Api Management Market
PUBLISHED: 2024 ID: SMRC25064
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Api Management Market

API Management Market Forecasts to 2030 - Global Analysis By Component (Solution, Services and Other Components), Organization Size (Large Enterprises and Small and Medium Enterprise), Deployment Type, Application, End User and By Geography

4.1 (43 reviews)
4.1 (43 reviews)
Published: 2024 ID: SMRC25064

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $5.72 BN

Projected Year Value (2030)

US $30.65 BN

CAGR (2023 - 2030)

27.10%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global API Management Market is accounted for $5.72 billion in 2023 and is expected to reach $30.65 billion by 2030 growing at a CAGR of 27.10% during the forecast period. API management is a set of processes and tools that facilitate the creation, documentation, deployment, and monitoring of application programming interfaces (APIs) in a systematic and efficient manner. It involves defining access policies, security measures, and usage limits to ensure controlled and secure access to APIs. API management also includes features like analytics and reporting to track API usage, identify trends, and optimize performance. This centralized approach streamlines the management of APIs, enabling organizations to enhance developer productivity, enforce security protocols, and gain insights into API usage patterns.

According to Our World in Data (OWID), it is estimated that more than two-thirds of the world's population will live in urban areas by 2050. By 2050, the global population is estimated to increase to around 9.8 billion, and more than twice as many people in the world will be living in urban (6.7 billion) than in rural areas (3.4 billion).



Market Dynamics: 

Driver: 

Growing adoption of cloud services

Cloud-based applications and services often rely on APIs to facilitate communication and data exchange between different software components. As organizations increasingly migrate their operations to the cloud, the need for efficient API management becomes paramount to ensuring seamless integration, scalability, and security. API management solutions enable businesses to effectively govern, monitor, and secure the APIs that connect their cloud-based applications, supporting the overall agility and flexibility of their digital ecosystems. Consequently, the surge in cloud adoption propels the demand for robust API management tools, driving growth in this market.

Restraint:

Lack of standardization

The standardization restraint in the API management market refers to the challenge posed by varying industry standards and protocols. As organizations adopt diverse technologies and platforms, the lack of uniformity in API specifications can hinder seamless integration and interoperability. This inconsistency complicates the management of APIs, making it challenging for businesses to establish a standardized approach. The absence of a universal set of standards may lead to increased complexities in API development, deployment, and maintenance. To overcome this restraint, industry stakeholders must collaborate to establish and adhere to standardized API protocols.

Opportunity:

Monetization opportunity

The API management market presents a lucrative monetization opportunity by enabling businesses to capitalize on the growing demand for seamless connectivity and digital integration. As organizations increasingly rely on APIs to facilitate communication between diverse applications and systems, API management solutions offer essential tools for centralizing, securing, and optimizing API usage. Vendors in this market can monetize by providing comprehensive API management platforms that streamline development, enhance security, and improve overall operational efficiency. Additionally, as businesses seek to leverage APIs for innovative services and partnerships, API management solutions become integral for creating new revenue streams. 

Threat:

Over-reliance on APIs

Over-reliance on APIs poses a significant threat as organizations become increasingly dependent on external interfaces for data exchange and functionality. This vulnerability arises from potential security breaches, data privacy concerns, and service disruptions if APIs are not adequately managed and protected. A surge in API usage without proper governance may lead to unauthorized access, data leaks, and overall system vulnerabilities. Hence, the API management market faces the challenge of ensuring robust security measures, effective monitoring, and comprehensive governance to mitigate the risks associated with an over-reliance on APIs and sustain the trust of users and stakeholders.

Covid-19 Impact: 

The COVID-19 pandemic has significantly impacted the API management market, driving an increased demand for digital transformation. As organizations accelerated their shift towards remote work and online operations, their reliance on APIs surged. Businesses sought robust API management solutions to ensure seamless connectivity, scalability, and security for their digital ecosystems. The pandemic underscored the critical role of APIs in supporting agile and resilient business models, fostering heightened awareness and adoption of API management tools. This trend is expected to persist post-pandemic as companies continue to prioritize digitalization efforts, making API management a pivotal component for navigating the evolving landscape.

The security segment is expected to be the largest during the forecast period

The security segment in the API management market has witnessed robust growth due to escalating concerns surrounding data breaches and cyber threats. As organizations increasingly rely on APIs to enable seamless integration and communication between disparate systems, the need for robust security measures has become paramount. Security features such as authentication, authorization, encryption, and threat detection embedded within API management solutions have become essential components in safeguarding sensitive data and ensuring compliance with regulatory standards. Furthermore, the rising awareness of cyber threats and the evolving nature of attacks have prompted businesses to prioritize security within their API strategies.

The IT and telecom segment is expected to have the highest CAGR during the forecast period

The growth of the IT and telecom segment in the API management market can be attributed to the increasing demand for seamless connectivity and efficient data exchange within these industries. As digital transformation accelerates, organizations in IT and telecom are leveraging APIs to enhance interoperability and streamline communication between diverse systems. API management solutions play a crucial role in ensuring the security, scalability, and effective governance of these APIs. Additionally, the proliferation of mobile applications and cloud services within the IT and telecom sectors further fuels the demand for robust API management tools, facilitating agile development and integration processes to meet evolving technological needs.

Region with largest share:

North America has experienced significant growth in the market due to the increasing adoption of digital transformation initiatives by enterprises. The region's robust technological infrastructure and the prevalence of large-scale industries have driven the demand for effective API management solutions. Furthermore, the North American market's growth is fueled by a thriving ecosystem of technology companies and a heightened emphasis on innovation, positioning the region as a key player in the global API management landscape.

Region with highest CAGR:

The Asia Pacific region has experienced substantial growth in the market, driven by the increasing adoption of digital technologies across industries. The surge in demand for seamless integration of applications and data, coupled with the rise in cloud computing and mobile technologies, has propelled the need for robust API management solutions. Organizations in the region are recognizing the importance of efficiently managing and securing their APIs to enhance interoperability and accelerate digital transformation initiatives.

 

Key players in the market

Some of the key players in API Management market include Akana Inc, Amazon Web Services Incorporation, Axway Software Inc., Broadcom Incorporation, CA Technologies, Inc, Cloud Elements, Inc, Google Inc, Hewlett-Packard Enterprises Co, IBM Corporation, Microsoft Corporation, Oracle Corporation, Red Hat Inc, SAP SE and TIBCO Software Inc.

Key Developments:

In January 2024, Amazon Web Services (AWS) announced its plan to invest ¥2.26 trillion ($15.24 billion) in Japan by 2027. This investment aims to expand the cloud computing infrastructure that serves as a crucial foundation for artificial intelligence (AI) services. This investment follows a previous expenditure of ¥1.51 trillion from 2011 to 2022, dedicated to building up cloud capacity in Japan. AWS highlighted its provision of generative AI services to notable Japanese corporate clients, including Asahi Group, Marubeni, and Nomura Holdings.

In November 2023, Broadcom Inc. and VMware, Inc. announced that they have received all required regulatory approvals and intend to close Broadcom’s acquisition of VMware. Broadcom has received legal merger clearance in Australia, Brazil, Canada, China, the European Union, Israel, Japan, South Africa, South Korea, Taiwan, the United Kingdom, and foreign investment control clearance in all necessary jurisdictions. There is no legal impediment to closing under U.S. merger regulations.

Components Covered:
• Solution
• Services
• Other Components

Organization Sizes Covered:
• Large Enterprises  
• Small and Medium Enterprise 
 
Deployment Types Covered:
• On-Premises 
• Cloud  

Applications Covered:
• Gateway  
• Security  
• Governance  
• Performance Analytics  
• Other Applications

End Users Covered:
• BFSI            
• Government            
• Healthcare & Life Sciences            
• Retail and Consumer Goods            
• Travel and Transportation            
• Media & Entertainment            
• IT & Telecom 
• Manufacturing            
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
 

Table of Contents

1 Executive Summary             
              
2 Preface             
 2.1 Abstract            
 2.2 Stake Holders            
 2.3 Research Scope            
 2.4 Research Methodology            
  2.4.1 Data Mining           
  2.4.2 Data Analysis           
  2.4.3 Data Validation           
  2.4.4 Research Approach           
 2.5 Research Sources            
  2.5.1 Primary Research Sources           
  2.5.2 Secondary Research Sources           
  2.5.3 Assumptions           
              
3 Market Trend Analysis             
 3.1 Introduction            
 3.2 Drivers            
 3.3 Restraints            
 3.4 Opportunities            
 3.5 Threats            
 3.6 Application Analysis            
 3.7 End User Analysis            
 3.8 Emerging Markets            
 3.9 Impact of Covid-19            
              
4 Porters Five Force Analysis             
 4.1 Bargaining power of suppliers            
 4.2 Bargaining power of buyers            
 4.3 Threat of substitutes            
 4.4 Threat of new entrants            
 4.5 Competitive rivalry            
              
5 Global API Management Market, By Component             
 5.1 Introduction            
 5.2 Solution            
  5.2.1 API Platform           
  5.2.2 API Analytics           
  5.2.3 API Security           
 5.3 Services            
  5.3.1 Consulting           
  5.3.2 Support & Maintenance           
  5.3.3 Integration and Implementation           
  5.3.4 Training and Education           
 5.4 Other Components            
              
6 Global API Management Market, By Organization Size             
 6.1 Introduction            
 6.2 Large Enterprises            
 6.3 Small and Medium Enterprise            
              
7 Global API Management Market, By Deployment Type             
 7.1 Introduction            
 7.2 On-Premises            
 7.3 Cloud            
              
8 Global API Management Market, By Application             
 8.1 Introduction            
 8.2 Gateway            
 8.3 Security            
 8.4 Governance            
 8.5 Performance Analytics            
 8.6 Other Applications            
              
9 Global API Management Market, By End User             
 9.1 Introduction            
 9.2 BFSI            
 9.3 Government            
 9.4 Healthcare & Life Sciences            
 9.5 Retail and Consumer Goods            
 9.6 Travel and Transportation            
 9.7 Media & Entertainment            
 9.8 IT & Telecom            
 9.9 Manufacturing            
 9.10 Other End Users            
              
10 Global API Management Market, By Geography             
 10.1 Introduction            
 10.2 North America            
  10.2.1 US           
  10.2.2 Canada           
  10.2.3 Mexico           
 10.3 Europe            
  10.3.1 Germany           
  10.3.2 UK           
  10.3.3 Italy           
  10.3.4 France           
  10.3.5 Spain           
  10.3.6 Rest of Europe           
 10.4 Asia Pacific            
  10.4.1 Japan           
  10.4.2 China           
  10.4.3 India           
  10.4.4 Australia           
  10.4.5 New Zealand           
  10.4.6 South Korea           
  10.4.7 Rest of Asia Pacific           
 10.5 South America            
  10.5.1 Argentina           
  10.5.2 Brazil           
  10.5.3 Chile           
  10.5.4 Rest of South America           
 10.6 Middle East & Africa            
  10.6.1 Saudi Arabia           
  10.6.2 UAE           
  10.6.3 Qatar           
  10.6.4 South Africa           
  10.6.5 Rest of Middle East & Africa           
              
11 Key Developments             
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures            
 11.2 Acquisitions & Mergers            
 11.3 New Product Launch            
 11.4 Expansions            
 11.5 Other Key Strategies            
              
12 Company Profiling             
 12.1 Akana Inc            
 12.2 Amazon Web Services Incorporation            
 12.3 Axway Software Inc.            
 12.4 Broadcom Incorporation            
 12.5 CA Technologies, Inc            
 12.6 Cloud Elements, Inc            
 12.7 Google Inc            
 12.8 Hewlett-Packard Enterprises Co            
 12.9 IBM Corporation            
 12.10 Microsoft Corporation            
 12.11 Oracle Corporation            
 12.12 Red Hat Inc            
 12.13 SAP SE            
 12.14 TIBCO Software Inc            
              
List of Tables              
1 Global API Management Market Outlook, By Region (2021-2030) ($MN)             
2 Global API Management Market Outlook, By Component (2021-2030) ($MN)             
3 Global API Management Market Outlook, By Solution (2021-2030) ($MN)             
4 Global API Management Market Outlook, By API Platform (2021-2030) ($MN)             
5 Global API Management Market Outlook, By API Analytics (2021-2030) ($MN)             
6 Global API Management Market Outlook, By API Security (2021-2030) ($MN)             
7 Global API Management Market Outlook, By Services (2021-2030) ($MN)             
8 Global API Management Market Outlook, By Consulting (2021-2030) ($MN)             
9 Global API Management Market Outlook, By Support & Maintenance (2021-2030) ($MN)             
10 Global API Management Market Outlook, By Integration and Implementation (2021-2030) ($MN)             
11 Global API Management Market Outlook, By Training and Education (2021-2030) ($MN)             
12 Global API Management Market Outlook, By Other Components (2021-2030) ($MN)             
13 Global API Management Market Outlook, By Organization Size (2021-2030) ($MN)             
14 Global API Management Market Outlook, By Large Enterprises (2021-2030) ($MN)             
15 Global API Management Market Outlook, By Small and Medium Enterprise (2021-2030) ($MN)             
16 Global API Management Market Outlook, By Deployment Type (2021-2030) ($MN)             
17 Global API Management Market Outlook, By On-Premises (2021-2030) ($MN)             
18 Global API Management Market Outlook, By Cloud (2021-2030) ($MN)             
19 Global API Management Market Outlook, By Application  (2021-2030) ($MN)             
20 Global API Management Market Outlook, By Gateway (2021-2030) ($MN)             
21 Global API Management Market Outlook, By Security (2021-2030) ($MN)             
22 Global API Management Market Outlook, By Governance (2021-2030) ($MN)             
23 Global API Management Market Outlook, By Performance Analytics (2021-2030) ($MN)             
24 Global API Management Market Outlook, By Other Applications  (2021-2030) ($MN)             
25 Global API Management Market Outlook, By End User (2021-2030) ($MN)             
26 Global API Management Market Outlook, By BFSI (2021-2030) ($MN)             
27 Global API Management Market Outlook, By Government (2021-2030) ($MN)             
28 Global API Management Market Outlook, By Healthcare & Life Sciences (2021-2030) ($MN)             
29 Global API Management Market Outlook, By Retail and Consumer Goods (2021-2030) ($MN)             
30 Global API Management Market Outlook, By Travel and Transportation (2021-2030) ($MN)             
31 Global API Management Market Outlook, By Media & Entertainment (2021-2030) ($MN)             
32 Global API Management Market Outlook, By IT & Telecom (2021-2030) ($MN)             
33 Global API Management Market Outlook, By Manufacturing (2021-2030) ($MN)             
34 Global API Management Market Outlook, By Other End Users (2021-2030) ($MN)             
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.              

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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