Global API Management Market
Global API Management Market was valued at US$ 1.0Bn in 2017 and is expected to reach US$ 9.1Bn by 2026, at a CAGR of 31.79% during a forecast period.
API (Application programming interface) stands for a set to protocols, tools, and subroutines that are used to develop software applications. Acting as a communication code among software programs, API management allows an organization to monitor the functionalities of the interface and meet the requirements of the application and developers. API management allows traffic monitoring of individual applications and aids in cache memory management to improve the performance of the application.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The rapid rise in the use of smart mobile devices with advanced specifications to run an application is one of the major factors driving the growth of the global API management market. The numerous beneficial function of application programming interface (API) such as automation of connections between an API and the applications, monitoring traffic from individual apps, and others are creating traction for the API management software in the global market.
Major factors expected to challenge the market from achieving its full potential are data security, legacy investments in SOA, and performance monitoring by skilled professionals. Digital transformation, System integrators, and SOA & PaaS integrations are some of the new opportunities available for the players in the API management market globally. However, poor API security and governance can hamper the growth of the market.
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Last Update : Aug 24, 2020
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