API Management Market to grow by USD 6.70 billion between 2021 - 2026 | Growth Driven by Growing use of digital payment solutions - Technavio

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 continuous growth 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

• 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 Internet connection 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 Internet speed in emerging economies was 50% slower than the global broadband Internet speed. 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., Amazon.com Inc., Axway Software SA, Boomi LP, International Business Machines Corp., Kong Inc, Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, Sensedia SA, Software AG, TIBCO Software Inc., Torry Harris Business Solutions, Workato, WSO2 Inc., Broadcom Inc., Postman Inc.

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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 focus on 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.

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