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API Management Market - Rise In The Popularity of Web APIs
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The significant rise in the popularity of web APIs, together with the augmenting demand for public as well as private APIs are projected to drive the growth of the worldwide API management market remarkably in the years to come. Apart from this, the mobility of these solutions and apps explosion are also anticipated to favor this market tremendously over the next few years.
The worldwide market for API management is characterized by the rivalry between the established multinational as well as local players. The market participants rely heavily on the advancements in technology for the growth of their businesses. Over the coming years, they are likely to shift their focus towards strategic alliance in order to gain strength in the global market.
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Application programming interface (API) stands for a set to protocols, tools, and subroutines that are used to build software applications. Acting as a communication code between software programs, API management enables an organization to monitor the functionalities of the interface and meet the requirements of the application and developers. API management allows traffic monitoring of individual applications and helps in cache memory management to improve the performance of the application. As API management software can either be built in-house by an organization or can be imported from third-party providers, and has become an essential tool for several business vendors to enhance their customer experience. Consequently, the demand in the global API management market is projected to expand at a healthy rate during the forecast period of 2016 to 2024.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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