Application Programming Interface (API) Security Market by Offering (Platforms & Solutions and Services), Deployment Mode (On-Premises, Hybrid, and Cloud), Organization Size (SMEs and Large Enterprises), Vertical and Region

The global 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 API security market is experiencing significant growth due to a surge in API-related breaches. This has created a strong need for effective API security measures to safeguard applications and integrations, combating evolving risks. APIs play a critical role in facilitating smooth communication and data exchange within application ecosystems, which has also fueled the adoption of robust API security solutions. As hackers increasingly target APIs due to their widespread usage and access to valuable data, the API security market continues to expand.

Furthermore, consistent investments and the rising demand for APIs are driving the growth of the API security market. These factors indicate promising growth prospects as organizations prioritize enhanced security and governance measures. Consequently, there is expected to be substantial growth in the demand for API security solutions in the foreseeable future.

By vertical, the BFSI segment accounts for a larger market share

BFSI is one of the most heavily regulated industries in the world. As a result, businesses in this sector are under constant pressure to protect their sensitive data from cyberattacks. API security is a critical component of any BFSI organization’s cybersecurity strategy. The increasing adoption of cloud-based and microservices-based architectures in the BFSI sector drives the demand for API security solutions. The growing number of connected devices and the rising popularity of mobile banking are also contributing to the growth of the API security market in the BFSI vertical.

By deployment mode, the cloud segment accounts for a larger market share

Cloud deployment mode is gaining traction across the API security market for the following reasons:

Scalability: Cloud-based API security solutions can be scaled up or down quickly to meet the changing needs of an organization. It is essential for businesses that experience spikes in API traffic, such as during peak business hours or marketing campaigns.
Cost-effectiveness: Cloud-based API security solutions are often more cost-effective than on-premises solutions. Cloud providers typically offer a pay-as-you-go pricing model, meaning businesses only pay for the resources they use.
Ease of use: Cloud-based API security solutions are typically more straightforward than on-premises solutions. This is because cloud providers usually offer a user-friendly dashboard that makes it easy to manage API security policies.

Breakdown of primaries

The study contains various industry experts’ insights, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

By Company Type: Tier 1 - 25%, Tier 2 - 40%, and Tier 3 - 35%
By Designation: C-level - 30%, Directors - 35%, and Managers - 35%
By Region: North America - 15%, Europe - 25%, Asia Pacific - 30%, Middle East and Africa - 20%, Latin America - 10%

Major vendors in the global API security market include Google (Apigee) (US), Salt (US), Noname (US), Akamai (US), Data Theorem (US), Axway (US), Imperva (US), Traceable (US), Palo Alto Networks (US), Fortinet (US), Red Hat (US), Airlock by Ergon (Switzerland), Akana by Perforce (US), WS02 (UK), Forum Systems (UK), Cequence (US), Sensidia (Brazil), Spherical Defense (US), Neosec (US), Signal Sciences (US), Firetail (US), Resurface Labs (US), 42Crunch (Ireland), Aiculus (Australia), Gravitee (France) and Nevatech (Georgia).

The study includes an in-depth competitive analysis of the key players in the API security market, their company profiles, recent developments, and key market strategies.

Research Coverage

The report segments the API security market and forecasts its size by offering (Platforms & Solutions and Services), Deployment mode (On-premises, Hybrid, and Cloud), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, IT and ITeS, Telecom, Government, Manufacturing, Healthcare, Retail and eCommerce, Media and Entertainment, Energy and Utilities, and other Verticals), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).

The study also includes an in-depth competitive analysis of the market’s key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall API security market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Surge in breaches involving APIs have fueled the growth of API security, and APIs have become a prime target for threat actors), restraints (Lack of skilled professionals for implementing API security solutions and impact of regulatory constraints on API security solutions), opportunities (Rapid demand of APIs to meet business needs and continuous rise in the investment in API security), and challenges (Traditional security controls may not provide sufficient protection for APIs and safeguarding sensitive data in decentralized architectures through consistent API management and security)
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the API security market.
Market Development: Comprehensive information about lucrative markets - the report analyses the API security market across varied regions.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the API security market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Google (Apigee) (US), Salt (US), Noname (US), Akamai (US), Palo Alto Networks (US), among others in the API security market strategies.

1 Introduction

1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered
1.5 Currency Considered
Table 1 USD Exchange Rates, 2018-2022
1.6 Stakeholders

2 Research Methodology

2.1 Research Data
Figure 1 Global Application Programming Interface Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primary Interviews
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
Figure 2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
Figure 3 Market Size Estimation Methodology - Approach 1 (Supply Side): Revenue of Solutions and Services in API Security Market
Figure 4 Market Size Estimation Methodology Approach 1: Supply-Side Analysis
Figure 5 API Security - Market Estimation Approach: Supply-Side Analysis (Company Revenue Estimation)
Figure 6 Market Size Estimation Methodology Approach 1 - Bottom-Up (Supply Side): Collective Revenue of All Solutions and Services in API Security Market
Figure 7 Market Size Estimation Methodology Approach 2 - Bottom-Up (Demand Side): Products/Solutions/Services
2.4 Market Forecast
Table 2 Factor Analysis
2.5 Recession Impact and Assumptions
2.5.1 Recession Impact
2.5.2 Research Assumptions
2.6 Study Limitations
Figure 8 Study Limitations

3 Executive Summary

Table 3 Application Programming Interface Security Market and Growth Rate, 2017-2022 (USD Million, Y-O-Y %)
Table 4 Market and Growth Rate, 2023-2028 (USD Million, Y-O-Y %)
Figure 9 Global Market and Y-O-Y Growth Rate
Figure 10 North America to Account for Largest Market Share in 2023

4 Premium Insights

4.1 Attractive Market Opportunities in Application Programming Interface Security Market
Figure 11 API Security Offerings to Address Growing Threat Across Web Applications
4.2 Market Share of Top Three Verticals and Regions, 2023
Figure 12 Bfsi Segment and North America to Hold Largest Market Shares in 2023
4.3 Market, by Offering, 2023-2028
Figure 13 Platform and Solutions Segment to Have Larger Market Share During Forecast Period
4.4 Market, by Deployment Mode, 2023-2028
Figure 14 Cloud Segment to Dominate Market in 2023
4.5 Market, by Organization Size, 2023-2028
Figure 15 Large Enterprises Segment to Hold Larger Market Share During Forecast Period
4.6 Application Programming Interface Security Market Investment Scenario, by Region
Figure 16 Asia-Pacific to Emerge as Best Market for Investments by 2028

5 Market Overview and Industry Trends

5.1 Introduction
5.1.1 Types of API
5.1.2 API Protocols and Architectures
5.1.3 Open Web Application Security Project (Owasp): Top 10 API Vulnerabilities in 2023
5.2 Market Dynamics
Figure 17 API Security Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Surge in API Breaches Across Industries
5.2.1.2 Exploitation by Hackers
Figure 18 Underlying Factors Contributing to API Security Incidents
5.2.1.3 Growing Complexity of Ecosystem
5.2.1.4 Need to Safeguard Applications and Protect Sensitive Data
5.2.2 Restraints
5.2.2.1 Impact of Regulatory Restraints
5.2.2.2 Lack of Skilled Professionals
5.2.3 Opportunities
5.2.3.1 Rapid Demand for APIs to Meet Business Needs
5.2.3.2 Increased Awareness and Rising Investments
5.2.4 Challenges
5.2.4.1 Safeguarding Sensitive Data in Decentralized Architectures
5.2.4.2 Traditional Security Controls Limiting Protection Against API Attacks
5.3 Use Cases
5.3.1 Case Study 1: Nov Inc. Implemented Pingintelligence and Axway for Enhanced API Security and Governance
5.3.2 Case Study 2: Ofx Enhanced Application Security with Signal Sciences for API and Microservices Protection
5.3.3 Case Study 3: Paidy Implemented APIsec for Automated API Security Testing, Improving Coverage, and Efficiency
5.3.4 Case Study 4: Threatx Secured Segpay's Apps and APIs with Precision and Visibility
5.3.5 Case Study 5: Data Theorem Assisted Wildflower in Addressing Security Issues and Meeting Customer Demand
5.4 Value Chain Analysis
Figure 19 API Security Market: Value Chain Analysis
5.5 Application Security Market Ecosystem
Figure 20 API Security Market Ecosystem
Table 5 API Security Market: Ecosystem Analysis
5.6 Porter's Five Forces Analysis
Figure 21 API Security Market: Porter's Five Forces Analysis
Table 6 Impact of Porter's Five Forces on API Security Market
5.6.1 Intensity of Competitive Rivalry
5.6.2 Bargaining Power of Suppliers
5.6.3 Bargaining Power of Buyers
5.6.4 Threat of Substitutes
5.6.5 Threat of New Entrants
5.7 Pricing Analysis
Table 7 Pricing/Pricing Models of APIsec
Table 8 Pricing/Pricing Models of Salt Security
Table 9 Pricing/Pricing Models of Imperva
Table 10 Pricing/Pricing Models of Aiculus
Table 11 Pricing/Pricing Models of Wso2
Table 12 Pricing/Pricing Models of Neosec
Table 13 Pricing/Pricing Models of Red Hat
5.8 Technology Analysis
5.8.1 Artificial Intelligence and Machine Learning
5.8.2 API Security Testing Tools
5.8.3 Zero Trust Architecture
5.8.4 Web Application Firewalls (Wafs)
5.8.5 Containerization and Microservices
5.8.6 Behavioral Analytics and Threat Intelligence
5.9 Patent Analysis
Figure 22 Patent Analysis: API Security
5.10 Emerging Trends in API Security Market
Figure 23 Major Ycc Trends to Drive Future Revenue Prospects in API Security Market
5.11 Tariff and Regulatory Landscape
5.11.1 Health Insurance Portability and Accountability Act
5.11.2 Payment Card Industry Data Security Standard
5.11.3 Sarbanes-Oxley Act (Sox)
5.11.4 European Union General Data Protection Regulation
5.11.5 Nis Directive
5.11.6 Regulatory Bodies, Government Agencies, and Other Organizations
Table 14 Regulatory Bodies, Government Agencies, and Other Organizations
5.12 Key Stakeholders and Buying Criteria
5.12.1 Key Stakeholders in Buying Process
Figure 24 Influence of Stakeholders on Buying Process (%)
Table 15 Influence of Stakeholders on Buying Process (%)
5.13 Key Conferences and Events in 2023-2024
Table 16 API Security Market: Key Conferences and Events

6 Application Programming Interface Security Market, by Offering

6.1 Introduction
6.1.1 Offering: API Security Market Drivers
Figure 25 Services Segment to Record Highest Growth Rate During Forecast Period
Table 17 Market, by Offering, 2017-2022 (USD Million)
Table 18 Market, by Offering, 2023-2028 (USD Million)
6.2 Platform and Solutions
6.2.1 Smart Technologies to Mitigate Advanced Cyberattacks
Table 19 Platform and Solutions: Market, by Region, 2017-2022 (USD Million)
Table 20 Platform and Solutions: Market, by Region, 2023-2028 (USD Million)
6.3 Services
6.3.1 Integration and Hybrid Deployment of API Security Services to Propel Growth
Table 21 Services: Market, by Region, 2017-2022 (USD Million)
Table 22 Services: Market, by Region, 2023-2028 (USD Million)
Figure 26 Support and Maintenance Segment to Witness Highest Growth Rate During Forecast Period
Table 23 Market, by Services, 2017-2022 (USD Million)
Table 24 Market, by Services, 2023-2028 (USD Million)
6.3.2 Design and Implementation
Table 25 Design and Implementation: Market, by Region, 2017-2022 (USD Million)
Table 26 Design and Implementation: Market, by Region, 2023-2028 (USD Million)
6.3.3 Consulting, Training, and Education
Table 27 Consulting, Training, and Education: Market, by Region, 2017-2022 (USD Million)
Table 28 Consulting, Training, and Education: Market, by Region, 2023-2028 (USD Million)
6.3.4 Support and Maintenance
Table 29 Support and Maintenance: Market, by Region, 2017-2022 (USD Million)
Table 30 Support and Maintenance: Market, by Region, 2023-2028 (USD Million)

7 Application Programming Interface Security Market, by Deployment Mode

7.1 Introduction
7.1.1 Deployment Mode: API Security Market Drivers
Figure 27 Cloud Deployment Mode Segment to Account for Larger Market During Forecast Period
Table 31 Market, by Deployment Mode, 2017-2022 (USD Million)
Table 32 Market, by Deployment Mode, 2023-2028 (USD Million)
7.2 On-Premises
7.2.1 Customization of On-Premises Solutions to Boost Demand
Table 33 On-Premises: Market, by Region, 2017-2022 (USD Million)
Table 34 On-Premises: Market, by Region, 2023-2028 (USD Million)
7.3 Cloud
7.3.1 Cost Optimization, Scalability, and Flexibility to Drive Demand
Table 35 Cloud: Market, by Region, 2017-2022 (USD Million)
Table 36 Cloud: Market, by Region, 2023-2028 (USD Million)
7.4 Hybrid
7.4.1 Strengthening Hybrid Connectivity Across Enterprises to Drive Demand
Table 37 Hybrid: Market, by Region, 2017-2022 (USD Million)
Table 38 Hybrid: Market, by Region, 2023-2028 (USD Million)

8 Application Programming Interface Security Market, by Organization Size

8.1 Introduction
8.1.1 Organization Size: API Security Market Drivers
Figure 28 Large Enterprises Segment to Account for Largest Market During Forecast Period
Table 39 Market, by Organization Size, 2017-2022 (USD Million)
Table 40 Market, by Organization Size, 2023-2028 (USD Million)
8.2 Small and Medium-Sized Enterprises
8.2.1 Flexibility and Affordability to Boost Sales of Security Solutions
Table 41 Small and Medium-Sized Enterprises: Market, by Region, 2017-2022 (USD Million)
Table 42 Small and Medium-Sized Enterprises: Market, by Region, 2023-2028 (USD Million)
8.3 Large Enterprises
8.3.1 Rising Concerns About Regulatory Compliance to Fuel Adoption
Table 43 Large Enterprises: Market, by Region, 2017-2022 (USD Million)
Table 44 Large Enterprises: Market, by Region, 2023-2028 (USD Million)

9 Application Programming Interface Security Market, by Vertical

9.1 Introduction
9.1.1 Vertical: API Security Market Drivers
Figure 29 Banking, Financial Services, and Insurance Vertical to Dominate Market During Forecast Period
Table 45 Market, by Vertical, 2017-2022 (USD Million)
Table 46 Market, by Vertical, 2023-2028 (USD Million)
9.2 Banking, Financial Services, and Insurance
9.2.1 Rising Demand for Data Protection Services in Banking Companies to Drive Market
Table 47 Banking, Financial Services, and Insurance: Market, by Region, 2017-2022 (USD Million)
Table 48 Banking, Financial Services, and Insurance: Market, by Region, 2023-2028 (USD Million)
9.3 It and Ites
9.3.1 Growing Concerns of Fraud and Compliance to Propel Market
Table 49 It and Ites: Market, by Region, 2017-2022 (USD Million)
Table 50 It and Ites: Market, by Region, 2023-2028 (USD Million)
9.4 Telecom
9.4.1 Advanced Technologies to Help with API Adoption
Table 51 Telecom: Application Programming Interface Security Market, by Region, 2017-2022 (USD Million)
Table 52 Telecom: Market, by Region, 2023-2028 (USD Million)
9.5 Government
9.5.1 Rising Concerns About Identity Theft and Business Fraud to Drive Market
Table 53 Government: Market, by Region, 2017-2022 (USD Million)
Table 54 Government: Market, by Region, 2023-2028 (USD Million)
9.6 Manufacturing
9.6.1 API Security to Boost Managed API Security Infrastructure
Table 55 Manufacturing: Market, by Region, 2017-2022 (USD Million)
Table 56 Manufacturing: Market, by Region, 2023-2028 (USD Million)
9.7 Healthcare
9.7.1 Need to Secure Critical Patient Data Across Cloud Environment to Boost Demand
Table 57 Healthcare: Market, by Region, 2017-2022 (USD Million)
Table 58 Healthcare: Market, by Region, 2023-2028 (USD Million)
9.8 Retail and E-Commerce
9.8.1 Automation Across Retail Channels for Curbing Data Theft to Boost Market
Table 59 Retail and E-Commerce: Market, by Region, 2017-2022 (USD Million)
Table 60 Retail and E-Commerce: Market, by Region, 2023-2028 (USD Million)
9.9 Media and Entertainment
9.9.1 Need to Secure Digital Assets to Fuel Growth
Table 61 Media and Entertainment: Market, by Region, 2017-2022 (USD Million)
Table 62 Media and Entertainment: Market, by Region, 2023-2028 (USD Million)
9.10 Energy and Utilities
9.10.1 Need to Secure Critical Infrastructure to Drive Growth
Table 63 Energy and Utilities: Market, by Region, 2017-2022 (USD Million)
Table 64 Energy and Utilities: Market, by Region, 2023-2028 (USD Million)
9.11 Other Verticals
Table 65 Other Verticals: Market, by Region, 2017-2022 (USD Million)
Table 66 Other Verticals: Market, by Region, 2023-2028 (USD Million)

10 Application Programming Interface (API) Security Market, by Region

10.1 Introduction
Table 67 Application Pr0Gramming Interface Security Market, by Region, 2017-2022 (USD Million)
Table 68 Market, by Region, 2023-2028 (USD Million)
10.2 North America
10.2.1 North America: API Security Market Drivers
10.2.2 North America: Recession Impact
10.2.3 North America: Regulatory Landscape
Figure 31 North America: Application Programming Interface Security Market Snapshot
Table 69 North America: Market, by Offering, 2017-2022 (USD Million)
Table 70 North America: Market, by Offering, 2023-2028 (USD Million)
Table 71 North America: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 72 North America: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 73 North America: Application Programming Interface Market, by Organization Size, 2017-2022 (USD Million)
Table 74 North America: Market, by Organization Size, 2023-2028 (USD Million)
Table 75 North America: Market, by Vertical, 2017-2022 (USD Million)
Table 76 North America: Market, by Vertical, 2023-2028 (USD Million)
Table 77 North America: Market, by Country, 2017-2022 (USD Million)
Table 78 North America: Market, by Country, 2023-2028 (USD Million)
10.2.4 US
10.2.4.1 Rising Cybersecurity Threats and Vulnerabilities to Drive Market
Table 79 US: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 80 US: Market, by Offering, 2023-2028 (USD Million)
Table 81 US: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 82 US: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 83 US: Market, by Organization Size, 2017-2022 (USD Million)
Table 84 US: Market, by Organization Size, 2023-2028 (USD Million)
Table 85 US: Market, by Vertical, 2017-2022 (USD Million)
Table 86 US: Market, by Vertical, 2023-2028 (USD Million)
10.2.5 Canada
10.2.5.1 Growing Digital Landscape to Drive Focus on Robust API Security
Table 87 Canada: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 88 Canada: Market, by Offering, 2023-2028 (USD Million)
Table 89 Canada: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 90 Canada: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 91 Canada: Market, by Organization Size, 2017-2022 (USD Million)
Table 92 Canada: Market, by Organization Size, 2023-2028 (USD Million)
Table 93 Canada: Market, by Vertical, 2017-2022 (USD Million)
Table 94 Canada: Market, by Vertical, 2023-2028 (USD Million)
10.3 Europe
10.3.1 Europe: API Security Market Drivers
10.3.2 Europe: Recession Impact
10.3.3 Europe: Regulatory Landscape
Table 95 Europe: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 96 Europe: Market, by Offering, 2023-2028 (USD Million)
Table 97 Europe: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 98 Europe: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 99 Europe: Market, by Organization Size, 2017-2022 (USD Million)
Table 100 Europe: Market, by Organization Size, 2023-2028 (USD Million)
Table 101 Europe: Market, by Vertical, 2017-2022 (USD Million)
Table 102 Europe: Market, by Vertical, 2023-2028 (USD Million)
Table 103 Europe: Market, by Country, 2017-2022 (USD Million)
Table 104 Europe: Market, by Country, 2023-2028 (USD Million)
10.3.4 United Kingdom
10.3.4.1 Government Initiatives to Drive Adoption of API Security with Comprehensive Guidelines
Table 105 UK: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 106 UK: Market, by Offering, 2023-2028 (USD Million)
Table 107 UK: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 108 UK: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 109 UK: Market, by Organization Size,2017-2022 (USD Million)
Table 110 UK: Market, by Organization Size, 2023-2028 (USD Million)
Table 111 UK: Market, by Vertical, 2017-2022 (USD Million)
Table 112 UK: Market, by Vertical, 2023-2028 (USD Million)
10.3.5 Germany
10.3.5.1 Digitalization and Industrial Growth to Drive Demand
Table 113 Germany: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 114 Germany: Market, by Offering, 2023-2028 (USD Million)
Table 115 Germany: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 116 Germany: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 117 Germany: Market, by Organization Size, 2017-2022 (USD Million)
Table 118 Germany: Market, by Organization Size, 2023-2028 (USD Million)
Table 119 Germany: Market, by Vertical, 2017-2022 (USD Million)
Table 120 Germany: Market, by Vertical, 2023-2028 (USD Million)
10.3.6 France
10.3.6.1 Digital Revolution and E-Commerce to Drive Demand
Table 121 France: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 122 France: Market, by Offering, 2023-2028 (USD Million)
Table 123 France: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 124 France: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 125 France: Market, by Organization Size, 2017-2022 (USD Million)
Table 126 France: Market, by Organization Size, 2023-2028 (USD Million)
Table 127 France: Market, by Vertical, 2017-2022 (USD Million)
Table 128 France: Market, by Vertical, 2023-2028 (USD Million)
10.3.7 Rest of Europe
Table 129 Rest of Europe: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 130 Rest of Europe: Market, by Offering, 2023-2028 (USD Million)
Table 131 Rest of Europe: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 132 Rest of Europe: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 133 Rest of Europe: Market, by Organization Size, 2017-2022 (USD Million)
Table 134 Rest of Europe: Market, by Organization Size, 2023-2028 (USD Million)
Table 135 Rest of Europe: Market, by Vertical, 2017-2022 (USD Million)
Table 136 Rest of Europe: Market, by Vertical, 2023-2028 (USD Million)
10.4 Asia-Pacific
10.4.1 Asia-Pacific: API Security Market Drivers
10.4.2 Asia-Pacific: Recession Impact
10.4.3 Asia-Pacific: Regulatory Landscape
Figure 32 Asia-Pacific: Application Programming Interface Security Market Snapshot
Table 137 Asia-Pacific: Market, by Offering, 2017-2022 (USD Million)
Table 138 Asia-Pacific: Market, by Offering, 2023-2028 (USD Million)
Table 139 Asia-Pacific: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 140 Asia-Pacific: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 141 Asia-Pacific: Market, by Organization Size, 2017-2022 (USD Million)
Table 142 Asia-Pacific: Market, by Organization Size, 2023-2028 (USD Million)
Table 143 Asia-Pacific: Market, by Vertical, 2017-2022 (USD Million)
Table 144 Asia-Pacific: Market, by Vertical, 2023-2028 (USD Million)
Table 145 Asia-Pacific: Market, by Country, 2017-2022 (USD Million)
Table 146 Asia-Pacific: Market, by Country, 2023-2028 (USD Million)
10.4.4 China
10.4.4.1 Digital Economy to Drive Demand
Table 147 China: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 148 China: Market, by Offering, 2023-2028 (USD Million)
Table 149 China: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 150 China: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 151 China: Market, by Organization Size, 2017-2022 (USD Million)
Table 152 China: Market, by Organization Size, 2023-2028 (USD Million)
Table 153 China: Market, by Vertical, 2017-2022 (USD Million)
Table 154 China: Market, by Vertical, 2023-2028 (USD Million)
10.4.5 Japan
10.4.5.1 Cybersecurity Challenges and Digital Infrastructure to Boost Market
Table 155 Japan: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 156 Japan: Market, by Offering, 2023-2028 (USD Million)
Table 157 Japan: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 158 Japan: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 159 Japan: Market, by Organization Size, 2017-2022 (USD Million)
Table 160 Japan: Market, by Organization Size, 2023-2028 (USD Million)
Table 161 Japan: Market, by Vertical, 2017-2022 (USD Million)
Table 162 Japan: Market, by Vertical, 2023-2028 (USD Million)
10.4.6 India
10.4.6.1 Initiatives Taken by Government to Promote API Security
Table 163 India: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 164 India: Market, by Offering, 2023-2028 (USD Million)
Table 165 India: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 166 India: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 167 India: Market, by Organization Size, 2017-2022 (USD Million)
Table 168 India: Market, by Organization Size, 2023-2028 (USD Million)
Table 169 India: Market, by Vertical, 2017-2022 (USD Million)
Table 170 India: Market, by Vertical, 2023-2028 (USD Million)
10.4.7 Rest of Asia-Pacific
Table 171 Rest of Asia-Pacific: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 172 Rest of Asia-Pacific: Market, by Offering, 2023-2028 (USD Million)
Table 173 Rest of Asia-Pacific: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 174 Rest of Asia-Pacific: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 175 Rest of Asia-Pacific: Market, by Organization Size, 2017-2022 (USD Million)
Table 176 Rest of Asia-Pacific: Market, by Organization Size, 2023-2028 (USD Million)
Table 177 Rest of Asia-Pacific: Market, by Vertical, 2017-2022 (USD Million)
Table 178 Rest of Asia-Pacific: Market, by Vertical, 2023-2028 (USD Million)
10.5 Middle East & Africa
10.5.1 Middle East & Africa: API Security Market Drivers
10.5.2 Middle East & Africa: Recession Impact
10.5.3 Middle East & Africa: Regulatory Landscape
Table 179 Middle East & Africa: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 180 Middle East & Africa: Market, by Offering, 2023-2028 (USD Million)
Table 181 Middle East & Africa: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 182 Middle East & Africa: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 183 Middle East & Africa: Market, by Organization Size, 2017-2022 (USD Million)
Table 184 Middle East & Africa: Market, by Organization Size, 2023-2028 (USD Million)
Table 185 Middle East & Africa: Market, by Vertical, 2017-2022 (USD Million)
Table 186 Middle East & Africa: Market, by Vertical, 2023-2028 (USD Million)
Table 187 Middle East & Africa: Market, by Country, 2017-2022 (USD Million)
Table 188 Middle East & Africa: Market, by Country, 2023-2028 (USD Million)
10.5.4 Middle East
10.5.4.1 Cloud Computing and Digital Infrastructure to Drive Demand
Table 189 Middle East: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 190 Middle East: Market, by Offering, 2023-2028 (USD Million)
Table 191 Middle East: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 192 Middle East: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 193 Middle East: Market, by Organization Size, 2017-2022 (USD Million)
Table 194 Middle East: Market, by Organization Size, 2023-2028 (USD Million)
Table 195 Middle East: Market, by Vertical, 2017-2022 (USD Million)
Table 196 Middle East: Market, by Vertical, 2023-2028 (USD Million)
10.5.5 Africa
10.5.5.1 Technological Advancements to Fuel Cloud Services and API Security Growth
Table 197 Africa: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 198 Africa: Market, by Offering, 2023-2028 (USD Million)
Table 199 Africa: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 200 Africa: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 201 Africa: Market, by Organization Size, 2017-2022 (USD Million)
Table 202 Africa: Market, by Organization Size, 2023-2028 (USD Million)
Table 203 Africa: Market, by Vertical, 2017-2022 (USD Million)
Table 204 Africa: Market, by Vertical, 2023-2028 (USD Million)
10.6 Latin America
10.6.1 Latin America: API Security Market Drivers
10.6.2 Latin America: Recession Impact
10.6.3 Latin America: Regulatory Landscape
Table 205 Latin America: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 206 Latin America: Market, by Offering, 2023-2028 (USD Million)
Table 207 Latin America: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 208 Latin America: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 209 Latin America: Market, by Organization Size, 2017-2022 (USD Million)
Table 210 Latin America: Market, by Organization Size, 2023-2028 (USD Million)
Table 211 Latin America: Market, by Vertical, 2017-2022 (USD Million)
Table 212 Latin America: Market, by Vertical,2023-2028 (USD Million)
Table 213 Latin America: Market, by Country, 2017-2022 (USD Million)
Table 214 Latin America: Market, by Country, 2023-2028 (USD Million)
10.6.4 Brazil
10.6.4.1 Evolving Tech Landscape to Boost Demand
Table 215 Brazil: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 216 Brazil: Market, by Offering, 2023-2028 (USD Million)
Table 217 Brazil: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 218 Brazil: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 219 Brazil: Market, by Organization Size, 2017-2022 (USD Million)
Table 220 Brazil: Market, by Organization Size, 2023-2028 (USD Million)
Table 221 Brazil: Market, by Vertical, 2017-2022 (USD Million)
Table 222 Brazil: Market, by Vertical, 2023-2028 (USD Million)
10.6.5 Mexico
10.6.5.1 Strengthening Digital Infrastructure to Boost Demand
Table 223 Mexico: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 224 Mexico: Market, by Offering, 2023-2028 (USD Million)
Table 225 Mexico: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 226 Mexico: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 227 Mexico: Market, by Organization Size, 2017-2022 (USD Million)
Table 228 Mexico: Market, by Organization Size, 2023-2028 (USD Million)
Table 229 Mexico: Market, by Vertical, 2017-2022 (USD Million)
Table 230 Mexico: Market, by Vertical, 2023-2028 (USD Million)
10.6.6 Rest of Latin America
Table 231 Rest of Latin America: Application Programming Interface Security Market, by Offering, 2017-2022 (USD Million)
Table 232 Rest of Latin America: Market, by Offering, 2023-2028 (USD Million)
Table 233 Rest of Latin America: Market, by Deployment Mode, 2017-2022 (USD Million)
Table 234 Rest of Latin America: Market, by Deployment Mode, 2023-2028 (USD Million)
Table 235 Rest of Latin America: Market, by Organization Size, 2017-2022 (USD Million)
Table 236 Rest of Latin America: Market, by Organization Size, 2023-2028 (USD Million)
Table 237 Rest of Latin America: Market, by Vertical, 2017-2022 (USD Million)
Table 238 Rest of Latin America: Market, by Vertical, 2023-2028 (USD Million)

11 Competitive Landscape

11.1 Overview
11.2 Revenue Analysis of Leading Players
Figure 33 Market: Revenue Analysis
11.3 Market Share Analysis of Top Market Players
Table 239 Application Programming Interface Security Market: Degree of Competition
11.4 Historical Revenue Analysis
Figure 34 Application Programming Interface Security Providers: Historical Three-Year Segmental Revenue Analysis of Key Public Sectors
11.5 Ranking of Key Players
Figure 35 Key Players’ Ranking
11.6 Evaluation Matrix for Key Players
11.6.1 Definitions and Methodology
Figure 36 Evaluation Quadrant for Key Players: Criteria Weightage
Figure 37 Evaluation Matrix for Key Players, 2023
11.6.2 Stars
11.6.3 Emerging Leaders
11.6.4 Pervasive Players
11.6.5 Participants
11.7 Competitive Benchmarking
Figure 38 Regional Snapshot of Key Market Players and Their Headquarters
11.7.1 Key Company Evaluation Criteria
Table 240 Key Company Industry Footprint
Table 241 Key Company Region Footprint
11.7.2 Sme/Startup Company Evaluation Criteria
Table 242 Detailed List of Startups
Table 243 Sme/Startup Industry Footprint
Table 244 Sme/Startup Region Footprint
11.8 Sme/Startup Company Evaluation Quadrant
11.8.1 Definitions and Methodology
Figure 39 Evaluation Quadrant for Sme/Startup: Criteria Weightage
Figure 40 Evaluation Matrix for Sme/Startup, 2023
11.8.2 Progressive Companies
11.8.3 Responsive Companies
11.8.4 Dynamic Companies
11.8.5 Starting Blocks
11.9 Valuation and Financial Metrics of API Security Vendors
Figure 41 Valuation and Financial Metrics of Vendors
11.10 Competitive Scenario and Trends
11.10.1 Product Launches and Enhancements
Table 245 Market: Product Launches and Enhancements, 2020-2022
11.10.2 Deals
Table 246 Application Programming Interface Security Market: Deals, 2020-2023

12 Company Profiles

12.1 Key Players
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View)*
12.1.1 Google (APIgee)
Table 247 Google (APIgee): Business Overview
Figure 42 Google (APIgee): Company Snapshot
Table 248 Google (APIgee): Products/Solutions/Services Offered
Table 249 Google (APIgee): Product Launches
12.1.2 Salt Security
Table 250 Salt Security: Business Overview
Table 251 Salt Security: Products/Solutions/Services Offered
Table 252 Salt Security: Product Launches
12.1.3 Noname
Table 253 Noname: Business Overview
Table 254 Noname: Products/Solutions/Services Offered
Table 255 Noname: Product Launches
Table 256 Noname: Deals
12.1.4 Akamai
Table 257 Akamai: Business Overview
Figure 43 Akamai: Company Snapshot
Table 258 Akamai: Products/Solutions/Services Offered
Table 259 Akamai: Deals
12.1.5 Data Theorem
Table 260 Data Theorem: Business Overview
Table 261 Data Theorem: Products/Solutions/Services Offered
12.1.6 Axway
Table 262 Axway: Business Overview
Figure 44 Axway: Company Snapshot
Table 263 Axway: Products/Solutions/Services Offered
12.1.7 Imperva
Table 264 Imperva: Business Overview
Table 265 Imperva: Products/Solutions/Services Offered
Table 266 Imperva: Product Launches
Table 267 Imperva: Deals
12.1.8 Traceable
Table 268 Traceable: Business Overview
Table 269 Traceable: Products/Solutions/Services Offered
12.1.9 Palo Alto Networks
Table 270 Palo Alto Networks: Business Overview
Figure 45 Palo Alto Networks: Company Snapshot
Table 271 Palo Alto Networks: Products/Solutions/Services Offered
Table 272 Palo Alto Networks: Product Launches
12.1.10 Fortinet
Table 273 Fortinet: Business Overview
Figure 46 Fortinet: Company Snapshot
Table 274 Fortinet: Products/Solutions/Services Offered
12.2 Other Players
12.2.1 Red Hat
12.2.2 Airlock by Ergon
12.2.3 Akana by Perforce
12.2.4 Wso2
12.2.5 Forum Systems
12.2.6 Cequence Security
12.2.7 Sensedia
12.2.8 Spherical Defense
12.2.9 Neosec
12.2.10 Signal Sciences
12.2.11 Firetail
12.2.12 Resurface Labs
12.2.13 42Crunch
12.2.14 Aiculus
12.2.15 Gravitee.Io
12.2.16 Nevatech
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies.

13 Adjacent Markets

13.1 Introduction
Table 275 Adjacent Markets and Forecasts
13.2 Limitations
13.3 Application Programming Interface Security Ecosystem and Adjacent Markets
13.4 Web Application Firewall Market
13.4.1 Adjacent Market: Web Application Firewall Market, by Organization Size
Table 276 Web Application Firewall Market, by Organization Size, 2018-2021 (USD Million)
Table 277 Web Application Firewall Market, by Organization Size, 2022-2027 (USD Million)
Table 278 Small and Medium-Sized Enterprises: Web Application Firewall Market, by Region, 2018-2021 (USD Million)
Table 279 Small and Medium-Sized Enterprises: Web Application Firewall Market, by Region, 2022-2027 (USD Million)
Table 280 Large Enterprises: Web Application Firewall Market, by Region, 2018-2021 (USD Million)
Table 281 Large Enterprises: Web Application Firewall Market, by Region, 2022-2027 (USD Million)
13.5 API Management Market
13.5.1 Adjacent Market: API Management Market, by Organization Size
Table 282 API Management Market, by Organization Size, 2016-2020 (USD Million)
Table 283 API Management Market, by Organization Size, 2021-2027 (USD Million)
Table 284 Small and Medium-Sized Enterprises Market, by Region, 2016-2020 (USD Million)
Table 285 Small and Medium-Sized Enterprises Market, by Region, 2021-2027 (USD Million)
Table 286 Large Enterprises Market, by Region, 2016-2020 (USD Million)
Table 287 Large Enterprises Market, by Region, 2021-2027 (USD Million)

14 Appendix

14.1 Discussion Guide
14.2 Knowledgestore: The Subscription Portal
14.3 Customization Options

Companies Mentioned

42Crunch
Akamai
Axway
Airlock by Ergon
Akana by Perforce
Aiculus
Cequence Security
Data Theorem
Fortinet
Forum Systems
Firetail
Google (APIgee)
Gravitee.Io
Imperva
Noname
Neosec
Nevatech
Palo Alto Networks
Red Hat
Resurface Labs
Salt Security
Sensedia
Spherical Defense
Signal Sciences
Traceable
Wso2

Methodology

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Table Information

Report Attribute	Details
No. of Pages	259
Published	July 2023
Forecast Period	2023 - 2028
Estimated Market Value ( USD ) in 2023	$ 744 Million
Forecasted Market Value ( USD ) by 2028	$ 3034 Million
Compound Annual Growth Rate	32.5%
Regions Covered	Global
No. of Companies Mentioned	26

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Application Programming Interface (API) Security Market by Offering (Platforms & Solutions and Services), Deployment Mode (On-Premises, Hybrid, and Cloud), Organization Size (SMEs and Large Enterprises), Vertical and Region - Global Forecast to 2028

By vertical, the BFSI segment accounts for a larger market share

By deployment mode, the cloud segment accounts for a larger market share

Breakdown of primaries

Research Coverage

Key Benefits of Buying the Report

The report provides insights on the following pointers:

Table of Contents

Companies Mentioned

Methodology

Table Information

By vertical, the BFSI segment accounts for a larger market share

By deployment mode, the cloud segment accounts for a larger market share

Breakdown of primaries

Research Coverage

Key Benefits of Buying the Report

The report provides insights on the following pointers:

Table of Contents

Companies Mentioned

Methodology

Table Information

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