Over the last couple of years, we’ve noticed a new phenomenon. We started calling it “API complexity.”
Until recently, APIs were considered a hot new technology. At this stage, enterprises looked for their first API Management solution that brings the typical low-hanging-fruit type of benefits, from security to new and faster revenue streams.
But this quest gave rise to API complexity — different business units built their own APIs, implemented various API gateways from different API Management vendors, while leaving other APIs in the wild, managed by no one.
The low-hanging fruit has now been well and truly harvested. To access the sweet nectar of the top branches, enterprises need to master the complexities of their API and IT landscapes.
The branches are multiplying
We have partnered with Vanson Bourne to carry out a global survey to understand this better. We have surveyed 800 senior IT and business decision-makers in the USA, UK, France, Germany, Australia, and Singapore. This is what we learned.
API complexity is growing and no country or industry is spared. While today, the average enterprise uses three different API Management vendors, this will grow by 33% to an average of four by 2023.
This complexity, if not managed, holds enterprises back. API complexity negatively impacts the bottom line, delaying the launch of new digital projects and offerings, and raising numerous challenges and pain points — from security to governance to innovation and many others.
Move ahead faster by taming complexity
API-first enterprises and enterprises who have mastered API complexity are moving ahead quickly.
Enterprises who build new APIs quickly, reuse APIs, or onboard their partners quickly tend to launch over 40 new digital projects and offerings each year – compared to laggards who launch just a few.
The incentive for enterprises to master API complexity, and the downside of not doing so, are large. But the survey also showed that most enterprises don’t know how to. This is further complicated because current API Management vendors don’t offer capabilities such as multi-vendor management or platform/standard openness.
Follow this link to access the results in full.