The global open API market is expected to generate approximately US$ 19591.4 million by 2033, up from US$ 2794.5 million in 2023, with a CAGR of 21.5% from 2023 to 2033. The demand for open API is expected to grow, owing mostly to features that allow third parties to build applications ‘on top’ of the platform, lowering costs and shortening time-to-market.