The March 2023 report provides an overview of the API security market, noting that organizations now average over 20,000 APIs, creating significant attack surfaces and enabling zero-day exploits that have compromised over 1 billion records. CISOs are taking greater control of API risk management, seeking solutions for visibility, runtime protection, and vulnerability remediation. While 80 vendors compete, consolidation is expected, with one-third likely exiting within three years. The market, projected to surpass $400 million in 2023 and $1 billion in five years, is driven by demand for purpose-built solutions and integrated API life cycle management platforms.

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