast period, 2021-2027. Application program interface (API) management is a set of processes that can design, publish, document, and analyze APIs in a secure environment. It can also distribute, control, and explore various APIs that link applications and data across enterprise and clouds. Organizations can guarantee that the created public and internal APIs are consumable and secure through an API management solution.
Factors Affecting the API Management Industry over the Forecast Period
- The rising need for APIs to boost digital transformation has significantly helped in the market growth. The growing connectivity using smartphone experience and social media has witnessed a change in customer habits, and therefore, it is the driving factor of the API management market.
- Various threats and vulnerabilities are associated with API, and it might act as a restraining factor for the growth of the API management market.
- Cloud-based services decrease the general expenses while giving profoundly adaptable and versatile admittance to arrangements. Organizations are conveying API the board arrangements on the cloud to improve portability and quicken the API advancement cycle.
Impact of COVID-19 on API Management Market
The outbreak of the COVID-19 pandemic has considerably affected the global API management market. As the market witnessed a positive growth in the initial months of 2020 and later, it shows an exponential growth due to an increase in the installation of API management software in small-scale enterprises to adapt to the change in the COVID-19 pandemic.
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Scope of the Report
The report outlines the global API management market study based on material, service, and deployment.
Based on the material, the API management market has been segmented into –
- API Security
- API Platform
- API Analytics
Based on the service, the API management market has been segmented into –
- Training
- Integration and Implementation
- Support and Maintenance
- Consulting
Based on the deployment, the API management market has been segmented into –
- On-premises
- Cloud
API Management Market: Regional Outlook
Based on the region, the global API management market has been segmented into five geographical regions: Asia Pacific, South America, North America, Europe, and the Middle East, and Africa. North America is estimated to dominate the global API management market during the forecast period due to the high adoption of new technology in this region. Moreover, Asia Pacific is anticipated to project a healthy CAGR in the global API management market over the forecast period.
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API Management Market Key Competitors Includes –
The API management market is fairly consolidating, with a large number of small players across the globe. The key API management market manufacturers operating in the global market are –
- Google Inc.
- Red Hat
- Axway Inc.
- Oracle Corporation
- Software AG
- Microsoft Corporation
- Rogue Wave Software
- Tyk Technologies
- SAP SE
- AWS
- MuleSoft
- Torry Harris Business Solution
The API management market report provides a thorough analysis of macro-economic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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