Chapter 9: APIs as a Monetized Product

By definition, a product is a service or an item that can be in cyber form as well. It can be sold at a price in the market that is competitive and appropriate, depending on the nature of the item. For an enterprise, APIs are the medium by which innovation is brought to the marketplace. They want to capitalize on the opportunity by introducing new products and services and by establishing new ideas, differentiating the business from the competition.

Businesses rely heavily on digital distribution channels to market and sell their products and generate revenue. APIs foster a growth outlook as businesses can expand beyond their standard operating models. Building and managing API platforms has been recognized as a core enterprise strategy. The APIs provide access to the business assets of an enterprise. Hence, this API economy targets revenue generation through direct or indirect use of the API ecosystem that provides or processes business data...