Global API Management Market Report 2022-2027 - Increasing Demand for Data Analytics and Automation to Drive Demand
Global Application Programming Interface (API) Management Market
Dublin, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The "Global API Management Market by Component (Solutions and Services), Deployment Type (On-premises, Cloud), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, IT & Telecom, and Retail & Consumer Goods) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The API management market size is expected to grow from USD 4.5 billion in 2022 to USD 13.7 billion by 2027, at a CAGR of 25.1% . The increase in SaaS and hybrid deployments is boosting the growth of API management market.
API security solutions to grow at a higher CAGR during the forecast period
API security is a way of protecting APIs from external or internal cyberattacks. As APIs are very frequently used and enable access to sensitive software functions and data, they are becoming the main target for hackers and attackers. API security is a core component of modern web application security. Thus, API security solutions support regulatory compliance, and enhanced API security is necessary to develop, deploy, manage, and operate APIs.
Retail & consumer goods industry vertical to hold second largest market share in 2022
APIs are driving every aspect of retail transformation, from improving customer experiences to store operations. API is a critical technology that enables retailers to transform their IT infrastructure and systems. It has provided retailers access to their remote customers with services, such as online orders, pick-up, order deliveries through delivery partners, and personalized recommendations while shopping online.
Europe to hold a significant market share of API management market in 2022
Europe is expected to hold the second-largest market share of the API management market. The UK, Germany, France, and the rest of Europe are considered to study the API management market. The increasing competition among organizations and the growing adoption of digital initiatives are compelling organizations to adopt the API technology.
Premium Insights
Increasing Demand for Data Analytics and Automation to Drive Demand for Market
Solutions Segment to Account for Larger Market Share During Forecast Period
API Platform Segment to Account for Largest Market Share During Forecast Period
Integration & Implementation Segment to Account for Largest Market Share During Forecast Period
On-Premises Deployment Type to Account for Larger Market Share by 2027
Large Enterprises Segment to Account for Larger Market Share During Forecast Period
Banking, Financial Services, and Insurance Vertical to Account for Largest Market Share During Forecast Period
Asia-Pacific to Emerge as Best Market for Investment in Next Five Years
Market Dynamics
Drivers
Growing Utilization of Data-Driven Decision-Making
Automation and Customization to Streamline Workflow
Growing Need for APIs to Increase Digital Transformation
Restraints
Lack of Skilled Professionals for Implementing Api Management Solutions
Opportunities
Low-Code Api Development Platforms
Api Management Platforms with Advanced Analytics Capabilities
Challenges
Introduction of Multi-Cloud Api Management
Development in Api Governance and Portfolio
Case Study Analysis
Case Study 1: Mulesoft Accelerated Smcp Group's Delivery Through Business Automation
Case Study 2: IBM Simplified Customer Transactions of Rbl Bank by Reducing Technology Costs
Case Study 3: Lindsay Fox Made Logistics Smarter with Customer-First Integration of Software Ag
Case Study 4: Ws02 Provided Fully Connected Experience for Customers of Qantas
Case Study 5: Red Hat Streamlined Api Management of Weathernews Inc to Meet Weather Demand
Technology Analysis
Internet of Things
Data Analytics
Artificial Intelligence
Emerging Trends in Market
Major Ycc Trends to Drive Future Revenue Prospects in Api Management
Patent Analysis
Number of Patents Published, 2012-2022
Top Five Patent Owners (Global)
Top Ten Patent Applicants (United States)
Market - Patents Granted to Api Management Solution Providers
Company Profiles
Key Players
Google Inc.
IBM
Amazon Web Services
Microsoft
Mulesoft
Akamai Technologies
Wso2
Broadcom
Axway
Tibco Software
Oracle
Software Ag
Red Hat
Sap
Other Players
Torry Harris Business Solutions
Sensedia
Postman
Workato
Boomi
Kong Inc.
Tray.Io
Smes/Startups
Tyk Technologies
Openlegacy Technologies
Dreamfactory Software
Teejlab, Inc.
Nevatech, Inc.
Prestoapi
Stoplight
Gravitee Topco Limited
Solo
Krakend
For more information about this report visit https://www.researchandmarkets.com/r/m66g3i
Attachment
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
