According to a new market research report published by sheer analytics and insights, “The Application Programming Interface (API) Management Market was $3.2 Bn in 2020, and it is expected to reach $11.43 Bn by 2031. It is eventually growing at a commendable high compound annual growth rate CAGR of 11.4% between 2021-2031”, as per the latest market research report titled Application Programming Interface (API) Management Market (By Component – Introduction, Solution, API Platform, API Portal, API Gateway, API Administration, API Monetization, Others, API Analytics, Security, Services, Integration, and Implementation, Consulting, Support and Maintenance, and Training and Education. By Deployment Type- Introduction, On-Premises, and Cloud. By Organization Size- Introduction, Small and Medium Enterprises, and Large Enterprises. By Industry- Introduction, Banking, Financial Services, and Insurance, IT and Telecom, Government, Healthcare and Life Sciences, Retail and Consumer Goods, Media and Entertainment, Travel and Transportation, Manufacturing, and Others. By Geography-North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Industry analysis, size, share, growth, trends, and forecast, 2021-2031.
The application program interface management is the set of processes that can be published, design, analyze, and document AIPs in a secure environment. Apart from that, it can also distribute, analyze, and control various AIPs that link applications, clouds, and data across the enterprise. The primary goal of API management is to allow enterprises to publish or utilize an application program interface, to monitor the interface’s lifecycle. Increasing demand for the application program interface-led connectivity is driving the market growth during the forecast period. The business across the globe are propelling the market growth.
However, in this current pandemic of COVID-19, the motors market affected much. It changes the growth rate graph slightly in the API Management market. But it has been expected that after the pandemic situation, the global API Management market will reach in a high position in the graph. Apart from that, the rising of the API Management industry across the world is anticipated to offer a massive opportunity for market growth in the next forecast period of 2021 to 2031.
Geographically, The API Management Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include CA Technologies, Google LLC, IBM Corporation, Microsoft Corporation, MuleSoft, LLC, Oracle Corporation, Red Hat, Inc., SAP SE, Software AG, TIBCO Software, Inc., Amazon Web Services, Inc., Sensedia (Brazil), Torry Harris Business Solutions (US), TYK Technologies (England), WSO2 (US), and Osaango among others.
The Global API Management Market Has Been Segmented into:
Global API Management Market: By Component
Global API Management Market: By Deployment Type
Global API Management Market: By Organization Size
Global API Management Market: By Industry
Global API Management Market: By Region