New research from Axway has found that, amid growing IT complexity, enterprises around the world now rely on 3 different API Management vendors at a time, and will likely be using 4 in the next two years.
The new research, conducted by Vanson Bourne, surveyed 800 decision-makers in the US, Europe, Australia, and Singapore in verticals such as supply chain, the public sector, the financial services industry, and healthcare. It found that working with multiple API vendors often slows enterprises down.
“Enterprises lose millions every year from delayed digital projects,” said Axway CTIO Vince Padua. “When time is money, harnessing IT complexity leads to real results. Axway’s full lifecycle Amplify API management platform gets to the heart of the issue because it allows enterprises to tame their IT, managing and governing APIs across teams, the hybrid cloud, and different third-party solutions.”
API complexity arises for reasons that range from meeting different security needs, to moving to the cloud, to making businesses more resilient and agile. But IT decision-makers shared that it also leads to pain points such as productivity loss, difficulties in scaling innovation, lack of centralised visibility of APIs, and security concerns.
The survey found only a third of enterprises can onboard new partners within a day, and it can cost $30k on average to build an API, taking 51% of enterprises weeks or months to do so.
“From our experience, the future will be about managing complexity, rather than trying to minimise it. Leading companies can onboard a new partner or build an API in a day, by establishing a solid API management program where reuse, centralised governance, and visibility are key,” concluded Padua.
Dive into the full Vanson Bourne report on rising API complexity by clicking here.