API testing market size is estimated 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%.
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Adoption of Agile and Dev Ops practices for software development and open API strategies by businesses are some of the driving factors of the API testing market.
The various key vendors profiled in the report are as IBM, Micro Focus (Formerly HPE), Smart Bear Software, Para soft Corporation, Tricentis, Cigniti, CA Technologies, Infosys, Oracle(Apiary), Quality Logic, Runscope, Bleum.
However, data policies and regulations about API testing is one of the restraining factors that may hamper business critical functions in the API testing market.
The API testing services segment is projected to grow at the highest rate in the API testing market during the forecast period
The API testing services segment is the fastest growing market segment that helps in driving the API testing market during the forecast period.
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The growth in the API testing services segment is expected to be driven by the growing significance of partnerships between the software development teams and the Quality Assurance (QA) services or an offshore QA teams. The API testing tools/software segment is expected to hold the largest market share in the API testing software market during the forecast period.
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On-Premises deployment is expected to hold the largest market share in the API testing market during the forecast period
The API testing on-premises deployment model is expected to hold the largest market share during the forecast period. This is due to businesses refraining from adopting cloud-based platforms to test their APIs, as exposing the public and internal APIs to cloud platform involves high data security risks.
The cloud-based deployment type is expected to have the highest growth rate in the API testing market during the forecast period.
APAC is expected to grow at the highest rate during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period, as the region has the presence of credible organizations that are gradually enabling the embracement of advanced technologies. In Japan, China, and India, the adoption of API testing solutions has primarily been gaining the competitive advantage over the others, to enable the continuous delivery of software development.
North America is expected to hold the largest market share in the API testing market during the forecast period.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with the key people. The breakup of profiles of primary participants is given below:
- By Company:Tier 1: 27%, Tier 2: 31%, and Tier 3: 42%
- By Designation:C level:35%, Director level: 40%, and Others: 25%
- By Region:North America: 42%, Europe :34%, and APAC:24%
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The API testing market has been segmented on the basis of the component, deployment type, vertical, and region. A detailed analysis of the key industry players has been done to provide key insights into their business overview, products and services, key strategies, new product launches, partnerships, agreements, collaborations, expansions, and competitive landscape associated with the API testing market.
Reasons to Access the Report
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the API testing market comprehensively and provides the closest approximations of the revenue numbers for the overall market and sub-segments across different regions.
- The report helps stakeholders to understand the pulse of the market and provides the information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitors and gain more insights to improve their position in the business. The competitive landscape section includes competitive ecosystem, new product developments, partnerships, and mergers & acquisitions.
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