API Management platforms expose, secure, monetize, and govern APIs across the full lifecycle — design, publish, version, secure, monitor, retire. Core capabilities include an API gateway (rate limiting, auth, request/response transformation, caching), a developer portal for API documentation and onboarding, API versioning and lifecycle management, usage analytics, monetization (subscriptions, quotas, billing), and governance workflows (design-time review, contract testing, deprecation). The category spans enterprise API platforms (Apigee, MuleSoft, WSO2, IBM API Connect) and cloud-native alternatives (Kong, AWS API Gateway, Azure API Management, Tyk, Gravitee).