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API (Application Programming Interfaces) have emerged as essential tools for integrating data efficiently and cost-effectively. The growth of emerging technologies, such as the Internet of Things (IoT), artificial intelligence (AI), robotics, and blockchain is playing a critical role in the proliferation of APIs. The global API management market size will grow at a Compound Annual Growth Rate (CAGR) of 32.9% during the 2018-2023 forecast period. By 2023, it’ll be valued at $5.5.1 billion, which is a significant rise from the $1 billion in 2018 in 2018.