About Application Program Interface as a Service
In today’s era of business transformation from rational IT services to cloud hosting services, organizations leverage integrated business services through cloud computing platforms. At times, when greater levels of customization are required, API as a service is deployed to enhance cloud experience and also integrate applications in the cloud environment.
API as a service allows businesses to attain digital transformation and drive revenue channels. A large number of businesses adopt API management services, which exposes their internal services to internal developer communities to drive application development consistency, promote the standard use of enterprise-approved services, and reduce IT costs across organizations.
Technavio’s analysts forecast the global API as a service market to grow at a CAGR of 30.1% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global API as a service market for 2016-2020. To calculate the market size, the report considers the revenue generated from segments hosted over the software as a service (SaaS) platform, i.e., cloud-based management software and solutions
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Application Program Interface as a Service Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Application Program Interface as a Service Market: CA Technologies Inc., IBM Corp., MuleSoft Inc., and TIBCO Software Inc.
Other Prominent Vendors in the market are: 3scale, Akana, Apigee, Axway, Citrix Systems, Forum Systems, Intel, Microsoft, Rackspace, SAP, VMware, and WSO2.
Commenting on the report, an analyst from Technavio’s team said: “API integration helps companies to build a single hybrid cloud environment as many companies struggle to keep track of disparate systems. API as a service helps employees to access systems and define how other systems communicate with each other. These days, organizations of all sizes are building thousands of APIs to render services based on modern technology platforms rather than using legacy applications. Vendors such as Oracle offer integration services delivered to customers and solution providers via the cloud and managed by Oracle.”
According to the report, API as a service provides better control over the product development processes for enterprises. Cloud APIs harness the power of analytics to allow organizations deliver exceptional user experience. Cognitive computing and speech recognition are the most sought applications of API as a service.
Further, the report states that lack in standard security measures in using IoT hinders the market growth.
CA Technologies Inc., IBM Corp., MuleSoft Inc., TIBCO Software Inc, 3scale, Akana, Apigee, Axway, Citrix Systems, Forum Systems, Intel, Microsoft, Rackspace, SAP, VMware, WSO2.
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