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API Management Market Size to Hit USD 93.19 Billion by 2032; Rising Investment in Cloud Solutions to Propel Growth: The Brainy Insights

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Newark, April 27, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the API management market will grow from USD 4.56 billion in 2022 and reach USD 93.19 billion by 2032. Most companies view API management as a tool for increasing operational efficiency and providing data access to their employees. Several factors are responsible for API management growth, such as the rise in internet use and investments in cloud technology.

Download Report (235+ Pages PDF with Insights, Charts, Tables, Figures) at: https://www.thebrainyinsights.com/enquiry/sample-request/13306

Key Insight of the API Management Market

North America to account for the largest market size during the forecast period.

North America is expected to have the largest market share in the API management market. Key factors favouring the growth of the API management market in North America include adopting cloud technologies, IoT, etc. The expenditure on artificial intelligence and machine learning is increasing, and many companies in BFSI, IT and telecommunication, healthcare, and life sciences are integrating automation software into their existing operations. The U.S. has always been at the forefront of adapting to innovative technologies and implementing them in different industries.

The on-premises segment is expected to augment the market during the forecast period.

The deployment segment is divided into cloud and on-premises. The on-premises segment is expected to augment the market during the forecast period. Most commercial organizations prefer on-premises API management due to the cyber-security threat of cloud servers. The on-premises software allows access to the organization’s current employees and thus maintains authenticity.

The service segment is expected to augment the market during the forecast period.

The component segment includes services and software. The services segment further includes consulting, training and education, support and maintenance. The software segment further includes API security, API platform and API analytics. The service segment is expected to augment the market during the forecast period. API management services help businesses meet their requirements using the existing infrastructure. Any size of organization may benefit from using marketing software services to get the most out of their existing resources. Additionally, these services help upgrade the software without disrupting the current operations.

The small and medium-scale organizations segment will likely grow at the highest CAGR during the forecast period.

The organization size segment includes small and medium-scale organizations and large-scale organizations. The small and medium-scale organizations segment will likely grow at the highest CAGR during the forecast period. Small and medium-sized enterprises require API management to gain a competitive edge in the industry and grab maximum market shares through the implementation of strategies formed based on analysis in a critical time.

The BFSI segment will likely grow at the highest CAGR during the forecast period.

The end-user segment includes retail, BFSI, telecom and IT, healthcare and life science, government and education, and others. The BFSI segment will likely grow at the highest CAGR during the forecast period. Banking and financial institutions can leverage valuable data to gain insights that can be used by implementing API management. Additionally, the integration of API management in BFSI operations ensures the efficient utilization and handling of financial data.

For more information in the analysis of this report, visit: https://www.thebrainyinsights.com/report/api-management-market-13306

Advancement in market

In March 2022, major player Google announced that it would launch Cloud Fleet Routing API and Last Mile Delivery. These solutions will help the fleet operators to improvise their delivery process.

Market Dynamics

Driver: Benefits of API management in several applications

API management has gained prominence in recent years due to its numerous attributes. The API management software helps companies to lead their audience through a customized customer journey and enhance their experience. Without API management, companies would have difficulty managing their operations with limited infrastructure. It is crucial to comprehend how consumers use API management to help their businesses. An API management dashboard shows the resource usage and load across different regions and includes real-time monitoring tools. Direct API exposure may be sufficient and controllable for small and medium-sized businesses. API administration is essential for advancing every large organization’s digital transformation needs in this cutthroat digital environment.

Restraint: Data security risk and complex processes

Organizations are reluctant to share their crucial data with cloud solution providers. The cases of cyber data hacking have increased a lot in the recent decade. Many verified platforms have been found guilty of using the data of their end-consumers. Thus, all these factors highlight the risk of sharing crucial data with software providers. This also overlaps the benefit of using API management platforms on a long-term basis.

Opportunity: Adoption of cloud-based technology

The increasing adoption of cloud-based technology is a lucrative opportunity for API management. Commercial industries are increasingly moving towards the adoption of cloud-based technology, which is propelling the market growth. The use of cloud servers for data storage and management has become common in organizations. With the rise in preference for remote working, the data can be accessed easily by the employees and stakeholders with the help of API management cloud-based software. The increasing adoption of cloud-based technology has led to a rise in the use of API management software and services.

Challenge: Unskilled operators in developing region

In developing regions such as Asia-Pacific, there is a lack of skilled operators who can efficiently operate the software. In underdeveloped and developing countries, many small-scale commercial companies are unaware of the uses of software in data management. This leads to underutilization of the software, which limits its usage in potential applications. The training cost of unskilled labor can affect the profitability of the operating company. Thus, this factor hinders the market’s growth in such countries.

Interested to Procure the Data? Inquire here at: https://www.thebrainyinsights.com/enquiry/buying-inquiry/13306

Some of the major players operating in the API Management market are:

• IBM
• Microsoft
• Google
• Broadcom Inc.
• Axway Software
• Oracle Corporation
• Kong Inc.
• SAP SE
• Amazon Web Services
• Nevatech Inc.
• Kraken D
• Software AG
• WSO2
• TeejLab Inc.
• Workato
• OpenLegacy Technology
• DreamFactory Software
• Postman
• Sensedia

Have Any Query? Ask Our Experts: https://www.thebrainyinsights.com/enquiry/speak-to-analyst/13306

Key Segments Cover in the Market:

By Deployment:

• Cloud
• On-Premises

By Component:

• Services

o Consulting
o Training and Education
o Support and Maintenance

• Software

o API Security
o API Platform
o API Analytics

By Organization Size:

• Small and Medium Scale Organizations
• Large Scale Organization

By End-user:

• Retail
• BFSI
• Telecom and IT
• Healthcare and Life Science
• Government and Education
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.

Contact Us

Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: [email protected] 
Web: www.thebrainyinsights.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

TRON Forum collaborates with four major microcontroller manufacturers to hold TRON Programming Contest Using World-Standard Real-Time OS with 5 million JP YEN cash prize

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TOKYO, March 29, 2024 /PRNewswire/ — TRON Forum (Chair: Ken Sakamura, Professor Emeritus of the University of Tokyo) is pleased to announce that four microcontroller manufacturers, Infineon Technologies Japan K.K. (President & CEO: Ikuya Kawasaki), STMicroelectronics K.K. (Country Manager for Japan: Koichiro Takakuwa), NXP Japan K.K. (President & CEO: Masayuki Wajima), and Renesas Electronics Corporation (President & CEO: Hidetoshi Shibata) have collaborated with the Forum to hold TRON Programming Contest from Monday, December 11, 2023 jointly. The initial registration is being accepted now.

This contest is for engineers and students in Japan and overseas to compete in various  fields such as microcontroller applications, middleware, development environments, and tools using a member of TRON real-time OS (RTOS) family, “μT-Kernel 3.0” (*), which is a global standard of small-scale embedded computer systems.
(*) μT-Kernel 3.0 is an RTOS that fully complies with the real-time OS standard “IEEE 2050-2018” (IEEE Standard for a Real-Time Operating System (RTOS) for Small-Scale Embedded Systems) and runs on microcontrollers from various manufacturers.
Using the latest microcomputer boards provided by the manufacturers, contestants will compete in technologies that bring out the characteristics of RTOSs such as real-time performance, power saving, and small memory footprint, as well as development environments and tools that utilize new technologies.
The details of the contest with the total amount of cash prize, five million Japanese yen are at the following URL: https://www.tron.org/programming_contest/
About TRON Forum
TRON Forum was established in 2002 to promote TRON Project. We have been actively conducting activities centered on the T-Engine project, which prepares the development environment for embedded systems, and the operation of Ubiquitous ID Centers such as ucode.
In May 2015, Chair Sakamura received the ITU 150th Anniversary Award together with Bill Gates and others for his advocacy of open architecture TRON, which is the origin of ubiquitous networking and the IoT.
One member of the TRON RTOS family has been adopted as an international standard for real-time operating systems (RTOS) for small-scale embedded systems as 2050-2018 by Institute of Electrical and Electronics Engineers (IEEE), the world’s largest association of its kind and an international standardization organization. In 2023, the project leader, Chair Sakamura, received the IEEE Masaru Ibuka Consumer Technology Award from the IEEE in honor of the late Mr. Ibuka. In addition, the TRON RTOS family received the IEEE Milestone recognition in 2023.
URL: https://www.tron.org 
 
 

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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Artificial Intelligence

ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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