The global API management market size was US$ 2.2 billion in 2021. The global API management market size is estimated to reach US$ 31.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 34.5% during the forecast period from 2022 to 2030.
API managements primary goal is to enable and help the company publish an API to track the lifecycle of that interface. The approach of developers to meet their needs is also an important part of the way the market functions. Its functions are associated with the documentation, publication, and management of application programming interfaces involved in global market research. These are used to gain access to secure environments. Through API management, organizations across multiple business verticals are concentrating on delivering better available or out-of-store insights as well as tailored recommendations, item backing, and offers based on customer gender, location and behavior.
Factors Affecting Market Growth
Firms all around the world are implementing strategies to deal with their application program interfaces in order to rapidly react to modifications in customer requirements. This is the major factor expected to drive the global market.
Increasing penetration of smartphones and the internet across the globe, the need for customer satisfaction and improved customer experience drives the global market.
The need for private and public APIs to increase digital change, growth in mobile applications, and users, and social media penetration are the key factors driving the global market.
Impact Analysis of COVID-19
COVID-19 had immensely risen the adoption of API management owing to an expansion in sales of smartphones, an increase in digitalization, and WFH guidelines. After the COVID-19 impact, the penetration of API management has grown significantly as they offer multiple advantages like public and private APIs which are driving the digital transformation. It is anticipated to offer several opportunities for market expansion during the forecast period. Strong customer interactions and considerable investments in API technologies in both developing and developed economies are anticipated to drive the global market. Thus, COVID-19 had a positive impact on the growth of the API management global market.
North America dominated the global API management market in 2021. The existence of a substantial number of API Management leading manufacturers continued technological advancements, and the availability of qualified technical background are all contributing to the growth of the global market. However, the Asia-Pacific region is anticipated to notice the highest development in the coming years, possibly due to the increasing number of mobile users paired with the penetration of e-commerce in developing countries drives the global market in the region.
The prominent players in the global API management market are:
Amazon Web Services
The global API management market segmentation focus on Deployment Types, Organization Size, Component, Industries, and Region.
Segmentation on the basis of Deployment Types
Segmentation on the basis of Organization Size
Segmentation on the basis of Component
Segmentation on the basis of Industries
IT and telecom
Segmentation on the basis of Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America