With the use of APIs proliferating across enterprises of all kinds, API management solutions are playing an increasingly prominent role as technical heads and business leaders work together to manage and secure company-wide use of APIs, according to Michael Yamnitsky’s recent article on ZDNet.
As the adoption of and dependence on API management solutions grows, Forrester Research has predicted that annual spending on API management by U.S. companies will quadruple in value by the end of the decade, going from $140 million in 2014 to $660 million in 2020. International sales will take this figure over the billion-dollar mark.
This has prompted many enterprise giants, such as IBM and Hewlett-Packard, to enter the market in an attempt to overtake the innovative startups that create many of the products being used today. Using API management as an entry point, these vendors are hoping to sell platform-as-a-service, mobile back-end-as-a-service and predictive analytics, among a few others.
As API management solution vendors continue to carve out their niches by tailoring their products to a particular industry or use case, Forrester believes that any vendor acquisitions will be strategic, rather than to ensure vendor survival.
When considering that only around 40% of enterprises are actively making developments around mobility, the Internet of Things and big data, the inexorable progression of an increasingly digital business environment could have detrimental consequences on the remaining 60%.