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API Management Market worth $16.93 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 26, 2024 /PRNewswire/ — The global API Management Market will grow from USD 7.67 billion in 2024 to USD 16.93 billion by 2029 at a compounded annual growth rate (CAGR) of 17.1% during the forecast period, according to a new report by MarketsandMarkets™. API management platforms transform how businesses manage and deploy APIs, making integration more seamless and secure. By providing tools for creating, deploying, and monitoring APIs, these platforms enable organizations to handle their digital assets efficiently. API management integrates various security protocols, analytics, and traffic management technologies to ensure scalability and optimal performance. Additionally, it fosters easier collaboration between internal systems and third-party applications, enhancing agility and allowing companies to adapt smoothly to rapid changes in demand or technology shifts.

Browse in-depth TOC on “API Management Market”

250 – Tables
51 – Figures
270 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2019–2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

Value (USD Billion)

Segments Covered

Offering, Platform, Deployment Type, Organization Size, Verticals

Geographies Covered

North America, Europe, Asia Pacific, Middle East Africa, and Latin America

Companies Covered

Some of the significant API Management Market vendors are Google (US), IBM (US), AWS (US), Microsoft (US), MuleSoft (US), Axway (France), Software AG (Germany), WSO2 (US), Broadcom (US), and TIBCO Software (US)

The services segment is expected to capture the highest CAGR during the forecast period by offering.

API management services are crucial in managing the API throughout its lifecycle and guaranteeing that the APIs developed are secure, elastic, and high-performing. Such services are usually comprised of API design and development tools through which organizations can design and build adequate and reliable APIs for use within their business operations. When APIs are deployed, management services offer API gateways that facilitate traffic management distribution of loads and security shields that shield the APIs from potential threats and other risks that may hinder their proper functioning. Security elements are an essential component of the API management services that provide various advanced features such as authorization and authentication mechanisms to protect multiple APIs and their data from unauthorized access, along with encryption to meet regulatory compliances to some extent. Moreover, these services come with features that offer an API’s performance, usage, and possible real-time problems, enabling organizations to manage API strategies efficiently.

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API management services also facilitate developer interaction by having portals containing documentation, testing beds, and support materials for use. This makes it easier to implement API into software and increases the rate of development, thus improving the developer’s experience. Also, these services provide additional features for API monetization and analytics, which help organizations measure usage and apply charging models that will bring revenues.

Based on the platform, the lifecycle management segment is expected to hold the second largest market share during the forecast period.

API lifecycle management is the process of designing, building, deploying, and managing APIs during their entire lifetime. This management guarantees that APIs are properly created, tested, launched, and monitored to fulfill both business and technical requirements. The lifecycle begins with API designing and planning, which defines the API’s goals, functionality, and standards. This step entails developing a blueprint that defines the API’s endpoints, data structures, and interactions.

Following design, the development step involves developing the API, verifying correct integration with backend systems, and meeting performance targets. This is followed by thorough testing to discover and resolve any bugs before the API is released into production. Once the API is live, it moves on to the deployment step.

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North America is projected to hold the largest market share during the forecast period.

North America’s API Management Market is expected to grow significantly in the near future as the region demonstrates constant digitalization prevalence of cloud, microservice, and mobile applications. APIs are used in almost all business sectors, such as banking, healthcare, retail, and telecommunication, to support business functions, improve the customer experience, and integrate with third-party service providers. Large vendors such as Google, IBM, Microsoft, and MuleSoft drive this market through integrated API management platforms, including API design, development, security, and monitoring. These companies rely on horizontal and vertical growth to bring up their portfolios and meet customers’ needs. The market is also experiencing growth due to the increasing need for more secure and expandable API platforms, which is resulting from increasing security concerns and compliance issues. Moreover, the demands for digital banking, the emergence of fintech solutions, and the influence of IoT devices positively impact the adoption of API management platforms in the region. High maturity and adoption of IT solutions in the North American market, along with several prominent investments in technology infrastructure, makes it an essential region in the API Management Market, especially with considerable US dominance in investments and innovation.

Top Key Companies in API Management Market:

Some of the significant API management vendors include Google (US), IBM (US), AWS (US), Microsoft (US), MuleSoft (US), Axway (France), Software AG (Germany), WSO2 (US), Broadcom (US), and TIBCO Software (US).

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Get access to the latest updates on API Management Companies and API Management Industry 

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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BlueOptima Report Confirms EPAM’s Excellence in Software Development Productivity

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BlueOptima’s report reveals that more than 76.5% of EPAM’s lead developers exceed global productivity and quality standards

NEWTOWN, Pa., Oct. 3, 2024 /PRNewswire/ — As organizations increasingly rely on outsourcing to accelerate their digital transformation efforts, understanding software development productivity and quality is crucial for optimizing software development lifecycles and making informed outsourcing decisions. EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced that EPAM’s developers have outperformed the global developer quality and productivity benchmarks set by BlueOptima, an independent organization specializing in evaluating and measuring software development practices against industry standards and global leaders.

“We’re delighted that our global development teams have surpassed the independent quality and productivity benchmarks set by BlueOptima,” said Balazs Fejes, President of Global Business and Chief Revenue Officer, EPAM. “In today’s cost-conscious environment, this achievement reflects our commitment to delivering exceptional and differentiating value across our global teams, proving that investing in EPAM’s high-caliber developer talent yields results that truly resonate in a competitive enterprise IT outsourcing marketplace.”

In BlueOptima’s Q2 2024 Global Benchmark Report, more than 76.5% of EPAM’s lead developers surveyed outperformed the global average, indicating the superior quality and efficiency of EPAM’s engineering talent across industries and geographical regions. The benchmarking report provides objective, data-driven insights that can inform strategic decision making, improve service delivery and ultimately contribute to the success of outsourcing relationships.

“Our evaluation of EPAM’s lead developers against our extensive global dataset of more than 700,000 developers highlights their exceptional quality and productivity, including when metrics are adjusted for value,” said Jason Rolles, CEO and Managing Director, BlueOptima. “By leveraging our Developer Analytics platform, organizations can make informed decisions and optimize their software development processes. This ensures they partner with the most effective and efficient teams, ultimately leading to better outcomes for all stakeholders in the outsourcing ecosystem.”

For enterprise IT outsourcing customers, BlueOptima’s Global Benchmark Report serves as a critical standard for global software development productivity and quality. By leveraging a dataset of more than 700,000 developers across 30 countries and using metrics like Coding Effort and source code maintainability, BlueOptima’s report offers enterprise outsourcing customers key insights into global software development productivity and quality, helping them benchmark developer efficiency and optimize their outsourced projects.

To learn more about EPAM’s engineering excellence in software development, visit: www.epam.com/services/engineering

About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services, and a leading business and experience consulting partner for global enterprises and ambitious startups. We address our clients’ transformation challenges by focusing EPAM Continuum’s integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients’ time to market and drive greater value from their innovations and digital investments.

We make GenAI real with our AI LLM orchestration, testing and engineering solutions, EPAM DIAL, EPAM EliteA™ and EPAM AI/RUN™, respectively.

We deliver globally but engage locally with our expert teams of consultants, architects, designers and engineers, making the future real for our clients, our partners, and our people around the world. We believe the right solutions are the ones that improve people’s lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market.

Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor and Newsweek as a Top 100 Best Workplace, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services and Worldwide Software Engineering Services as well as a leader in the 2024 Gartner® Magic Quadrant™ for Custom Software Development Services, Worldwide.*

Learn more at www.epam.com and follow us on LinkedIn.

* Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

 

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SOURCE EPAM Systems, Inc.

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energyRe and Google Sign 12-Year Power Purchase Agreement for 435-MWdc Solar Project

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HOUSTON, Oct. 3, 2024 /PRNewswire/ — energyRe today announced that Google has signed a 12-year power purchase agreement to purchase renewable energy from a 435-megawatt (MWdc) solar project to be developed, owned, and operated by energyRe. energyRe will supply electricity and Renewable Energy Credits (RECs) generated from the solar project to Google to power the equivalent of more than 56,000 homes.

The project will support Google’s 2030 goal to run on 24/7 carbon-free energy on every grid where the company operates. The deal was facilitated through LEAP™ (LevelTen Energy’s Accelerated Process), which was co-developed by Google and LevelTen Energy to make clean energy buying and selling more efficient.

“As we continue to progress towards our goal to operate every Google campus on clean electricity every hour of every day by 2030, we are always looking for opportunities to accelerate the delivery of new clean power to the grid,” said Amanda Peterson Corio, Google Global Head of Data Center Energy. “Using our scalable procurement approach, we’ve been able to collaborate quickly with energyRe to deliver new clean energy to the SPP grid system and support our 24/7 progress in the region.”         

“energyRe is proud to deliver reliable clean power to support Google’s ambitious sustainability and decarbonization goals,” said Miguel Prado, Chief Executive Officer of energyRe. “Google is a global leader in renewable energy and continues to set a high bar across the technology industry. energyRe’s track record of delivering clean energy solutions for our customers makes us a trusted partner for companies working to reduce their carbon footprints.”

Nationally, energyRe’s onshore utility-scale portfolio includes 1,520 MWdc of contracted solar assets and 398 megawatt-hours (MWh) of contracted battery storage assets.

About energyRe
energyRe is a leading independent energy company focused on solving complex sustainability challenges and providing clean energy solutions in utility-scale transmission, onshore wind and solar, offshore wind, energy storage and distributed generation. Guided by the principles of innovation and partnership and backed by expertise and experience, energyRe is committed to creating a reliable, renewable energy future for all. energyRe has offices in New York, Houston, Indianapolis, and Charleston. For more information about energyRe, visit www.energyre.com

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CREST Awards ControlCase Penetration Testing Accreditation

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ControlCase, the global leader in technology-enabled certification, cybersecurity, and continuous compliance services has achieved CREST accreditation for Penetration Testing.

FAIRFAX, Va., Oct. 3, 2024 /PRNewswire-PRWeb/ — ControlCase, the global leader in technology-enabled certification, cybersecurity, and continuous compliance services, is delighted to announce that we have achieved CREST accreditation for Penetration Testing. CREST is an international not-for-profit membership body that represents the global cybersecurity industry.

“CREST is delighted to welcome ControlCase as an accredited member company for its penetration testing services.” – Rowland Johnson, CREST President

ControlCase is committed to collaborating with both customers and partners to deliver a supportive end-to-end compliance experience with simplified processes that provide both efficiency and accuracy while saving time and expenses. Clients and partners utilize our Compliance Hub™ and One Audit technology and our amazing team to advance their businesses and to keep their environment and their data private and secure. At ControlCase we recognize the significant risks that a security breach entails and are fully committed to providing world-class security in all our offerings. The attainment of CREST Penetration Testing accreditation underscores ControlCase’s consistent fulfillment of rigorous regulations ensuring the security and safeguarding of sensitive data.

“ControlCase is fully committed to representing the global cybersecurity industry and collectively raising the standards of cyber service providers and professionals. Our CREST Penetration Testing accreditation demonstrates our unwavering commitment to safety, emphasizing our steadfast focus on ensuring the security and satisfaction of our valued clients.” – Mike Jenner, CEO of ControlCase

“CREST is delighted to welcome ControlCase as an accredited member company for its penetration testing services. ControlCase has successfully been through our demanding assessment process that examines test methodologies, legal and regulatory requirements, data protection standards, logging and auditing, internal and external communications with stakeholders, as well as how test data security is maintained. Accrediting ControlCase’s penetration testing services means that CREST is formally recognizing that the company consistently delivers the highest professional security services standards to its customers.”- Rowland Johnson, CREST President

“When you combine our CREST-certified penetration testing with our world-class Compliance Hub™ and One Audit technologies, ControlCase’s capability to deliver both protection and compliance is something all companies should be considering. We make company environments safer, and we do it with less pain, all while saving both time and money. At this time of year, when every company is working to meet their end-of-year and beginning-of-year pen testing deadlines, it is important to get the process started before it is too late to finish. We are here to help.” – Josh Hoffman, CRO of ControlCase

ABOUT CONTROLCASE

ControlCase is a global provider of certification, cybersecurity, and continuous compliance services. ControlCase is committed to empowering organizations to develop and deploy strategic information security and compliance programs that are simplified, cost effective, and comprehensive in both on-premises and cloud environments.

ControlCase specializes in delivering cybersecurity services and IT compliance audits, such as CMMC, ISO, SOC, HIPAA, HITRUST, FedRAMP, and PCI DSS, supported by state-of-the-art technology and amazing people. ControlCase offers a full selection of cybersecurity services and scans to assist clients in attaining IT security certifications, developing readiness strategies, completing assessments, and working through remediation.

For more information, please contact Amy Poblete at apoblete@controlcase.com or visit the company website at www.controlcase.com. You can also connect with ControlCase on social media through LinkedIn at www.linkedin.com/company/controlcase, YouTube at www.youtube.com/controlcasemedia, and Instagram at www.instagram.com/controlcasehq.

ABOUT CREST

Since 2006, CREST has been leading the global cybersecurity community to raise standards. CREST represents the industry and ensures the quality of cybersecurity service providers and professionals. With over 370 accredited member companies operating in dozens of countries, CREST certifies thousands of professionals worldwide through industry-leading examinations. Additionally, CREST collaborates with governments, regulators, academia, training partners, professional bodies, and other stakeholders worldwide.

Additional information about the company can be found on the CREST website at www.crest-approved.org, LinkedIn at www.linkedin.com/company/crest-approved/, X at x.com/CRESTadvocate, and YouTube at www.youtube.com/crestadvocate.

Media Contact

Amy Poblete, ControlCase, LLC, 1 7034836383, apoblete@controlcase.com, https://www.controlcase.com/ 

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