The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increasing use of data-driven decision-making is expected to drive innovation in API management manufacturing, propelling the market during the forecast period.

The global API management market is expected to grow from $2.52 billion in 2022 to $3.28 billion in 2023 at a compound annual growth rate (CAGR) of 30.0%. The API management market is expected to grow to $9.39 billion in 2027 at a CAGR of 30.1%.

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Global API Management Market Segments Include:

• By Component: Solutions, Services
• By Deployment: On-premises, Cloud
• By Organization Size: Large Enterprises, Small and Medium Size Enterprises
• By Vertical: BFSI, IT and Telecom, Retail and Consumer Goods, Travel and Transportation, Government, Media and Entertainment, Healthcare and Life Sciences, Manufacturing, Other Verticals (Education and Energy and Utilities)
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global API management market in 2021.

Major Market Players in the API management market include IBM Corporation, Google LLC, Oracle Corporation, Red Hat Software, Software AG, Axway Software, MuleSoft Inc., Microsoft Corporation, SAP SE, AWS Inc.

Technological advancements are a major trend that is gaining traction in the API management market. To gain a competitive advantage in the API management market, major companies are innovating and introducing new technologies. For example, Google, a US-based technology company, will launch the “Apigee X” API management platform in February 2021. For anomaly detection and operations management, the platform makes use of Google’s AI-ML-based technology. The platform also incorporates Google’s cloud armour firewall and cloud identity access management platform, which eliminates the need for the user to use third-party firewall and identity management tools.

The API Management Global Market Report 2023  provides a API management market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The API management market forecast analyzes API management market size, API management market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

API management is the process of designing, distributing, publishing, and controlling APIs that create APIs or use other people’s APIs to monitor activity and ensure that the needs of the API’s developers and applications are met.

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