Dublin, Sept. 16, 2019 (GLOBE NEWSWIRE) -- The "Global API (Application Programming Interface) Management Market By Component, By Deployment Mode, By Organization Size, By End User, By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global API management market stood at $ 1.1 billion in 2018 and is projected to grow at a CAGR of over 22% during 2019-2024 to reach $ 3.6 billion by 2024, on account of the increasing demand for modern application programming interface (API) to connect various applications and devices.
A growing need to decode data of enterprises so that it can be used by other sections of the organizations is boosting the growth of the market. Application programming interface (API) management can be defined as the process of publishing, documenting and overseeing application programming interfaces in a reliable and secure environment. The advancement of Internet of Things and big data and a rising demand to manage API traffic is anticipated to propel the global API management market through 2024.
The global API management market can be segmented based on component, deployment mode, organization size and end-user. In terms of component, the market can be bifurcated into solutions and services. API management solutions can be deployed on-premise and cloud. On account of reduced costs with high scalability and flexibility to access solutions, there is a steep increase in the adoption of cloud-based deployment among organizations and the trend is likely to continue in the forthcoming years. Based on the organization size, the global API management market can be classified into small and medium enterprise (SME) and large enterprise. A surging need for streamlining API connections is driving the demand for API management solutions among large enterprises.
Regionally, the market for API management is gaining traction and expanding to various regions including North America, Europe, Asia-Pacific, Middle East & Africa and South America. In 2018, North America, followed by Europe, dominated the global API management market and the trend is likely to continue during the forecast period as well. This is due to the early adoption of technologies such as IoT, big data, analytics and cloud and presence of leading players in the regions.
Major players operating in the global API management market include Software AG, International Business Machine Corporation, SAP SE, Red Hat Inc., CA Technologies, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2018, RedHat Inc. acquired software developing company, Noobaa, to manage data storage services across multi-cloud environments.
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study
To analyze and forecast the global API management market size.
To classify and forecast the global API management market based on component, deployment mode, organization size, end-user and regional distribution.
To identify drivers and challenges for the global API management market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global API management market.
To conduct pricing analysis for the global API management market.
To identify and analyze the profile of leading players operating in the global API management market.
Key Topics Covered
Voice of Customer
Global API Management Market Outlook
Market Size & Forecast
Market Share & Forecast
By Solutions (API Platform, API Analytics and API Security)
By Services (Integration, Consulting, Support & Maintenance, and Training & Education),
By Deployment Mode (Cloud and On-premise)
By Organization Size (SME and Large Enterprise)
By End-User (BFSI, IT & Telecom, Government, Retail, Healthcare and Others)
By Region (North America; Europe; Asia Pacific; Middle East & Africa and South America)
By Company (2018)
Market Attractiveness Index
6. North America API Management Market Outlook
7. Europe API Management Market Outlook
8. Asia-Pacific API Management Market Outlook
9. Middle East & Africa API Management Market Outlook
10. South America API Management Market Outlook
Market Trends & Developments
Company Profiles (Partial List of Leading Companies)
International Business Machine Corporation
Red Hat Inc.
For more information about this report visit https://www.researchandmarkets.com/r/umnb3x
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