According to a new report, published by KBV research, The Global Application Programming Interface (API) Security Market size is expected to reach $4.9 billion by 2030, rising at a market growth of 32.0% CAGR during the forecast period.
The Platform & Solutions segment captured maximum revenue in the Global Application Programming Interface (API) Security Market by Offering in 2022; thereby achieving a market value of $3.0 billion by 2030. By offering standards, procedures, and tools, API security solutions let developers create software applications more rapidly and easily. Web-based applications are linked to different platforms and solutions through API solutions, including games, social networks, data repositories, and hardware.
The IT & Telecom segment would witness a CAGR of 30.7% during (2023 - 2030). Mobile network providers don't provide services to end customers; instead, they pass valuable data to third businesses that they monetize using telecom API platforms. It makes its services available to many outside developers and is a significant source of telecom partners. Telecom APIs also allow users to create a complete set of tools for managing the API life cycle.
The Large Enterprises segment is leading the Global Application Programming Interface (API) Security Market by Organization Size in 2022; thereby, achieving a market value of $3.1 billion by 2030. Large enterprises handle enormous volumes of sensitive data, including financial data, intellectual property, and customer-related information. The availability, confidentiality, and integrity of this data are all supported by API security, which guards against misuse, unauthorized usage, and data breaches.
The Cloud segment would register a CAGR of 31.1% during (2023 - 2030). Cloud-based API security solutions may be rapidly scaled up or down to match an organization's changing demands. It is crucial for companies that deal with spikes in API traffic, like those that occur during busy times or marketing campaigns. Solutions for API security that are cloud-based are often easier to use than those that are on-premises.
The North America region dominated the Global Application Programming Interface (API) Security Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.7 billion by 2030. The Europe market is anticipated to grow at a CAGR of 31.5% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 32.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/application-programming-interface-security-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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