With the growth in digital transformation, the API management market is set to grow by more than 30% by the year 2025 as more businesses build web APIs and consumers grow to rely on them for everything from mobile apps to customized digital services.
As part of strategic business planning, an API helps generate revenue by allowing customers access to the functionality of a website or computer program through custom applications.
As more and more businesses are implementing APIs, the risk of API attacks increases.
By 2022, Gartner predicted that API (Application Programming Interface) attacks would become the most common attack vector for enterprise web applications.
Cybercriminals are targeting APIs more aggressively than ever before, and businesses must take a proactive approach to API security to combat this new aggression.
API and The Business World
With integrating APIs into modern IT environments, businesses are becoming increasingly data-driven.
Just as a restaurant relies on an excellent chef, and a bandleader is a key to success, businesses increasingly depend on API and API integrations. Half of the online traffic is generated by users searching on companies’ publicly available APIs. All this access is expected to grow by 37% in 2022.
APIs can also be added to existing applications without changing the basic foundation of the software, allowing organizations to quickly develop and deploy a diverse combination of functionalities to suit specific business purposes or user groups without changing the application’s core structure.
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