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What is API management?
API management is the process of designing, publishing, documenting and analyzing APIs in a secure environment. Through an API management solution, an organization can guarantee that both the public and internal APIs they create are consumable and secure. API management solutions in the market can offer a variety of features; however, the majority of API management solutions allow users to perform the following tasks:
API design - API management solutions provide users – from developers to partners – the ability to design, publish and deploy APIs as well as record documentation, security policies, descriptions, usage limits, runtime capabilities and other relevant information. API gateway - API management solutions also serve as an API gateway, which acts as a gatekeeper for all APIs by enforcing relevant API security policies and requests and also guarantees authorization and security.
API store - API management solutions provide users with the ability to keep their APIs in a store or catalog where they can expose them to internal and/or external stakeholders. This API “store” then serves as a marketplace for APIs, where users can subscribe to APIs, obtain support from users and the community and so on.
API analytics - API management allow users to monitor API usage, load, transaction logs, historical data and other metrics that better inform the status as well as the success of the APIs available.
The above features represent some of the ‘major’ offerings that API management solutions provide. The marketplace for API management was $70 million in 2013 and, according to Gartner; this figure is expected to grow at 33.4% between 2017 and 2022, reaching an estimated 3,436.16 Million by 2022 according to Zion Market Research.