API Management Market New Business Opportunities & Investment Research Report 2023

Application programming interface (API) stands for a set to protocols, tools, and subroutines that are used to build software applications. Acting as a communication code between software programs, API management enables an organization to monitor the functionalities of the interface and meet the requirements of the application and developers. API management allows traffic monitoring of individual applications and helps in cache memory management to improve the performance of the application. As API Management Market software can either be built in-house by an organization or can be imported from third-party providers, and has become an essential tool for several business vendors to enhance their customer experience. Consequently, the demand in the global API management market is projected to expand at a healthy rate during the forecast period of 2016 to 2024.

This report on the global API management market provides qualitative and quantitative examination of the market in its current scenario and analyzes all the factors that may influence the demand in the near future, to estimate the condition of the market until 2024. This report is meant for audiences such as organizations, network operators, and solution providers, aspiring to serve as a credible document to make more informed business choices. The report contains a dedicated section on company profiles, exploring several prominent players for their market share and product portfolio, in order to present a clear picture of the competitive landscape.

The global market for API management can be segmented on the basis of services into analytics, portal, gateway, governance, security, and other services. By end-use industries, the market can be categorized into aerospace and defense, banking and finance, automotive and transportation, public sector and government, retail and consumer, healthcare and life sciences, and technology and media. Geographically, the report examines the opportunities available for API management market in regions such as North America, the Middle East and Africa, Asia Pacific, Europe, and Latin America.

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Mobility and App proliferation is the primary factor augmenting the demand for API management. With growing number of mobile subscribers, the rise of social media, and penetration of ecommerce, vendors from various sectors can now provide information in interactively to their consumers and thereby increment their sales. The advancements of the Internet of Things and Big Data as well as cost and feature benefits are other two major factor favoring the global API market. Moreover, as API management helps in systematic enforcement of policies and visualization of insightful analytics, the demand is expected to expand to several organizations that desire to expand their productivity.

Conversely, some of the factors expected to challenge the market from attaining its full potential are: data security, legacy investments in SOA, and performance monitoring by skilled professionals. System integrators, digital transformation, and SOA and PaaS integrations are some of the new opportunity avenues available for the players in this market.

Global API Management Market: Regional Outlook

North America and Europe currently serve the maximum demand for API management, owing to high adoptability of new technology. However, several emerging economies in Asia Pacific such as India, China, Japan, and South Korea house several end-use organizations that offer vast untapped opportunities.

Companies mentioned in the research report

Amazon, CA Technologies, RedHat, Apiary.io, Apigee, Stormpath, Telenity, Akana, Axway, Crosscheck Networks, Dell Boomi, Fiorano Software, Inc., IBM, Distil Networks, Mashape, MuleSoft, Nevatech, NGINX Software Inc., Mashery (Tibco), Microsoft, Restlet, SAP, Sapience, Oracle, RepreZen, Socrata, Software AG, and Torry Harris are some of the leading players currently functional in the global API management market.

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