Global Application Programming Interface (API) Security Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Application Programming Interface (API) Security Market is estimated to be USD 797.58 Mn in 2023 and is expected to reach USD 2750.11 Mn by 2028 growing at a CAGR of 28.09%.

APIs have become attractive targets for hackers due to their widespread use and access to valuable data. Common attacks on APIs include injection attacks, cross-site scripting, and authentication bypasses. However, the focus on securing APIs often overlooks the importance of the authentication process. Static API keys and long-lived credentials can lead to vulnerabilities when employees leave an organization. Additionally, certain authentication mechanisms can unintentionally introduce API vulnerabilities. Therefore, APIs should be designed to enforce regular authentication and verify token validity within an identity or secret store. These measures help organizations strengthen API security, reducing the risks of unauthorized access and data breaches.

Implementing API security solutions in an organization’s existing infrastructure requires assessing the API’s quality, flexibility, and stability. Finding a skilled developer with knowledge of software development and current API security trends is crucial, which can be time-consuming and costly in hiring and training. Additionally, integrating API security solutions across multiple platforms necessitates expertise and a well-established infrastructure.

Market Segmentations

• The Global Application Programming Interface (API) Security Market is segmented based on Offerings, Deployment Mode, Organization Size, Vertical, and Geography.
• The widespread adoption of APIs in healthcare enables secure data exchange among different systems and applications. However, this increased usage also expands the potential attack surface for cybercriminals. Moreover, the sensitive nature of patient data, often stored within APIs, makes them an attractive target for hackers aiming to steal information or disrupt healthcare operations. As cyber threats become more sophisticated and targeted, healthcare organizations recognize the importance of safeguarding their APIs. This growth in API security is further fueled by the rise of telehealth and telemedicine, which rely on APIs for remote patient care and data exchange. Additionally, the adoption of cloud-based healthcare solutions and the proliferation of connected medical devices, both reliant on APIs, contribute to the increased focus on protecting these crucial interfaces in the healthcare industry.

Recent Development

• Salt Security (US) significantly enhanced its advanced API Protection Platform. The updates strengthen threat detection and pre-production API testing capabilities, offering deeper insights into attacker behavior, visual representations of API call sequences, and the ability to simulate attacks before deploying APIs into production. With these new features, Salt empowers organizations with comprehensive API usage visibility, enhances incident response speed, and improves overall business understanding. - June 2022

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Akamai Technologies, Amazon Web Services (AWS), Apigee, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyse and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Application Programming Interface (API) Security Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Application Programming Interface (API) Security Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Application Programming Interface (API) Security Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market