API value is driven by API consumption
The value of an API increases every time it’s consumed since the cost to build it remains fixed while its productive benefits continue to mount over time, driving up ROI. In a study conducted by Forrester Consulting and commissioned by Axway, we asked over 300 IT and business decision-makers where they stand on closing the gap between API development and API consumption. One of the key findings is that an API's value is not in its existence alone, but in its consumption.
Download the infographic below to see highlights of the study results.
The study shows the majority of companies have published 100 or more APIs. Eighty-six percent of API decision-makers agree the value of APIs is not in their existence alone, but in their consumption.
Two-thirds say the full value of APIs isn’t realized until they are widely used. Yet more than half of respondents say APIs are never — or rarely — reused and that many internal APIs have only one or two users. Use would increase if developers could more easily discover, subscribe, and use their APIs. In fact, with these improvements, returns on APIs are expected to increase by 21%. Lack of API consumption has undermined hopes of achieving expected business results for 71% of API decision-makers, who say they did not experience the business results they planned for with their APIs.
To see more study results, read the full Forrester Opportunity Snapshot: Closing The Gap Between API Development And API Consumption.