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Allied Market Research

API Management Market by Component (API Platform, API Analytics, API Security, Integration & Implementation, Consulting, Support & Maintenance, and Training & Education), Type (Cloud, and On-Premises), Organization Size (SMEs, and Large Enterprises), and Industry Vertical (BFSI, IT & Telecom, Government, Healthcare & Life Sciences, Retail & Consumer Goods, Media & Entertainment, Travel & Transportation, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027

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Aug 2021 | 2809 Views
   
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COVID-19

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API Management Market Insight

Globally, customers are focusing on various digital solutions such as web, smartphones, laptops, tablets, and even for sharing data and applications within the company. This has propelled organizations towards the adoption of more efficient frameworks to deliver enhanced end-user experience. This has led to the adoption of Application Programing Interface (API).  API technology assist the enterprises in sharing the content across organizations, it also comprises of set of process through which organization can gain control .The API management provides companies with an API gateway, developer portal, API lifecycle management, support for API monetization, and API lifecycle management.

API Management Market Scope and Structure Analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

Component, Type, Organization Size, Industry Vertical, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major players analyzed include Axway Inc., CA Technologies Inc., Cloud Elements Inc., Dell Boomi Inc, Fioranco Software Inc., Google LLC, IBM Corporation, Kong Inc., Microsoft Corporation, and MuleSoft Inc.,

 

Impact of COVID-19 on API Management Market: 

  • Overall behavior of security teams is likely to be disrupted, owing to the COVID-19 pandemic, which in turn cause hard in detecting malicious activities and responding them turning out to be complicated.
  • Organizations should take hands-on steps by advising their staff and customers to be more attentive and cautious especially when opening links, emails or documents related to the subject COVID-19.
  • Organizations should safeguard their detection and alerting capabilities are useful while keeping an eye on the impact of having many remote workers. 

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Growing demand for API-led connectivity, and need for public and private APIs to accelerate digital transformation are the major driving factors for the growth of API management market. However, security of API can hamper the growth of market. Contrarily, API management solutions powered with advanced analytics capabilities is an opportunistic factor for global market. 

Growth in demand for API-led connectivity

API based connectivity services is turning out to be a significant procedure within the enterprises, owing to its growing usage in engaging customers, employees and partners. Integration of newer technologies such as IoT, SaaS, big data, social, mobile, and APIs are widening the for new business, thereby creating various paths for revenue streams and gaining an efficient & innovative method for understanding the customer. Initially, these integration were primarily done via point-to-point connections, however this methodology are more susceptible to failure and also consumer a large portion of IT’s time and resource. IoT and API’s is gaining a rapid traction, which is estimated to have a positive impact on the overall market. For instance, one of the restaurant chain Buffalo Wild Wings implemented an IoT and API strategy for forecasting its beer consumption references. 

Moreover, the frequency with which these new systems change has also increased. For example, whereas the database schema of a core banking system may change only on an annual basis, the requirements of the online and mobile banking applications connecting to those systems may change weekly, daily or even hourly.  The speed of these changes cannot be accommodated by traditional point-to-point integration methods. Another approach is required API-led connectivity.

API Security

Digital security has been one of the trending topics, followed by rapid adoption of wireless technologies and services coupled with increasing security breaches within few years. Security factor within API technology has been gaining a rapid traction, owing to increasing cyber breaches within the technology, which has alerted the demand for effective security measures.
Securities issues must be an important aspect to consider any time REST API is been design, testing, and deploying. With the mind-blowing development of REST APIs, the security levels most times are underestimated in the design and development of the API. Security of sensitive data, be it organizational or personal information, is an important factor troubling developers and everybody nowadays. REST APIs is not an exception, being part of essential systems that require protection against security threats and breaches.

Key segments covered:

Segments

Subsegments

  Component

  • API Platform
  • API Analytics
  • API Security
  • Integration & Implementation
  • Consulting, Support & Maintenance
  • Training & Education

  Type

  • Cloud
  • On-Premises

  Organization Size

  • SMEs
  • Large Enterprises

  Industry Vertical

  • BFSI, IT & Telecom
  • Government
  • Healthcare & Life Sciences
  • Retail & Consumer Goods
  • Media & Entertainment
  • Travel & Transportation
  • Manufacturing
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global API management industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global API management market share.
  • The current market is quantitatively analyzed from 2021 to 2027 to highlight the global API management market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis based on the present and future competitive intensity of the market. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
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  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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