Global API management market is expected to reach million by 2025 and is projected to register a healthy CAGR of 19.3% in the forecast period of 2018 to 2025.
The application programming interfaces (APIs) are a set of protocols, tools and subroutines that are used to develop software applications. These APIs are the intermediate of communication code and software programs, thereby assuring the smooth flow of operations. Further, it helps in monitoring the data of the application, which has become one of the most important parts of the organization. It can be developed by an organization either for internal use or can be purchased from third-party providers. It also offers enhanced customer experience and ensures ease of data management. API management helps in building and publishing web APIs, controlling access of application and also enforces usage policies. Also, it helps in collecting and analyzing the usage statistics as well as provides a report of the performance. The API management includes components such as gateway, publishing tools, reporting and analytics and monetization.
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Market Key Company Analysis:
- Axway,
- Palo Alto Research Center Incorporated,
- Microsoft,
- Rogue Wave Software, Inc.,
- SAP SE, Oracle,
- Red Hat, Inc.,
- CA Technologies, Inc.,
- Fiorano Software and Affiliates,
- Software AG,
- Boomi,
- Inc and others.
Microsoft
Founded in 1975 and headquartered in Redmond, U.S. Microsoft deals in empowering digital transformation for the era of intelligent edge and intelligent cloud. Microsoft focusses on providing Software, PC and Devices, Entertainment, Business, Developer & IT and Others. Its business segment includes API management platform which deals in different products and services. These products include Microsoft Azure and have wide application in retail and consumer goods, government, healthcare, discrete manufacturing and banking and capital market.
The company has its geographic presence in North America, Europe, Asia Pacific, South America and Middle East and Africa. Some of the subsidiaries of Microsoft are Yammer, Skype Technologies, Xamarin, AltspaceVR, Microsoft Studios, Microsoft Research, Microsoft Mobile and among others.
Amazon Web Services, Inc.
Founded in 2006 and headquartered in Seattle, U.S. Amazon Web Services, Inc. offers IT infrastructure services to business commonly known as cloud computing. The company has its subsidiaries and they are Annapurna Labs, AWS Elemental, Sqrrl, Harvest.ai, Peritor GmbH, Amazon Web Services Japan K.K. and others. The company has its geographic presence in U.S., Canada, Asia Pacific, China, Europe, South America. Some of its subsidiaries are Annapurna Labs, AWS Elemental, Sqrrl, Harvest.ai, Peritor GmbH, Amazon Web Services Japan K.K. and others.
- The company deals in various products and solution which comprises of Analytics, AR and VR, Game Development, Internet of Things, Machine Learning, Database, Backup and Restore, Business productivity, Customer Engagement, Mobile Services and many more. Database Automation lies under Database segment as AWS Database Migration Service.
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INTERNATIONAL BUSINESS MACHINES CORP.
Incorporated in 1911 and headquartered in New York, U.S. International Business Machines Corp. is the huge platform for providing cognitive solutions, cloud platform, digital transformation as well as artificial intelligence. The company operates through various segments namely Technology Services & Cloud Platforms, Cognitive Solutions, Global Business Services, Systems, Global Financing and Others.
- The company has been awarded with Manufacturer of the Year 2018, IBM Beacon Awards 2018, RegTech Awards 2018 and others. International Business Machines Corp. has its subsidiaries namely SoftLayer Technologies, Inc., UrbanCode, FileNet, Trusteer and others. The company has its worldwide presence in North America, Latin America, Europe, Middle East and Africa and Asia Pacific.
Market Trends:
- On the basis of type the global API management market is segmented into carbon identity management, maps & location, speech/ voice.
- On the basis of solution the global API management market is segmented into API portal, security, monetization, API gateway, API analytics, API lifecycle management and administration. In 2018, security segment is growing at a specific CAGR.
Restraint:
INCREASING CONCERN ABOUT API SECURITY
The API management solution consumers regularly face threats from the bad bots, hackers and internal threats on their mobile apps software. One of the major challenges that the enterprises are facing is to ensure the complete safety of the data. Due to this reason, Microsoft creates a certification authentication policy that mutually connects the back- end service and API management gateway to solve the malicious API traffic interception.
- In April 2015, according to the Condé Nast Company, major instances of cyber security hacks and software attacks are rising at an alarming rate, more than 120% estimates the number of connected devices through API management gets cyber-attack due to poor coding standards that doesn’t allows integration of API in a perfect ecosystem.
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INCREASING DEMAND OF MOBILE APPLICATION:-
API management solution, along with mobile phones, are leading contributors to the GDP of the country. Many industries in the region such as e-commerce, healthcare, retail, entertainment among others have initiated integrating the API management in mobile Apps. The API management applications in wireless/ automatic communication systems dominates the IT system in commercial and government application such as smart security system, automobile monitoring, military-grade security, precision monitoring of apps and many other applications.
- In December 2016, Software AG (Germany) launched a new version of web methods API Cloud that comprises of streamlined API Gateway, with the help of such solution the enterprises can attain cloud-based API Management service including API developer portal and the API security gateway in a single service. This development will help the company in increasing the product portfolio.. CA Technologies (U.S.) launched a mobile API gateway 4.1 which is beneficial in delivering the developer productivity, seamless security and a great chances to used the IoT (Internet of Things) cloud based application in mobile gateway.
RISING DEMAND OF WEB BASED API MANAGEMENT:-
The web based API management is used to improve the security in updating the software programs by patch security holes and fixing all the bugs. It is also used as web apps, that is built-in for user tracking depicting which figure shows the work is completed and hence determine to update the web programs.The operating system needs to be updated and use the Mac OS or Linux, Window XP or 10 for easy interface.
- According to the report, the employees of 1000 fortune companies around the globe are working from home or any other place, but they access the official work from the web applications that are created through API management. Nowadays, its observed that Quibb web community is created for reading and sharing links to the internet from any place.
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