Often considered the poster child of digital transformation, APIs are proliferating at enterprises making industry-leading investments in mobile, IoT, and big data. As these initiatives mature, CIOs, CTOs, and heads of development are coming together with business leaders to manage and secure companywide use of APIs using API management solutions.

Forrester recently released a report that sizes and projects annual spending on API management solutions. We predict US companies alone will spend nearly $3 billion on API management over the next five years. Annual spend will quadruple by the end of the decade, from $140 million in 2014 to $660 million in 2020. International sales will take the global market over the billion dollar mark.

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