API Management Market by Solution (API Portal, Security, Monetization, API Gateway, API Analytics and Administration) by Service (Training & Consulting, Support & Maintenance and Integration) by Deployment Type (On-Premises and Cloud) by Market for BFSI, IT & Telecom, Government, Healthcare, Retail & Consumer Goods, Manufacturing and Others Industries: Global Industry Perspective, Comprehensive Analysis and Forecast, 2019- 2022
Wiseguyreports.Com Adds “API Management – Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2022” To Its Research Database.
The report analyzes and forecasts API management market on a global and regional level. The study offers past data of 2016 along with forecast from 2017 to 2022 based on revenue (USD Million). Estimation of market dynamics gives a brief thought about the drivers and restraints for the API management market along with the impact they have on the demand over the analysis period. Additionally, the report includes the study of opportunities available in the API Management market on a global level.
Application Programming Interface, also called API, means a set of tools, subroutines, and protocols, which are employed to develop software applications. This acts as a communication code between various software programs and lets the companies monitor the process of application development. Besides, it enables traffic monitoring of individual applications. API management tools can be developed in-house or can be purchased from the vendors to boost the customer experience. The experts have predicted that during the forecast period, the global API Management Market will grow at a higher CAGR.
The requirement to manage the function of the APIs to decode that data of different systems in order to keep it functioning for the other section of the company or third-party is considerably propelling the growth of the global API Management Market. On the other side, the growing need for the governance for application programming interface is also triggering the demand for API management solutions, which is affecting the global market positively. The rise in application development is also a primary driving factor for this market.
The considerable rise in the popularity of web application programming interface, along with the rising demand for private as well as public APIs, are expected to trigger the market toward the growth in the coming years. Furthermore, the mobility of API solutions and application explosion are also projected to positively drive the market during the forecast period. It has been observed that all the key players are now investing more in developing new API technologies, which is also driving the global market. As per the market experts, the global market for API Management is expected to grow at around 5 percent of CAGR.
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Global Market Segmentation Analysis
The global API Management Market is segmented on the basis of solution, services, deployment, application, or end-users, and regions. Based on the solution, the market is segmented into API security, API portal, monetization, API Analytics, API Gateway, and administration. Among these, API security is expected to dominate the market. Coming to the service- based market segmentation, it includes training consulting, integration, and support maintenance. On the basis of deployment type, it is split into cloud and on-premises. The demand for cloud-based API deployment is anticipated to rise in future. Considering the end-user or application, it is divided into manufacturing BFSI, IT Telecom, Healthcare, Government and others.
Regional Market Segmentation Analysis
The API Management Market, based on region, is segmented into the Middle East and Africa, South America, North America, Asia Pacific, and Europe. Well, the report also covers some major country-level markets. The countries whose market analysis information includes in this report are China, Japan, India, the United States, the UK, Korea, Russia, Italy, France, Germany, Indonesia, GCC Countries, Brazil, and others. As per the market experts, the North America market witnessed the largest market share in 2018 due to the massive technological advancement. So, this region will again dominate the market in the coming years. The Asia Pacific region will also enjoy faster growth.
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Recently, Tibco Software introduces its new and upgraded API solution software for better API management, which can be used by different sectors. The company is now investing in some new technologies and will be integrated soon on the platform. Besides, Ovum has announced Tibco Software as a market leader in hybrid integration.
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