What is Application Program Interface as a Service?
Application Program Interface is an intermediary which interconnects two different applications, allowing them to work together. This allows the two applications to pass on information, commands and how to implement those commands. API as a service market is expected to grow over the coming years, as companies look to deviate from small applications to integrated cloud based solutions. Increasing investments in development of software solutions has led to growth of API as a service market in the recent years. Cloud based API services are expected to grow exponentially because of increasing adoption of cloud computing solutions and lower costs associated with. Geographically, North America is the largest market of application program interface as a service.
The market study is broken down by Type (API platform, API analytics, API security and Others) and major geographies with country level break-up.
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Google LLC (United States), Oracle Corporation (United States), IBM Corporation (United States), SAP SE (Germany), Microsoft Corporation (United States), Idera, Inc. (United States), CA Technologies (United States), EPAM Systems, Inc. (United States), Red Hat, Inc. (United States) and HCL Technologies Limited (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are TIBCO Software Inc. (United States), CA Technologies (United States) and R Software Inc. (United States).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Application Program Interface as a Service market by Type, Application and Region.
On the basis of geography, the market of Application Program Interface as a Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. BFSI will boost the Application Program Interface as a Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size , the sub-segment i.e. Large Enterprises will boost the Application Program Interface as a Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment , the sub-segment i.e. On Cloud will boost the Application Program Interface as a Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2021, Idera, Inc., a provider of b2b software solutions with specialisation in database tools has announced acquisition of Apilayer, which is a provider of cloud based B2b API solutions. The acquisition will benefit Idera to better serve its myriad business and expand its capabilities in coming revolution of APIs.
Market Trend
- Cloud Based Solutions are expected to Experience Exponential Growth Compared to Other Deployment Model due to Lower Costs of Implementation
Market Drivers
- Increasing Investments in Development of Different Software Solutions
- Demand for API based Inter-Connectivity is growing
Opportunities
- SMEs based in BFSI Industry Provide Huge Untapped Prospects in this Market
Restraints
- Data Security will emerge as a Major Constraint in the Growth of the API as a Service Market
Challenges
- Lack of IT and related Infrastructure in Developing Countries especially placed in Africa
Key Target Audience
Application Program Interface as a Service Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.