“Growing number of public and private APIs is one of the factors driving the API management market”
The global API management market size is estimated to grow from USD 606.8 million in 2016 to USD 2,665.3 million by 2021, at a Compound Annual Growth Rate (CAGR) of 34.4%. There is an increasing need for efficient API management solution across all major industry verticals. This requires the adoption of API management solutions that are both scalable and performance oriented, further driving the demand for the API management solutions. The growing numbers of APIs are vulnerable to security threats and require advanced security solutions, which may hinder end users to adopt these solutions.
API portal solutions market accounts for the largest market share during the forecast period
The API portal solutions are estimated to grow with the largest market share during the forecast period. API portal solutions provide a platform for developer and publisher communication and are driving the growth of this market.
The integration services market is expected to gain traction during the forecast period
The API management services market includes training & consulting, integration, and support & maintenance services, in which the integration services market holds the largest market share during the forecast period. Integration services manage all APIs under a single platform, further attracting demand and driving the market.
APAC is projected to grow at the highest rate during the forecast period
North America has captured the largest market share in 2016, and the trend is expected to continue in the coming years. This region is growing owing to the presence of a large number of API management vendors and has witnessed rapid adoption due to the availability of API related solutions. On the other hand, APAC’s API management solutions are expected to witness exponential growth and projected to be the fastest-growing region for the global API management market. This is mainly attributed to the growing requirement of API management solutions that can be scaled according to the increasing demand.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
• By Company Type: Tier 1: 17%, Tier 2: 50%, and Tier 3: 33%
• By Designation: C level: 34%, Director level: 33%, and Others: 33%
• By Region: North America: 67%, Europe: 16%, APAC: 17%,
The various key vendors profiled in the report are as follows:
1. Akana, Inc.(U.S.)
2. Apiary, Inc.(U.S.)
3. Axway, Inc.(France)
4. CA Technologies, Inc.(U.S.)
5. Cloud Elements, Inc.(U.S.),
6. Dell Boomi, Inc.(U.S.)
7. DigitalML (U.S.)
8. Fiorano Software, Inc.(U.S.)
9. Google, Inc.(U.S.)
10. Hewlett-Packard Enterprises Co(U.S.)
11. IBM Corporation(U.S.)
12. Mashape Inc.(U.S.)
13. Microsoft Corporation(U.S.)
14. MuleSoft, Inc.(U.S.)
16. Oracle Corporation(U.S.)
17. RedHat, Inc.(U.S.)
18. SAP SE(Germany)
20. SnapLogic, Inc.(U.S.)
21. Software AG(Germany)
22. TIBCO Software, Inc.(U.S.)
23. Torry Harris Business Solutions, Inc.(U.S.)
24. Tyk Technologies Ltd.(U.K.)
25. WSO2, Inc.(U.S.)
The total API management market contains solutions and services. The solutions segment includes API portal, API gateway, API analytics, administration, security, and monetization. The services market includes training & consulting, integration, and support & maintenance services. The market is segmented on the basis of deployment models which includes on-premises and cloud. Further, the market is segmented on the basis of organization size which includes SMEs and large enterprises. Moreover, the market is also segmented on various industries that include IT & telecom, government & defense, healthcare & life science, retail & consumer goods, media & entertainment, travel & transportation, manufacturing, and others (education, energy & utilities). The entire market is segmented on the basis of five major global regions such as North America, Europe, APAC, MEA, and Latin America.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the API management comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to enhance their position in the business. The competitive landscape section includes new product launches, partnerships, agreements & collaborations, mergers & acquisitions, and expansions.