Customers all over the globe are looking forward to ways to connect with companies through various channels and devices such as tablets, web, smartphones, laptops, and even connected devices for sharing data by different applications. This has impelled organizations for the adoption of more efficient frameworks to provide better end-user experience. This has led to increasing application programming interfaces (API) management adoption. This system helps enterprises to share content though applications across organizations. The increasing application programming interfaces (API) usage has created high demand for API management.
According to Data Bridge Market Research, the Application Programming Interfaces (API) Management Market witnessed a healthy CAGR of 31.05% from 2022 to 2029.
“Increasing need for APIs to surge digital transformation is expected to drive the market”
The increasing need for application programming interfaces (API) to integrate and manage different applications and systems is expected to drive the market growth driving the growth of application programming interfaces (API) management during the forecast period. With the increasing use of cloud-based services and digital transformation, APIs play an important role in connecting different systems, applications, and data sources and allowing businesses to develop new digital services. Application programming interfaces (API) Management platforms provide tools for digital transformation to design, publish, build, document, secure and manage APIs, which supports organizations to stay ahead in the competition. Therefore, growing need for APIs to surge digital transformation is expected to drive the market.
What restraints the growth of application programming interfaces (API) management market?
“Lack of skilled professionals”
The implementation of new application programming interfaces (API) management is extremely difficult. As a result, a skilled developer is very important in the implementation of this solution to make it error-free. Developers need to know about developing software and application programming interfaces (API) management techniques. The money required for hiring these skilled professionals is very high, and the time required for the training of these professionals is a long procedure. As a result of all these factors. Reduce the adoption of application programming interfaces (API) management solution which will likely to hamper the market growth.
Segmentation: Application Programming Interfaces (API) Management Market
The application programming interfaces (API) management is segmented on the basis of component, deployment type, organization size and industry.
- On the basis of component, the application programming interfaces (API) management is segmented into solution and services.
- On the basis of deployment type, the application programming interfaces (API) management is segmented into on-premises and cloud.
- On the basis of organization size, the application programming interfaces (API) management is segmented into small and medium enterprises and large enterprises.
- On the basis of organization size, the application programming interfaces (API) management is segmented into banking, financial services and insurance, it and telecom, government, healthcare and life sciences, retail and consumer goods, media and entertainment, travel and transportation, and manufacturing.
Regional Insights: North America is expected to dominate the application programming interfaces (API) management market
North America is expected to dominate the market and is expected to grow significantly due to the increasing adoption of application programming interfaces (API) management services at a large scale in this region. Furthermore, the rising popularity of traditional foods and the increasing launch of new products by the major manufacturers in response to the surging appetite for global cuisines will likely to drive market growth.
In addition, the Asia-Pacific region is likely to register highest growth rate during the forecast period of 2022 to 2029 because of growing data collection in countries such as China and India. Furthermore, the growth and expansion of tourism and hospitality industries which are driving up the demand for sauces for international cuisines in this region.
Recent Development: Application Programming Interfaces (API) Management Market
- In 2022, California Regional Multiple Listing Service (CRMLS) extended their partnership with Styldod to integrate an analysis process and identification for listing photos. Through CRMLS', an API is integrated into CRMLS' ecosystem REcenterhub, which will detect contact information, QR codes, logos, watermarks, branding, NSFW content, human faces, and more.
- In 2022, Google announced to introduction cloud fleet routing API and last mile feet solution to support fleet operators in improving their delivery process. With this launch, Google integrated suite of routing, mapping and analytics capabilities that help fleet operators from the initial e-commerce order to the final doorstep delivery.
- In 2022, Microsoft announced the promo of Azure Private Link support for Azure application programming interfaces (API) Management service, a fully-managed service that allows customers to transform, maintain, publish, secure, and monitor APIs. With this Private Link support, customers can securely access the instance over Azure Private Link.
To know more about the study visit https://www.databridgemarketresearch.com/reports/global-api-management-market
The Prominent Key Players Operating in the Application Programming Interfaces (API) Management Market Include:
- Google (U.S.)
- Microsoft (U.S.)
- Oracle (U.S )
- IBM (U.S.)
- Amazon Web Services, Inc. (U.S.)
- TIBCO Software Inc. (U.S.)
- Cisco Systems Inc. (U.S.)
- Software AG (Germany)
- Axway (France)
- Telefonaktiebolaget Lm Ericsson (Sweden)
- Broadcom (U.S.)
- SAP SE (U.S.)
- Salesforce, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of application programming interfaces (API) management market companies’ contact? https://www.databridgemarketresearch.com/contact
Research Methodology: Global Application Programming Interfaces (API) Management Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
