About API Management
API management is the process of designing, documenting, publishing, and analysing APIs in a secure environment. Through an API management solution, the organization can guarantee that both the internal and public APIs they create are consumable and secure. The primary goal of API management is to allow organizations that either utilize or public an API to monitor the interfaces lifecycle and ensure the needs of applications and developers using the API are being met. As the dependency of businesses has increased on APIs, thereby demand for API management has boosted in recent decades.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 34.8% |
There are some prominent players have adopted organic and inorganic strategies in order to achieve leading market share. MuleSoft, Apigee, Apiary, among others have adopted innovative technologies in order to achieve higher standards with security. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global API Management market throughout the forecasted period. 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.
Akana, Inc. (United States), Mulesoft, Inc. (United States), Apiary, Inc. (United States), Axway, Inc. (France), CA Technologies, Inc. (United States), Cloud Elements, Inc. (United States), Dell Boomi, Inc. (United States), Google, Inc. (United States), IBM Corporation (United States), Microsoft Corporation (United States) and Oracle Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Digitalml. (United States), Fiorano Software, Inc. (United States), Hewlett Packard Enterprises Co. (United States), Mashape Inc. (United States), Nexright (Australia), Red Hat, Inc. (United States), SAP SE (Germany), Sensedia (Brazil), Snaplogic, Inc. (United States), Software AG (Germany), Tibco Software, Inc. (United States), Torry Harris Business Solutions, Inc. (United States), TYK Technologies Ltd. (United Kingdom) and WSO2, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global API Management market by Type (On-premises and Cloud-based), Application (Large Enterprises and Small and Medium Enterprises) and Region.
On the basis of geography, the market of API Management 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). North America region held largest market share in the year 2022. Asia-Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Industry, the sub-segment i.e. BFSI will boost the API Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. SMEs will boost the API Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. On Premise will boost the API Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Training and Consulting will boost the API Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Solutions will boost the API Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solution, the sub-segment i.e. API Portal will boost the API Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Mobility and App proliferation is the primary factor augmenting the demand for API management., Mobile subscribers have been growing, and vendors are using social media to sell their products. and The advancements of the Internet of Things and big data.
Market Growth Drivers:
Growing demand for private and public APIs, Growing popularity of web APIs and Increasing number of mobile device users
Challenges:
Server availability constraints
Restraints:
API security issues
Opportunities:
Increasing adoption of IoT
Market Leaders and their expansionary development strategies
On 28 Nov. 2016, Rogue Wave Software announced the acquisition of Akana, a leader in developing, managing, and securing application programming interfaces (APIs). As businesses look to further connect with their customers and partners, strength in API governance, integration, and ease of accessing legacy applications are increasingly part of the digital transformation.
On 12th July 2018, Google has announced its partnership with Informatica to provide the enterprises with API management solutions which will aid them to easily connect applications and services across multi-vendor cloud and on-premises environments.
Key Target Audience
API management vendors, CSBs, Application development platform providers, Managed Service Providers (MSPs), CSPs, System integrators, Consultancy firms/advisory firms and Investor and venture capitalists
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 a 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 the purpose to understand the companies positioning regarding the 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 a 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, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.