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 NowThe 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.
Related Reports:
The speech-to-text API market size is estimated to grow at a CAGR of 19% between 2022 and 2027. The market size is forecast to increase by USD 3,269.94 million.
The venture capital investment market size is estimated to decline at a CAGR of 20.88% between 2022 and 2027. The market size is forecast to increase by USD 737.56 billion.
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., 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., 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 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.
Contacts
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.comWebsite: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/api-management-market-to-grow-by-usd-6-70-billion-between-2021—2026–growth-driven-by-growing-use-of-digital-payment-solutions—technavio-301928643.html
SOURCE 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.

Related Reports:

The speech-to-text API market size is estimated to grow at a CAGR of 19% between 2022 and 2027. The market size is forecast to increase by USD 3,269.94 million.

The venture capital investment market size is estimated to decline at a CAGR of 20.88% between 2022 and 2027. The market size is forecast to increase by USD 737.56 billion.

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., 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., 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 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/api-management-market-to-grow-by-usd-6-70-billion-between-2021—2026–growth-driven-by-growing-use-of-digital-payment-solutions—technavio-301928643.html

SOURCE Technavio

 

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