Keys to a successful API Management Strategy

Application Program Interfaces (APIs) and microservices have become integral components of modern architecture and software development. APIs allow different internal and external software systems to communicate and exchange data . Microservices is a software architecture pattern that decomposes large monolithic applications into smaller, independent, and loosely coupled services. Microservices communicate with each other via APIs enabling complex and sophisticated applications providing real-time capabilities to be created.

The global integration software market revenue is expected to reach US $15.9 billion by 2026 with an annual growth rate of 15.8%.¹ A recent enterprise API adoption survey displayed that 98% of organizations use or are planning to use internal APIs; up from 88% in 2019 while 90% of organizations use or are planning to use private APIs provided by partners; up from 68% in 2019. ² The high demand for cloud-native applications to support scalability and resiliency needs drives the increase

Managing APIs and Microservices is a complex undertaking. With the constant change in business needs required to respond quickly to evolving digital markets, and on-demand customer needs the task becomes even more challenging. That is where API Management comes in to help the process of creating, publishing, and monitoring APIs in a manner that ensures they meet the needs of developers and end-users. A good API management structure can be likened to a synchronized approach of a Formula one pit stop crew.

In an environment where a split-second decision can determine the final placement of a racing team, more than 20 team members work together to get a race car back on the track in under 2.5 seconds. As impressive as that may seem, the team relies on a synchronized and defined approach to ensure team goals and customer needs are met or exceeded where possible.

This point of view takes a closer look into what API Management really involves, why it is important, challenges to a successful approach and some leading practices for implementing an API management strategy. In the next point of view, a similar lens will be applied to Microservices.

What does API management involve?

API management involves much more than securing APIs. It includes activities such as designing, publishing, documenting, testing, securing, monitoring, and monetizing APIs. API Management is an important part of any API strategy. By using API Management, organizations can improve the security, performance, scalability, and developer experience of their APIs.

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Footnotes

1. _{Source: Financial Times, London, Joanna Chung (July 7, 2016). Source: KPMG International, "Replay: Fast Forward" (November 2015).}
2. _{Source: ABC News Web site, Politics section, May 23, 2016.}