Global API Management Market Trends, Top Key Players, Opportunities and Forecast to 2023

Market Overview:
The Global API Management Market Size Was Valued at USD 1.82 Billion in 2021, and is Projected to Reach USD 11.24 Billion By 2028, Growing at A CAGR of 29.7 % From 2022 to 2028.

API management involves various techniques to control the access, monitoring, and evaluation of Application Programming Interfaces (APIs) that facilitate the integration of applications and data across the organization and between different cloud platforms. The primary objective of API management is to aid organizations in building and using APIs to keep track of their activities and ensure that they meet the needs of developers and applications that use the APIs. In today's fast-changing environment, businesses are adopting API management solutions to meet rapidly evolving customer expectations. They typically employ a microservices architecture to meet demand and accelerate software development.

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Market Dynamics:
Driver:
The growth of the application programming interfaces (API) management market is expected to be driven by several factors, including the rising demand for modern APIs that connect important data with applications and devices, the increasing adoption of advanced analytics for better insights, and the utilization of APIs. Furthermore, the growing need for API-led connectivity and the use of public and private APIs to speed up digital transformation will also contribute to the growth of the application programming interfaces (API) management market.

Opportunities:
The adoption of microservices architecture is increasing as it enables businesses to develop and deploy applications more quickly and efficiently. API management solutions play a critical role in enabling microservices architecture by providing a way to manage and secure APIs. This presents a significant opportunity for growth in the API management market. As businesses become more reliant on digital technology, the need for cybersecurity solutions is growing. API management solutions can help to secure APIs and prevent unauthorized access to enterprise systems, and therefore, there is a significant opportunity for growth in the API management market.

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Market Segmentation
By Offering, the Solution segment dominated the API Management market. Businesses must disclose more data through APIs to create rich, tailored app experiences for internal users, consumers, and partners, as the number of applications and smart devices required in the digital world grows exponentially. All sectors require a sophisticated life cycle API management solution that allows them to track the success of their API-driven enterprises.

By Type, the Cloud segment is dominating the API Management Market. Cloud-based services save overall expenses while allowing for more flexible and scalable solution access. API management solutions in the cloud are being used by businesses to boost mobility and speed up the API development cycle. The security of APIs is greater in on-premises deployments; but enterprises may save money on the solution, storage, and technical staff by using a cloud-based API management solution.

By Industry Vertical, BFSI is expected to dominate the API Management Market. The BFSI industry has seen a transformation fueled by payment innovation and the use of new technology, namely APIs. Even internet behemoths like Apple and Google have branched out into new areas by offering payment services. As a result, long-established traditional banking and financial institutions may benefit from digital transformation to expand their businesses and increase their profitability.

By Offering
• Solution
• Service

By Type
• Cloud
• On-Premises

By Industry Vertical
• BFSI
• IT & Telecom
• Government
• Healthcare & Life Sciences
• Others

Regional Analysis of API Management Market
North America is dominating the API Management Market. Cloud, IoT, mobility, big data, analytics, and digital transformation have the greatest adoption rates in the North American area. The existence of a large number of API management solution manufacturers, ongoing technological improvements, and the availability of skilled technical experience are all contributing to the market's growth in North America. The United States and Canada are two promising countries that provide suitable regulations for the development of tech companies which have a major impact to strengthen the technological superiority of the region. Companies like Amazon, Google, Oracle are the key enablers in the region as well as global leaders in the market.

• North America
o US
o Canada
o Mexico

• Eastern Europe
o Bulgaria
o The Czech Republic
o Hungary
o Poland
o Romania
o Rest of Eastern Europe

• Western Europe
o Germany
o UK
o France
o Netherlands
o Italy
o Russia
o Spain
o Rest of Western Europe

• Asia Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Thailand
o Vietnam
o The Philippines
o Australia
o New Zealand
o Rest of APAC

• Middle East & Africa
o Turkey
o Bahrain
o Kuwait
o Saudi Arabia
o Qatar
o UAE
o Israel
o South Africa

• South America
o Brazil
o Argentina
o Rest of SA

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Players Covered in API Management Market are
• IBM
• Google
• AWS
• Oracle
• Red Hat
• MuleSoft
• Sensedia
• Software AG
• Osaango
• Axway
• SAP SE
• CA Technologies
• Rogue Wave Software
• TIBCO
• Kony
• Microsoft and other major players.

Key Industry Developments In API Management Market
• September 2021, With the release of a new edition of the platform, Postman, the world's premier API platform, is reinventing the API Management category. In the API-first world, Postman's debut defines it as the only location to develop and use APIs.
• December 2021, MuleSoft, the world's premier integration and API platform have unveiled new universal API management features that allow IT teams to securely establish, administer, and control any API, regardless of environment or technology. Anypoint Flex Gateway, API Manager, API Experience Hub, API Designer with event-driven features, and API Governance are all built directly on MuleSoft's Anypoint PlatformTM, which is a unified platform for integration, API administration, and automation.

Table Of Content:
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Offering
 3.2 By Type
 3.3 By Industry Vertical

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: API Management Market by Offering
 5.1 API Management Market Overview Snapshot and Growth Engine
 5.2 API Management Market Overview
 5.3 Solution
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Solution: Grographic Segmentation
 5.4 Service
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Service: Grographic Segmentation

Chapter 6: API Management Market by Type
 6.1 API Management Market Overview Snapshot and Growth Engine
 6.2 API Management Market Overview
 6.3 Cloud
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Cloud: Grographic Segmentation
 6.4 On-Premises
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 On-Premises: Grographic Segmentation

Chapter 7: API Management Market by Industry Vertical
 7.1 API Management Market Overview Snapshot and Growth Engine
 7.2 API Management Market Overview
 7.3 BFSI
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2016-2028F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 BFSI: Grographic Segmentation
 7.4 IT & Telecom
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2016-2028F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 IT & Telecom: Grographic Segmentation
 7.5 Government
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size (2016-2028F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Government: Grographic Segmentation
 7.6 Healthcare & Life Sciences
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size (2016-2028F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Healthcare & Life Sciences: Grographic Segmentation
 7.7 Others
  7.7.1 Introduction and Market Overview
  7.7.2 Historic and Forecasted Market Size (2016-2028F)
  7.7.3 Key Market Trends, Growth Factors and Opportunities
  7.7.4 Others: Grographic Segmentation
Continued……

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