Google's plans to purchase Apigee underscore just how critical Application Programming Interface (API) management platforms have become to IT operations.
Use of APIs in business is increasing as IT departments seek to access applications from in-house, third-party, and customer sources, with the benefit of the reduced number of interfaces that APIs offer.
However, enterprises are often faced with a large number of APIs to work with, which adds additional layers of complexity. API management platforms simplify API management by merging often unrelated sets of APIs into a single platform.
According to a study, U.S. firms will invest close to $3 billion in API platforms during the next five years with annual spending expected to exceed $660 million in 2020, compared to $140 million in 2014.