The global API testing market size is expected to grow from USD 384.3 Million in 2016 to USD 1,099.1 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 19.69% from 2017 to 2022. The base year considered for the study is 2016 and the forecast period is 2017–2022.
Seattle, WA -- (SBWIRE) -- 09/28/2017 -- According to a new market research report "API Testing Market by Component (API Testing Software/Tools and API Testing Services), Deployment Type (Cloud Based and On-Premises), Vertical, and Region - Global Forecast to 2022", The global API testing market size is expected to grow from USD 447.4 Million in 2017 to USD 1,099.1 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 19.69% during the forecast period. Adoption of Agile and DevOps practices for software development and open API strategies by businesses are some of the driving factors of the API testing market.
Browse 73 Market Data Tables and 30 Figures spread through 124 Pages and in-depth TOC on "API Testing Market by Component (API Testing Software/Tools and API Testing Services), Deployment Type (Cloud Based and On-Premises), Vertical, and Region - Global Forecast to 2022"
API Testing Tools/Software is expected to play key role in the API Testing market by 2022
API Testing Tools/Software is projected to hold the largest market share in the API testing component market during the forecast period, as the API testing tools segment encompasses all the software testing tools that enable API testing at the business layer of a software application. Deployed on-premises, on-cloud or on-private cloud, these tools help software teams to test API's functionality, performance, and security to ensure the quality and timely delivery of the software. The API testing services segment has the highest market growth rate during the forecast period.
BFSI sector is expected to record the highest growth rate
In the API testing market, the BFSI vertical is expected to grow at the highest rate during the forecast period. The Open API movement in the banking industry which exposes a wide range of banking APIs with other businesses is driving the API test market.
Request to Get PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=227082545
North America is expected to contribute the largest market share in the API testing market
North Americais expected to hold the largest market share in the API testing market during the forecast period, as APIs enable businesses across industries to monetize their services by exposing their APIs to the external world. North America is at the forefront in the adoption of such APIs that enable businesses to create value by offering their APIs. APAC is expected to grow at the highest CAGR during the forecast period, as the region has the presence of creditable organizations that are gradually enabling the embracement of advance technologies.
Major vendors in the API testing market are Astegic (Virginia, US), Axway (Arizona, US), Bleum (Shanghai, China), CA Technologies (New York, US), Cigniti Technologies (Hyderabad, India), Cygnet Infotech (Ahmedabad, India), IBM (New York, US), Inflectra Corporation (Maryland,US), Infosys (Bengaluru, India), Load Impact (Stockholm, Sweden), LogiGear Corporation (California, US), Micro Focus(Formerly HPE) (Berkshire, UK), Nevatech (Georgia, US), Oracle (Apiary) Corporation (California, US), Parasoft Corporation (California, US), QASource (California, US), QSG Technologies (Bengaluru, India), QualityLogic (Idaho, US), SmartBear Software (Massachusetts, US), SendGrid, Inc. (Colorado, US), Sybrant Technologies (Chennai, India), Runscope (California, US), Trantor (California, US), Tricentis (Vienna, Austria), and Vector Software (Rhode Island, US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States