API Management Market Market Analysis, Size, Share, Growth, Trends, and Opportunities
API Management Market Market Size
Straits Research has published a new report titled "API Management Market: Information by Component (API Analytics, API Platform), by Deployment Type (Cloud, On-Premises), by End-User (BFSI, IT and Telecom), and Region – Forecast till 2031."
The global API Management Market size was valued at USD 1.16 Billion in 2022. It is projected to reach from USD XX Billion in 2023 to USD 7.02 Billion by 2031, growing at a CAGR of 22.15% during the forecast period (2023–2031).
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Market Key Trends:
The increasing adoption of cloud-based services and the growing demand for digital transformation are driving the growth of the API management market.
The use of APIs in various industries such as BFSI, healthcare, and retail is increasing, which is driving the growth of the market.
The growing demand for API security and analytics is also driving the growth of the market.
Driving Factors:
The increasing adoption of cloud-based services is driving the growth of the API management market.
The growing demand for digital transformation is also driving the growth of the market.
The use of APIs in various industries such as BFSI, healthcare, and retail is increasing, which is driving the growth of the market.
Opportunities:
The growing demand for API security and analytics is creating opportunities for the growth of the market.
The increasing adoption of cloud-based services is also creating opportunities for the growth of the market.
API Management Market Market Segmentation:
The API management market can be segmented into component, deployment type, and end-user.
By Component:
- API Analytics
- API Platform
- Security
- Services
By Deployment Type:
- Cloud
- On-Premises
By End-User:
- BFSI
- IT and Telecom
- Government
- Healthcare and Life Sciences
- Retail and Consumer Goods
- Media and Entertainment
- Travel and Transportation
- Manufacturing
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List of Key Players:
Some of the key players operating in the API management market include:
- IBM (USA)
- Google (USA)
- Oracle Corporation (U.S.)
- Red Hat (US)
- Software AG (Germany)
- Axway (US)
- MuleSoft (US)
- Microsoft (US)
- SAP SE (Germany)
- AWS (US)
- CA Technologies (US)
- TIBCO (US)
- Kony (US)
- Rogue Wave Software (US)
- Sensedia (Brazil)
- Torry Harris Business Solutions (US)
- Tyk Technologies (England)
- WSO2 (US)
- Osaango (Finland)
- Dell Boomi (US)
- Postman (US)
- Cloud Elements Inc. (U.S.)
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Conclusion:
The API management market is growing rapidly due to the increasing adoption of cloud-based services and the growing demand for digital transformation. The use of APIs in various industries such as BFSI, healthcare, and retail is increasing, which is driving the growth of the market. The growing demand for API security and analytics is also driving the growth of the market.
About Straits Research:
Straits Research is a premier research and intelligence provider, offering detailed market reports, analytics, and advisory services to empower clients in making informed business decisions. With a team of experienced researchers and analysts, Straits Research delivers tailored insights and actionable data to support the strategic goals of our clients worldwide.
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Address: 825 3rd Avenue, New York, NY, USA, 10022
Phone: +1 646 905 0080 (U.S.), +91 8087085354 (India), +44 203 695 0070 (U.K.)
