API management is the process of creating and publishing web application programming interfaces (APIs), enforcing their usage policies, controlling access, nurturing the subscriber community, collecting and analyzing usage statistics, and reporting on performance.
API Management components provide mechanisms and tools to support developer and subscriber communities.
The gateway can provide the functionality to support authentication, authorization, security, audit and regulatory compliance.
Functionality can also be provided to create synthetic transactions that can be used to test the performance and behavior of API endpoints.
A number of industry analysts have observed that the size of the market for API management solutions has been growing rapidly since the early 2010s.