Blockchain Press Releases
Application Programming Interface (API) Security Market worth $3,034 million by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 6, 2023 /PRNewswire/ –The market for API security is anticipated to keep expanding as companies use APIs for better connectivity and digital transformation. The market will witness developments in security technologies and an emphasis on strong API security solutions because of changing security threats, compliance requirements, and the integration of security into the software development lifecycle.
The global Application Programming Interface (API) Security Market size is projected to grow from USD 744 million in 2023 to USD 3,034 million by 2028 at a Compound Annual Growth Rate (CAGR) of 32.5% during the forecast period, according to a new report by MarketsandMarkets™. The expansion of the API security market is propelled by a significant increase in breaches concerning APIs, rendering them a primary focus for hackers. The rise in applications and the vital role of API security in protecting both applications and integrations have further contributed to this surge. As a result, the demand for robust API security measures has increased, driving the growth of the API security market.
Browse in-depth TOC on “Application Programming Interface (API) Security Market“
300 – Tables
50 – Figures
300 – Pages
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Scope of the Report
|
Report Metrics |
Details |
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Market size available for years |
2017-2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Forecast units |
Value (USD Million/USD Billion) |
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Segments covered |
Offering, Deployment Mode, Organization Size, Vertical, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
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Companies covered |
Major vendors in the global API security market include Google (Apigee) (US), Salt (US), Noname (US), Akamai (US), Theorem (US), Axway (US), Imperva (US), Traceable (US), Palo Alto Networks (US), Fortinet (US), Red Hat (US) and more. |
Based on the deployment type, the hybrid segment is to grow at the highest CAGR during the forecasted period
The API security market is divided into on-premises, hybrid, and cloud deployment modes. The hybrid deployment mode experiences the highest CAGR, offering organizations a comprehensive solution for their API security needs. This mode combines the benefits of cloud and on-premises gateways to provide improved security, reduced attack surface, and protection for sensitive data and applications. It optimizes performance by placing gateways closer to API consumers, enhancing user experience with reduced latency. The hybrid deployment mode also brings flexibility in managing API security, enabling organizations to choose the most suitable gateway types for different environments. Furthermore, it helps organizations reduce costs, ensure compliance with industry regulations, and offer scalability and manageability, making it a favored choice in the API security landscape. Thus, the hybrid deployment mode accounts for the highest CAGR during the forecasted period.
By organization size, small and medium-sized enterprises (SMEs) account for the highest CAGR.
Small and medium-sized enterprises (SMEs) contribute the highest CAGR due to various factors. Adopting APIs on a large scale has allowed SMEs to improve connectivity and streamline data sharing, all while maintaining a strong focus on security. However, the rise in API attacks poses significant risks to SMEs in terms of finance and operations, prompting them to prioritize implementing robust API security measures. SMEs are becoming increasingly aware of potential vulnerabilities and actively incorporating security best practices such as OAuth 2.0 and JSON Web Tokens (JWTs). Furthermore, the availability of comprehensive API security solutions empowers SMEs to effectively protect their APIs by implementing security protocols, continuously monitoring for threats, and swiftly responding to attacks. By driving the demand for such solutions, SMEs play a significant role in shaping the API security market.
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By region, Asia Pacific is to grow at the highest CAGR during the forecast period.
The Asia Pacific region accounts for the highest market size due to several key factors. The region is experiencing rapid growth fueled by adopting cloud computing, mobile devices, and IoT, leading to an increased demand for application security. Initiatives by organizations like APCERT, ACSC, NCCS, and Japan’s Cybersecurity Strategy Council are facilitating coordinated responses, providing resources, releasing guidelines, and promoting research. These efforts align with international organizations such as ISO, OWASP, and CSA. As a result, the Asia Pacific region is anticipated to grow at the highest CAGR during the forecasted period.
Top Key Companies in Application Programming Interface (API) Security Market:
Google (Apigee) (US), Salt (US), Noname (US), Akamai (US), Data Theorem (US), Axway (US), Imperva (US), Traceable (US), Palo Alto Networks (US), Fortinet (US), Red Hat (US), Airlock by Ergon (Switzerland), Akana by Perforce (US), WS02 (UK), Forum Systems (UK), Cequence (US), Sensidia (Brazil), Spherical Defense (US), Neosec (US), Signal Sciences (US), Firetail (US), Resurface Labs (US), 42Crunch (Ireland), Aiculus (Australia), Gravitee (France) and Nevatech (Georgia) are the key players and other players in the API security market.
Recent Developments
- In June 2022, Google (Apigee) (US) introduced Apigee Advanced API Security, a robust solution designed to assist customers in addressing their increasing API security requirements. This comprehensive set of API security features is built on Apigee, Google’s API management platform. With Advanced API Security, organizations gain enhanced capabilities for detecting and mitigating security threats within their APIs.
- In July 2022, Salt Security (US) introduced significant enhancements to its advanced API Protection Platform. The updates strengthen threat detection and pre-production API testing capabilities, offering deeper insights into attacker behaviors, visual representations of API call sequences, and the ability to simulate attacks before deploying APIs into production. With these new features, Salt empowers organizations with comprehensive API usage visibility, enhances incident response speed, and improves overall business understanding.
- In April 2023, Noname (US) partnered strategically with MindPoint Group, a reputable cybersecurity consulting firm. Together, they developed an advanced API security platform in a secure OVA deployment format. This collaboration offers customers a simplified and quick approach to securing their API inventory while ensuring the platform is inherently protected.
- In March 2022, Imperva (US) introduced Imperva API Security, offering continuous API discovery and data classification. This product ensures data visibility and safeguarding across traditional and cloud-native applications. It can also be used alongside Imperva Cloud Web Application Firewall (WAF) or as a standalone solution, effectively protecting APIs in developer environments prone to security vulnerabilities and unintended exposure.
- In January 2021, Palo Alto Networks (US) launched Prisma Cloud 2.0, introducing the Web Application and API Security (WAAS) module. This module enables the discovery and protection of web applications and APIs across various clouds, offering customizable OWASP Top 10 protection, API security, and runtime protection. It provides security teams with a single dashboard integrated with the Defender unified agent framework for easy deployment and enabling protection for cloud-native applications.
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Report Objectives
- To define, describe, and forecast the API security market based on offering, deployment mode, organization size, verticals, and regions
- To define, describe, and forecast the Application Programming Interface (API) security market by offering, deployment mode, organization size, vertical, and region
- To forecast the market size of five main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market
- To provide detailed information related to the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the API security market
- To analyze opportunities in the market for stakeholders by identifying high-growth segments of the API security market
- To profile the key players of the API security market and comprehensively analyze their market size and core competencies in the market
- To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global API security market
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Blockchain Press Releases
Africa Exclusive: Bybit Promotes Crypto Education with P2P Security Webinar
DUBAI, UAE, Nov. 22, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, sets out to raise awareness of P2P security and to equip users with the latest anti-fraud knowledge and tools in a new learn and earn event exclusively for users in Africa. Hosting a P2P security Webinar on Nov. 25, Bybit P2P will also be announcing a prize pool valued at 10,000 USDT for a new Africa-exclusive deposit event.
P2P Security Webinar
On Nov. 25, the live webinar on P2P security will be broadcast in the Bybit Africa Telegram group from 7 to 9PM UTC. Attendees may benefit from a comprehensive session on tips and the latest know-how on asset safety and counterparty risks. The free webinar will cover the following topics:
- Fraud detection: users will learn about signs of common scams and steps to verify payment authenticity.
- Staying safe with Bybit P2P: users get to discover Bybit’s security tools and the latest features to combat fraudulent attempts.
- Trading with confidence: users will gain practical advice and practical tips on how to trade safely.
The floor will be open for a live Q&A session after the sharing by Bybit P2P experts. Ahead of the webinar, attendees are invited to submit questions and the lucky ones will win 10 USDT if their questions are chosen by the speakers.
10,000 USDT Rewards for First-Time Deposits
From Nov. 25 to Dec. 15, 2024, new users who successfully sign up for a Bybit account and complete Identity Verification Level 1 may be eligible to share in a 10,000 USDT prize pool reserved for eligible users in Africa only. Users must sign up for the event and make a deposit via Bybit P2P to qualify and win up to 10 USDT, terms and conditions apply.
“Financial fraud is an age-old challenge and users must stay vigilant as scammers and fraudsters evolve. Bybit is constantly investing in our hardware and software to build the necessary guardrails for our platform. It does not take away the importance of user education, however, and we hope through engagements of this kind, we can help elevate the community on a path of growth,” said Joan Han, Sales and Marketing Director at Bybit.
P2P is an organic part of the crypto economy and helps to promote inclusivity in emerging economies. With Bybit P2P, users of all levels may access the user-friendly peer-to-peer trading platform to trade between themselves at an optimal, agreed-upon price. The service minimizes the need for the middleman, improving cost effectiveness while providing exchange-backed platform security.
Find out more about the event and eligibility at Bybit P2P.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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SINGAPORE, Nov. 22, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a pioneer in digital payment solutions, and Polygon Labs, a software development company building the leading network of aggregated blockchains via the AggLayer, today announced their strategic collaboration aimed at unlocking the full potential of digital finance, focusing on the expansion and adoption of WUSD, WSPN’s flagship stablecoin.
WSPN has integrated Polygon PoS into its WUSD network infrastructure earlier this year. Now, this collaboration will focus on rapidly expanding WUSD adoption. Polygon Labs’s crucial liquidity support will be instrumental in bolstering WUSD’s mass adoption across various markets.
This collaboration will unlock opportunities to explore a range of innovative use cases for stablecoins, payments, and DeFi. Key areas of focus include facilitating payments and tokenization solutions for companies operating in Hong Kong SAR and Singapore, developing on-chain green finance projects tailored for African clients, and building robust DeFi platforms that leverage the strengths of both WSPN and Polygon technologies. These initiatives are strategically designed to address diverse market needs and drive the adoption of WUSD across a variety of regions and sectors.
By combining WSPN’s expertise in stablecoin solutions with Polygon’s advanced blockchain infrastructure, this collaboration will drive significant advancements in the digital asset space, particularly in emerging markets and the rapidly evolving DeFi sector.
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
About Polygon Labs
Polygon Labs is a software development company building and developing a network of aggregated blockchains via the AggLayer, secured by Ethereum. As public infrastructure, the AggLayer will bring together user bases and liquidity for any connected chain, and leverage Ethereum as a settlement layer. Polygon Labs has also contributed to the core development of several widely-adopted scaling protocols and tools for launching blockchains, including Polygon PoS, Polygon zkEVM, and Polygon Miden, which is in development, as well as Polygon CDK.
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DUBAI, UAE, Nov. 21, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to reaffirm its commitment to providing ease of access to digital assets for eligible P2P users in Africa at zero fee. Connecting buyers and sellers at no cost, Bybit P2P continues to be the benchmark for cost-effective and convenient trading experiences.
Since its launch in Jan. 2022, Bybit P2P has consistently provided a user-friendly platform for users seeking a safer way to participate in the digital asset class. The services are offered at no costs for merchants and takers in P2P transactions:
- Merchants: Merchants may post advertisements on Bybit P2P for free.
- Takers: Users may place an order through advertisements listed on the P2P platform at no costs. The offer stands across all fiat trading pairs. Third-party fees may incur depending on the payment method chosen, as the payment providers may charge a transaction fee.
P2P Fee Structure (Africa)
|
Taker Fee (Sell Page) |
Maker Fee (Sell Page) |
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Bybit |
0 % |
0 % |
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Competitor B |
0.5% on completed orders for certain trading pairs |
0 % |
In addition, Bybit has launched an exciting P2P Coupon Giveaway Campaign from now to Jan. 15, 2025. As part of this initiative, users can earn a share of up to 20,000 USDT in rewards by completing tasks such as depositing $100 or trading $50,000 through Bybit P2P. The rewards will be in the form of Bybit P2P coupons to be redeemed in the next purchase, making the zero-fee transactions an even better deal for winners.
“Bybit’s steadfast commitment to contributing to financial inclusion comes in all forms, and keeping our P2P services free for as long as we can, and for as many users as possible, is one of the ways to support the crypto community,” said Joan Han, Sales and Marketing Director at Bybit. “When users come to our platform with the hopes of generating income on their assets, we want to play a supportive role in helping them reach their personal financial goals,” she added.
P2P on Bybit offers an intuitive and cost-effective peer-to-peer trading platform, facilitating the buying and selling of two users’ holdings at an optimal, agreed-upon price between them. With Bybit P2P, users stand to benefit from Bybit’s enterprise-level security and advanced features including comprehensive built-in KYC and KYB verification mechanisms, rigorous asset management protocols, and 24/7 customer service.
Find out more about the event and eligibility at Bybit P2P.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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