API MANAGEMENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

API Management Market, By Component (API Gateway, API Analytics and Monitoring, API Security, API Portal, Other Components), By Organization Size (Large Enterprises and Small and Medium-sized Enterprises), By End-use Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Retail and E-commerce, Healthcare, Manufacturing, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Aug 2024
Code : CMI7322
Pages :142
Formats :
Excel and PDF
Industry : Information and Communication Technology

Market Concentration and Competitive Landscape

API Management Market Concentration By Players

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Increasing Demand for Real-time Data Access

The growing demand for real-time data access is a key driver of the global API management market. As digitization accelerates across industries, the need to integrate services, apps, and databases has increased API usage. Consumers now expect a seamless experience across touchpoints and instant access to any service or information. This has compelled organizations to develop user-friendly APIs that can fetch and share data with each other and third-party services instantly. The ability of APIs to enable real-time data exchange has become crucial for businesses to meet evolving customer expectations in the digital age.

For instance, In November 2020, the IT team at the Chicago Department of Public Health (CDPH) partnered with MuleSoft Inc., a prominent provider of integration software, to accelerate the deployment of the COVID-19 vaccine. By leveraging MuleSoft's Anypoint Platform, this collaboration facilitated real-time data collection, contact tracing, and support for vaccine call centers, among other critical services.

Key Players Insights