Global API Management Market, By Type (Carbon Identity Management, Maps & Location, Speech/Voice), Solution (Security, API Gateway, API Portal, API Lifecycle Management, API Analytics, Monetization, Administration), Service (Integration, Support Maintenance, Training Consulting), Deployment Type (On-premises, Cloud), Organization Size (Large Enterprises, Small and Medium Enterprises), Industry Vertical (IT & Telecommunication, Government & Defence, Banking, Financial, Services and Insurance (BFSI), Media & Entertainment, Healthcare, Retail & Consumer Goods, Transportation, Manufacturing), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)– Industry Trends and Forecast to 2025The application programming interfaces (APIs) are a set of protocols, tools and subroutines that are used to develop software applications. These APIs are the intermediate of communication code and software programs, thereby assuring the smooth flow of operations. Further, it helps in monitoring the data of the application, which has become one of the most important parts of the organization. It can be developed by an organization either for internal use or can be purchased from third-party providers. It also offers enhanced customer experience and ensures ease of data management. API management helps in building and publishing web APIs, controlling access of application and also enforces usage policies. Also, it helps in collecting and analyzing the usage statistics as well as provides a report of the performance. The API management includes components such as gateway, publishing tools, reporting and analytics and monetization.
Global API management market is expected to reach million by 2025 and is projected to register a healthy CAGR of 19.3% in the forecast period of 2018 to 2025.
Segmentation: Global API Management Market
The API management market is segmented into five notable segments which are type, solution, service, deployment type, organization size, industrial size and geography
- On the basis of type the global API management market is segmented into carbon identity management, maps & location, speech/ voice. In 2018, carbon identity management segment is growing at the highest CAGR and expected to reach USD in the forecast period of 2018 to 2025.
- IDEMIA (France) and Sentryo (France) are few of the companies that provide APIs for identity management.
- On the basis of solution the global API management market is segmented into API portal, security, monetization, API gateway, API analytics, API lifecycle management and administration. In 2018, security segment is growing at the highest CAGR and expected to reach USD in the forecast period of 2018 to 2025.
- Open Authorization (OAUTH) which is a token approval framework, is widely recognized API security measure which does not permit API customer from getting to the clients' data.
- On the basis of service the global API management market is segmented into training consulting, support maintenance, integration. In 2018, integration segment is growing at the highest CAGR of in the forecast period of 2018 to 2025.
- Zomato application is integrated with google API for the working of google maps in the respective application.
- On the basis of deployment type the global API management market is segmented into cloud and on-premises. In 2018, cloudsegment is growing at the highest CAGR in the forecast period of 2018 to 2025.
- Google (U.S.) provides cloud facilities for the users.
- On the basis of organization size the global API management market is segmented into large enterprises and small and medium enterprises. In 2018, small and medium enterprises segment are growing at the highest CAGR in the forecast period of 2018 to 2025.
- NASA provides API platforms to the businesses to invite developers to contribute to their projects.
- On the basis of industry vertical the global API management market is segmented into banking, financial services and insurance (BFSI), IT & telecommunication, government & defense, media & entertainment, healthcare, transportation, retail & consumer goods, manufacturing, and others. In 2018, IT & telecommunication segment are growing at the highest CAGR in the forecast period of 2018 to 2025.
- SightCall’s services provide APIs for screen sharing, one to one audio and video calling which makes it easy for the clients to connect to their representatives
Competitive Analysis: Global API Management Market
Some of the prominent participants operating in this market are Axway, Palo Alto Research Center Incorporated, Microsoft, Rogue Wave Software, Inc., SAP SE, Oracle, Red Hat, Inc., CA Technologies, Inc., Fiorano Software and Affiliates, Software AG, Boomi, Inc., International Business Machines Corp., Nexright, SnapLogic, TYK Technologies, digitalML, Mashape Inc., Mulesoft, Inc., Sensedia, Tibco Software, Inc., WSO2, Inc., Amazon Web Services Inc., and others.
- In July, Microsoft (U.S.) announced the launch of Azure API Management (APIM) integration with Azure Application Insights (AI). This feature will allow customers to add APIM telemetry to AI and use AI’s rich set of capabilities to monitor and troubleshoot their APIs.
- In March, Microsoft (U.S.) launched a new service Custom Vision service under Azure Portal. This is used as cloud-hosted APIs that which ensures developers to add AI capabilities for vision, speech, language, knowledge and search.
- In March, International Business Machines Corp. launched IBM API Connect in order to integrate API directly from SwaggerHub, this solution will help in securing and providing stability and enhancing performance.
- In October, International Business Machines Corp. sponsored application programming interface (API) conferences in the world, the company’s primary initiative was to provide the opportunity for professional to solve real business problems.
Research Methodology: Global API Management Market
Primary Respondents: OEMs, Manufacturers, Engineers, Industrial Professionals.
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers