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API World Conference: The API Economy and the Need for an API Management Hub
Discover the importance of an API management hub in the growing API economy, including API design, testing, governance, and executive support for a successful API strategy.
- The API economy is growing, with a huge uptake in the creation of private APIs and a need for API management.
- API management involves four components: API design, testing and monitoring, organizational structure, and governance.
- The organizational structure should be designed to balance vertical ownership with horizontal standards.
- Executive support is crucial to creating a successful API strategy.
- Companies are struggling to manage the proliferation of APIs, with many using different gateways and runtime components.
- API discovery is difficult due to the lack of a centralized platform and the need for governance.
- Companies should invest in API tooling and provide education and awareness to developers.
- The API hub is a critical component of an API strategy, providing a single place for developers to discover and provision API access.
- The API economy is driven by the need for data adoption and the creation of new APIs.
- Synthetic data is a big trend in the API economy, allowing companies to create fake data that mimics real data.
- API middleware is critical to creating a seamless API experience.
- Governance is key to ensuring that APIs are secure and compliant.
- Companies should provide a self-service model for developers to discover and provision API access.
- Education and awareness are critical to promoting the adoption of APIs.
- The API economy is a continuous process, with APIs being created, exposed, and then refined.
- Companies should invest in celebrating wins and promoting the adoption of APIs.