Application
programming interface (API) is a set of tools, protocols, and
subroutines used to build applications and software. API can also be
defined as a code which allows communication between software
programs. API facilitates program development by providing the
necessary building blocks to the programmer. APIs are realized by
function calls which are composed of nouns and verbs. The required
syntax description is provided in the documentation of the called
application in order to facilitate usage. API
management is the process of documenting, overseeing, and
publishing APIs in a scalable and secure environment. The purpose of
API management is to enable an organization that publishes an API to
monitor the lifecycle of the interface, and ensure that the
requirements of the applications and developers are satisfied. API
management tools control and automate connections between an
application and API while ensuring consistency between different API
versions and implementations. They also monitor traffic between
individual applications and provide cache memory management
mechanisms for improving the performance of the application. Such
tools employ security procedures and policies to authorize,
authenticate, and manage access to API data. As APIs have strategic
importance, API management is critical for any organization’s API
approach. API management software can be developed in-house by
organizations or can be purchased through third-party providers.
Today’s businesses
are increasingly becoming software-powered, customer-centric, and
depend on connectivity. Connectivity thrives on APIs, thus
organizations are increasingly employing API management solutions.
Furthermore, the rise in mobile applications developed for customer
engagement that require APIs to link transactions and enterprise data
is another vital factor to drive the growth of API management market.
Implementation of digital strategies is of utmost importance for
businesses to reach out to their customers. This requires significant
amount of investments in cloud, Internet of Things, mobile, and big
data technologies. These digital advancements are driving
organizations to incorporate and better integrate APIs through API
management. A good API management platform allows organizations
to reshape the backend in case of any change in API, or integration
with an external API. This capability of API management solutions
eliminate the need for the development team to make changes in the
backend code, thus reducing their workload. Furthermore, API
management allows the systematic enforcement of policies, production
assurance of SLAs, and visualization of analytics with deep insights,
thereby transforming an API into a platform.
The API management
market can be categorized on the basis of type of API, deployment
type, industry vertical, and geography. On the basis of type of API,
the market can be further segmented into internal, external, and
partner. Furthermore, on the basis of deployment type, the market can
be further categorized into on-premise, cloud, and hybrid. Moreover,
by industry vertical, the API management market can be segmented into
retail, telecom, travel and transport, insurance, banking, energy and
utilities, media and entertainment, government, aerospace and
defense, healthcare, and automotive. Geographically, the market is
segmented as North America, South America, Europe, Asia-Pacific and
Middle East and Africa.
Get Sample Report
Copy :
The major players in
the API management market include International Business Machine
Corporation, HP Development Company, L.P., Oracle Corporation,
Microsoft Corporation, 3scale API Management, Akana, Inc., Apigee
Corp., Axway, CA Technologies, MuleSoft, Inc., and TIBCO Software,
Inc.
About Us :
Transparency Market
Research (TMR) is a global market intelligence company providing
business information reports and services. The company’s exclusive
blend of quantitative forecasting and trend analysis provides
forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use
proprietary data sources and various tools and techniques to gather
and analyze information.
TMR’s data
repository is continuously updated and revised by a team of research
experts so that it always reflects the latest trends and information.
With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
techniques to develop distinctive data sets and research material for
business reports.
No comments:
Post a Comment