API Testing Market Size, Business Revenue Forecast, Leading Competitors

Posted by kelvindbmr on April 27th, 2021

API testing market will exhibit a CAGR of 19.9% for the forecast period of 2021-2028 and is expected to reach USD 3,265.52 million 2028. API stands for application program interface. It is used to build software, and facilitates communication between software programs. It deals with access to the application without a user interface through collective form of software function and procedures. It is a testing software that checks if the functionality, reliability, performance, security are met, ensuring that the desires of the applications and developers are met beforehand.

Major Market Competitors/Players: Global API Testing Market

Few of the major competitors currently working in the API testing market are  Astegic Inc., Axway, Bleum, Broadcom, CYGNET INFOTECH, IBM, Inflectra Corporation, Infosys Limited, Load Impact AB., LogiGear Corporation, Micro Focus, Nevatech, Inc., PARASOFT, Tricentis, Vector Software, Inc., SmartBear Software, Oracle, QualityLogic, Runscope, Centrify Corporation, QSG, SendGrid, Sybrant Technologies, among others.

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API software is less time consuming than that of GUI testing. XML or JSON can be used to exchange data which are language independent. It has its wide application in IT and telecommunication banking, financial services, and insurance, retail and ecommerce, media and entertainment, healthcare, manufacturing, government.

Segmentation: Global API Testing Market

•          By Deployment Model (On-Premises, Cloud)
•          By Component (API Testing Tools/Software, API Testing Services)
•          By Vertical (IT and Telecommunication Banking, Financial Services, and Insurance, Retail and Ecommerce, Media and Entertainment, Healthcare, Manufacturing, Government)
•          By Organization Size (Large Companies, Small and Mid-sized Businesses)
•          By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Competitive Analysis: Global API Testing Market

Global API testing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of API testing market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Market Drivers:

•          Businesses adopting open API strategies
•          Adoption of agile practices for software development
•          Complexities in the IT sector and the need for testing the performance, drive the market for this demand
•          Implementation of modern techniques of agile and DevOps practices for software development, requires the adoption of modern testing methods thereby driving the demand for API testing

Market Restraints:

•          Data regulations and policies
•          Problems relating to safety and privacy of data hinder the growth of this market