Api Management Market To Grow By Usd 6.70 Billion Between 2021 - 2026 | Growth Driven By Growing Use Of Digital Payment Solutions - Technavio


(MENAFN- PR Newswire) NEW YORK, Sept. 15, 2023 /PRNewswire/ -- The
API Management market
report has been added to Technavio's
offering.
With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the API management market between 2022 and 2026 is USD 6.70 billion. The continugrowth in digital payments drives the API management market. Digital payments are expected to constitute almost 90% of the total
spent in Canada by 2030. As a result, several
banking institutions
across the globe are offering digital payment solutions to improve
banking processes, which
helps many banking companies
gain a competitive advantage over their rivals. Hence, such factors are
expected to replace plastic cards with virtual account numbers,
allowing businesses to manage a wide range of corporate expenses smoothly.
Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

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Technavio has announced its latest market research report titled Global API Management Market 2022-2026
Technavio has announced its latest market research report titled Global API Management Market 2022-2026

  • Market Challenge - A lack of a strong and high-quality network challenges the growth of the API management market.
    In order to use software seamlessly, enterprises need to maintain
    a constant Inteconnection around the clock.
    In case
    the software is unable to update real-time transactions, especially in the investment banking sector, it can lead to huge monetary losses for
    enterprises. In December 2021, the average broadband Intespeed in emerging economies
    was 50% slower than the global broadband Intespeed. Hence, such challenges impede the growth of API management during the forecast period.
    Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

The API management market has been segmented by Deployment (cloud and on-premise) and Geography (North America, APAC, Europe, South America, and Middle East and Africa).

  • The
    cloud
    segment
    will be significant during the forecast period. This type of
    API allows applications to communicate and transfer data to and from the cloud and it
    also integrates
    different cloud and on-premises applications, supporting developers and administrators
    even further in automating API provisioning, activation, setup, monitoring, and troubleshooting. Hence, such factors drive the growth of the cloud segment of the API management market during the forecast period.
  • 26%
    of the global market's growth will originate from North America during the forecast period. Factors like increased smartphone penetration and connectivity
    will facilitate the
    application programming interfaces management market
    growth in North America.
    View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the API management market:

Akamai Technologies Inc., Alphabet Inc., AmazonInc., Axway Software SA, Boomi LP, International Business Machines Corp., Kong Inc, Microsoft Corp., Oracle Corp., SalesforceInc., SAP SE, Sensedia SA, Software AG, TISoftware Inc., Torry Harris Business Solutions, Workato, WSO2 Inc., BroaInc., Postman Inc.

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API Management Market Scope

Report Coverage

Details

Base year

2021

Historic period

2017-2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 20.56%

Market growth 2022-2026

USD 6.70 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

11.1

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 26%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Akamai Technologies Inc., Alphabet Inc., AmazonInc., Axway Software SA, Boomi LP, International Business Machines Corp., Kong Inc, Microsoft Corp., Oracle Corp., SalesforceInc., SAP SE, Sensedia SA, Software AG, TISoftware Inc., Torry Harris Business Solutions, Workato
, WSO2 Inc., BroaInc., and Postman Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Deployment

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers,
Challenges, &
Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis foon emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:

SOURCE Technavio

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