Increasing demand for managing API traffic is promoting 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”, the global API management market is expected to witness positive growth 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.
Global API management
market can be segmented based on component, deployment mode, organization size,
end user and region. Based on the component, solution is the dominating segment
in global API management market and is expected to continue its dominance during
forecast period 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. However, security concerns among
enterprises pertaining to APIs is driving the growth of the on-premise segment
through 2024. Global API management market caters to various end user
industries such as BFSI, IT & Telecom, government, healthcare, retail and
others. In 2018, BFSI was the largest segment in the market as more and more
enterprises are adopting API solutions to streamline their digital businesses.
Browse XX market data Tables and XX Figures spread through XXX Pages and an in-depth TOC on“ Global API Management Market “
Software AG, International Business Machine Corporation, SAP SE, Red Hat
Inc. and CA Technologies, among others are 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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America accounted for the largest market share in the 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. However, Asia-Pacific
region is anticipated to register strong growth through 2024, owing to
increasing penetration of e-commerce backed by surging number of mobile users.” 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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