Global API management market stood at $ 1.1 billion in 2018 and is projected to grow at a CAGR of over 22% during 2019-2024 to reach $ 3.6 billion by 2024, on account of increasing demand for modern application programming interface (API) to connect various applications and devices. Growing need to decode data of enterprises so that it can be used by other sections of the organizations is boosting the growth of the market. Application programming interface (API) management can be defined as the process of publishing, documenting and overseeing application programming interfaces in reliable and secure environment. Advancement of Internet of Things and big data and rising demand to manage API traffic is anticipated to propel global API management market through 2024.
Global API management market can be segmented based on component, deployment mode, organization size and end-user. In terms of component, the market can be bifurcated into solutions and services. API management solutions can be deployed on-premise and cloud. On account of reduced cost with high scalability and flexibility to access solutions, there is a steep increase in the adoption of cloud-based deployment among organizations and the trend is likely to continue in the forthcoming years. Based on the organization size, global API management market can be classified into small and medium enterprise (SME) and large enterprise. Surging need for streamlining API connections is driving the demand for API management solutions among large enterprises.
Regionally, the market for API management is gaining traction and expanding to various regions including North America, Europe, Asia-Pacific, Middle East & Africa and South America. In 2018, North America, followed by Europe, dominated global API management market and the trend is likely to continue during forecast period as well. This is due to the early adoption of technologies such as IoT, big data, analytics and cloud and presence of leading players in the regions.
Major players operating in global API management market include Software AG, International Business Machine Corporation, SAP SE, Red Hat Inc., CA Technologies, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2018, RedHat Inc. acquired software developing company, Noobaa, to manage data storage services across multi-cloud environments.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020–2024
Objective of the Study:
- To analyze and forecast global API management market size.
- To classify and forecast global API management market based on component, deployment mode, organization size, end-user and regional distribution.
- To identify drivers and challenges for global API management market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global API management market.
- To conduct pricing analysis for global API management market.
- To identify and analyze the profile of leading players operating in global API management market.
Some of the leading players in global API management market include Software AG, International Business Machine Corporation, SAP SE, Red Hat Inc., CA Technologies, etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels and presence of all major service providers across the globe.
TechSci Research calculated global API management market size by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- API Management service providers
- Research organizations and consulting companies
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to API Management
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global API management market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Component:
Support & Maintenance
Training & Education
- Market, by Deployment Mode:
- Market, by Organization Size:
o Small & Medium Sized Enterprises
o Large Enterprises
- Market, by End User:
o IT & Telecom
- Market, by Region:
o North America
o Asia Pacific
o Middle East & Africa
o South America
Company Profiles: Detailed analysis of the major companies present in global API management market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).