API Management Market Top Impacting Factors 2020 | CA Technologies, Google LLC, IBM Corporation, Microsoft Corporation, MuleSoft, LLC

Application program interface (API) management is a set of processes that can design, publish, document, and analyze APIs in a secure environment. Also, it can distribute, control, and analyze various APIs that link applications and data across enterprise and clouds. Organizations can guarantee that the public and internal APIs created are consumable and secure through an API management solution. The primary goal of API management is to allow enterprises to utilize or publish an API, to monitor the interface's lifecycle, and to ensure that the developers and applications using the API needs are met. Hence, the global API management market size is anticipated to significant growth during the forecast period. API management is mainly about centralizing the control of API programming which includes analytics, access control, monetization, and developer workflows. For example, Red Hat 3scale API management solution, provides flexibility, dependability, speed, and quality. Also, an API management solution provides rate limits, access control, and usage policies at the minimum.

Increase in demand for API-led connectivity is primarily driving the growth of the API management market. In addition, businesses across the globe are implementing strategies to manage their application program interface to rapidly respond to the changes in customer demands. This is a major factor expected to boost the growth of the global API management market. Companies among various industry verticals are focusing on offering enhanced in-store or out-store experience along with customized recommendations, product support, and offers according to the gender, location, and behavior of the customer though API management solutions. These are the major factors that are expected to drive the growth of the global API management market. However, dearth of professionals required for developing and implementing API management solutions is a challenging factor that can hamper the growth of the global API management market. On the contrary, low-code platform for API development is expected to offer significant opportunities for this market.

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The global API management market is segmented based on component, deployment, enterprise size, industry vertical, and region. Based on component, it is bifurcated into solutions and services. By solution, the market is further sub-segmented into security, API platform, API analytics. By services, the market is further sub-segmented into consulting, support and maintenance, training and education, and integration and implementation. Based on deployment, the market is categorized into cloud and on-premises. Based on enterprise size, it is classified into large enterprises and small & medium enterprises (SMEs). Based on industry vertical, it is divided into travel & transportation, media & entertainment, retail, healthcare & life sciences, IT & telecommunications, banking, financial services & insurance (BFSI), and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

This report provides the profiles of the key players in the global API management market, which include CA Technologies, Google LLC, IBM Corporation, Microsoft Corporation, MuleSoft, LLC, Oracle Corporation, Red Hat, Inc., SAP SE, Software AG, TIBCO Software, Inc., and Amazon Web Services, Inc.,

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The market is evaluated based on its regional penetration, explaining the performance of the market in each regional market covering provinces such as North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.

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