The most successful modern enterprises are those who build thriving ecosystems of developers and partners. Whether it’s retailers, payment systems, or social networks, the prevalence of application programming interfaces (APIs) adds value to the platform and creates scalability that far outpace traditional and monolithic platforms.
In the modern era, the question is no longer whether organizations should introduce APIs into their platforms, but rather an exploration of the benefits that APIs bring. In Apigee’s latest State of APIs Report, the API management firm examines several defining characteristics of API programs. We summarize them in today’s blog post.
- Non-Linear Growth: Apigee’s survey of several hundred customers discovered that with API adoption, linear growth gives way to an average exponential growth of 250%+ 30 months down the line. Characteristics of these programs include open APIs, strong developer programs, and a focus on clear KPIs.
- Build Digital Ecosystems in Data-Rich Industries: APIs thrive best in the era of data, and data-rich industries including media, information technology, and high technology stand to thrive the most. In Apigee’s survey, over three-quarters of those benefitting came from these three industries alone. Their secret? Building a digital ecosystem on top of APIs and driving 90% more traffic than the average adopter.
- Network Effects: Buying decisions today are multi-step processes. For example, going on vacation involves purchasing plane tickets, rental cars, and hotel stays. In a traditional buying process, this meant going to three separate websites to purchase three different experiences. With APIs unifying the process, transaction completion time accelerates and offers additional data back to organizations to better address customer needs.
Does your organization run a successful API program? Let us know in the comments section below.
APIs are the core of Perficient’s work with many of our customers. If you’re interested in learning how to master your API adoption, reach out to us at email@example.com for a conversation and join our DevOps webinar to discover how APIs fit in your development lifecycle.