Trends for 2016: The API Market Challenge
APIs are one of the bases underpinning the digital economy. They enable access to and the exploitation of company data, boosting innovation and the launch of new products and services with greater agility.
Many lists are published at the end of the year with the trends that will swamp the market over the coming 12 months. On this occasion we will focus on one of the points highlighted in the BEEVA Trends 2016 report (only available in Spanish), which features some of these trends, “some of which are already a reality, while others are gaining momentum little by little”. Roberto Galves, Product Manager of BEEVA's Genoa team, mentions the “imminent” transformation toward the so-called “API Economy”.
The challenge in 2016 will be to drive the application business, and that requires an apps economy, something that can be achieved with an environment that unites the developers with an increasingly large user market.
This environment should offer both a set of tools to make their respective tasks more productive and simpler. In this way, a developer can have access to analytic tools, instruments for publishing and advertising their apps and monetization resources. Meanwhile, users will have available search and information tools to help them make decisions in their everyday lives.
In the API economy, this translates into what is known as an API Manager, whose job is to aggregate tools similar to those found in application stores, such as analytics, pricing, documentation and publication, which can be used in a secure and controlled way by both companies and developers.
The strategic challenge of this apification process is to be able to analyze and reflect on the chain value and on the resources that can be shared with business partners and which may potentially be used in an optimized way.
This analysis should take into account the priority, criticality and security of the process for presenting APIs under a technical-commercial approach. The modeling of the outward interface may follow standards such as REST or SOAP, which have their own pros and cons, and whose application depends on the preferred development environment.
According to the BEEVA report, “deploying an API Manager in the short term and with optimized TCO and return on investment should not be a difficult task if the solution is based on a powerful and reliable SaaS model”.
In this regard, thanks to the API Manager, companies have available the component that will enable them to manage aspects such as performance, security, scalability, use and publication of their APIs in the developer community. In short, “proper monetization of digital products gives way to the creation of a new source of income”.
You can now download the full report with all the trends for 2016 here (only in Spanish).
If you are interested in the world of APIs, find out more about BBVA's APIs here.
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