Global API management market is expected to reach a CAGR of 19.3% in the forecast period of 2018 to 2025. The new market report contains data for the historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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)
Major growing sectors under the market segmentation are as follows;
In type, carbon identity management is highly used because of its various advantageous factors such as Reduce the many-sided quality of incorporating business applications, Manage the stream of clients entering, utilizing, and leaving the association, Support worldwide methodologies for specific classes of operational undertakings and among others. Furthermore, Globalization of organizations and the expanding reconciliation of data advancements is an obstacle for identity management. It has given rise to implement a coordinated way to minimize such future obstacles by ensuring improved mechanization and identity creation which proves that there is a huge requirement for API in carbon identity management services. Because of this carbon identity management are growing at the highest CAGR.
In solution, security segment is growing at the highest CAGR because security is a basic component of any application, particularly with respect to APIs, where there are hundreds or thousands of applications making calls on a daily basis. New dangers and vulnerabilities are made consistently and organizations race with time to fix the components. It is necessary to shield the APIs from assaults.
In deployment type, the cloud is growing with highest CAGR rate because of the rapid shift of organization from on-premises to cloud segment due to the acceptance of new and innovated technologies.
In organization size, small and medium-sized enterprises segment is growing with highest CAGR because small and medium enterprises, popularly known as SMEs are growing at a rapid growth rate owing to high economic growth across the globe. The deployment of APIs in these enterprises ensures maximum work within reduced time and creation of power reports with automated dashboards.
In industry vertical, IT & telecommunication segment is growing at the highest CAGR because Integration of API in IT and telecommunication firms demonstrate the modern day power of gathering information. By incorporating APIs, many firms can use their customer touch points to collect information through software systems.
Key Market Players
The key market players for the global API management market are listed below;
Palo Alto Research Center Incorporated
Rogue Wave Software, Inc.
Red Hat, Inc.
CA Technologies, Inc.
Fiorano Software and Affiliates
International Business Machines Corp.
Tibco Software, Inc.
Amazon Web Services Inc.
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