The Asia Pacific API Marketplace Market would witness market growth of 18.6% CAGR during the forecast period (2023-2030).
Application Programming Interface (API) marketplaces provide businesses with a convenient method for discovering the API that suits their needs. These marketplaces also offer diverse features, such as ratings and reviews, to assist companies in selecting a high-quality API. In addition, using the marketplace is frequently less expensive than developing internal APIs. Businesses often pay a one-time fee on marketplaces rather than paying for each API call. Furthermore, these marketplaces result in improved efficiency, permit extended functionality with external systems, reduce implementation time, and enhance audience exposure.
API is essential in integrating various software applications and facilitating their communication. As the software sector continues to flourish, the demand for application programming interfaces has increased substantially, resulting in the rise of API marketplaces. They provide several substantial benefits to developers and organizations. They facilitate the design and expansion of new applications and their integration and management. Improved collaboration is one of the main advantages of these programming interfaces since they allow for automated cloud applications and platforms, facilitating automated workflows and improved workplace collaboration. They connect disparate systems, thereby preventing information silos that hinder productivity.
In Japan, cloud computing has emerged as a crucial service for constructing infrastructure. Cloud services are encouraged to be used by both central government and local government offices by the Government of Japan's Digital Agency. As an illustration, the Digital Agency declared in October 2022 that agencies under the Government of Japan will use "Government Cloud" services throughout the fiscal year. South Korea was among the first nations to implement a national cloud computing strategy. According to estimates, the market for API marketplaces will develop due to the rising popularity of cloud computing, which strengthens cloud infrastructure by providing a wide range of APIs.
The China market dominated the Asia Pacific API Marketplace Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.9 billion by 2030. The Japan market is estimated to witness a CAGR of 17.9% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 19.3% during (2023 - 2030).
Based on Component, the market is segmented into Platform and Services. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into Consumer (Telecom & Marketing, Financial Services, Healthcare and Others) and API Providers. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide API Marketplace Market is Projected to reach USD 47.8 Billion by 2030, at a CAGR of 17.6%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include R Software Inc., Celigo, Inc., Gravitee Topco Limited, Apilayer Data Products GmbH (Idera, Inc.), CompanyHub IT Solutions Pvt. Ltd., Abstract API Inc, Zapier, Inc., Salesforce, Inc. (MuleSoft), ServiceNow, Inc., and beNovelty Limited.
By Component
By Organization Size
By End User
By Country
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