API MANAGEMENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
APIs have become integral to digital transformation strategies of businesses across industries by enabling integration of various applications and data exchange. Rapid adoption of cloud and proliferation of connected devices have boosted demand for API platforms that can securely manage and monitor API traffic. API management solutions empower enterprises to create, secure, publish, monitor and track usage of APIs across on-premises and cloud environments. With growing dominance of APIs for facilitating open innovation, API-first approach can offer substantial opportunities for API management vendors.
Market Dynamics:
Global API management market growth is driven by factors like growing migration of workloads to cloud-based applications, increasing demand for digital transformation among enterprises, and rapid adoption of microservices architecture. APIs have become critical for businesses to foster open innovation and attract developers. The market has witnessed huge demand for OAuth, API analytics and monetization features. However, data security concerns and lack of integration standards can hamper the market growth. Increasing investments in 5G infrastructure projects and rising popularity of IoT devices can accelerate the market growth in the near future.
Key features of the study:
- This report provides in-depth analysis of the global API management market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global API management market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include API Gateway, Apigee, Axway, Dell Boomi, Microsoft, Mulesoft, Oracle, Postman, Red Hat, SAP, Software AG, WSO2, TIBCO Software Inc., IBM, Kong Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global API management market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global API management market
Detailed Segmentation:
Table of Contents
*Browse 32 market data tables and 28 figures on 'API Management Market' - Global forecast to 2031
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