Application Programming Interface (API) Security Market by Offering (Platforms & Solutions and Services), Deployment Mode (On-Premises, Hybrid, and Cloud), Organization Size (SMEs and Large Enterprises), Vertical and Region - Global Forecast to 2028

Abstract
The global 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. The API security market is experiencing significant growth due to a surge in API-related breaches.

This has created a strong need for effective API security measures to safeguard applications and integrations, combating evolving risks. APIs play a critical role in facilitating smooth communication and data exchange within application ecosystems, which has also fueled the adoption of robust API security solutions. As hackers increasingly target APIs due to their widespread usage and access to valuable data, the API security market continues to expand.

Furthermore, consistent investments and the rising demand for APIs are driving the growth of the API security market. These factors indicate promising growth prospects as organizations prioritize enhanced security and governance measures. Consequently, there is expected to be substantial growth in the demand for API security solutions in the foreseeable future.

By vertical, the BFSI segment accounts for a larger market share.

BFSI is one of the most heavily regulated industries in the world. As a result, businesses in this sector are under constant pressure to protect their sensitive data from cyberattacks. API security is a critical component of any BFSI organization’s cybersecurity strategy. The increasing adoption of cloud-based and microservices-based architectures in the BFSI sector drives the demand for API security solutions. The growing number of connected devices and the rising popularity of mobile banking are also contributing to the growth of the API security market in the BFSI vertical.
 
By deployment mode, the cloud segment accounts for a larger market share

Cloud deployment mode is gaining traction across the API security market for the following reasons:
•Scalability: Cloud-based API security solutions can be scaled up or down quickly to meet the changing needs of an organization. It is essential for businesses that experience spikes in API traffic, such as during peak business hours or marketing campaigns.
•Cost-effectiveness: Cloud-based API security solutions are often more cost-effective than on-premises solutions. Cloud providers typically offer a pay-as-you-go pricing model, meaning businesses only pay for the resources they use.
•Ease of use: Cloud-based API security solutions are typically more straightforward than on-premises solutions. This is because cloud providers usually offer a user-friendly dashboard that makes it easy to manage API security policies.

Breakdown of primaries
The study contains various industry experts’ insights, from component suppliers to Tier 1 companies and OEMs.

The break-up of the primaries is as follows:
•By Company Type: Tier 1 – 25%, Tier 2 – 40%, and Tier 3 – 35%
•By Designation: C-level – 30%, Directors – 35%, and Managers – 35%
•By Region: North America – 15%, Europe – 25%, Asia Pacific – 30%, Middle East and Africa – 20%, Latin America – 10%

Major vendors in the global API security market include 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).

The study includes an in-depth competitive analysis of the key players in the API security market, their company profiles, recent developments, and key market strategies.

Research Coverage
The report segments the API security market and forecasts its size by offering (Platforms & Solutions and Services), Deployment mode (On-premises, Hybrid, and Cloud), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, IT and ITeS, Telecom, Government, Manufacturing, Healthcare, Retail and eCommerce, Media and Entertainment, Energy and Utilities, and other Verticals), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).
The study also includes an in-depth competitive analysis of the market’s key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall API security market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
•Analysis of key drivers (Surge in breaches involving APIs have fueled the growth of API security, and APIs have become a prime target for threat actors), restraints (Lack of skilled professionals for implementing API security solutions and impact of regulatory constraints on API security solutions), opportunities (Rapid demand of APIs to meet business needs and continuous rise in the investment in API security), and challenges (Traditional security controls may not provide sufficient protection for APIs and safeguarding sensitive data in decentralized architectures through consistent API management and security)
•Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the API security market.
•Market Development: Comprehensive information about lucrative markets – the report analyses the API security market across varied regions.
•Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the API security market.
•Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Google (Apigee) (US), Salt (US), Noname (US), Akamai (US), Palo Alto Networks (US), among others in the API security market strategies.

Content
Table of Contents

1INTRODUCTION28
1.1STUDY OBJECTIVES28
1.2MARKET DEFINITION28
1.2.1INCLUSIONS AND EXCLUSIONS29
1.3MARKET SCOPE29
1.3.1MARKET SEGMENTATION29
1.3.2REGIONS COVERED30
1.4YEARS CONSIDERED30
1.5CURRENCY CONSIDERED31
TABLE 1USD EXCHANGE RATES, 2018–202231
1.6STAKEHOLDERS31
2RESEARCH METHODOLOGY32
2.1RESEARCH DATA32
FIGURE 1GLOBAL APPLICATION PROGRAMMING INTERFACE MARKET: RESEARCH DESIGN33
2.1.1SECONDARY DATA33
2.1.2PRIMARY DATA34
2.1.2.1Breakdown of primary interviews35
2.1.2.2Key industry insights35
2.2MARKET BREAKUP AND DATA TRIANGULATION36
FIGURE 2MARKET BREAKUP AND DATA TRIANGULATION36
2.3MARKET SIZE ESTIMATION37
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY— APPROACH 1 (SUPPLY SIDE): REVENUE OF SOLUTIONS AND SERVICES IN API SECURITY MARKET37
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY APPROACH 1: SUPPLY-SIDE ANALYSIS38
FIGURE 5API SECURITY— MARKET ESTIMATION APPROACH: SUPPLY-SIDE ANALYSIS (COMPANY REVENUE ESTIMATION)38
FIGURE 6MARKET SIZE ESTIMATION METHODOLOGY APPROACH 1— BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF ALL SOLUTIONS AND SERVICES IN API SECURITY MARKET39
FIGURE 7MARKET SIZE ESTIMATION METHODOLOGY APPROACH 2— BOTTOM-UP (DEMAND SIDE): PRODUCTS/SOLUTIONS/SERVICES40
2.4MARKET FORECAST41
TABLE 2FACTOR ANALYSIS41
2.5RECESSION IMPACT AND ASSUMPTIONS42
2.5.1RECESSION IMPACT42
2.5.2RESEARCH ASSUMPTIONS42
 
2.6STUDY LIMITATIONS43
FIGURE 8STUDY LIMITATIONS43
3EXECUTIVE SUMMARY44
TABLE 3APPLICATION PROGRAMMING INTERFACE SECURITY MARKET AND GROWTH RATE, 2017–2022 (USD MILLION, Y-O-Y %)45
TABLE 4APPLICATION PROGRAMMING INTERFACE SECURITY MARKET AND GROWTH RATE, 2023–2028 (USD MILLION, Y-O-Y %)45
FIGURE 9GLOBAL APPLICATION PROGRAMMING INTERFACE SECURITY MARKET AND Y-O-Y GROWTH RATE46
FIGURE 10NORTH AMERICA TO ACCOUNT FOR LARGEST MARKET SHARE IN 202346
4PREMIUM INSIGHTS48
4.1ATTRACTIVE MARKET OPPORTUNITIES IN APPLICATION PROGRAMMING INTERFACE SECURITY MARKET48
FIGURE 11API SECURITY OFFERINGS TO ADDRESS GROWING THREAT ACROSS WEB APPLICATIONS48
4.2APPLICATION PROGRAMMING INTERFACE SECURITY MARKET SHARE OF TOP THREE VERTICALS AND REGIONS, 202349
FIGURE 12BFSI SEGMENT AND NORTH AMERICA TO HOLD LARGEST MARKET SHARES IN 202349
4.3APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–202849
FIGURE 13PLATFORM AND SOLUTIONS SEGMENT TO HAVE LARGER MARKET SHARE DURING FORECAST PERIOD49
4.4APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–202850
FIGURE 14CLOUD SEGMENT TO DOMINATE MARKET IN 202350
4.5APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–202850
FIGURE 15LARGE ENTERPRISES SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD50
4.6APPLICATION PROGRAMMING INTERFACE SECURITY MARKET INVESTMENT SCENARIO, BY REGION51
FIGURE 16ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENTS BY 202851
5MARKET OVERVIEW AND INDUSTRY TRENDS52
5.1INTRODUCTION52
5.1.1TYPES OF API52
5.1.2API PROTOCOLS AND ARCHITECTURES52
5.1.3OPEN WEB APPLICATION SECURITY PROJECT (OWASP): TOP 10 API VULNERABILITIES IN 202353
5.2MARKET DYNAMICS54
FIGURE 17API SECURITY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES54
5.2.1DRIVERS55
5.2.1.1Surge in API breaches across industries55
5.2.1.2Exploitation by hackers55
FIGURE 18UNDERLYING FACTORS CONTRIBUTING TO API SECURITY INCIDENTS55
5.2.1.3Growing complexity of ecosystem56
5.2.1.4Need to safeguard applications and protect sensitive data56
5.2.2RESTRAINTS56
5.2.2.1Impact of regulatory restraints56
5.2.2.2Lack of skilled professionals57
5.2.3OPPORTUNITIES57
5.2.3.1Rapid demand for APIs to meet business needs57
5.2.3.2Increased awareness and rising investments57
5.2.4CHALLENGES58
5.2.4.1Safeguarding sensitive data in decentralized architectures58
5.2.4.2Traditional security controls limiting protection against API attacks58
5.3USE CASES58
5.3.1CASE STUDY 1: NOV INC. IMPLEMENTED PINGINTELLIGENCE AND AXWAY FOR ENHANCED API SECURITY AND GOVERNANCE59
5.3.2CASE STUDY 2: OFX ENHANCED APPLICATION SECURITY WITH SIGNAL SCIENCES FOR API AND MICROSERVICES PROTECTION59
5.3.3CASE STUDY 3: PAIDY IMPLEMENTED APISEC FOR AUTOMATED API SECURITY TESTING, IMPROVING COVERAGE, AND EFFICIENCY60
5.3.4CASE STUDY 4: THREATX SECURED SEGPAY'S APPS AND APIS WITH PRECISION AND VISIBILITY61
5.3.5CASE STUDY 5: DATA THEOREM ASSISTED WILDFLOWER IN ADDRESSING SECURITY ISSUES AND MEETING CUSTOMER DEMAND61
5.4VALUE CHAIN ANALYSIS62
FIGURE 19API SECURITY MARKET: VALUE CHAIN ANALYSIS62
5.5APPLICATION SECURITY MARKET ECOSYSTEM63
FIGURE 20API SECURITY MARKET ECOSYSTEM63
TABLE 5API SECURITY MARKET: ECOSYSTEM ANALYSIS64
5.6PORTER’S FIVE FORCES ANALYSIS65
FIGURE 21API SECURITY MARKET: PORTER’S FIVE FORCES ANALYSIS65
TABLE 6IMPACT OF PORTER’S FIVE FORCES ON API SECURITY MARKET65
5.6.1INTENSITY OF COMPETITIVE RIVALRY66
5.6.2BARGAINING POWER OF SUPPLIERS66
5.6.3BARGAINING POWER OF BUYERS66
5.6.4THREAT OF SUBSTITUTES66
5.6.5THREAT OF NEW ENTRANTS66
5.7PRICING ANALYSIS67
TABLE 7PRICING/PRICING MODELS OF APISEC67
TABLE 8PRICING/PRICING MODELS OF SALT SECURITY68
TABLE 9PRICING/PRICING MODELS OF IMPERVA68
TABLE 10PRICING/PRICING MODELS OF AICULUS69
TABLE 11PRICING/PRICING MODELS OF WSO269
TABLE 12PRICING/PRICING MODELS OF NEOSEC70
TABLE 13PRICING/PRICING MODELS OF RED HAT70
5.8TECHNOLOGY ANALYSIS70
5.8.1ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING71
5.8.2API SECURITY TESTING TOOLS71
5.8.3ZERO TRUST ARCHITECTURE71
5.8.4WEB APPLICATION FIREWALLS (WAFS)72
5.8.5CONTAINERIZATION AND MICROSERVICES72
5.8.6BEHAVIORAL ANALYTICS AND THREAT INTELLIGENCE72
5.9PATENT ANALYSIS73
FIGURE 22PATENT ANALYSIS: API SECURITY73
5.10EMERGING TRENDS IN API SECURITY MARKET74
FIGURE 23MAJOR YCC TRENDS TO DRIVE FUTURE REVENUE PROSPECTS IN API SECURITY MARKET74
5.11TARIFF AND REGULATORY LANDSCAPE74
5.11.1HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT74
5.11.2PAYMENT CARD INDUSTRY DATA SECURITY STANDARD75
5.11.3SARBANES-OXLEY ACT (SOX)75
5.11.4EUROPEAN UNION GENERAL DATA PROTECTION REGULATION75
5.11.5NIS DIRECTIVE76
5.11.6REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS76
TABLE 14REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS76
5.12KEY STAKEHOLDERS AND BUYING CRITERIA77
5.12.1KEY STAKEHOLDERS IN BUYING PROCESS77
FIGURE 24INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS (%)77
TABLE 15INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS (%)78
5.13KEY CONFERENCES AND EVENTS IN 2023–202478
TABLE 16API SECURITY MARKET: KEY CONFERENCES AND EVENTS78
6APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING81
6.1INTRODUCTION82
6.1.1OFFERING: API SECURITY MARKET DRIVERS82
FIGURE 25SERVICES SEGMENT TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD82
TABLE 17APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)83
TABLE 18APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)83
6.2PLATFORM AND SOLUTIONS83
6.2.1SMART TECHNOLOGIES TO MITIGATE ADVANCED CYBERATTACKS83
TABLE 19PLATFORM AND SOLUTIONS: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)84
TABLE 20PLATFORM AND SOLUTIONS: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)84
6.3SERVICES85
6.3.1INTEGRATION AND HYBRID DEPLOYMENT OF API SECURITY SERVICES TO PROPEL GROWTH85
TABLE 21SERVICES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)86
TABLE 22SERVICES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)86
FIGURE 26SUPPORT AND MAINTENANCE SEGMENT TO WITNESS HIGHEST GROWTH RATE DURING FORECAST PERIOD86
TABLE 23APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY SERVICES, 2017–2022 (USD MILLION)87
TABLE 24APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY SERVICES, 2023–2028 (USD MILLION)87
6.3.2DESIGN AND IMPLEMENTATION87
TABLE 25DESIGN AND IMPLEMENTATION: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)87
TABLE 26DESIGN AND IMPLEMENTATION: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)88
6.3.3CONSULTING, TRAINING, AND EDUCATION88
TABLE 27CONSULTING, TRAINING, AND EDUCATION: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)88
TABLE 28CONSULTING, TRAINING, AND EDUCATION: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)89
6.3.4SUPPORT AND MAINTENANCE89
TABLE 29SUPPORT AND MAINTENANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)90
TABLE 30SUPPORT AND MAINTENANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)90
7APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE91
7.1INTRODUCTION92
7.1.1DEPLOYMENT MODE: API SECURITY MARKET DRIVERS92
FIGURE 27CLOUD DEPLOYMENT MODE SEGMENT TO ACCOUNT FOR LARGER MARKET DURING FORECAST PERIOD93
TABLE 31APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)93
TABLE 32APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)93
7.2ON-PREMISES94
7.2.1CUSTOMIZATION OF ON-PREMISES SOLUTIONS TO BOOST DEMAND94
TABLE 33ON-PREMISES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)94
TABLE 34ON-PREMISES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)94
7.3CLOUD95
7.3.1COST OPTIMIZATION, SCALABILITY, AND FLEXIBILITY TO DRIVE DEMAND95
TABLE 35CLOUD: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)95
TABLE 36CLOUD: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)95
7.4HYBRID96
7.4.1STRENGTHENING HYBRID CONNECTIVITY ACROSS ENTERPRISES TO DRIVE DEMAND96
TABLE 37HYBRID: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)96
TABLE 38HYBRID: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)96
8APPLICATION PROGRAMMING INTERFACE SECURITY MARKET,
BY ORGANIZATION SIZE97
8.1INTRODUCTION98
8.1.1ORGANIZATION SIZE: API SECURITY MARKET DRIVERS98
FIGURE 28LARGE ENTERPRISES SEGMENT TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD98
TABLE 39APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)99
TABLE 40APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)99
8.2SMALL AND MEDIUM-SIZED ENTERPRISES99
8.2.1FLEXIBILITY AND AFFORDABILITY TO BOOST SALES OF SECURITY SOLUTIONS99
TABLE 41SMALL AND MEDIUM-SIZED ENTERPRISES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)100
TABLE 42SMALL AND MEDIUM-SIZED ENTERPRISES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)100
8.3LARGE ENTERPRISES100
8.3.1RISING CONCERNS ABOUT REGULATORY COMPLIANCE TO FUEL ADOPTION100
TABLE 43LARGE ENTERPRISES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)101
TABLE 44LARGE ENTERPRISES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)101
9APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL102
9.1INTRODUCTION103
9.1.1VERTICAL: API SECURITY MARKET DRIVERS103
FIGURE 29BANKING, FINANCIAL SERVICES, AND INSURANCE VERTICAL TO DOMINATE MARKET DURING FORECAST PERIOD103
TABLE 45APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)104
TABLE 46APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)104
9.2BANKING, FINANCIAL SERVICES, AND INSURANCE105
9.2.1RISING DEMAND FOR DATA PROTECTION SERVICES IN BANKING COMPANIES TO DRIVE MARKET105
TABLE 47BANKING, FINANCIAL SERVICES, AND INSURANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)105
TABLE 48BANKING, FINANCIAL SERVICES, AND INSURANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)105
9.3IT AND ITES106
9.3.1GROWING CONCERNS OF FRAUD AND COMPLIANCE TO PROPEL MARKET106
TABLE 49IT AND ITES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)106
TABLE 50IT AND ITES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)106
9.4TELECOM107
9.4.1ADVANCED TECHNOLOGIES TO HELP WITH API ADOPTION107
TABLE 51TELECOM: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)107
TABLE 52TELECOM: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)107
9.5GOVERNMENT108
9.5.1RISING CONCERNS ABOUT IDENTITY THEFT AND BUSINESS FRAUD TO DRIVE MARKET108
TABLE 53GOVERNMENT: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)108
TABLE 54GOVERNMENT: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)108
9.6MANUFACTURING109
9.6.1API SECURITY TO BOOST MANAGED API SECURITY INFRASTRUCTURE109
TABLE 55MANUFACTURING: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)109
TABLE 56MANUFACTURING: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)109
9.7HEALTHCARE110
9.7.1NEED TO SECURE CRITICAL PATIENT DATA ACROSS CLOUD ENVIRONMENT TO BOOST DEMAND110
TABLE 57HEALTHCARE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)110
TABLE 58HEALTHCARE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)110
9.8RETAIL AND E-COMMERCE111
9.8.1AUTOMATION ACROSS RETAIL CHANNELS FOR CURBING DATA THEFT TO BOOST MARKET111
TABLE 59RETAIL AND E-COMMERCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)111
TABLE 60RETAIL AND E-COMMERCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)111
9.9MEDIA AND ENTERTAINMENT112
9.9.1NEED TO SECURE DIGITAL ASSETS TO FUEL GROWTH112
TABLE 61MEDIA AND ENTERTAINMENT: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)112
TABLE 62MEDIA AND ENTERTAINMENT: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)112
9.10ENERGY AND UTILITIES113
9.10.1NEED TO SECURE CRITICAL INFRASTRUCTURE TO DRIVE GROWTH113
TABLE 63ENERGY AND UTILITIES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)114
TABLE 64ENERGY AND UTILITIES: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)114
9.11OTHER VERTICALS114
TABLE 65OTHER VERTICALS: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)115
TABLE 66OTHER VERTICALS: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)115
10APPLICATION PROGRAMMING INTERFACE (API) SECURITY MARKET,
BY REGION116
10.1INTRODUCTION117
TABLE 67APPLICATION PR0GRAMMING INTERFACE SECURITY MARKET, BY REGION, 2017–2022 (USD MILLION)117
TABLE 68APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)118
10.2NORTH AMERICA118
10.2.1NORTH AMERICA: API SECURITY MARKET DRIVERS118
10.2.2NORTH AMERICA: RECESSION IMPACT119
10.2.3NORTH AMERICA: REGULATORY LANDSCAPE119
FIGURE 31NORTH AMERICA: MARKET SNAPSHOT120
TABLE 69NORTH AMERICA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)120
TABLE 70NORTH AMERICA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)121
TABLE 71NORTH AMERICA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)121
TABLE 72NORTH AMERICA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)121
TABLE 73NORTH AMERICA: APPLICATION PROGRAMMING INTERFACE MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)121
TABLE 74NORTH AMERICA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)122
TABLE 75NORTH AMERICA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)122
TABLE 76NORTH AMERICA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)123
TABLE 77NORTH AMERICA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY COUNTRY, 2017–2022 (USD MILLION)123
TABLE 78NORTH AMERICA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)123
10.2.4US124
10.2.4.1Rising cybersecurity threats and vulnerabilities to drive market124
TABLE 79US: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)124
TABLE 80US: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)124
TABLE 81US: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)124
TABLE 82US: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)125
TABLE 83US: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)125
TABLE 84US: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)125
TABLE 85US: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)126
TABLE 86US: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)126
10.2.5CANADA127
10.2.5.1Growing digital landscape to drive focus on robust api security127
TABLE 87CANADA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)127
TABLE 88CANADA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)127
TABLE 89CANADA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)128
TABLE 90CANADA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)128
TABLE 91CANADA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)128
TABLE 92CANADA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)128
TABLE 93CANADA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)129
TABLE 94CANADA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)129
10.3EUROPE130
10.3.1EUROPE: API SECURITY MARKET DRIVERS130
10.3.2EUROPE: RECESSION IMPACT131
10.3.3EUROPE: REGULATORY LANDSCAPE131
TABLE 95EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)131
TABLE 96EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)132
TABLE 97EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)132
TABLE 98EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)132
TABLE 99EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)132
TABLE 100EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)133
TABLE 101EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)133
TABLE 102EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)134
TABLE 103EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY COUNTRY, 2017–2022 (USD MILLION)134
TABLE 104EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)134
10.3.4UNITED KINGDOM135
10.3.4.1Government initiatives to drive adoption of API security with comprehensive guidelines135
TABLE 105UK: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)135
TABLE 106UK: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)135
TABLE 107UK: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)135
TABLE 108UK: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)136
TABLE 109UK: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE,2017–2022 (USD MILLION)136
TABLE 110UK: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)136
TABLE 111UK: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)137
TABLE 112UK: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)137
10.3.5GERMANY138
10.3.5.1Digitalization and industrial growth to drive demand138
TABLE 113GERMANY: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)138
TABLE 114GERMANY: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)138
TABLE 115GERMANY: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)138
TABLE 116GERMANY: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)139
TABLE 117GERMANY: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)139
TABLE 118GERMANY: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)139
TABLE 119GERMANY: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)140
TABLE 120GERMANY: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)140
10.3.6FRANCE141
10.3.6.1Digital revolution and e-commerce to drive demand141
TABLE 121FRANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)141
TABLE 122FRANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)141
TABLE 123FRANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)141
TABLE 124FRANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)142
TABLE 125FRANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)142
TABLE 126FRANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)142
TABLE 127FRANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)143
TABLE 128FRANCE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)143
10.3.7REST OF EUROPE144
TABLE 129REST OF EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)144
TABLE 130REST OF EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)144
TABLE 131REST OF EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)145
TABLE 132REST OF EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)145
TABLE 133REST OF EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)145
TABLE 134REST OF EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)145
TABLE 135REST OF EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)146
TABLE 136REST OF EUROPE: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)146
10.4ASIA PACIFIC147
10.4.1ASIA PACIFIC: API SECURITY MARKET DRIVERS147
10.4.2ASIA PACIFIC: RECESSION IMPACT147
10.4.3ASIA PACIFIC: REGULATORY LANDSCAPE148
FIGURE 32ASIA PACIFIC: MARKET SNAPSHOT149
TABLE 137ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)149
TABLE 138ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)150
TABLE 139ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)150
TABLE 140ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)150
TABLE 141ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)150
TABLE 142ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)151
TABLE 143ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)151
TABLE 144ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)152
TABLE 145ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY COUNTRY, 2017–2022 (USD MILLION)152
TABLE 146ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)152
10.4.4CHINA153
10.4.4.1Digital economy to drive demand153
TABLE 147CHINA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)153
TABLE 148CHINA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)153
TABLE 149CHINA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)153
TABLE 150CHINA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)154
TABLE 151CHINA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)154
TABLE 152CHINA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)154
TABLE 153CHINA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)155
TABLE 154CHINA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)155
10.4.5JAPAN156
10.4.5.1Cybersecurity challenges and digital infrastructure to boost market156
TABLE 155JAPAN: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)156
TABLE 156JAPAN: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)156
TABLE 157JAPAN: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)157
TABLE 158JAPAN: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)157
TABLE 159JAPAN: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)157
TABLE 160JAPAN: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)157
TABLE 161JAPAN: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)158
TABLE 162JAPAN: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)158
10.4.6INDIA159
10.4.6.1Initiatives taken by government to promote api security159
TABLE 163INDIA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)159
TABLE 164INDIA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)159
TABLE 165INDIA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)160
TABLE 166INDIA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)160
TABLE 167INDIA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)160
TABLE 168INDIA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)160
TABLE 169INDIA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)161
TABLE 170INDIA: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)161
10.4.7REST OF ASIA PACIFIC162
TABLE 171REST OF ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2017–2022 (USD MILLION)162
TABLE 172REST OF ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)162
TABLE 173REST OF ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION)162
TABLE 174REST OF ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION)163
TABLE 175REST OF ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2017–2022 (USD MILLION)163
TABLE 176REST OF ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)163
TABLE 177REST OF ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2017–2022 (USD MILLION)164
TABLE 178REST OF ASIA PACIFIC: APPLICATION PROGRAMMING INTERFACE SECURITY MARKET, BY VERTICAL, 2023–2028 (USD MILLION)164