Application Programming Interface Security Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024

Description

Persistence Market Research has recently released a comprehensive report on the global Application Programming Interface (API) Security Market. The report offers a thorough assessment of crucial market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure. This research publication presents exclusive data and statistics outlining the anticipated growth trajectory of the global API Security market from 2024 to 2031.

Key Insights:

API Security Market Size (2024E): US$ 0.98 Bn
Projected Market Value (2031F): US$ 4.15 Bn
Global Market Growth Rate (CAGR 2024 to 2031): 24.3%

API Security Market - Report Scope:

The Application Programming Interface (API) Security market has seen rapid growth as organizations increasingly rely on APIs to enable interoperability across digital platforms. APIs, while crucial for integration and automation, also present significant security risks due to potential vulnerabilities that hackers can exploit. The API security market covers tools and solutions designed to protect these interfaces from data breaches, attacks, and unauthorized access. The market is segmented by deployment type (on-premise, cloud), organization size (SMEs, large enterprises), and end-use industries, such as IT, healthcare, banking, financial services, and insurance (BFSI), and government.

Market Growth Drivers:

The API Security market is driven by several key factors, including the increasing use of APIs in cloud services, mobile applications, and digital transformation initiatives across industries. The growing number of cyberattacks targeting APIs, along with the rise in data breaches, has heightened the need for robust API security solutions. Organizations are adopting advanced API security measures such as authentication protocols, encryption, and monitoring tools to ensure the integrity and safety of their data and systems. Moreover, regulatory requirements for data protection and compliance are pushing enterprises to invest in API security to avoid penalties and safeguard customer data.

Market Restraints:

Despite the growth prospects, the API Security market faces challenges such as the complexity of securing APIs in diverse environments and across different stages of their lifecycle. The lack of skilled security professionals to manage API security solutions also poses a challenge for organizations, especially SMEs. Furthermore, the rapid pace of API development, which often outpaces security protocols, exposes vulnerabilities that can be exploited by attackers. The evolving nature of cyber threats requires continuous updates and innovations in API security solutions, which can be a resource-intensive endeavor for companies.

Market Opportunities:

The API Security market presents substantial opportunities, especially with the rise of the Internet of Things (IoT) and the increasing adoption of microservices architectures. The growing trend of API-driven digital ecosystems in industries such as healthcare, e-commerce, and finance opens up avenues for API security solutions that can protect sensitive data and prevent unauthorized access. Additionally, the development of AI-powered API security solutions, which can detect abnormal patterns and mitigate threats in real-time, represents a significant opportunity for market players. There is also an opportunity to develop security solutions that cater to specific regulatory requirements in emerging markets.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the API Security market globally?
Which industries are adopting API security solutions the fastest?
How are emerging technologies, such as AI and machine learning, shaping the future of API security?
Who are the key players contributing to the API security market, and what strategies are they employing to maintain market relevance?
What are the current challenges in API security, and how can organizations mitigate them?

Competitive Intelligence and Business Strategy:

Leading players in the global API Security market, including companies like Akamai Technologies, Google Cloud, Microsoft, and Salt Security, focus on continuous innovation, expanding product portfolios, and enhancing customer service offerings. These companies invest in research and development to integrate AI and machine learning into their security solutions to better identify and respond to API vulnerabilities. Strategic partnerships and collaborations with cloud service providers, cybersecurity firms, and industry-specific organizations are essential for extending market reach and ensuring comprehensive security coverage. Additionally, the emphasis on API security for emerging technologies such as 5G, IoT, and microservices architectures is expected to bolster the market position of these key players.

Key Companies Profiled:

IBM
Imperva
Wallarm
Salt Security
Google
Oracle
Software AG
Axway
MuleSoft
Microsoft
Akana
Moesif
Avanan
Cequence Security
Data Theorem API

Market Segmentation

By Offering

Platform and Solutions
Services

By Vertical

BFSI
Government
IT and Telecom
Manufacturing
Retail and E-commerce
Media and Entertainment
Healthcare
Energy and Utilities

By Application

Large Enterprise
Small and Medium Enterprises

By Deployment Mode

Cloud
On-premise
Hybrid

By Region

North America
Latin America
Europe
South Asia and Oceania
East Asia
Middle East and Africa

Product Code: PMRREP35021

1. Executive Summary

1.1. Global Application Programming Interface Security Market Snapshot, 2024 and 2031
1.2. Market Opportunity Assessment, 2024 - 2031, US$ Bn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global Sectorial Outlook
- 2.3.2. Global GDP Growth Outlook
- 2.3.3. Global Healthcare Spending Outlook
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact

3. Value Added Insights

3.1. Regulatory Landscape
3.2. Product Adoption Analysis
3.3. Value Chain Analysis
3.4. Key Deals and Mergers
3.5. PESTLE Analysis
3.6. Porter's Five Force Analysis

4. Global Application Programming Interface Security Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

4.1. Key Highlights
- 4.1.1. Market Size (US$ Bn ) and Y-o-Y Growth
- 4.1.2. Absolute $ Opportunity
4.2. Market Size (US$ Bn ) Analysis and Forecast
- 4.2.1. Historical Market Size (US$ Bn ) Analysis, 2019 - 2023
- 4.2.2. Current Market Size (US$ Bn ) Analysis and Forecast, 2024 - 2031
4.3. Global Application Programming Interface Security Market Outlook: Offering
- 4.3.1. Introduction / Key Findings
- 4.3.2. Historical Market Size (US$ Bn ) Analysis, By Offering, 2019 - 2023
- 4.3.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
  - 4.3.3.1. Platform and Solutions
  - 4.3.3.2. Services
- 4.3.4. Market Attractiveness Analysis: Offering
4.4. Global Application Programming Interface Security Market Outlook: Vertical
- 4.4.1. Introduction / Key Findings
- 4.4.2. Historical Market Size (US$ Bn ) Analysis, By Vertical, 2019 - 2023
- 4.4.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
  - 4.4.3.1. BFSI
  - 4.4.3.2. Government
  - 4.4.3.3. IT and Telecom
  - 4.4.3.4. Manufacturing
  - 4.4.3.5. Retail and E-commerce
  - 4.4.3.6. Media and Entertainment
  - 4.4.3.7. Healthcare
  - 4.4.3.8. Energy and Utilities
  - 4.4.3.9. Others
- 4.4.4. Market Attractiveness Analysis: Vertical
4.5. Global Application Programming Interface Security Market Outlook: Application
- 4.5.1. Introduction / Key Findings
- 4.5.2. Historical Market Size (US$ Bn ) Analysis, By Application, 2019 - 2023
- 4.5.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Application, 2024 - 2031
  - 4.5.3.1. Large Enterprises
  - 4.5.3.2. Small and Medium Enterprises
- 4.5.4. Market Attractiveness Analysis: Application
4.6. Global Application Programming Interface Security Market Outlook: Deployment Mode
- 4.6.1. Introduction / Key Findings
- 4.6.2. Historical Market Size (US$ Bn ) Analysis, By Deployment Mode, 2019 - 2023
- 4.6.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment Mode, 2024 - 2031
  - 4.6.3.1. Cloud
  - 4.6.3.2. On-premise
  - 4.6.3.3. Hybrid
- 4.6.4. Market Attractiveness Analysis: Deployment Mode

5. Global Application Programming Interface Security Market Outlook: Region

5.1. Key Highlights
5.2. Historical Market Size (US$ Bn ) Analysis, By Region, 2019 - 2023
5.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Region, 2024 - 2031
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. East Asia
- 5.3.4. South Asia and Oceania
- 5.3.5. Latin America
- 5.3.6. Middle East & Africa
5.4. Market Attractiveness Analysis: Region

6. North America Application Programming Interface Security Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

6.1. Key Highlights
6.2. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 6.2.1. By Country
- 6.2.2. By Offering
- 6.2.3. By Vertical
- 6.2.4. By Application
- 6.2.5. By Deployment Mode
6.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 6.3.1. U.S.
- 6.3.2. Canada
6.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 6.4.1. Platform and Solutions
- 6.4.2. Services
6.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 6.5.1. BFSI
- 6.5.2. Government
- 6.5.3. IT and Telecom
- 6.5.4. Manufacturing
- 6.5.5. Retail and E-commerce
- 6.5.6. Media and Entertainment
- 6.5.7. Healthcare
- 6.5.8. Energy and Utilities
- 6.5.9. Others
6.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Application, 2024 - 2031
- 6.6.1. Large Enterprises
- 6.6.2. Small and Medium Enterprises
6.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment Mode, 2024 - 2031
- 6.7.1. Cloud
- 6.7.2. On-premise
- 6.7.3. Hybrid
6.8. Market Attractiveness Analysis

7. Europe Application Programming Interface Security Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

7.1. Key Highlights
7.2. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 7.2.1. By Country
- 7.2.2. By Offering
- 7.2.3. By Vertical
- 7.2.4. By Application
- 7.2.5. By Deployment Mode
7.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 7.3.1. Germany
- 7.3.2. France
- 7.3.3. U.K.
- 7.3.4. Italy
- 7.3.5. Spain
- 7.3.6. Russia
- 7.3.7. Turkey
- 7.3.8. Rest of Europe
7.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 7.4.1. Platform and Solutions
- 7.4.2. Services
7.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 7.5.1. BFSI
- 7.5.2. Government
- 7.5.3. IT and Telecom
- 7.5.4. Manufacturing
- 7.5.5. Retail and E-commerce
- 7.5.6. Media and Entertainment
- 7.5.7. Healthcare
- 7.5.8. Energy and Utilities
- 7.5.9. Others
7.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Application, 2024 - 2031
- 7.6.1. Large Enterprises
- 7.6.2. Small and Medium Enterprises
7.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment Mode, 2024 - 2031
- 7.7.1. Cloud
- 7.7.2. On-premise
- 7.7.3. Hybrid
7.8. Market Attractiveness Analysis

8. East Asia Application Programming Interface Security Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

8.1. Key Highlights
8.2. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 8.2.1. By Country
- 8.2.2. By Offering
- 8.2.3. By Vertical
- 8.2.4. By Application
- 8.2.5. By Deployment Mode
8.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 8.3.1. China
- 8.3.2. Japan
- 8.3.3. South Korea
8.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 8.4.1. Platform and Solutions
- 8.4.2. Services
8.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 8.5.1. BFSI
- 8.5.2. Government
- 8.5.3. IT and Telecom
- 8.5.4. Manufacturing
- 8.5.5. Retail and E-commerce
- 8.5.6. Media and Entertainment
- 8.5.7. Healthcare
- 8.5.8. Energy and Utilities
- 8.5.9. Others
8.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Application, 2024 - 2031
- 8.6.1. Large Enterprises
- 8.6.2. Small and Medium Enterprises
8.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment Mode, 2024 - 2031
- 8.7.1. Cloud
- 8.7.2. On-premise
- 8.7.3. Hybrid
8.8. Market Attractiveness Analysis

9. South Asia & Oceania Application Programming Interface Security Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

9.1. Key Highlights
9.2. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 9.2.1. By Country
- 9.2.2. By Offering
- 9.2.3. By Vertical
- 9.2.4. By Application
- 9.2.5. By Deployment Mode
9.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 9.3.1. India
- 9.3.2. Southeast Asia
- 9.3.3. ANZ
- 9.3.4. Rest of South Asia & Oceania
9.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 9.4.1. Platform and Solutions
- 9.4.2. Services
9.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 9.5.1. BFSI
- 9.5.2. Government
- 9.5.3. IT and Telecom
- 9.5.4. Manufacturing
- 9.5.5. Retail and E-commerce
- 9.5.6. Media and Entertainment
- 9.5.7. Healthcare
- 9.5.8. Energy and Utilities
- 9.5.9. Others
9.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Application, 2024 - 2031
- 9.6.1. Large Enterprises
- 9.6.2. Small and Medium Enterprises
9.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment Mode, 2024 - 2031
- 9.7.1. Cloud
- 9.7.2. On-premise
- 9.7.3. Hybrid
9.8. Market Attractiveness Analysis

10. Latin America Application Programming Interface Security Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

10.1. Key Highlights
10.2. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 10.2.1. By Country
- 10.2.2. By Offering
- 10.2.3. By Vertical
- 10.2.4. By Application
- 10.2.5. By Deployment Mode
10.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 10.3.1. Brazil
- 10.3.2. Mexico
- 10.3.3. Rest of Latin America
10.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 10.4.1. Platform and Solutions
- 10.4.2. Services
10.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 10.5.1. BFSI
- 10.5.2. Government
- 10.5.3. IT and Telecom
- 10.5.4. Manufacturing
- 10.5.5. Retail and E-commerce
- 10.5.6. Media and Entertainment
- 10.5.7. Healthcare
- 10.5.8. Energy and Utilities
- 10.5.9. Others
10.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Application, 2024 - 2031
- 10.6.1. Large Enterprises
- 10.6.2. Small and Medium Enterprises
10.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment Mode, 2024 - 2031
- 10.7.1. Cloud
- 10.7.2. On-premise
- 10.7.3. Hybrid
10.8. Market Attractiveness Analysis

11. Middle East & Africa Application Programming Interface Security Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

11.1. Key Highlights
11.2. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 11.2.1. By Country
- 11.2.2. By Offering
- 11.2.3. By Vertical
- 11.2.4. By Application
- 11.2.5. By Deployment Mode
11.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 11.3.1. GCC Countries
- 11.3.2. Egypt
- 11.3.3. South Africa
- 11.3.4. Northern Africa
- 11.3.5. Rest of Middle East & Africa
11.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 11.4.1. Platform and Solutions
- 11.4.2. Services
11.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 11.5.1. BFSI
- 11.5.2. Government
- 11.5.3. IT and Telecom
- 11.5.4. Manufacturing
- 11.5.5. Retail and E-commerce
- 11.5.6. Media and Entertainment
- 11.5.7. Healthcare
- 11.5.8. Energy and Utilities
- 11.5.9. Others
11.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Application, 2024 - 2031
- 11.6.1. Large Enterprises
- 11.6.2. Small and Medium Enterprises
11.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment Mode, 2024 - 2031
- 11.7.1. Cloud
- 11.7.2. On-premise
- 11.7.3. Hybrid
11.8. Market Attractiveness Analysis

12. Competition Landscape

12.1. Market Share Analysis, 2023
12.2. Market Structure
- 12.2.1. Competition Intensity Mapping By Market
- 12.2.2. Competition Dashboard
12.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 12.3.1. IBM
  - 12.3.1.1. Overview
  - 12.3.1.2. Segments and Products
  - 12.3.1.3. Key Financials
  - 12.3.1.4. Market Developments
  - 12.3.1.5. Market Strategy
- 12.3.2. Imperva
- 12.3.3. Wallarm
- 12.3.4. Salt Security
- 12.3.5. Google
- 12.3.6. Oracle
- 12.3.7. Software AG
- 12.3.8. Axway
- 12.3.9. MuleSoft
- 12.3.10. Microsoft
- 12.3.11. Akana
- 12.3.12. Moesif
- 12.3.13. Avanan
- 12.3.14. Cequence Security
- 12.3.15. Data Theorem API

13. Appendix

13.1. Research Methodology
13.2. Research Assumptions
13.3. Acronyms and Abbreviations

Application Programming Interface Security Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024 - 2031