Application Loader Warning - Resulting API Analysis File is too large

I am getting a strange error when I submit my application via application loader tool.

The resulting API analysis file is too large. We were unable to validate your API usage prior to delivery. This is just an informational message.

The application gets submitted to iTunes Connect and I am able to test it via TestFlight.

What is the reason behind this error? Also, is there a risk of my app getting rejected because of this ?

Copy of the error message is below.

As it mentions already, it's just an informational message. You don't need to worry about rejection because of this.

What it means is that it cannot do API analysis before upload. It does this analysis to check if you use any restricted API's from the SDK. So it could warn you and allow you to fix it before uploading. Since it's too large, you will get the warnings (if any) about API usage by email within half an hour or so after submission since the analysis will be done on the Apple servers.

It's nothing to worry about - Basically, when you archive your app it produces an "API Analysis File" which is a breakdown of every call your app makes to any of Apple's frameworks. This allows them to see which services you're using, and if you're using any private APIs that are considered off-limits. If your app is big enough (which doesn't take much), this file gets "too large" to send to Apple. So instead, they just run same analysis on their servers after the upload finishes.

Nothing to worry about this warning,

I have received this warning and submitted the ipa last week (as for may-2016).

It is approved and in Live now.

Don't worry, although this warning, your application will be sent.

You should check your emails and see this email with this subject:
"iTunes Connect: Version - has completed processing."
Then you will see this in iTunesConnect, at the Prepare for Submission page :

Before the email: