Dublin, Nov. 07, 2024 (GLOBE NEWSWIRE) -- The "API Management Market by Platform (API Gateways, API Lifecycle Management, API Security, API Analytics & Monitoring, API Developer Portal), Service (Integration & Implementation, Support & Maintenance, Training & Education) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global API management market will grow from USD 7.67 billion in 2024 to USD 16.93 billion by 2029 at a compounded annual growth rate (CAGR) of 17.1%
In the market report, we covered the API management market across segments. We estimated the market size and growth potential for many segments based on offering, platform, deployment type, organization size, verticals, and region. It contains a thorough competition analysis of the major market participants, information about their businesses, essential observations about their product and service offerings, current trends, and critical market strategies.
The API management market is gaining traction across multiple sectors, including enterprises, fintech, healthcare, telecom, and cloud service providers, by offering comprehensive API governance, security, and real-time analytics. These solutions provide end-to-end management for API lifecycle processes, including design, deployment, monitoring, and monetization.
More organizations are adopting API management to streamline integration, boost developer productivity, and ensure data security. The focus is on providing seamless connectivity between applications, data, and services powered by analytics, automation, and AI-driven insights to enhance API performance, scalability, and security in today's fast-evolving digital ecosystems.
Some of the significant API management market vendors are Google (US), IBM (US), AWS (US), Microsoft (US), MuleSoft (US), Axway (France), Software AG (Germany), WSO2 (US), Broadcom (US), and TIBCO Software (US).
By vertical, the retail & e-commerce segment holds the highest CAGR during the forecast period.
In the retail and e-commerce industries, API management is essential to how customers interact and how businesses operate. APIs can link disparate sales channels, inventory, and CRM applications to allow unified operations. They let the retailers collect data from various sources to gain a single integrated view of inventory, sales, and customer relationships.
It assists in achieving the proper inventory levels, enhancing order processing and fulfillment, and enhancing shopper personalization. APIs help sell and use the product through various online and offline channels to ensure that customers get the same information, pricing, and promotions regardless of where they get the information. This integration optimizes the customer journey by allowing aspects like live tracking of orders, offers based on history, and easier returns processing.
The integration and implementation services segment holds the largest market share during the forecast period based on services.
Integration and implementation services in API management are essential for effortlessly integrating APIs to existing systems and guaranteeing their successful deployment. These services often entail developing and implementing strategies for integrating APIs into an organization's IT environment, which includes legacy systems, cloud platforms, and third-party apps.
The procedure starts with analyzing the present infrastructure and determining integration needs, then configures API gateways and middleware to ensure seamless data flow and compatibility. Implementation services also include API deployment, which ensures that they are properly configured and tested in production settings. This includes implementing monitoring tools to track API performance, security, and usage, as well as developing mechanisms for continuing maintenance and changes.
Based on the platform, the API security segment holds the highest CAGR during the forecast period.
API protection is crucial for safeguarding data, ensuring privacy, and shielding systems from attacks and unauthorized users. It entails implementing several security measures for APIs at various life cycle phases, including authentication, authorization, encryption, and threat detection. Authentication confirms the identity of the API's users and applications, while authorization guarantees that only users with the necessary permissions can access specific resources or perform certain operations.
Encryption is essential in determining how data will be managed as it moves between clients and servers to avoid cases where third parties intercept information. Further, threat detection mechanisms assist in identifying and combating possible security incidents, including SQL injection attacks, cross-site scripting, and others. Maintaining proper API security involves constantly monitoring and securing against new threats and emergent weaknesses. When these security practices are incorporated into API management, organizations protect their data from being hacked, meet the legal requirements, and gain users' confidence.
The report provides insights on the following pointers:
- Analysis of key drivers (enable seamless integration and interaction between online services, platforms, and devices), restraints (complexity of implementation heightened by the need to accommodate legacy systems, diverse development environments, and evolving technological standards), opportunities (integration of emerging technologies with API management enables organizations to drive innovation, improve efficiency, and deliver more personalized experiences), and challenges (updating APIs while maintaining old versions leads to integration breaks and disruptions) influencing the growth of the API management market.
- Product Development/Innovation: Comprehensive analysis of emerging technologies, R&D initiatives, and new service and product introductions in the API management industry.
- Market Development: In-depth details regarding profitable markets: the paper examines the global API management industry.
- Market Diversification: Comprehensive details regarding recent advancements, investments, unexplored regions, new goods and services, and the API management industry.
- Competitive Assessment: Thorough analysis of the market shares, expansion plans, and service portfolios of the top competitors in the API management industry, such as Google (US), IBM (US), AWS (US), Microsoft (US), and MuleSoft (US).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 299 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $7.67 Billion |
| Forecasted Market Value (USD) by 2029 | $16.93 Billion |
| Compound Annual Growth Rate | 17.1% |
| Regions Covered | Global |
Companies Featured
- IBM
- Aws
- Microsoft
- Mulesoft
- Axway
- Software AG
- Wso2
- Broadcom
- Tibco Software
- Akamai Technologies
- Oracle
- Red Hat
- SAP
- Torry Harris Business Solutions
- Sensedia
- Postman
- Workato
- Boomi
- Kong
- Tray.Io
- Tyk Technologies
- Openlegacy
- Teejlab
- Nevatech
- Prestoapi
- Stoplight
- Gravitee.Io
- Dreamfactory
- Krakend
For more information about this report visit https://www.researchandmarkets.com/r/pkd8bc
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