Application Programming Interface (API) Security Market Size - By Offering (Solution, Services), By Enterprise Size (Large Enterprises, SMEs), By Deployment Model (Cloud, On-Premises), Industry Vertical & Global Forecast, 2023 - 2032

Application Programming Interface (API) Security Market Size - By Offering (Solution, Services), By Enterprise Size (Large Enterprises, SMEs), By Deployment Model (Cloud, On-Premises), Industry Vertical & Global Forecast, 2023 - 2032

Application Programming Interface (API) Security Market size is anticipated to expand at 29.9% CAGR from 2023 and 2032, driven by escalating adoption in the current digital landscape worldwide. Of late, several organizations are incurring daunting challenges of securing their APIs against cyber threats to protect sensitive data and maintain operational integrity.

To counter these risks, API security solutions have emerged as critical components, further compelling industry players to focus on R&D activities for the development of advanced API solutions and services. For instance, in April 2023, F5, Inc. FFIV, launched its new AI-powered application and app API security features to give clients full protection and control when managing applications and APIs across on-premises, cloud, and edge locations.

The overall application programming interface security industry is bifurcated as per offering, enterprise size, deployment model, industry vertical, and region.

With respect to offering, the market size from the solution segment is anticipated to witness momentum between 2023 and 2032. The increasing reliance on APIs by organizations to facilitate data exchange and streamline processes has propelled the need for comprehensive security solutions. Additionally, the rising awareness of the potential risks associated with APIs coupled with stringent compliance requirements will further drive the segment expansion.

API security industry is poised to witness significant growth from the IT and telecom industry vertical segment through 2032. APIs enable seamless communication and data exchange between various systems and applications. Furthermore, with the IT and telecom industry constantly evolving and expanding, the need for robust API security solutions is surging to protect sensitive data, ensure compliance, and safeguard against cyber threats.

Regionally, Asia Pacific application programming interface security market is anticipated to experience rapid growth through 2032. The increasing adoption of digital technologies, cloud services, and mobile applications across diverse industries has surged the need for securing APIs to protect sensitive data and ensure compliance. The thriving e-commerce, finance, and IT sectors in the region rely heavily on APIs for connectivity, further creating favorable environment for the market players. To cite an instance, in June 2023, Internet Initiative Japan Inc., a prominent internet access and network solutions provider added a new API security service, Safous WAAP, to its Safous zero-trust security service package. The influx of regulatory frameworks and data protection laws have also reinforced the need for robust API security solutions, further contributing to the regional industry growth.