Magic Quadrant for API Management
Vendors or products added in this year’s report may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
Vendors or products dropped from one year to the next may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
API management is a fundamental capability organizations of all sizes, shapes and industries need. APIs are widely used as the building blocks for modern software architectures, to integrate systems and partners, and as digital products. The API management market generated $3.3 billion in revenue in 2023 and grew at a rate of 13.7%. More customers are opting for 'unbundled' API management capabilities rather than a 'full life cycle' product, leading them to seek out multiple best-of-breed products from different vendors. More customers need distributed API management — the capability to support API deployment and operations across multiple gateway instances. More customers are pursuing AI initiatives that require greater API consumption, security and data protection, which drives demand for API management.
A: We review and adjust our inclusion criteria for Magic Quadrants as markets change. As a result of these adjustments, the mix of vendors in any Magic Quadrant may change over time. A vendor's appearance in a Magic Quadrant one year and not the next does not necessarily indicate that we have changed our opinion of that vendor. It may be a reflection of a change in the market and, therefore, changed evaluation criteria, or of a change of focus by that vendor.