Find stats on top websites
Industry Landscape
The API Security industry is experiencing rapid growth due to the proliferation of APIs across all sectors. Organizations face increasing threats and regulatory pressures, driving demand for comprehensive, AI-driven solutions that protect the entire API lifecycle from discovery to threat detection and compliance. Shift-left security is also a growing focus.
Total Assets Under Management (AUM)
API Security Market Size in United States
~Estimated at $800 million USD in 2023
(25-30% CAGR)
Growth driven by:
- Increasing API usage in digital transformation.
- Rising sophistication of API attacks.
- Stricter data privacy regulations (e.g., GDPR, CCPA).
Total Addressable Market
Approximately $2.5 billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI (GenAI) in API Security
GenAI will automate threat detection, generate sophisticated attack simulations for testing, and enable more intelligent anomaly detection by learning API traffic patterns.
Homomorphic Encryption (HE) for API Data
HE will allow sensitive API data to be processed and analyzed in its encrypted form, significantly enhancing data privacy and reducing the risk of exposure during API interactions.
Blockchain for Decentralized API Identity & Access
Blockchain can provide immutable, verifiable identities for APIs and their consumers, enabling more secure and transparent access control and logging across distributed systems.
Impactful Policy Frameworks
NIST Cybersecurity Framework 2.0 (2024)
NIST CSF 2.0 expands on the original framework to include governance as a core function and emphasizes supply chain risk management, applicable to all organizations, not just critical infrastructure.
This policy will drive enterprises to enhance their API security postures, particularly concerning third-party API integrations and the entire API lifecycle, to meet broader governance and supply chain risk requirements.
California Privacy Rights Act (CPRA, 2023)
The CPRA enhances the privacy rights of California consumers, including the right to correct personal information and opt-out of sharing, and establishes the California Privacy Protection Agency (CPPA) for enforcement.
Businesses must ensure their APIs handling California consumer data are rigorously secured to prevent unauthorized access and enable data rights fulfillment, necessitating robust API discovery and data mapping capabilities.
SEC Cybersecurity Rule (2023)
This SEC rule requires public companies to disclose material cybersecurity incidents within four business days and to report annually on their cybersecurity risk management, strategy, and governance.
Public companies must implement comprehensive API security measures and incident response plans to rapidly identify, contain, and report API-related breaches to comply with disclosure requirements.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
