Published on : Apr 08, 2016
ALBANY, New York, April 8, 2016: The global market for application program interface (API) as a service has been thoroughly analyzed in a recent market research report added to the vast market research portfolio of ResearchMoz.us.
The report, titled “Global Application Program Interface as a Service Market 2016-2020,” states that the market will expand at an exponential 30.1% CAGR over the period between 2016 and 2020. An expansive account of the drivers and trends that will promote the growth of the market and data pertaining to key segments of the regional markets as well as the global market have also been included in the report.
API as a service allows companies to cut down on IT costs and promotes the standard use of a variety of enterprise-approved services. The ability of API as a service to predict the next plan of action based on present business data, deliver available services and business data by means of software response queries, and develop applications faster than the conventional means are some of the factors that will boost its adoption over the course of the report’s forecast period.
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One of the other primary growth drivers for the global API as a service market is the rise in the number of providers of cloud-based API as a service in recent times. Most companies are giving preference to cloud-based services, as such services help companies explore newer channels for digital transformation and allow the easy integration of modern applications into legacy applications.
Integration with application program interfaces also helps companies in building a single hybrid cloud environment, aiding them in keeping track of disparate systems in complex business environments. The capacity of API as a service in aiding employees in accessing systems and defining how distinct applications and systems communicate with each other is also expected to boost the adoption of API as a service on a global front over the report’s forecast period.
The report segments the global API as a service market on the basis of geography into EMEA, APAC, and the Americas. Of these, the segment of the Americas is projected to account for a dominant share of over 64% in the global market by 2020. Growth prospects of the API as a service market in this region will be fostered by factors such as an increase in partnerships between platform providers, network operators, and device makers, and the overall expansion of IoT services.
The report states that the global API as a service market is highly competitive and features a large number of companies. It is an attractive market, where cloud-based service providers are acquiring niche players for strengthening their web application program interface services.
Some of the major vendors operating in the global API as a service market are 3Scale, Microsoft, IBM, TIBCO Software, Akana, Forum Systems, CA Technologies, Axway, Citrix Systems, Apigee, Intel, Mulesoft, Mashery, VMware, Rackspace, SAP, and WSO2.
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