Global API Management Market to Grow at 22% CAGR till 2024
Increasing demand for
managing API traffic to promote adoption of API management, globally, through
2024
According
to TechSci Research report, “Global
API Management Market By Component, By Deployment Mode, By Organization
Size, By End User, By Region, Competition, Forecast & Opportunities, 2024”, global API management market is projected to grow at a
CAGR of 22.4% during 2019-2024, as it allows traffic monitoring of
applications and assist in cache memory management so as to improve the
performance of applications. Moreover, growing demand for public and private
APIs along with surging prevalence of web APIs is further expected to bolster
the growth of the market through 2024.
Browse 20 market data Tables and 108 Figures spread
through 110 Pages and an in-depth TOC on "Global API
Management Market "
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Global
API management market can be segmented based on component, deployment mode, organization
size, end user and region. Based on the component, solution segment dominated global
API management market in 2018, on account of surging demand for integrating
systems and components with applications and devices. Based on the deployment
mode, cloud segment is expected to register fastest growth during the forecast
period, owing to its low cost and improved mobility. Global API management
market caters to various end user industries such as BFSI, IT & Telecom,
government, healthcare, retail and others. In 2018, BFSI emerged as the largest
segment in the market and the end user is expected to maintain its leading
market position in coming years, as more and more enterprises are adopting API
solutions to streamline their digital businesses.
Software AG, International Business Machine Corporation, SAP SE, Red Hat
Inc. and CA Technologies are some of the leading players operating in global API
management market. Companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their
share. In 2018, Software AG launched cloud enterprise platform to scale up their middleware, and data and
analytics cloud products.
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“North America accounted for the largest market share in global API
management market in 2018 and the trend is likely to continue in the coming
years as well, on account of presence of large pool of service providers
offering cloud-based solutions in developed economies such as Canada and US.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global API Management Market By Component, By
Deployment Mode, By Organization Size, By End User, By Region, Competition,
Forecast & Opportunities, 2024” has evaluated the future growth potential of global API
Management market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global API Management market.
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