At 30.7% CAGR, Europe API Management Market is Projected to be Worth US$ 10,936.00 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe API management market was valued at US$ 1,286.22 million in 2023 and is expected to reach US$ 10,936.00 million by 2031, registering a CAGR of 30.7% from 2023 to 2031. Integration of API with Artificial Intelligence (AI) and multi-cloud API management are among the critical factors attributed to the Europe API management market expansion.

Artificial intelligence (AI) can alter the API industry. API systems can become fluid and intelligent with the integration of AI, providing customers with more specialized and relevant information. AI can reduce the human work required for API administration while giving higher degrees of precision by raising security and efficiency to previously unattainable levels. Similarly, AI security solutions improve API security's ability to detect and mitigate large-scale cyberattacks. With its ability to perform dynamic checks on quickly changing data, AI can detect unlawful access to information and prevent the intruder from accessing a large portion of it. These solutions prevent API calls that compromise information, thereby protecting the system. Furthermore, AI improves the capacity of security programming to detect intrusions by performing static security checks on access patterns and scan payloads. By verifying requests and scanning for hazardous content trends within API calls and messages, static security checks driven by AI can detect far more than basic rules and gateways. Thus, the integration of AI with API management is expected to offer lucrative opportunities for the API management market during the forecast period.

On the contrary, complexity of API hampers the growth of Europe API management market.

Based on component, the Europe API management market is bifurcated into solutions and services. The solutions segment held 88.5% market share in 2023, amassing US$ 1,137.77 million. It is projected to garner US$ 9,860.04 million by 2031 to register 31.0% CAGR during 2023-2031.

In terms of deployment, the Europe API management market is bifurcated into cloud and on-premises. The cloud segment held 66.7% share of Europe API management market in 2023, amassing US$ 857.90 million. It is projected to garner US$ 7,785.53 million by 2031 to expand at 31.7% CAGR during 2023-2031.

In terms of organization size, the Europe API management market is bifurcated into large enterprises and SMEs. The large enterprises segment held 65.3% share of Europe API management market in 2023, amassing US$ 840.45 million. It is projected to garner US$ 6,925.73 million by 2031 to expand at 30.2% CAGR during 2023-2031.

In terms of end user, the Europe API management market is segmented into IT & Telecom, BFSI, healthcare, government, manufacturing, and others. The IT & Telecom segment held 29.7% share of Europe API management market in 2023, amassing US$ 382.13 million. It is projected to garner US$ 3,841.16 million by 2031 to expand at 33.4% CAGR during 2023-2031.

Based on country, the Europe API management market has been categorized into the UK, Germany, France, Russia, Italy, and the Rest of Europe. Our regional analysis states that the UK captured 34.1% share of Europe API management market in 2023. It was assessed at US$ 438.21 million in 2023 and is likely to hit US$ 4,184.89 million by 2031, exhibiting a CAGR of 32.6% during 2023-2031.

Key players operating in the Europe API management market are International Business Machines Corp, Microsoft Corp, Oracle Corp, Google LLC, Broadcom Inc, Software AG, Akamai Technologies Inc, SAP SE, and Amazon Web Services Inc, among others.

• In August 2022, Google LLC introduced pay-as-you-go pricing for Apigee API management to enable customers to unlock Apigee's API management capabilities while retaining the flexibility to manage their costs.
• In November 2023, digitalML joins the Oracle PartnerNetwork with OCI API gateway integration. This support offers OCI customers a comprehensive multi-cloud unified API management solution for API lifecycle management, a holistic API catalog, and consumer portal capabilities. This combination provides a powerful API approach to hybrid and multi-cloud deployments, enabling frictionless portability of APIs across multiple runtime environments.
  
  

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