API Management is the process of designing, publishing, documenting, securing, and analyzing Application Programming Interfaces (APIs) in a secure and scalable environment. It encompasses the entire API lifecycle, using a set of tools and strategies to control access, enforce usage policies like rate limiting and authentication, and provide analytics on performance and adoption. Through features like developer portals and automated security enforcement, API management enables organizations to treat their APIs as managed products, ensuring they are reliable, discoverable, and valuable for both internal and external consumers.