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Application program interface (API) as a service allows businesses to attain digital transformation and also drive revenue channels. In businesses, API as a service promotes the standard use of enterprise-approved services and helps to reduce IT costs across organizations. The ability of API as a service to deliver available company data and services in the form of software response queries, predict the next plan of action, and build applications faster will result in its augmented adoption during the forecast period. Technavio’s market research analyst has estimated the global API as a service market to grow significantly at a CAGR of over 30% until the end of 2020.
The recent rise in cloud-based API integration will be the primary growth driver for this market. Most organizations prefer cloud-based API services as they help enterprises to explore additional channels and allow easy integration with legacy applications. API integration helps companies to build a single hybrid cloud environment, which will aid organizations to keep track of disparate systems. The capability of this service to aid employees in accessing systems and to define how other systems communicate with each other will result in its increased adoption until the end of the forecast period.
The global API as a service market will experience intense competition among leading as well as niche players. The API as a service market is an attractive market where cloud players acquire niche players to strengthen their web API application services.
Leading vendors analyzed in this market research are -
Other prominent vendors in this market are 3Scale, Akana, Apigee, Axway, Citrix Systems, Forum Systems, Intel, Mashery, Microsoft, Rackspace, SAP, VMware, and WSO2.
Technavio analysts in this market research report have estimated the Americas to account for nearly 64% of the total market share by 2020. Factors like the expansion of IoT services and the increase in partnership between network operators, device makers, and platform providers to address customer demands will foster the prospects for market growth in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Geographical segmentation
PART 06: Market drivers
PART 07: Impact of drivers
PART 08: Market challenges
PART 09: Impact of drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
PART 14: Explore Technavio
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