The Application Programming Interface Security market size will reach $799.9 million in 10 years, from $523.4 million in 2023. Rising cybersecurity threats drive market growth. Asia Pacific has emerged as the world’s largest application programming interface security market with a market revenue share of 38.9% in 2023.
NEWARK, April 17, 2024 (Globe Newswire) — Brainy Insights estimates the US$523.4 million application programming interface security market will reach US$799.9 million by 2033. Masu. Software known as an application programming interface (API) enables communication between two applications. . With the growth of the Internet of Things and the increasing amount of sensitive data being transferred over the Internet, the use of APIs is increasing. Two-step or three-step verification uses basic authentication methods like usernames and passwords to protect this data from hackers and increase the security of your API. The API security system verifies whether a user can access the database and prohibits changes to the database. The adoption of the API security market is driven by the rise in cyber-attacks targeting sensitive data and strict government regulations to prevent cyber-attacks. The global API Security market study provides a comprehensive analysis of the industry. The study thoroughly examines the key market segments, trends, drivers, restraints, competitive environment, and other factors significantly impacting the market.
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Key insights into the application programming interface security market
Asia Pacific region will account for the largest market size during the forecast period.
Perhaps APAC will present lucrative opportunities for API management vendors, as APAC organizations use APIs to improve the essential elements of success in the application economy. APIs can help overcome language barriers by providing translation services for a variety of applications, such as customer care and website localization. Many APAC organizations are moving to cloud-based API solutions to meet their needs. Cloud service providers such as Microsoft Azure, Amazon Web Services Inc., and Google Cloud offer easily accessible, robust, and secure API management solutions.
The services sector dominated the market with the most significant revenue of USD 308.8 million.
The services sector dominated the market with the most significant revenue of USD 308.8 million. API security requires expertise in identifying and mitigating the various risks associated with APIs. In this space, service providers often focus on API security and provide a level of technical expertise that private companies require internal support.
The cloud segment dominated the market with the most significant revenue of $293.1 million.
The cloud segment dominated the market with the most significant revenue of $293.1 million. Cloud-based services provide more flexible and scalable access to solutions at a lower total cost. Cloud-based API management solutions are used by enterprises to shorten API development cycles and improve mobility.
Large corporate segment dominated the market with the most significant revenue of USD 277.4 million.
Large corporate segment dominated the market with the most significant revenue of USD 277.4 million. Robust API security testing, including code inspection, attack detection, and vulnerability assessment, is adopted by large enterprises. These tests help identify security gaps and other weaknesses in the API and the programs that use the API.
The IT & Telecommunications sector dominated the market with the most significant revenue of $109.9 million.
The IT & Telecommunications sector dominated the market with the most significant revenue of $109.9 million. Telcos widely use APIs to manage their networks. These APIs control quality of service (QoS), navigation, and network performance. Security is very important for network management APIs to avoid unauthorized access and potential network failures.
Complete Table of Contents Global Application Programming Interface Security Market Report 2024-2033 available at https://www.thebrainyinsights.com/report/application-programming-interface-security-market-14158.
Market dynamics:
Factor: Increase in cyber attacks
The adoption of the API security market is driven by the rise in cyber-attacks targeting sensitive data and strict government regulations to prevent cyber-attacks. This market is expected to grow due to rising cybersecurity trends, automated monitoring and analysis of API traffic, and growing demand for secure public and private APIs.
Constraints: Complexity of API management solutions
Implementing an API management solution can be costly and complex. Small and medium-sized enterprises (SMEs) may have a hard time getting started because of this cost and complexity.
Opportunity: Growing demand for secure and reliable API management solutions
As enterprises become more dependent on APIs, the need for reliable and secure API management solutions grows. API management solutions help businesses control access to APIs, secure and track API functionality.
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The major players operating in the application programming interface security market include::
● Broadcom (Symantec)
● Check Point Software Technology Co., Ltd.
●FireEye Co., Ltd.
●IBM Co., Ltd.
●Logrhythm Co., Ltd.
● Palo Alto Networks, Inc.
●Sophos Corporation
●BAE Systems Co., Ltd.
●Centrify Co., Ltd.
● Cisco Systems Corporation
● Fortinet Corporation
●Lockheed Martin Corporation
● McAfee Corporation.
●Proof Point Co., Ltd.
● Trend Micro Co., Ltd.
The main segments cover the following markets:
By providing:
●Service
● Platforms and solutions
By deployment:
● Cloud
● On-premises
By company size:
● Large company
● Small businesses
Vertical direction:
●BFSI
● Healthcare
● Government
● IT/Communication
● Retail and e-commerce
● Education
●Manufacturing industry
●Others
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About the report:
The global Application Programming Interface Security market is analyzed on the basis of value (US$ million). All segments are analyzed on global, regional and country basis. The study includes analysis of more than 30 countries in each part. The report offers an in-depth analysis of drivers, opportunities, restraints, and challenges to gain key market insights. This research includes Porter’s Five Forces Model, attractiveness analysis, raw materials analysis, demand and supply analysis, competitive position grid analysis, distribution, and marketing channel analysis.
About Brainy Insights:
The Brainy Insights is a market research company that aims to provide actionable insights to improve business acumen for companies through data analysis. We have robust predictive and estimation models to help our clients achieve their goals of achieving high-quality results in a short period of time. We offer both customized (client-specific) and syndicated reports. The repository of syndicated reports is diverse across all categories and subcategories across domains. Our customized solutions are tailored to meet our clients’ requirements, whether they are looking to expand in global markets or planning to launch a new product.
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