API management is the process of designing, publishing, documenting and analyzing APIs in a secure environment. Through an API management solution, an organization can guarantee that both the public and internal APIs they create are consumable and secure. API management is becoming an increasingly important solution for every enterprise. Any organization that uses APIs or depends on them to deliver services should have a unified API management solution. API has been used as a tool to access data through mobile applications, the Internet of Things (IoT), and cloud platforms. APIs enable a company to safely expose its data or services both inside and outside the company. The process of designing, distributing, publishing, controlling, and analyzing APIs is referred to as API management. A developer portal, an API gateway, API lifecycle management, and analytics are all part of an API management solution. API Management is a set of cycles that allow organizations to gain control and transparency over APIs, which are critical for integrating data and applications across projects and the cloud.
The functions of the API market that are connected to publishing, documenting, and managing the application programming interfaces are covered in the Global API management Market research. These are used to get access to a secure environment. All of these things work together to form API management. The API management market's major goal is to enable and help a company that publishes an API to track the lifecycle of that interface. The approaches to cater to the needs of developers are also an important aspect of how the market works.
The key impacting factors of the API management market are demand for public and private APIs to accelerate digital transformation, increased mobile applications and users, and social media penetration. These factors have significantly contributed to the growth of API management market, and are anticipated to impact the market growth during the forecast period.
The API management market is segmented on the basis of component, deployment type, organization size, industry vertical and region. Based on component, it is segmented into solutions and services. By deployment type, it is divided into on-premises and cloud. Based on organizational size the market is segmented into SMEs and large enterprises. Based on industry vertical, the market is categorized into BFSI, IT and telecom, government, healthcare and life sciences, retail and consumer goods, manufacturing, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Key players operating in the market include Amazon Web Services (AWS), Axway, Google, IBM, Microsoft Corporation, Oracle Corporation, Red Hat, SAP SE, Software AG, and TIBCO.
The functions of the API market that are connected to publishing, documenting, and managing the application programming interfaces are covered in the Global API management Market research. These are used to get access to a secure environment. All of these things work together to form API management. The API management market's major goal is to enable and help a company that publishes an API to track the lifecycle of that interface. The approaches to cater to the needs of developers are also an important aspect of how the market works.
The key impacting factors of the API management market are demand for public and private APIs to accelerate digital transformation, increased mobile applications and users, and social media penetration. These factors have significantly contributed to the growth of API management market, and are anticipated to impact the market growth during the forecast period.
The API management market is segmented on the basis of component, deployment type, organization size, industry vertical and region. Based on component, it is segmented into solutions and services. By deployment type, it is divided into on-premises and cloud. Based on organizational size the market is segmented into SMEs and large enterprises. Based on industry vertical, the market is categorized into BFSI, IT and telecom, government, healthcare and life sciences, retail and consumer goods, manufacturing, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Key players operating in the market include Amazon Web Services (AWS), Axway, Google, IBM, Microsoft Corporation, Oracle Corporation, Red Hat, SAP SE, Software AG, and TIBCO.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the api management market analysis from 2021 to 2031 to identify the prevailing api management market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the api management market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global api management market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Deployment Types
- On-premises
- Cloud
By Organization Size
- SMEs
- Large enterprises
By Component
- Solutions
- Services
By Industries
- Government
- Healthcare
- Retail
- Manufacturing
- Others
- BFSI
- IT and telecom
By Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- IBM
- Oracle
- Red Hat
- Software AG
- Axway
- TIBCO
- Amazon Web Services
- Microsoft Corporation
- SAP SE
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: API MANAGEMENT MARKET, BY COMPONENT
CHAPTER 5: API MANAGEMENT MARKET, BY DEPLOYMENT TYPES
CHAPTER 6: API MANAGEMENT MARKET, BY ORGANIZATION SIZE
CHAPTER 7: API MANAGEMENT MARKET, BY INDUSTRIES
CHAPTER 8: API MANAGEMENT MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “API Management Market," the api management market was valued at $2.2 billion in 2021, and is estimated to reach $41.5 billion by 2031, growing at a CAGR of 34.5% from 2022 to 2031.The global API Management Market Growth is influenced by a number of factors, including demand for Public and Private APIs to Accelerate Digital Transformation, increased mobile applications and users, social media penetration.
In 2021, on the basis of component, the solutions segment dominated the API Management Industry in 2021, and is expected to maintain its dominance in the upcoming years. Moreover, businesses must disclose more data through APIs to create rich, personalized app experiences for internal users, customers, and partners, as the number of apps and smart devices required in the digital world grows exponentially. Organizations across all industries require a strong life cycle API Management Software solution that allows them to track the success of their API-driven enterprises. The API management market is divided into three segments: API platform, API analytics, and API security. API Management Software solutions are in high demand because enterprises need to seamlessly link their systems and components with apps and devices.
On the basis of industry vertical, the IT and telecom segment dominated the API Management market in 2021, and is expected to maintain its dominance in the upcoming years. The market is likely to benefit from increased adoption of the Internet of Things (IoT), device integration, and wearable devices in the telecom industry. However, the healthcare segment is expected to witness the highest growth rate during the forecast period, as API is built within healthcare organizations to increase interoperability, efficiency, or analytics visibility of applications, services, or digital tools.
On the basis of organization size, the large enterprises segment dominated the API Management market in 2021, and is expected to maintain its dominance in the upcoming years, as large businesses increasingly depend on software-based services to generate revenue, the creation and maintenance of APIs has become a major part of business strategy. However, the SMEs segment is expected to witness the highest growth rate during the forecast period, SMEs will be able to obtain a greater number of electronic invoices and technology upgrades. This will make working more convenient. This is also gaining traction in mid-sized businesses.
Post COVID-19, the API Management market size is estimated to grow from $2,215.1 million in 2021 to reach $41,460.6 billion by 2031, at a CAGR of 34.5%. The COVID-19 outbreak has low impact on the growth of API management market, as the adoption of API management solutions has increased in the face of unprecedented circumstances. The ongoing pandemic has caused social stress and economic devastation throughout the world. Countries' unemployment rates have risen because of the closure of production facilities and manufacturing units around the world. In addition, outburst effects of COVID-19 are leading countries, as well as the global economy towards recession. However, the world markets, on the other hand, are gradually opening up to their full potential, and demand for solutions and services is witnessing growth. The adoption of API management is increasing significantly after COVID, due to surge in digitalization, increase in sales of smartphones and WFH policies. Post COVID-19 impact, the penetration of API managements has increased significantly as they offers several advantages such as public and private APIs that is accelerating digital transformation. The COVID-19 pandemic has had no negative influence on the market growth, it is expected to give several chances for market expansion during the forecast period. Significant investments for strong customer connectivity and API technologies in both developing and developed economies is anticipated to drive the demand for the API management market.
Key Findings of the Study
- On the basis of component, in 2021, the solution segment dominated the API management market size. However, the services segment is expected to exhibit significant growth during the forecast period.
- Depending on industry vertical, the IT & telecom segment generated highest revenue in 2021.
- On the basis of organization size, the large enterprises segment generated the highest revenue in 2021. However, the small & medium enterprises segment is expected to exhibit significant growth during the forecast period
- On the basis of region, North America dominated the market in 2021. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
- Some of the key API management industry players profiled in the report include Amazon Web Services (AWS), Axway, Google, IBM, Microsoft Corporation, Oracle Corporation, Red Hat, SAP SE, Software AG, TIBCO. This study includes API management market share, API Management Market Trends, API management market analysis, and future estimations to determine the imminent investment pockets.
Companies Mentioned
- Ibm
- Oracle
- Red Hat
- Software AG
- Axway
- Tibco
- Amazon Web Services
- Microsoft Corporation
- Sap Se
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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