Middle East & Africa API Management Market Forecast to 2031 - Regional Analysis - by Component (Solutions and Services), Deployment (Cloud and On-Premises), Organization Size (Large Enterprises and SMEs), and End User (IT & Telecom, BFSI, Healthcare, Gove

The Middle East & Africa API management market was valued at US$ 259.22 million in 2023 and is expected to reach US$ 1,786.73 million by 2031; it is estimated to record a CAGR of 27.3% from 2023 to 2031.

Multi-Cloud API Management Bolsters Middle East & Africa API Management Market

Multi-cloud API management is the use of various cloud platforms to host and administer APIs. Instead of relying on a single cloud provider, businesses are required to combine the strengths of multiple cloud services to improve API performance, reduce downtime, and improve security. Furthermore, multi-cloud API management enables enterprises to mix and match cloud services according to their requirements. This flexibility enables enterprises to select the best cloud provider for each API, resulting in optimal performance and cost-effectiveness. By distributing APIs across multiple cloud platforms, businesses can significantly reduce the risk of downtime and service disruptions. In the incident of a cloud provider outage, the workload can be seamlessly shifted to another cloud service, ensuring uninterrupted service for customers. Additionally, multi-cloud API management can offer an added layer of security by diversifying the infrastructure. By utilizing different cloud providers, businesses can mitigate the risk of a single point of failure and strengthen their overall security posture. Therefore, the rising adoption of multi-cloud API management is expected to emerge as a key trend in the API management market in the coming years.

Middle East & Africa API Management Market Overview

The Middle East & Africa (Middle East & Africa) API Management market is expected to experience significant growth in the coming years. API management refers to the process of creating, publishing, and managing application programming interfaces (APIs) in a secure and scalable manner. APIs enable different software applications to communicate and interact with each other, facilitating seamless integration and data exchange. The increasing need for data management and operational transparency in the digital era is driving the demand for API management solutions. The growth of the fintech industry and the adoption of open banking concepts in Africa are contributing to the expansion of the API market. The rising number of data-operating companies in the region is fueling the market growth. The Middle East & Africa region is witnessing economic growth, presenting growth opportunities for various industries, including waste management, which in turn drives the demand for API management solutions.

Middle East & Africa API Management Market Revenue and Forecast to 2031 (US$ Million)

Middle East & Africa API Management Market Segmentation

The Middle East & Africa API management market is segmented based on component, deployment, organization size, end user, and country. Based on component, the Middle East & Africa API management market is bifurcated into solutions and services. The solutions segment held a larger market share in 2023.

In terms of deployment, the Middle East & Africa API management market is bifurcated into cloud and on-premises. The cloud segment held a larger market share in 2023.

Based on organization size, the Middle East & Africa API management market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger market share in 2023.

By end user, the Middle East & Africa API management market is categorized into IT & Telecom, BFSI, healthcare, government, manufacturing, and others. The IT & Telecom segment held the largest market share in 2023.

Based on country, the Middle East & Africa API management market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa API management market share in 2023.

International Business Machines Corp, Microsoft Corp, Oracle Corp, Google LLC, Broadcom Inc, Software AG, Akamai Technologies Inc, SAP SE, and Amazon Web Services Inc are some of the leading players operating in the Middle East & Africa API management market.

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