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

Description

Persistence Market Research has recently unveiled an in-depth report on the global Application Programming Interface (API) Security Market, offering valuable insights into key market dynamics such as drivers, trends, opportunities, and challenges. The report provides a detailed analysis of the market structure and presents exclusive data and statistics, highlighting the expected 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 API Security market has witnessed rapid expansion as businesses increasingly rely on APIs to facilitate interoperability across digital platforms. While APIs are vital for integration and automation, they also introduce substantial security risks due to potential vulnerabilities that hackers may exploit. This market encompasses tools and solutions aimed at securing APIs from data breaches, cyberattacks, and unauthorized access. The market is segmented based on deployment type (on-premise, cloud), organization size (SMEs, large enterprises), and industry sectors such as IT, healthcare, banking, financial services, insurance (BFSI), and government.

Market Growth Drivers:

The API Security market is propelled by several key factors, including the rising use of APIs in cloud services, mobile applications, and digital transformation efforts across industries. The increasing frequency of cyberattacks targeting APIs, coupled with the surge in data breaches, has heightened the demand for robust API security solutions. Organizations are implementing advanced security measures, including authentication protocols, encryption, and monitoring tools, to protect the integrity of their systems and data. Furthermore, regulatory requirements surrounding data protection and compliance are motivating businesses to prioritize API security to avoid penalties and safeguard customer information.

Market Restraints:

Despite its promising growth potential, the API Security market faces challenges such as the complexity of securing APIs across varied environments and stages of their lifecycle. The shortage of skilled professionals capable of managing API security solutions poses a significant barrier, especially for small and medium-sized enterprises (SMEs). Additionally, the rapid pace of API development, often outpacing security measures, creates vulnerabilities that cybercriminals can exploit. The constantly evolving nature of cyber threats demands ongoing updates and innovations in API security solutions, which can be resource-intensive for organizations.

Market Opportunities:

The API Security market offers considerable opportunities, particularly with the proliferation of the Internet of Things (IoT) and the growing adoption of microservices architectures. The increasing use of API-driven digital ecosystems across sectors like healthcare, e-commerce, and finance presents opportunities for security solutions that protect sensitive data and prevent unauthorized access. Moreover, the development of AI-powered API security tools, capable of detecting abnormal patterns and mitigating threats in real time, represents a significant opportunity for market players. There is also potential for developing security solutions tailored to specific regulatory requirements in emerging markets.

Key Questions Answered in the Report:

Which industries are adopting API security solutions at the fastest pace?
How are emerging technologies, such as AI and machine learning, influencing the future of API security?
Who are the major players in the API security market, and what strategies are they implementing to stay competitive?
What are the current challenges in API security, and how can organizations address them?

Competitive Intelligence and Business Strategy:

Top players in the global API Security market, including Akamai Technologies, Google Cloud, Microsoft, and Salt Security, are focused on continuous innovation, expanding their product portfolios, and enhancing customer service offerings. These companies invest heavily in research and development to incorporate AI and machine learning into their security solutions, improving their ability to detect and address API vulnerabilities. Strategic partnerships and collaborations with cloud service providers, cybersecurity firms, and industry-specific organizations are crucial for expanding market reach and ensuring comprehensive security coverage. Additionally, the emphasis on API security for emerging technologies like 5G, IoT, and microservices architectures is expected to strengthen the competitive position of these key market 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, 2025
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