With adoption by companies such as Uber, APIs are fueling the digital economy. And now service providers are ready to tap into those benefits as well.
By using open APIs, service providers and enterprises can simplify the process of developing IT and service platforms. Instead of developing a product or service in-house, service providers can partner with third-party API entities to speed up deployments and increase revenues.
According to a 2016 report by Apigee, API traffic has grown 2.8 times year-over-year. While media, retail and information services industries account for 73% of API traffic, according to Apigee, service providers are starting to leverage them to increase the rate of their digital transformations. (See 9 Global Telcos Back Open APIs Scheme.)