API Management Market Overview
API management is the process of designing , publishing, documenting, and analyzing APIs in a secure and scalable environment. It involves creating, deploying and managing APIs that can be consumed by developers and third-party applications. API management solutions typically provide features such as traffic management, security, monitoring, and analytics. They allow businesses to control the access to their APIs, monitor API usage, and enforce policies to ensure the API is used in a consistent and secure manner. Many cloud providers offer API management services, including Amazon, Google, and Microsoft Azure.
In 2021, the api security management size was estimated at 3.28 billion USD. From USD 4.52 billion in 2022 to USD 27.32 billion in 2030, the API Management market industry is anticipated to expand at a compound annual growth rate (CAGR) of 25.22 percent (2022-2030).
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The process of publishing, describing, and monitoring application programming interfaces in a safe, scalable environment is known as application programming interface management. Mobility and application proliferation, the rise of social media apps, the demand for both private and public APIs, the popularity of web APIs, the development of the internet of things and big data are some of the key factors driving the growth of the application programming interface management market. Application programming interface management enables a business to publish an API while keeping track of the API lifespan and the requirements of the API developers.
The software for the application programming interface might be created internally or purchased as a service. A programming interface for applications performs a wide range of tasks. These capabilities can include automation and linkages between applications and an application programming interface. This guarantees consistency among various interface apps while concurrently monitoring traffic from various applications. Data security, legacy SOA investments, and performance monitoring by qualified specialists are impeding the market's expansion, nevertheless.
Key Players
The key players of global API Management market report include IBM Corporation (U.S.), Microsoft Corporation (U.S.), Akana, Inc. (U.S.), CA Technologies, Inc. (U.S.), Cloud Elements, Inc. (U.S.), Hewlett-Packard Enterprises Co. (U.S.), Mashape Inc. (U.S.), MuleSoft, Inc. (U.S.), Oracle Corporation (U.S.), RedHat, Inc. (U.S.), SAP SE (Germany), and others are profiled in MRFR Analysis and are at the forefront of competition in the global application programming interface management market.
Regional Analysis:
North America is seeing a surge in the IT sector. Due to technical improvements and the presence of numerous cloud service providers, this area holds the biggest market share. The ability for the company to store, use, and administer the application interfaces remotely made cloud service providers a huge game changer for API management. Additionally, the use of cloud as a service for API management is growing as a result of its flexible pricing. The majority of the major players in this market are integrating APIs into a range of industrial applications, including those for smartphones, healthcare, and even the automotive and transportation industries. However, during the projected period, the Asia Pacific region is anticipated to grow at a rate comparable to that of Europe.
Market Segmentation:
Segmentation by Component: Solution, Services (training, consulting, integration, security & maintenance).
Segmentation by deployment: Cloud based, on premise
Segmentation by region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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According to Market Research Future (MRFR), the global API management market is expected to reach approximately USD 3 BN by 2022, registering a whopping 35% CAGR throughout the review period (2016 – 2022).
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2429Global API Management Market –SegmentsThe report is segmented into four dynamics;By Component : Solutions and Services.
Besides, the presence of many industry players and futuristic infrastructure in the region drives the market growth, bringing about advanced API platforms.
Moreover, the increasing digitization of business processes, technological advances, and organizations' focus on adopting business intelligence solutions boost the growth of the API management market in the region.Europe stands second in the global API management market.
Additionally, the rapidly developing digital technology and increasing demand for API management solutions for business intelligence positively impact regional market growth.
Factors such as the broader acceptance of cloud-based solutions and emerging technologies such as the internet of things (IoT), big data, and analytics drive the regional market growth.
