Dublin, April 23, 2024 (GLOBE NEWSWIRE) -- The "Global Application Programming Interface (API) Security Market - Global Industry Size, Share, Trends, Opportunities, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The unprecedented growth in the adoption of digital-driven business models and the integral role of Application Programming Interfaces (APIs) has led to a surge in the Global API Security Market. This expansion, stemming from heightened cyber threats and robust digital transformation efforts, places the market valuation at USD 823 million in 2022, with anticipation to proliferate at a CAGR of 28.54% until 2028F.
In response to the accelerated digital initiatives across industries, the demand for advanced security mechanisms to safeguard APIs is at an all-time high. As APIs become the backbone of data exchange and communication between applications, their security is pivotal in preserving data integrity and the privacy of user information.
Mandatory Regulatory Compliance and Market Trends
The compelling need for organizations to comply with stringent data protection regulations like GDPR and CCPA has significantly influenced the market growth. The API security solutions, therefore, not only need to protect against cyber vulnerabilities but also must ensure compliance with evolving legal requirements. Moreover, trends such as diversification of API applications and the establishment of connected cybersecurity ecosystems further catalyze market development. Innovations in threat detection and response, alongside adaptive access controls, elucidate the market's readiness to fend off sophisticated cyber threats and support secure digital exchanges.
Regional Market Insight
North America has demonstrated market leadership due to its technological advancements and robust digital infrastructure. The region's sprawling tech culture and stringent cybersecurity regulations bolster its dominance, while continuing technological advancements and heightened security awareness secure its position as a premier player in the Global API Security Market.
Future Outlook of the API Security Market
Based on offering, the 'Platforms & Solutions' segment is anticipated to maintain lead, while the 'Cloud' deployment mode is expected to see continued preference due to its flexibility and cost-efficiency. Large enterprises are projected to prominently drive the market forward, given their resource availability to invest in comprehensive security solutions.
The integration of API security within a broad landscape of digital environments and the proactive adoption of advanced security measures promise a resilient and robust market outlook. As digital ecosystems evolve and security threats continue to escalate, the importance of API security remains unequivocally strong within global businesses. Organizations are encouraged to recognize these insights as they continue to enhance their API security strategies, ensuring the steadfast growth of the Global API Security Market through 2028F.
A selection of companies mentioned in this report includes, but is not limited to:
- IBM Corporation
- Akamai Technologies
- Imperva
- Barracuda Networks
- Google LLC
- Microsoft Corporation
- Palo Alto Networks
- Check Point Software Technologies
- Fortinet, Inc.
- Broadcom Inc. (Symantec)
For more information about this report visit https://www.researchandmarkets.com/r/92lv5h
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