Published: 17 July 2024
API management was the fifth-fastest-growing AIM segment in 2023 with total revenue of $3.3 billion and healthy growth of 13.7%. While the top vendors showed continued growth, it was the smaller vendors who took the most innovative approaches to new market opportunities such as AI.
The API management (APIM) market grew by 13.7%, a little above the application infrastructure and middleware (AIM) market average of 12.4%. The segment reached $3.3 billion in 2023, from $2.9 billion in 2022 driven by continued demand for modernization, the move to cloud and APIs as the way to access digital platforms.
API management was the fifth-fastest-growing segment within the AIM market, behind newly introduced segment process mining, integration platform as a service (iPaaS), robotic process automation (RPA) and high-productivity application platform as a service (hpaPaaS). API management was the fourth largest component of the total AIM market
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