With a predicted growth rate of 34.5%, the global api management market, which was estimated to be worth $2.2 billion in 2021, is expected to reach $41.5 billion by 2031.
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"The Global API Management Market 2021-2031 (USD Billion)")
Surging demand for digital transformation with the help of private and public API’s across various industries is the key trend in accelerating market growth. Global API Management Market has sets of practices and technologies to transform within organizations to meet consumer expectations. Hence, the market size for the Global API Management Market is anticipated to reach USD 21.68 billion By 2028.
API has played an important role in getting access to API Monetization, marketing cloud platforms, and the Internet of Things (IoT), It has helped the organization in exposing its data internally and externally securely. The changing dynamics are enhancing the growth of the market and are helping to create secure APIs which can be created, secured, managed services, and analyzed.
API Management Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2031 |
| Study Period | 2018-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2031 | $ 41.5 billion |
| Growth Rate | CAGR of 34.5% during 2021-2031 |
| Segment Covered | By Treatment, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Akamai, Alibaba Group, Cdnvideo, Covington & Burling LLP, Edgemesh, Globecast, Kollective, Peer5, Peerappp, Play2live, Qumu Corporation, S&P Global Inc., Streamroot, Strivecdn, Tata Communications Limited, Viblast, and ZephyrTel. |
Key Segment Of The API Management Market
By Component,(USD Million)
• API Analytics
• API Platform
• Security
• Services
By Deployment Type,(USD Million)
• Cloud
• On-Premises
Regional Overview, (USD Million)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The market value of api management market market in 2031 was $ 41.5 billion
the api management market is growing at a CAGR of 34.5 % during the forecast period.
North America dominated the market for api management market and accounted for the largest revenue share
Advancements in big data analytics and digital transformation have led to the growth of the market. Increasing demand for managing API traffic and advancements in the Internet of Things has further led to the growth of the market. The growth in demand for connecting data to applications and devices has paved the opportunity for the market. It has further enhanced user experience by providing a resourceful and effective experience for the organization that uses these APIs. Besides, it provides a full life cycle framework and proper management of API’s
Component Segment
The Solution segment will grow at the highest CAGR in the forecast period. The growth of the segment is due to the increase in the use of smartphones, which is forcing enterprises to expose data to API’s so that there is user experience both for internal and external users. Organizations need an API management solution that provides them with the performance of API’s driven businesses.
Deployment Segment
The deployment segment has been divided into two types such as the cloud and on-premises. The cloud-based segment will have the highest market size in the forecast period. In the current business environment, Cloud technology uses low-cost integration of the API Management Market system. The cloud-based Global API Management Market is highly scalable and flexible.
Organization Size Segment
The organization segment is bifurcated into Small and Medium-sized Enterprises (SMEs). Large enterprises are expected to will have the highest market size during the forecast period. A large organization can adapt to new technologies easily as compared to SME’s.
Vertical Segment
Based on the vertical, the market is segmented BFSI, IT and Telecom, BFSI, Government, Manufacturing, Media and Entertainment, Retail, Travel & Hospitality, and Others. BFSI will grow at the highest market size during the forecast period. BFSI is adopting API management solutions to have a secure, flexible, and digital business for banking, insurance, and other domains.
The Global API Management Market is subdivided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America will have the largest market size increase in the forecast period. Furthermore, the increase in the internet of things and digital technologies in US and Canada has led to the rise of market growth. The market in the Asia Pacific is the will to witness at the highest CAGR over the forecast period. The increasing adoption of big data and advanced analytics tools has offered growth of the regional market.
The major players of API Management are Adobe, IBM, Oracle, Red Hat, Software AG, Microsoft, and many more. The Global API Management Market is fragmented with the existence of well-known global and domestic players across the globe.