The Europe Application Programming Interface (API) Security Market would witness market growth of 31.5% CAGR during the forecast period (2023-2030).
Software program interaction and collaboration become easier through application program interfaces (API). It is a collection of tools and protocols for creating software and apps. It helps the organization monitor the interface's lifecycle and ensure the application requirement. Many industries use API security, including banking, financial services, insurance, retail & online sales, IT & telecommunications, media & entertainment, healthcare, manufacturing, and government. The demand for API testing will rise along with the market growth as more people become aware of the many advantages of application programming interface (API) security, including protection from malware and breakage.
When an API is destroyed, hacked, or exploited; sensitive financial, medical, and personal information might become accessible. Therefore, security is the highest priority while creating restful and other APIs. Additionally, backend system hacking is another way APIs could be misused. An API with weak security could become the target of various assaults. For instance, a DDoS attack could significantly harm an API endpoint's performance or render it inaccessible. Competitors or aggregators may acquire and steal data from an API that serves data. Attacks using inventory-denying methods might be directed against an API used for online shopping. Enterprises now place a greater emphasis on API security. As a result, more people are using APIs to connect, transport, and offer services.
The APIs4DGov study reflects the European Commission's interest in thoroughly examining cutting-edge approaches to enhance the delivery & connectivity of public services and the reusability of public sector data, including dynamic data in real-time while preserving privacy and security of data concerns. Identifying the added value of digital government APIs for society and public administrations (addresses key enablers, drivers, barriers, potential risks, and mitigating actions), this study evaluates the landscape of digital government APIs and opportunities to support the digital transformation of the public sector. It also defines a fundamental Digital Government API EU framework. The market in this region is anticipated to expand as initiatives toward digital government and digital care in healthcare gain popularity in European nations.
The Germany market dominated the Europe Application Programming Interface (API) Security Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $314 million by 2030. The UK market is exhibiting a CAGR of 30.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 32.5% during (2023 - 2030).
Based on Offering, the market is segmented into Platform & Solutions and Services. Based on Vertical, the market is segmented into BFSI, Government, IT & Telecom, Manufacturing, Retail & Ecommerce, Media & Entertainment, Healthcare, Energy & Utilities, and Others. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Mode, the market is segmented into Cloud, On-premise and Hybrid. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Application Programming Interface (API) Security Market is Projected to reach USD 4.9 Billion by 2030, at a CAGR of 32%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC (Alphabet Inc.), Salt Security Inc., Noname Security, Akamai Technologies, Inc., Data Theorem, Inc., Axway Software SA, Imperva, Inc., Traceable Inc., Palo Alto Networks, Inc. and Fortinet, Inc.
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