Red Hat and Elastic announced an expanded collaboration to deliver next-generation search experiences supporting retrieval augmented generation (RAG) patterns using Elasticsearch as a preferred vector database solution integrated on Red Hat OpenShift AI.
Global API Testing Market to Grow to Over $1 Billion by 2022
September 21, 2017
The Global API Testing Market Size Is Estimated to Grow from USD 447.4 Million in 2017 to USD 1,099.1 Billion by 2022, according to the "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" report from Research and Markets.
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. 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 the fastest growing market segment that helps in driving the API testing market during the forecast period. 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.
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 CAGR during the forecast period, as the region has the presence of creditable organizations that are gradually enabling the embracement of advance technologies. In Japan, China, and India, the adoption of API testing solutions has primarily been gaining 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.
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