API Management Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

API Management Achieves Center Stage as Big Data Analytics and IoT See Further Development

The global application programming interface (API) management market is prognosticated to gain a whole lot of demand because of rising demand for consumable APIs that could securely improve backend capabilities of an organization. Solutions offered in the market are capable of being implemented in cloud-based and on-premises infrastructures. Need for API management is prophesied to increase on the back of growing count of web APIs. Solutions such as API portal could rake in a handsome amount of revenue due to features such as platform provisioning for the use of APIs.

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3scale was acquired by Red Hat in 2016 so that the software company could address growing engagement of internal APIs in microservices and containers and rising count of public APIs by extending its management strengths. In a Red Hat Summit 2018 interview, Steve Willmott, senior director and API infrastructure head at Red Hat gave out some useful tips on crafting API management strategies, drew comparison between competing API management platforms and 3scale, and presented vital elements of 3scale’s roadmap.

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Growing Number of Mobile Subscribers Sets Robust Platform for Market Growth

API management has drawn a number of organizations into the purchase of various products available in the market due to their requirement of productivity improvement. It helps with visualization of insightful analytics and systematic implementation of policies. Yet, there could be more factors augmenting the demand in the world API management market.

Rapid increase in app usage and high demand for mobile devices.
High penetration of ecommerce, rise of social media, and increasing count of mobile subscribers.
Benefits such as providing information to customers more interactively, thereby increasing sales.
End users being attracted to cost advantage and enablement of improved features.
Advancement of big data analytics and internet of things (IoT).

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High Adoptability of New Technologies Pushes Europe and North America Markets

The world API management market is foreseen to grow at a healthy rate in the next few years. However, there could be a few factors that players will need to deal with if they are to sustain their position in the market. For instance, performance monitoring, legacy investment in service-oriented architecture (SOA), and data security are expected to pose challenges to the market in the near term. Nonetheless, players could cash in on important growth prospects created by platform as a service (PaaS) and SOA integration, digital evolution, and system integration. Geographically, the market is predicted to find a couple of regions staying at the forefront in terms of growth.

Increased adoptability of new technologies to help Europe and North America to expand their regional markets with support gained from improved demand.
North America to take advantage of the presence of key cloud service providers (CSPs) and technological advancement.
Vast untapped opportunities in South Korea, Japan, China, and India collected from several end-use verticals to boost growth in Asia Pacific.
Asia Pacific to bank on high adoption of API management, growing count of vendors, and presence of different emerging nations.
Rising acceptance of cloud-based solutions to uplift the Asia Pacific market.

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