Application Programming Interface (API) Security Market Size, Share, Growth Analysis, By Offering:(Platform & Solutions, Services), By Deployment Mode:(On-Premises, Cloud, Hybrid), By Organization Size:(SMEs, Large Enterprise), By Vertical:(BFSI, IT and ITeS, Telecom, Government), By Region:(North America, Europe, Asia Pacific, Middle East and Africa) - Industry Forecast 2024-2031

Application Programming Interface (API) Security Market Insights

Market Overview:

According to forecasts, the size of the global API security market will increase from USD 744 million in 2023 to USD 3,034 million in 2028, at a Compound Annual Growth Rate (CAGR) of 32.5%. Surge in API Breaches Across Industries, Hacker Exploitation, Underlying Factors Contributing to API Security Incidents, Growing Complexity of Ecosystem, and Need to Safeguard Applications and Protect Sensitive Data are the main drivers of this industry.

Application Programming Interface (API) Security Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028

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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Internet Services & Infrastructure by segment aggregation, the contribution of the Internet Services & Infrastructure in Software & Services and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

Segmentation Analysis:

The Application Programming Interface (API) Security Market is segmented by Offering:, Deployment Mode:, Organization Size:, Vertical:, Region:. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

Application Programming Interface (API) Security Market Basis Point Share Analysis, 2021 Vs. 2028

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Based on Offering: the market is segmented as, Platform & Solutions, Services
Based on Deployment Mode: the market is segmented as, On-Premises, Cloud, Hybrid
Based on Organization Size: the market is segmented as, SMEs, Large Enterprise
Based on Vertical: the market is segmented as, BFSI, IT and ITeS, Telecom, Government, Manufacturing, Healthcare, Retail and eCommerce, Media and Entertainment, Energy and Utilities, Other Verticals (Transportation and Logistics; Travel and Hospitality; and Research and Academia)
Based on Region: the market is segmented as, North America, Europe, Asia Pacific, Middle East and Africa, Latin America, KEY MARKET PLAYERS, Google (Apigee), Salt, Noname, Akamai, Data Theorem, Axway, Imperva, Traceable, Palo Alto Networks, Fortinet, Red Hat, Airlock by Ergon, Akana by Perforce, WS02, Forum Systems, Cequence, Sensidia, Spherical Defense, Neosec, Signal Sciences, Firetail, Resurface Labs, 42Crunch, Aiculus, Gravitee

Regional Analysis:

Application Programming Interface (API) Security Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.

Application Programming Interface (API) Security Market Attractiveness Analysis, By Region 2020-2028

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Application Programming Interface (API) Security Market : Risk Analysis

SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Application Programming Interface (API) Security Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Application Programming Interface (API) Security Market's supply chain, distribution, and total revenue growth.

Competitive landscaping:

To understand the competitive landscape, we are analyzing key Application Programming Interface (API) Security Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Application Programming Interface (API) Security Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

API security market size is projected to grow from USD 744 million in 2023 to USD 3,034 million by 2028 at a Compound Annual Growth Rate (CAGR) of 32.5% during the forecast period. The expansion of the API security market is driven by the rise in API breaches, creating a strong demand for robust API security solutions. These solutions protect applications and integrations, effectively countering evolving risks.
Additionally, the rapid growth of application ecosystems has played a significant role in promoting the adoption of API security measures. Hackers are increasingly targeting APIs due to their widespread usage and access to valuable data, further bolstering the growth of the API security market.
Moreover, ongoing investments and the growing demand for APIs are contributing to the expansion of the API security market. These factors indicate a promising growth trajectory for the market as organizations actively seek improved security and governance measures. Consequently, the demand for API security solutions is expected to witness a significant upsurge shortly.
Application Programming Interface Security
Driver: APIs have become a prime target for threat actors
APIs have become attractive targets for hackers due to their widespread use and access to valuable data. Common attacks on APIs include injection attacks, cross-site scripting, and authentication bypass. However, the focus on securing APIs often overlooks the importance of the authentication process. Static API keys, and long-lived credentials, can lead to vulnerabilities when employees leave an organization. Additionally, certain authentication mechanisms can unintentionally introduce API vulnerabilities. Therefore, APIs should be designed to enforce regular authentication and verify token validity within an identity or secret store. These measures help organizations strengthen API security, reducing the risks of unauthorized access and data breaches.
Restraint: Lack of skilled professionals for implementing API security solutions
Implementing API security solutions in an organization’s existing infrastructure requires assessing the API’s quality, flexibility, and stability. It is crucial to find a skilled developer with knowledge of software development and current API security trends, which can be time-consuming and costly in hiring and training. Additionally, integrating API security solutions across multiple platforms necessitates expertise and a well-established infrastructure.
Opportunity: Continuous rise in investment across API security vendors
The increasing demand for robust protection against data breaches and the recognition of API security as a major challenge for CIOs have led to rising investments in API security solutions. Traditional fragmented solutions are being replaced by more comprehensive and effective options offered by companies like Wib and Salt Security. These investments support innovative teams and technologies that address the growing API security blind spot. They enable API security companies to enhance their offerings, develop new technologies, and expand globally. This demonstrates the market's potential for development, innovation, and the creation of integrated API security platforms to address the critical need for protection in today's digital landscape.
Challenge: Traditional security controls may not provide sufficient protection for APIs
Traditional security controls like WAFs and SIEM systems are inadequate for securing APIs, as they struggle to detect disguised malicious activities. APIs bypass centralized controls, enabling attackers to exploit vulnerabilities unnoticed. Organizations with multiple data centers and cloud environments face challenges securing high volumes of east-west API traffic. Weak input validation for APIs poses risks to sensitive data. To effectively protect critical information, APIs require tailored security measures to mitigate these issues and enhance their overall security.
By vertical, the Healthcare segment is to grow at the highest CAGR during the forecast period.
The widespread adoption of APIs in healthcare enables secure data exchange among different systems and applications. However, this increased usage also expands the potential attack surface for cybercriminals. Moreover, the sensitive nature of patient data, often stored within APIs, makes them an attractive target for hackers aiming to steal information or disrupt healthcare operations. As cyber threats become more sophisticated and targeted, healthcare organizations recognize the importance of safeguarding their APIs. This growth in API security is further fueled by the rise of telehealth and telemedicine, which rely on APIs for remote patient care and data exchange. Additionally, the adoption of cloud-based healthcare solutions and the proliferation of connected medical devices, both reliant on APIs, contribute to the increased focus on protecting these crucial interfaces in the healthcare industry.
By region, North America accounts for the highest market size during the forecast period.
The North American region accounts for the highest market size due to several key factors, such as stringent regulatory compliance, strong cybersecurity preparedness, collaborative initiatives by market players, increasing cyber threats, and economic and technological advancements. These factors drive the adoption of API solutions and services in the region to protect business and customer data and enhance overall cybersecurity. Key advancements in this field include cloud-based testing, mobile app security testing, and IoT security solutions. In collaboration with industry standards and training initiatives, governments are actively working to enhance application security.
Recent Developments
In June 2022, Google (Apigee) (US) introduced Apigee Advanced API Security, a robust solution designed to assist customers in addressing their increasing API security requirements. This comprehensive set of API security features is built on Apigee, Google's API management platform. With Advanced API Security, organizations gain enhanced capabilities for detecting and mitigating security threats within their APIs.
In July 2022, Salt Security (US) introduced significant enhancements to its advanced API Protection Platform. The updates strengthen threat detection and pre-production API testing capabilities, offering deeper insights into attacker behaviors, visual representations of API call sequences, and the ability to simulate attacks before deploying APIs into production. With these new features, Salt empowers organizations with comprehensive API usage visibility, enhances incident response speed, and improves overall business understanding.
In April 2023, Noname (US) partnered strategically with MindPoint Group, a reputable cybersecurity consulting firm. Together, they developed an advanced API security platform in a secure OVA deployment format. This collaboration offers customers a simplified and quick approach to securing their API inventory while ensuring the platform is inherently protected.
In March 2022, Imperva (US) introduced Imperva API Security, offering continuous API discovery and data classification. This product ensures data visibility and safeguarding across traditional and cloud-native applications. It can also be used alongside Imperva Cloud Web Application Firewall (WAF) or as a standalone solution, effectively protecting APIs in developer environments prone to security vulnerabilities and unintended exposure.
In January 2021, Palo Alto Networks (US) launched Prisma Cloud 2.0, introducing the Web Application and API Security (WAAS) module. This module enables the discovery and protection of web applications and APIs across various clouds, offering customizable OWASP Top 10 protection, API security, and runtime protection. It provides security teams with a single dashboard integrated with the Defender unified agent framework for easy deployment and enabling protection for cloud-native applications.
KEY MARKET SEGMENTS
By Offering:
Platform & Solutions
Services
By Deployment Mode:
On-Premises
Cloud
Hybrid
By Organization Size:
SMEs
Large Enterprise
By Vertical:
BFSI
IT and ITeS
Telecom
Government
Manufacturing
Healthcare
Retail and eCommerce
Media and Entertainment
Energy and Utilities
Other Verticals (Transportation and Logistics; Travel and Hospitality; and Research and Academia)
By Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
KEY MARKET PLAYERS
Google (Apigee)
Salt
Noname
Akamai
Data Theorem
Axway
Imperva
Traceable
Palo Alto Networks
Fortinet
Red Hat
Airlock by Ergon
Akana by Perforce
WS02
Forum Systems
Cequence
Sensidia
Spherical Defense
Neosec
Signal Sciences
Firetail
Resurface Labs
42Crunch
Aiculus
Gravitee
Nevatech

SkyQuest's Expertise:

The Application Programming Interface (API) Security Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.

Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.

Scope Of Report

Report Attribute	Details
The base year for estimation	2021
Historical data	2016 – 2022
Forecast period	2022 – 2028
Report coverage	Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered	By Offering: - Platform & Solutions, Services By Deployment Mode: - On-Premises, Cloud, Hybrid By Organization Size: - SMEs, Large Enterprise By Vertical: - BFSI, IT and ITeS, Telecom, Government, Manufacturing, Healthcare, Retail and eCommerce, Media and Entertainment, Energy and Utilities, Other Verticals (Transportation and Logistics; Travel and Hospitality; and Research and Academia) By Region: - North America, Europe, Asia Pacific, Middle East and Africa, Latin America, KEY MARKET PLAYERS, Google (Apigee), Salt, Noname, Akamai, Data Theorem, Axway, Imperva, Traceable, Palo Alto Networks, Fortinet, Red Hat, Airlock by Ergon, Akana by Perforce, WS02, Forum Systems, Cequence, Sensidia, Spherical Defense, Neosec, Signal Sciences, Firetail, Resurface Labs, 42Crunch, Aiculus, Gravitee
Regional scope	North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
Country scope	U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa
Key companies profiled	API security market size is projected to grow from USD 744 million in 2023 to USD 3,034 million by 2028 at a Compound Annual Growth Rate (CAGR) of 32.5% during the forecast period. The expansion of the API security market is driven by the rise in API breaches, creating a strong demand for robust API security solutions. These solutions protect applications and integrations, effectively countering evolving risks. Additionally, the rapid growth of application ecosystems has played a significant role in promoting the adoption of API security measures. Hackers are increasingly targeting APIs due to their widespread usage and access to valuable data, further bolstering the growth of the API security market. Moreover, ongoing investments and the growing demand for APIs are contributing to the expansion of the API security market. These factors indicate a promising growth trajectory for the market as organizations actively seek improved security and governance measures. Consequently, the demand for API security solutions is expected to witness a significant upsurge shortly. Application Programming Interface Security Driver: APIs have become a prime target for threat actors APIs have become attractive targets for hackers due to their widespread use and access to valuable data. Common attacks on APIs include injection attacks, cross-site scripting, and authentication bypass. However, the focus on securing APIs often overlooks the importance of the authentication process. Static API keys, and long-lived credentials, can lead to vulnerabilities when employees leave an organization. Additionally, certain authentication mechanisms can unintentionally introduce API vulnerabilities. Therefore, APIs should be designed to enforce regular authentication and verify token validity within an identity or secret store. These measures help organizations strengthen API security, reducing the risks of unauthorized access and data breaches. Restraint: Lack of skilled professionals for implementing API security solutions Implementing API security solutions in an organization’s existing infrastructure requires assessing the API’s quality, flexibility, and stability. It is crucial to find a skilled developer with knowledge of software development and current API security trends, which can be time-consuming and costly in hiring and training. Additionally, integrating API security solutions across multiple platforms necessitates expertise and a well-established infrastructure. Opportunity: Continuous rise in investment across API security vendors The increasing demand for robust protection against data breaches and the recognition of API security as a major challenge for CIOs have led to rising investments in API security solutions. Traditional fragmented solutions are being replaced by more comprehensive and effective options offered by companies like Wib and Salt Security. These investments support innovative teams and technologies that address the growing API security blind spot. They enable API security companies to enhance their offerings, develop new technologies, and expand globally. This demonstrates the market's potential for development, innovation, and the creation of integrated API security platforms to address the critical need for protection in today's digital landscape. Challenge: Traditional security controls may not provide sufficient protection for APIs Traditional security controls like WAFs and SIEM systems are inadequate for securing APIs, as they struggle to detect disguised malicious activities. APIs bypass centralized controls, enabling attackers to exploit vulnerabilities unnoticed. Organizations with multiple data centers and cloud environments face challenges securing high volumes of east-west API traffic. Weak input validation for APIs poses risks to sensitive data. To effectively protect critical information, APIs require tailored security measures to mitigate these issues and enhance their overall security. By vertical, the Healthcare segment is to grow at the highest CAGR during the forecast period. The widespread adoption of APIs in healthcare enables secure data exchange among different systems and applications. However, this increased usage also expands the potential attack surface for cybercriminals. Moreover, the sensitive nature of patient data, often stored within APIs, makes them an attractive target for hackers aiming to steal information or disrupt healthcare operations. As cyber threats become more sophisticated and targeted, healthcare organizations recognize the importance of safeguarding their APIs. This growth in API security is further fueled by the rise of telehealth and telemedicine, which rely on APIs for remote patient care and data exchange. Additionally, the adoption of cloud-based healthcare solutions and the proliferation of connected medical devices, both reliant on APIs, contribute to the increased focus on protecting these crucial interfaces in the healthcare industry. By region, North America accounts for the highest market size during the forecast period. The North American region accounts for the highest market size due to several key factors, such as stringent regulatory compliance, strong cybersecurity preparedness, collaborative initiatives by market players, increasing cyber threats, and economic and technological advancements. These factors drive the adoption of API solutions and services in the region to protect business and customer data and enhance overall cybersecurity. Key advancements in this field include cloud-based testing, mobile app security testing, and IoT security solutions. In collaboration with industry standards and training initiatives, governments are actively working to enhance application security. Recent Developments In June 2022, Google (Apigee) (US) introduced Apigee Advanced API Security, a robust solution designed to assist customers in addressing their increasing API security requirements. This comprehensive set of API security features is built on Apigee, Google's API management platform. With Advanced API Security, organizations gain enhanced capabilities for detecting and mitigating security threats within their APIs. In July 2022, Salt Security (US) introduced significant enhancements to its advanced API Protection Platform. The updates strengthen threat detection and pre-production API testing capabilities, offering deeper insights into attacker behaviors, visual representations of API call sequences, and the ability to simulate attacks before deploying APIs into production. With these new features, Salt empowers organizations with comprehensive API usage visibility, enhances incident response speed, and improves overall business understanding. In April 2023, Noname (US) partnered strategically with MindPoint Group, a reputable cybersecurity consulting firm. Together, they developed an advanced API security platform in a secure OVA deployment format. This collaboration offers customers a simplified and quick approach to securing their API inventory while ensuring the platform is inherently protected. In March 2022, Imperva (US) introduced Imperva API Security, offering continuous API discovery and data classification. This product ensures data visibility and safeguarding across traditional and cloud-native applications. It can also be used alongside Imperva Cloud Web Application Firewall (WAF) or as a standalone solution, effectively protecting APIs in developer environments prone to security vulnerabilities and unintended exposure. In January 2021, Palo Alto Networks (US) launched Prisma Cloud 2.0, introducing the Web Application and API Security (WAAS) module. This module enables the discovery and protection of web applications and APIs across various clouds, offering customizable OWASP Top 10 protection, API security, and runtime protection. It provides security teams with a single dashboard integrated with the Defender unified agent framework for easy deployment and enabling protection for cloud-native applications. KEY MARKET SEGMENTS By Offering: Platform & Solutions Services By Deployment Mode: On-Premises Cloud Hybrid By Organization Size: SMEs Large Enterprise By Vertical: BFSI IT and ITeS Telecom Government Manufacturing Healthcare Retail and eCommerce Media and Entertainment Energy and Utilities Other Verticals (Transportation and Logistics; Travel and Hospitality; and Research and Academia) By Region: North America Europe Asia Pacific Middle East and Africa Latin America KEY MARKET PLAYERS Google (Apigee) Salt Noname Akamai Data Theorem Axway Imperva Traceable Palo Alto Networks Fortinet Red Hat Airlock by Ergon Akana by Perforce WS02 Forum Systems Cequence Sensidia Spherical Defense Neosec Signal Sciences Firetail Resurface Labs 42Crunch Aiculus Gravitee Nevatech
Customization scope	Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Reap the benefits of customized purchase options to fit your specific research requirements.

Objectives of the Study

To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market

What does this Report Deliver?

Market Estimation for 20+ Countries
Historical data coverage: 2016 to 2022
Growth projections: 2022 to 2028
SkyQuest's premium market insights: Innovation matrix, IP analysis, Production Analysis, Value chain analysis, Technological trends, and Trade analysis
Customization on Segments, Regions, and Company Profiles
100+ tables, 150+ Figures, 10+ matrix
Global and Country Market Trends
Comprehensive Mapping of Industry Parameters
Attractive Investment Proposition
Competitive Strategies Adopted by Leading Market Participants
Market drivers, restraints, opportunities, and its impact on the market
Regulatory scenario, regional dynamics, and insights of leading countries in each region
Segment trends analysis, opportunity, and growth
Opportunity analysis by region and country
Porter's five force analysis to know the market's condition
Pricing analysis
Parent market analysis
Product portfolio benchmarking

Table Of Content

Executive Summary

Market overview

Exhibit: Executive Summary – Chart on Market Overview
Exhibit: Executive Summary – Data Table on Market Overview
Exhibit: Executive Summary – Chart on Application Programming Interface (API) Security Market Characteristics
Exhibit: Executive Summary – Chart on Market by Geography
Exhibit: Executive Summary – Chart on Market Segmentation
Exhibit: Executive Summary – Chart on Incremental Growth
Exhibit: Executive Summary – Data Table on Incremental Growth
Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
  - Drivers
  - Opportunities
  - Restraints
  - Challenges
SWOT Analysis

KEY MARKET INSIGHTS

Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
Macroeconomic Indicators

COVID IMPACT

Introduction
Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
Revised Market Size
- Exhibit: Data Table on Application Programming Interface (API) Security Market size and forecast 2021-2027 ($ million)
Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
  - Drivers
  - Opportunities
  - Restraints
  - Challenges
Regulatory Landscape
- Exhibit: Data Table on regulation from different region
SWOT Analysis
Porters Analysis
- Competitive rivalry
  - Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
  - Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
  - Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
  - Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
  - Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Market Size by Region

Chart on Market share by geography 2021-2027 (%)
Data Table on Market share by geography 2021-2027(%)
North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- France
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- India
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
  - Exhibit: Chart on Market share 2021-2027 (%)
  - Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

Competitive Landscape
- Total number of companies covered
  - Exhibit: companies covered in the report, 2021
- Top companies market positioning
  - Exhibit: company positioning matrix, 2021
- Top companies market Share
  - Exhibit: Pie chart analysis on company market share, 2021(%)
API security market size is projected to grow from USD 744 million in 2023 to USD 3,034 million by 2028 at a Compound Annual Growth Rate (CAGR) of 32.5% during the forecast period. The expansion of the API security market is driven by the rise in API breaches, creating a strong demand for robust API security solutions. These solutions protect applications and integrations, effectively countering evolving risks.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Additionally, the rapid growth of application ecosystems has played a significant role in promoting the adoption of API security measures. Hackers are increasingly targeting APIs due to their widespread usage and access to valuable data, further bolstering the growth of the API security market.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Moreover, ongoing investments and the growing demand for APIs are contributing to the expansion of the API security market. These factors indicate a promising growth trajectory for the market as organizations actively seek improved security and governance measures. Consequently, the demand for API security solutions is expected to witness a significant upsurge shortly.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Application Programming Interface Security
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Driver: APIs have become a prime target for threat actors
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
APIs have become attractive targets for hackers due to their widespread use and access to valuable data. Common attacks on APIs include injection attacks, cross-site scripting, and authentication bypass. However, the focus on securing APIs often overlooks the importance of the authentication process. Static API keys, and long-lived credentials, can lead to vulnerabilities when employees leave an organization. Additionally, certain authentication mechanisms can unintentionally introduce API vulnerabilities. Therefore, APIs should be designed to enforce regular authentication and verify token validity within an identity or secret store. These measures help organizations strengthen API security, reducing the risks of unauthorized access and data breaches.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Restraint: Lack of skilled professionals for implementing API security solutions
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Implementing API security solutions in an organization’s existing infrastructure requires assessing the API’s quality, flexibility, and stability. It is crucial to find a skilled developer with knowledge of software development and current API security trends, which can be time-consuming and costly in hiring and training. Additionally, integrating API security solutions across multiple platforms necessitates expertise and a well-established infrastructure.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Opportunity: Continuous rise in investment across API security vendors
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
The increasing demand for robust protection against data breaches and the recognition of API security as a major challenge for CIOs have led to rising investments in API security solutions. Traditional fragmented solutions are being replaced by more comprehensive and effective options offered by companies like Wib and Salt Security. These investments support innovative teams and technologies that address the growing API security blind spot. They enable API security companies to enhance their offerings, develop new technologies, and expand globally. This demonstrates the market's potential for development, innovation, and the creation of integrated API security platforms to address the critical need for protection in today's digital landscape.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Challenge: Traditional security controls may not provide sufficient protection for APIs
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Traditional security controls like WAFs and SIEM systems are inadequate for securing APIs, as they struggle to detect disguised malicious activities. APIs bypass centralized controls, enabling attackers to exploit vulnerabilities unnoticed. Organizations with multiple data centers and cloud environments face challenges securing high volumes of east-west API traffic. Weak input validation for APIs poses risks to sensitive data. To effectively protect critical information, APIs require tailored security measures to mitigate these issues and enhance their overall security.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
By vertical, the Healthcare segment is to grow at the highest CAGR during the forecast period.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
The widespread adoption of APIs in healthcare enables secure data exchange among different systems and applications. However, this increased usage also expands the potential attack surface for cybercriminals. Moreover, the sensitive nature of patient data, often stored within APIs, makes them an attractive target for hackers aiming to steal information or disrupt healthcare operations. As cyber threats become more sophisticated and targeted, healthcare organizations recognize the importance of safeguarding their APIs. This growth in API security is further fueled by the rise of telehealth and telemedicine, which rely on APIs for remote patient care and data exchange. Additionally, the adoption of cloud-based healthcare solutions and the proliferation of connected medical devices, both reliant on APIs, contribute to the increased focus on protecting these crucial interfaces in the healthcare industry.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
By region, North America accounts for the highest market size during the forecast period.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
The North American region accounts for the highest market size due to several key factors, such as stringent regulatory compliance, strong cybersecurity preparedness, collaborative initiatives by market players, increasing cyber threats, and economic and technological advancements. These factors drive the adoption of API solutions and services in the region to protect business and customer data and enhance overall cybersecurity. Key advancements in this field include cloud-based testing, mobile app security testing, and IoT security solutions. In collaboration with industry standards and training initiatives, governments are actively working to enhance application security.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Recent Developments
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
In June 2022, Google (Apigee) (US) introduced Apigee Advanced API Security, a robust solution designed to assist customers in addressing their increasing API security requirements. This comprehensive set of API security features is built on Apigee, Google's API management platform. With Advanced API Security, organizations gain enhanced capabilities for detecting and mitigating security threats within their APIs.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
In July 2022, Salt Security (US) introduced significant enhancements to its advanced API Protection Platform. The updates strengthen threat detection and pre-production API testing capabilities, offering deeper insights into attacker behaviors, visual representations of API call sequences, and the ability to simulate attacks before deploying APIs into production. With these new features, Salt empowers organizations with comprehensive API usage visibility, enhances incident response speed, and improves overall business understanding.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
In April 2023, Noname (US) partnered strategically with MindPoint Group, a reputable cybersecurity consulting firm. Together, they developed an advanced API security platform in a secure OVA deployment format. This collaboration offers customers a simplified and quick approach to securing their API inventory while ensuring the platform is inherently protected.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
In March 2022, Imperva (US) introduced Imperva API Security, offering continuous API discovery and data classification. This product ensures data visibility and safeguarding across traditional and cloud-native applications. It can also be used alongside Imperva Cloud Web Application Firewall (WAF) or as a standalone solution, effectively protecting APIs in developer environments prone to security vulnerabilities and unintended exposure.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
In January 2021, Palo Alto Networks (US) launched Prisma Cloud 2.0, introducing the Web Application and API Security (WAAS) module. This module enables the discovery and protection of web applications and APIs across various clouds, offering customizable OWASP Top 10 protection, API security, and runtime protection. It provides security teams with a single dashboard integrated with the Defender unified agent framework for easy deployment and enabling protection for cloud-native applications.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
KEY MARKET SEGMENTS
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
By Offering:
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Platform & Solutions
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Services
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
By Deployment Mode:
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
On-Premises
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Cloud
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Hybrid
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
By Organization Size:
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
SMEs
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Large Enterprise
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
By Vertical:
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
BFSI
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
IT and ITeS
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Telecom
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Government
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Manufacturing
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Healthcare
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Retail and eCommerce
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Media and Entertainment
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Energy and Utilities
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Other Verticals (Transportation and Logistics; Travel and Hospitality; and Research and Academia)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
By Region:
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
North America
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Europe
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Asia Pacific
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Middle East and Africa
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Latin America
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
KEY MARKET PLAYERS
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Google (Apigee)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Salt
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Noname
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Akamai
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Data Theorem
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Axway
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Imperva
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Traceable
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Palo Alto Networks
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Fortinet
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Red Hat
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Airlock by Ergon
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Akana by Perforce
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
WS02
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Forum Systems
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Cequence
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Sensidia
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Spherical Defense
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Neosec
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Signal Sciences
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Firetail
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Resurface Labs
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
42Crunch
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Aiculus
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Gravitee
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
Nevatech
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments

Methodology

For the Application Programming Interface (API) Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Application Programming Interface (API) Security Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Application Programming Interface (API) Security Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Application Programming Interface (API) Security Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

Application Programming Interface (API) Security Market Report Snapshots

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FAQs

The market for Application Programming Interface (API) Security was estimated to be valued at US$ XX Mn in 2021.

The Application Programming Interface (API) Security Market is estimated to grow at a CAGR of XX% by 2028.

The Application Programming Interface (API) Security Market is segmented on the basis of Offering:, Deployment Mode:, Organization Size:, Vertical:, Region:.

Based on region, the Application Programming Interface (API) Security Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Application Programming Interface (API) Security Market are API security market size is projected to grow from USD 744 million in 2023 to USD 3,034 million by 2028 at a Compound Annual Growth Rate (CAGR) of 32.5% during the forecast period. The expansion of the API security market is driven by the rise in API breaches, creating a strong demand for robust API security solutions. These solutions protect applications and integrations, effectively countering evolving risks. , Additionally, the rapid growth of application ecosystems has played a significant role in promoting the adoption of API security measures. Hackers are increasingly targeting APIs due to their widespread usage and access to valuable data, further bolstering the growth of the API security market. , Moreover, ongoing investments and the growing demand for APIs are contributing to the expansion of the API security market. These factors indicate a promising growth trajectory for the market as organizations actively seek improved security and governance measures. Consequently, the demand for API security solutions is expected to witness a significant upsurge shortly. , Application Programming Interface Security , Driver: APIs have become a prime target for threat actors , APIs have become attractive targets for hackers due to their widespread use and access to valuable data. Common attacks on APIs include injection attacks, cross-site scripting, and authentication bypass. However, the focus on securing APIs often overlooks the importance of the authentication process. Static API keys, and long-lived credentials, can lead to vulnerabilities when employees leave an organization. Additionally, certain authentication mechanisms can unintentionally introduce API vulnerabilities. Therefore, APIs should be designed to enforce regular authentication and verify token validity within an identity or secret store. These measures help organizations strengthen API security, reducing the risks of unauthorized access and data breaches. , Restraint: Lack of skilled professionals for implementing API security solutions , Implementing API security solutions in an organization’s existing infrastructure requires assessing the API’s quality, flexibility, and stability. It is crucial to find a skilled developer with knowledge of software development and current API security trends, which can be time-consuming and costly in hiring and training. Additionally, integrating API security solutions across multiple platforms necessitates expertise and a well-established infrastructure. , Opportunity: Continuous rise in investment across API security vendors , The increasing demand for robust protection against data breaches and the recognition of API security as a major challenge for CIOs have led to rising investments in API security solutions. Traditional fragmented solutions are being replaced by more comprehensive and effective options offered by companies like Wib and Salt Security. These investments support innovative teams and technologies that address the growing API security blind spot. They enable API security companies to enhance their offerings, develop new technologies, and expand globally. This demonstrates the market's potential for development, innovation, and the creation of integrated API security platforms to address the critical need for protection in today's digital landscape. , Challenge: Traditional security controls may not provide sufficient protection for APIs , Traditional security controls like WAFs and SIEM systems are inadequate for securing APIs, as they struggle to detect disguised malicious activities. APIs bypass centralized controls, enabling attackers to exploit vulnerabilities unnoticed. Organizations with multiple data centers and cloud environments face challenges securing high volumes of east-west API traffic. Weak input validation for APIs poses risks to sensitive data. To effectively protect critical information, APIs require tailored security measures to mitigate these issues and enhance their overall security. , By vertical, the Healthcare segment is to grow at the highest CAGR during the forecast period. , The widespread adoption of APIs in healthcare enables secure data exchange among different systems and applications. However, this increased usage also expands the potential attack surface for cybercriminals. Moreover, the sensitive nature of patient data, often stored within APIs, makes them an attractive target for hackers aiming to steal information or disrupt healthcare operations. As cyber threats become more sophisticated and targeted, healthcare organizations recognize the importance of safeguarding their APIs. This growth in API security is further fueled by the rise of telehealth and telemedicine, which rely on APIs for remote patient care and data exchange. Additionally, the adoption of cloud-based healthcare solutions and the proliferation of connected medical devices, both reliant on APIs, contribute to the increased focus on protecting these crucial interfaces in the healthcare industry. , By region, North America accounts for the highest market size during the forecast period. , The North American region accounts for the highest market size due to several key factors, such as stringent regulatory compliance, strong cybersecurity preparedness, collaborative initiatives by market players, increasing cyber threats, and economic and technological advancements. These factors drive the adoption of API solutions and services in the region to protect business and customer data and enhance overall cybersecurity. Key advancements in this field include cloud-based testing, mobile app security testing, and IoT security solutions. In collaboration with industry standards and training initiatives, governments are actively working to enhance application security. , Recent Developments , In June 2022, Google (Apigee) (US) introduced Apigee Advanced API Security, a robust solution designed to assist customers in addressing their increasing API security requirements. This comprehensive set of API security features is built on Apigee, Google's API management platform. With Advanced API Security, organizations gain enhanced capabilities for detecting and mitigating security threats within their APIs. , In July 2022, Salt Security (US) introduced significant enhancements to its advanced API Protection Platform. The updates strengthen threat detection and pre-production API testing capabilities, offering deeper insights into attacker behaviors, visual representations of API call sequences, and the ability to simulate attacks before deploying APIs into production. With these new features, Salt empowers organizations with comprehensive API usage visibility, enhances incident response speed, and improves overall business understanding. , In April 2023, Noname (US) partnered strategically with MindPoint Group, a reputable cybersecurity consulting firm. Together, they developed an advanced API security platform in a secure OVA deployment format. This collaboration offers customers a simplified and quick approach to securing their API inventory while ensuring the platform is inherently protected. , In March 2022, Imperva (US) introduced Imperva API Security, offering continuous API discovery and data classification. This product ensures data visibility and safeguarding across traditional and cloud-native applications. It can also be used alongside Imperva Cloud Web Application Firewall (WAF) or as a standalone solution, effectively protecting APIs in developer environments prone to security vulnerabilities and unintended exposure. , In January 2021, Palo Alto Networks (US) launched Prisma Cloud 2.0, introducing the Web Application and API Security (WAAS) module. This module enables the discovery and protection of web applications and APIs across various clouds, offering customizable OWASP Top 10 protection, API security, and runtime protection. It provides security teams with a single dashboard integrated with the Defender unified agent framework for easy deployment and enabling protection for cloud-native applications. , KEY MARKET SEGMENTS, By Offering: , Platform & Solutions , Services , By Deployment Mode: , On-Premises , Cloud , Hybrid , By Organization Size: , SMEs , Large Enterprise , By Vertical: , BFSI , IT and ITeS , Telecom , Government , Manufacturing , Healthcare , Retail and eCommerce , Media and Entertainment , Energy and Utilities , Other Verticals (Transportation and Logistics; Travel and Hospitality; and Research and Academia) , By Region: , North America , Europe , Asia Pacific , Middle East and Africa , Latin America , KEY MARKET PLAYERS , Google (Apigee) , Salt , Noname , Akamai , Data Theorem , Axway , Imperva , Traceable , Palo Alto Networks , Fortinet , Red Hat , Airlock by Ergon , Akana by Perforce , WS02 , Forum Systems , Cequence , Sensidia , Spherical Defense , Neosec , Signal Sciences , Firetail , Resurface Labs , 42Crunch , Aiculus , Gravitee , Nevatech.

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Application Programming Interface (API) Security Market

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