For digital enterprises, APIs have demonstrated to be potent agents of transformation. In the previous year, there was a 15% growth in the number of organizations monetizing APIs. With a look into the future, API trends now promise to deliver even greater value in 2023.
GraphQL
It is an open-source API query language that offers a more effective and adaptable substitute for conventional REST APIs. It minimizes over- and under-fetching by allowing customers to submit precise data requests.
Increasing Count of APIs as Products
In the same way as Software-as-a-Service, API-as-a-Product focuses primarily on APIs. A growing number of enterprises offer APIs as goods to commercialize their API-based services.
AI/ML Inclusion with API
The API business is incorporating artificial intelligence (AI) and machine learning (ML), and the results are amazing. Technologies like computer vision, facial recognition, data extraction, and natural language processing offer market-leading features.
Open Banking APIs
Open Banking is a regulatory initiative aimed at promoting competition, innovation, and consumer-centric services in the banking sector. Open Banking APIs allow third-party developers to securely access and utilize banking data and services.
Serverless Architecture
Serverless computing, also known as Function-as-a-Service (FaaS), is gaining traction as a way to build and deploy applications without worrying about server management.
Open Banking APIs
Open Banking is a regulatory initiative aimed at promoting competition, innovation, and consumer-centric services in the banking sector. Open Banking APIs allow third-party developers to securely access and utilize banking data and services.