DUBLIN--(BUSINESS WIRE)--The "API Management Market by Solution (API Platform, API Analytics, API Security), Service (Integration and Implementation, Consulting, Support and Maintenance, Training), Deployment Type, Organization Size, Industry & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global Application Programming Interface (API) management market is expected to grow from USD 1.2 billion in 2018 to USD 5.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 32.9% during the forecast period.
The API management market is driven by various factors, such as demand for API-led connectivity, and API management solution powered with API analytics to streamline various stages of API life cycle. However, poor API security and governance can hinder the growth of the market.
Major vendors offering API management solution and services across the globe include IBM (US), Google (US), Oracle (US), Red Hat (US), Software AG (Germany), Axway (US), MuleSoft (US), Microsoft (US), SAP SE (Germany), AWS (US), CA Technologies, a Broadcom company (US), TIBCO (US), Kony (US), Rogue Wave Software (US), Sensedia (Brazil), Torry Harris Business Solutions (US), Tyk Technologies (England), WSO2 (US), Osaango (Finland), Dell Boomi (US), and Postman (US).
The study includes an in-depth competitive analysis of these key players in the API management market, with their company profiles, recent developments, and key market strategies.
Retail and consumer goods segment to grow at the highest CAGR during the forecast period
With time, many retail organizations have deployed a mix of technologies, computer systems, and disparate applications to cater to the growing demands of customers. Customer experience proves to be a very vital differentiating factor among a wide array of online shopping options.
Online retailers risk losing out on their users, because of negative customer experience. Hence, retailers around the globe are formulating API strategies that not only help them reach customers in new ways but also help them build internal APIs for streamlining business operations. API management solution enables retailers to offer eCommerce services, on different digital channels, to deliver omni-channel experience to their customers.
Integration and implementation services segment to hold the highest market share during the forecast period
Integration and implementation services provide ease to organization in deploying API management solutions and accelerating digital transformation. These services ensure organizations that mission-critical applications would be integrated effortlessly with their internal and external systems and they would get the most out of investments made on API infrastructure.
Connectivity between digital assets and maintaining the security of these assets are of prime importance for any organization. System integrators help enterprises understand the operational functionalities of their existing systems and establish reliable connectivity between data, people, apps, and devices.
APAC to record the highest growth rate during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period, due to the increase in demand for API management solution and services. Growing economies in countries, such as China, Japan, Australia and New Zealand, and India, provide huge opportunities for the adoption of the API management solution and services in the APAC region. Meanwhile, North America is projected to hold the largest market size during the forecast period.
Key Topics Covered
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency Considered
2 Research Methodology
2.1 Research Data
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Assumptions for the Study
2.6 Limitations of the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the API Management Market
4.2 API Management Market, By Industry and Country (2018)
4.3 API Management Market: Major Countries
5 Market Overview and Industry Trends
5.3 Lifecycle of API
5.4 Types of API
5.5 Case Study 1: Mulesoft
5.6 Case Study 2: Red Hat
5.7 Technology Trends and Standards
5.7.2 Standards and Guidelines for API Management
188.8.131.52 Oauth 2.0
184.108.40.206 OData (Open Data Protocol)
220.127.116.11 Distributed Management Task Force (DMTF)
18.104.22.168 Telecommunication Industry Association (TIA)
5.8 Market Dynamics
22.214.171.124 Growing Demand for API-Led Connectivity
126.96.36.199 Need for Public and Private APIs to Accelerate Digital Transformation
188.8.131.52 API Security and Governance to Restrain the Growth of the API Management Market
184.108.40.206 API Management Solutions Powered With Advanced Analytics Capabilities
220.127.116.11 Low-Code Platform for API Development
18.104.22.168 Dearth of Skilled Developers Required for Developing and Implementing API Management Solutions
6 API Management Market, By Component
7 API Management Market, By Deployment Type
8 API Management Market, By Organization Size
8.2 Small and Medium Enterprises
8.3 Large Enterprises
9 API Management Market, By Industry
9.2 Banking, Financial Services and Insurance
9.3 IT and Telecom
9.5 Healthcare and Life Sciences
9.6 Retail and Consumer Goods
9.7 Media and Entertainment
9.8 Travel and Transportation
10 Geographic Analysis
10.2 North America
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 Latin America
11 Competitive Landscape
11.2 Competitive Scenario
11.3 Microquadrant Overview
12 Company Profiles
12.2 CA Technologies
12.8 Red Hat
12.10 Software AG
12.11 Tibco Software
12.12 Amazon Web Services
12.13 Dell Boomi
12.17 Rogue Wave Software
12.19 Torry Harris Business Solutions
For more information about this report visit https://www.researchandmarkets.com/research/867tbk/global_5_1bn_api?w=4