API Management Global Market Report 2024

Description

API Management Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on api management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for api management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The api management market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Solutions, Services
2) By Deployment: On-premises, Cloud
3) By Organization Size: Large Enterprises, Small and Medium Size Enterprises
4) 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)
Companies Mentioned: International Business Machines Corporation; Google LLC; Oracle Corporation; Red Hat Inc.; Software AG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

API management is the process of overseeing the design, distribution, publication, and control of APIs. This involves creating APIs or utilizing others' APIs to monitor activity and ensure that the needs of developers and applications using the API are effectively met.

The primary components of API management encompass both solutions and services. API management solutions involve activities such as API designing, controlling, analytics, and overall management. These solutions are essentially computer programs designed to execute specific actions with the API. API management can be deployed in various ways, including on-premises and in the cloud, catering to both large enterprises and small to medium-sized enterprises. The industry verticals adopting API management solutions span diverse sectors such as BFSI, IT and telecom, retail and consumer goods, travel and transportation, government, media and entertainment, healthcare and life sciences, manufacturing, and other verticals such as education, energy, and utilities.

The API management market research report is one of a series of new reports from The Business Research Company that provides API management market statistics, including API management industry global market size, regional shares, competitors with an API management market share, detailed API management market segments, market trends and opportunities, and any further data you may need to thrive in the API management industry. This API management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The api management market size has grown exponentially in recent years. It will grow from $3.25 billion in 2023 to $4.19 billion in 2024 at a compound annual growth rate (CAGR) of 28.7%. The growth observed in the historical period can be attributed to several factors, including the rise of the API economy, the widespread digitalization and adoption of cloud technologies, an increasing embrace of microservices architecture, the growth of mobile and web applications, and a heightened focus on enhancing developer experience.

The api management market size is expected to see exponential growth in the next few years. It will grow to $11.99 billion in 2028 at a compound annual growth rate (CAGR) of 30.1%. The anticipated growth in the forecast period can be attributed to several factors, including the expansion of partner ecosystems, the emergence of edge computing and edge APIs, changes in the regulatory landscape, an increased focus on enhancing developer experience, and the implementation of API monetization strategies. Key trends expected in the forecast period include the acceleration of digital transformation, the proliferation of APIs, the prevalence of hybrid and multi-cloud environments, the advent of open banking and financial services, and the continued expansion of partner ecosystems.

The surge in data-driven decision-making practices is significantly propelling the API management market. This approach involves using data to inform business decisions rather than relying on intuition. API management solutions have become pivotal in facilitating data-driven strategies by evaluating data transfer channels before addressing specific business issues. In a study conducted by Foundry in 2022, a considerable portion of organizations had already implemented data-driven projects, with over one-third reporting deployment, marking an increase from the previous year's statistics. Moreover, there's a notable uptick in the percentage of organizations expecting to enhance their budgets for data initiatives, indicating a growing demand for leveraging data-driven decision-making, which is expected to drive the API management market's growth.

The rapid adoption of mobile devices is forecasted to be a key driver for the expanding API management market. The proliferation of smartphones and tablets has led to a surge in mobile app development. APIs play a critical role in facilitating seamless communication and data exchange between mobile applications and backend systems. For instance, as reported by the Economic Times in October 2021, India witnessed significant mobile device usage, with 1.18 billion mobile connections, 700 million internet users, and 600 million smartphones in operation. This substantial adoption of mobile devices contributes significantly to the growth trajectory of the API management market.

A prominent trend shaping the API management market is technological advancement. Key players in this domain are actively innovating and introducing cutting-edge technologies to maintain a competitive advantage. In February 2021, Google, a leading technology company, launched the 'Apigee X' API management platform. This platform harnesses Google's AI-ML-based technology to detect anomalies and manage operations efficiently. Additionally, the integration of Google's cloud armor firewall and cloud identity access management platform within the Apigee X platform eliminates the need for third-party firewall and identity management tools, marking a significant advancement in API management solutions.

Major companies in the API management sector are intensifying their efforts to develop and launch advanced technologies such as the ChatGPT API, aiming to gain a competitive advantage. The ChatGPT API stands as a robust tool that grants access to GPT-3.5 and GPT-4-based versions of the chat generative pre-trained transformer. For instance, in March 2023, OpenAI, a US-based technology firm, unveiled the ChatGPT API, offering businesses the capability to seamlessly integrate the advanced language model, ChatGPT, into their websites, applications, and email platforms. This API equips developers with cutting-edge language and speech-to-text functionalities, empowering them to design more efficient and interactive applications.

In March 2021, UiPath, a New York-based enterprise automation software company, acquired Cloud Elements for an undisclosed sum. This strategic acquisition reinforces UiPath's leadership in fostering innovation within the industry. Additionally, it extends UiPath's customers the flexibility to automate processes utilizing a well-balanced combination of UI and API-based automation techniques. Cloud Elements, established in 2012, operates as a US-based cloud API integration platform.

Major companies operating in the api management market report are International Business Machines Corporation, Google LLC, Oracle Corporation, Red Hat Inc., Software AG, Axway Software SA, MuleSoft Inc., Microsoft Corporation, SAP SE, Amazon Web Services Inc., TIBCO Software Inc., Kony Inc., Rogue Wave Software Inc., Sensedia S.A, DigitalML Limited, Cloud Elements Inc., Solo.io, Stoplight, Teejlab Inc., Nexright Inc., WSO2 Inc., Mashape Inc., SnapLogic Inc., TYK Technologies Ltd., Broadcom Inc., Fiorano Software Inc., Postman Labs Inc., Workato Inc., MuleSoft LLC, SmartBear Software Inc.

North America was the largest region in the API management market share in 2023. The regions covered in the api management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the api management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The API management market consists of revenues earned by entities by providing tracking services and performance monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. The API management market also includes sales of solutions such as internal APIs, open APIs, and composite API solutions. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r12465

1. Executive Summary

2. API Management Market Characteristics

3. API Management Market Trends And Strategies

4. API Management Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global API Management Market Size and Growth

5.1. Global API Management Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global API Management Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global API Management Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. API Management Market Segmentation

6.1. Global API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solutions
Services
6.2. Global API Management Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-premises
Cloud
6.3. Global API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Large Enterprises
Small and Medium Size Enterprises
6.4. Global API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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)

7. API Management Market Regional And Country Analysis

7.1. Global API Management Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global API Management Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific API Management Market

8.1. Asia-Pacific API Management Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China API Management Market

9.1. China API Management Market Overview
9.2. China API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India API Management Market

10.1. India API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan API Management Market

11.1. Japan API Management Market Overview
11.2. Japan API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia API Management Market

12.1. Australia API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia API Management Market

13.1. Indonesia API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea API Management Market

14.1. South Korea API Management Market Overview
14.2. South Korea API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe API Management Market

15.1. Western Europe API Management Market Overview
15.2. Western Europe API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK API Management Market

16.1. UK API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany API Management Market

17.1. Germany API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France API Management Market

18.1. France API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy API Management Market

19.1. Italy API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain API Management Market

20.1. Spain API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe API Management Market

21.1. Eastern Europe API Management Market Overview
21.2. Eastern Europe API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia API Management Market

22.1. Russia API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America API Management Market

23.1. North America API Management Market Overview
23.2. North America API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA API Management Market

24.1. USA API Management Market Overview
24.2. USA API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada API Management Market

25.1. Canada API Management Market Overview
25.2. Canada API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America API Management Market

26.1. South America API Management Market Overview
26.2. South America API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil API Management Market

27.1. Brazil API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East API Management Market

28.1. Middle East API Management Market Overview
28.2. Middle East API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa API Management Market

29.1. Africa API Management Market Overview
29.2. Africa API Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa API Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa API Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. API Management Market Competitive Landscape And Company Profiles

30.1. API Management Market Competitive Landscape
30.2. API Management Market Company Profiles
- 30.2.1. International Business Machines Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Google LLC
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Oracle Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Red Hat Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Software AG
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global API Management Market Competitive Benchmarking

32. Global API Management Market Competitive Dashboard

33. Key Mergers And Acquisitions In The API Management Market

34. API Management Market Future Outlook and Potential Analysis

34.1 API Management Market In 2028 - Countries Offering Most New Opportunities
34.2 API Management Market In 2028 - Segments Offering Most New Opportunities
34.3 API Management Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer