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The State of the API Security Market.
2023 Report Sponsored by Traceable This report covers current trends in the API security market, how security has become central to managing APIs, the tools available to instrument that security, the growth of the market, and security impacts in key industry verticals.
The Rise of APIs
Over the past decade, APIs have become ubiquitous as a a mainstream software design approach. Traditional industries including banking and finance, insurance, government, healthcare, and energy and utilities sectors are all modernizing their IT systems into API-enabled architectures driven primarily by cloud native serverless and microservices architectures.
Not all API threat management solutions are created equal despite having similar capabilities. It’s important then to take a view of the market from the perspective of functional requirements that an organization might define prior to evaluating solutions in this space.
This follows 2021, the highest year for investment since investments in API security tooling began being tracked in 2018.
API Security Across Verticals
APIs are increasingly used in all globally distributed application architectures, global digital open ecosystems, and all types of apps and digital products and services.