Back in January, Forbes contributor Louis Columbus predicted that 2017 would be “The Year of the API Economy”.
When you look at the investments being made into APIs, this reality is hard to ignore. There are big investments made by organizations into APIs, be it internal or external APIs, and upper management will face pressure to come up with new and innovative business models around the digital API economy. APIs are increasingly being explored to address top strategic priorities like business agility and customer growth.
Today, it is estimated that the number of public APIs is over 50,000. Programmable Web lists over 17,000 public APIs in its database. This does not include the thousands of privately managed internal APIs, which continue to gain adoption across major industries around the globe. According to SmartBear’s 2016 State of API Report, 1 in 5 API providers only began developing APIs within the last five years alone.
API adoption is only set to increase with the exponential rise in the number of connected devices. The IoT revolution is also upon us, with home devices, bots, and wearable devices all contributing to our growing desire to stay connected. By 2020, it is estimated that every person in the world will have seven devices, on average. [Read more…]