North America Application Programming Interface (API) Security Market Insights Forecasts to 2032

• The North America Application Programming Interface (API) Security Market Size was valued at USD XX Million in 2022.
• The Market Size is Growing at a CAGR of 33.56% from 2022 to 2032.
• The North America Application Programming Interface (API) Security Market Size is expected to reach XX Million by 2032.

The North America Application Programming Interface (API) Security Market Size is expected to reach USD XX million by 2032, at a CAGR of 33.56% during the forecast period 2022 to 2032.

Market Overview

API is an abbreviation for application programming interface, which is a set of definitions and protocols that allow software components to communicate with one another. The API, which acts as a bridge between software systems, allows software applications or services to share data and functionality. The API provides connectivity infrastructure. It also governs how software applications can communicate and interact with one another. The API governs the types of requests that can be exchanged between meetings, the way demands are made, and which kinds of information are allowed. The rise in API breaches is driving the growth of the API security market, creating a high demand for strong API security solutions. These solutions safeguard applications and integrations, effectively mitigating changing risks. Furthermore, the rapid expansion of application ecosystems has played an important role in promoting the adoption of API security measures. Hackers are increasingly targeting APIs due to their widespread use and access to valuable data, fueling the growth of the API security market. Additionally, ongoing investments and rising API demand are fueling the growth of the API security market. These factors point to a promising market growth trajectory as organizations actively seek improved governance and safety measures.

Report Coverage

This research report categorizes the market for North America application programming interface (API) security market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America application programming interface (API) security market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the North America application programming interface (API) security market.

Driving Factors

The increasing number of cyber-attacks on sensitive information, as well as government strict rules to prevent cyber-attacks, have prompted the API security market's adoption. Automated monitoring and analysis of API traffic, evolving cybersecurity trends, and rising demand for secure public and private APIs are expected to drive the market's future growth. For instance, Google Cloud Division launched an API abuse detection dashboard powered by machine learning algorithms. The new features expand the Apigee Advanced API security dashboard and focus on business logic attacks, which are often difficult to detect and combat. The new ML models are being trained and used by Google's internal teams to protect some of their public-facing APIs. The increased use of advanced analytics to gain more knowledge and its adoption are expected to be significant factors driving the growth of the application programming interfaces (API) security market.

Restraining Factors

To integrate API security solutions into an organization's existing infrastructure, the API's dependability, adaptability, and stability must be evaluated. It is critical to find a qualified developer who is knowledgeable about software development and current API security trends, but hiring and training can be time-consuming and costly. Furthermore, knowledge and a suitable framework are required for integrating API security solutions across multiple platforms. They understand the importance of secure coding practices, threat modeling, and API design guidelines. The lack of suitable people with proper knowledge of API security solutions may cause the market to grow slowly.

Market Segment

• In 2022, the services segment accounted for the largest revenue share over the forecast period.

Based on the offering, the North America application programming interface (API) security market is segmented into platforms & solutions and services. Among these, the services segment has the largest revenue share over the forecast period. API security services are primarily concerned with the security, privacy, and accessibility of application programming interfaces (APIs), which allow interaction and communication between various software systems. API security services ensure the security of data and transactions passing through APIs. These services are designed to reduce the risks and vulnerabilities associated with their use.

• In 2022, the hybrid segment accounted for the largest revenue share over the forecast period.

On the basis of deployment mode, the North America application programming interface (API) security market is segmented into on-premises, hybrid, and cloud. Among these, the hybrid segment has the largest revenue share over the forecast period. it assists organizations in lowering costs, ensuring compliance with industry regulations, and providing scalability and manageability, making it a popular choice in the API security landscape. Furthermore,The hybrid mode combines the advantages of cloud and on-premises gateways to improve security, reduce attack surface, and protect sensitive data and applications. It improves performance by bringing gateways closer to API consumers, resulting in a better user experience with lower latency.

• In 2022, the SMEs segment is expected to hold the largest share of the North America application programming interface (API) security market during the forecast period.          

Based on the organization size, the North America application programming interface (API) security market is classified into SMEs and large enterprises. Among these, the SMEs segment is expected to hold the largest share of the North America application programming interface (API) security market during the forecast period. the rise in API attacks poses significant financial and operational risks to SMEs, prompting them to prioritize implementing robust API security measures. Furthermore, the availability of comprehensive API security solutions enables SMEs to protect their APIs properly by implementing security protocols, continuously monitoring for threats, and responding quickly to attacks. Adoption of APIs on a large scale allowed SMEs to improve connectivity and streamline data sharing while remaining vigilant about security.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America application programming interface (API) security market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Google LLC
• Salt Security Inc.
• Palo Alto Networks, Inc.
• Fortinet, Inc.
• Imperva, Inc.
• Forum Systems
• Traceable Inc
• Data Theorem
• Gravitee Topco Limited

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In December 2022, Salt Security raised $100 million in Series C funding to help it expand its API security platform and accelerate its growth.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the North America application programming interface (API) security market based on the below-mentioned segments:

North America Application Programming Interface (API) Security Market, By Offering

• Platforms & Solutions
• Services

North America Application Programming Interface (API) Security Market, By Deployment Mode

• On-Premises
• Hybrid
• Cloud

North America Application Programming Interface (API) Security Market, By Organization Size

• SMEs
• Large Enterprises

North America Application Programming Interface (API) Security Market, By Country

• United States
• Canada
• Mexico
• Rest of North America