Are you captivated by the thrilling world of application programming interfaces (APIs) and hungry to uncover the most recent trends and jaw-dropping statistics shaping the industry? You’re in the right place!
We’ve gathered 23 astonishing API statistics for 2023 that will not only seize your attention but also bestow invaluable insights into the ever-evolving API landscape. We’ve covered everything from the staggering growth of API usage to the most sought-after API categories. So, whether you’re an API specialist, a developer, or just someone eager to learn more, strap in and prepare to dive into these fascinating API statistics!
Top API Statistics
- The API management market is estimated to continue growing at 34.42% CAGR
- Around 70% of all public APIs are REST APIs
- 56% of enterprise leaders agree that APIs help them build better digital experiences and products
- 57% of web applications are fueled by APIs
API: Exponential Growth of API Usage Statistics
APIs have become the driving force of today’s digital ecosystem, transforming the way businesses and applications communicate. In this section, we’ll explore jaw-dropping statistics that showcase the meteoric rise of API usage.
It is estimated that the API management market will continue to grow at a 34.42% CAGR (Deloitte Research)
The staggering 34.42% CAGR of the API management market growth rate is a testament to the skyrocketing demand for cutting-edge API services and solutions. This rapid expansion is not just a number, but a powerful signal that more businesses and developers are embracing the transformative power of APIs.
90% of the leading online travel aggregator revenue is by API (Harvard Business Review)
This jaw-dropping statistic from Expedia, a top-tier online travel aggregator, showcases the monumental impact that APIs have on the travel industry. As more travel service providers awaken to the advantages of unleashing their APIs, the sky’s the limit for growth in this realm.
60% of the leading eCommerce portal revenue is by API (Harvard Business Review)
The explosive growth of APIs in the eCommerce world cannot be overstated, as they’re now responsible for more than half of the revenue on leading eCommerce platforms. In the fast-paced realm of eCommerce, where inventory management, payment processing, and shipping logistics are all critical components, APIs are the secret weapon that can help companies stay ahead.
The healthcare industry experienced a 400+% increase in API traffic in 2020 (Google Cloud State of API Economy 2021 Report)
The staggering 400+% surge in API traffic within the healthcare sector in 2020 highlights the monumental challenges faced by healthcare systems worldwide due to the COVID-19 pandemic. As the influx of patients skyrocketed, healthcare providers use healthcare APIs to scale their services to meet the urgent demand.
The industry harnessed the power of API technology to enable seamless data exchange, supercharge telemedicine capabilities, and streamline patient care, playing a pivotal role in tackling the overwhelming patient load during this crisis.
As of 2020, developers report that they spend around 30% of their time coding APIs (Statista)
This statistic highlights how the astounding rise of APIs in recent years has revolutionized software development, with developers now dedicating a third of their time to API-development. This surge in API coding is fueled by the ever-growing demand for seamless integration and smooth communication between diverse software systems and services.
API: Open APIs Statistics
Open APIs are revolutionizing the way businesses and services connect, sparking creativity and synergy across diverse sectors. In this section, we’re going to dive into some fascinating statistics that showcase the growing importance and influence of open APIs in our digital world.
Companies that open APIs to the public generally have greater API maturity (Google Cloud State of API Economy 2021 Report)
Companies that open their APIs to the public tend to have more advanced, cutting-edge API systems. By inviting external developers and users to explore their APIs, these trailblazers prove their unwavering confidence in the stability, functionality, and security of their offerings.
Only 15% of APIs are publicly available (State of API Report)
This statistic highlights the need for increasing open APIs, as currently only 15% of them are publicly available. A majority of APIs are either private (58%) or partner-facing (27%), which limits the accessibility and potential for innovation among developers and businesses.
By increasing the number of open APIs, there would be more opportunities for collaboration, integration, and the development of new applications and services. The promotion of open APIs can foster a more inclusive and innovative ecosystem, benefiting both the API providers and consumers.
5% of banking APIs are used externally to generate revenue (McKinsey Digital)
This statistic reveals that only a small fraction of banking APIs are currently being harnessed for external revenue generation. But fear not, as the digital world continues to transform and financial institutions awaken to the potential of APIs, we anticipate a surge in the adoption and utilization of banking APIs in the near future.
Banks plan to triple the number of their “public APIs” by 2025 (McKinsey Digital)
McKinsey Digital’s eye-opening projection reveals that the number of public APIs in the banking sector is set to skyrocket, tripling by 2025. This astounding growth means that banking APIs will soon make up 15% of the industry.
API: Representational State Transfer (REST) Statistics
Discover the power of Representational State Transfer (REST) APIs, an ingenious web API architecture that revolutionizes the way software systems communicate. With their emphasis on scalability, simplicity, and data, REST APIs harness the power of standard HTTP methods and stateless principles to streamline application development and integration. Let’s explore some REST API stats to better understand their significance in this landscape!
Since 2005, REST has been growing as one of the most popular API protocols (APIs for Dummies)
Around 70% of all public APIs are REST APIs (Tray.io)
The astounding 70% adoption rate of REST APIs showcases their monumental impact on the digital world. Their unrivaled simplicity, scalability, and versatility make them the go-to choice for businesses to streamline operations across platforms and languages.
Behind REST, SOAP and RPC are the second and third most popular API architectures (Tray.io)
REST reigns supreme as the top API architecture choice, with SOAP and RPC hot on its heels. While REST takes the crown for its simplicity and scalability, each API type offers unique benefits that cater to different developer needs
For example, SOAP (Simple Object Access Protocol) uses XML for message exchange and boasts incredible robustness, making it perfect for tackling complex applications with ease. Meanwhile, RPC (Remote Procedure Call), is the versatile method for executing remote procedures across networks. With RPC, developers can call functions on distant servers as if they were right next door.
API: Management Solution Statistics
In today’s evolving digital landscape, businesses are waking up to the immense potential of APIs. To harness this power, they’re turning to API management solutions for seamless control, monitoring, and security.
Imagine having the ability to expertly design, deploy, and manage your APIs while meeting performance, security, and compliance standards – all with the help of cutting-edge tools.
This striking 120 basis point difference in five-year CAGRs between top and bottom-quartile companies showcases the immense power of leveraging APIs in driving growth and operational efficiency.
77% of companies with successful API management transformations translate their strategy into operational mechanisms, monitoring progress, and making changes (Deloitte Research)
This statistic reveals that a whopping majority of businesses have embraced API management and are leveraging its power to actively monitor and fine-tune their operations. By transforming their API game plan into actionable steps, these trailblazers can track their performance, pinpoint areas ripe for improvement, and make well-informed decisions to streamline their processes.
56% of enterprise leaders agree that APIs help them build better digital experiences and products (Google Cloud State of API Economy 2021 Report)
This striking statistic underscores the consensus among industry leaders on the immense value of APIs in supercharging their businesses.
By embracing APIs as essential tools for crafting exceptional digital experiences and products, these trailblazers are paving the way for streamlined processes, boundless innovation, and heightened efficiency. This shared vision highlights the pivotal role APIs will play in shaping the future of the digital landscape.
52% of enterprise leaders agree that APIs accelerate innovation by exposing assets with partner (Google Cloud State of API Economy 2021 Report)
More than half of enterprise leaders emphasize the significant role APIs play in driving innovation within companies by enabling seamless integration and collaboration with partner organizations. By exposing valuable assets and streamlining communication, APIs foster the development of inventive management solutions that can enhance overall productivity and efficiency across enterprises.
API traffic for Apigee customers increased 46% to 2.21 trillion calls between 2019 and 2020 (Forbes)
This statistic emphasizes that Apigee, a company specializing in API management and predictive analytics software, has experienced a notable increase in demand for their services due to the growing necessity for API management solutions.
The 46% growth in API traffic from 2019 to 2020 shows that a larger number of customers are depending on Apigee’s proficiency in managing their APIs efficiently and harnessing the potential of predictive analytics for their businesses.
39% of enterprises desire easier integration between the tools they use for company management (State of APIs Report)
The striking statistic that 39% of enterprises crave smoother integration between their management tools underscores the immense potential of API technology. By embracing APIs, businesses can effortlessly weave together diverse software solutions, turbocharging their operations and boosting overall efficiency.
API: Technology Statistics
Get ready to be astonished by the staggering influence APIs wield in today’s tech landscape! We’re about to reveal jaw-dropping statistics that showcase the transformative power of APIs, catapulting the world of technology into uncharted territory at lightning speed.
50% of the leading cloud-based software company revenue is by API (Harvard Business Review)
This eye-opening statistic underscores the meteoric rise of API usage in today’s tech landscape. With over half of top cloud-based software companies’ revenue generated through APIs, it’s crystal clear that they are not only essential for business success but also pivotal in driving technological innovation.
48% of fintech companies report API security as a leading concern in API usage (FinTech Futures)
This statistic reveals that, even as APIs propel technology forward, almost half of fintech companies consider API security a top concern. It’s clear that, while the benefits of APIs are undeniable, there’s an underlying anxiety about potential risks and vulnerabilities lurking beneath the surface.
Undoubtedly, the API industry must accelerate its security advancements to instill confidence in businesses about their safety. So far, only 11% of companies have a plan for API security.
57% of web applications are powered by APIs (Google Cloud State of API Economy 2021 Report)
In today’s fast-paced digital world, it’s no surprise that more than half of web applications rely on the power of APIs to function seamlessly. This showcases the undeniable importance of APIs in connecting diverse software components and services, acting as the lifeblood of modern technology.
56% of mobile applications are powered by APIs(Google Cloud State of API Economy 2021 Report)
This eye-opening statistic underscores the undeniable truth: APIs are the heart of today’s mobile applications. These powerful connectors bridge the gap between software applications, fostering seamless integration and effortless communication.
In 2020, API developers grew 60% to 4.1 million (Google Cloud State of API Economy 2021 Report)
The astounding 60% surge in API developers to 4.1 million in 2020 signals a powerful shift in the tech landscape. Businesses are embracing the game-changing potential of APIs to revolutionize their systems and streamline operations. With this momentum, the demand for top-notch API developers will only skyrocket in the coming years.
Conclusion: Why Study API Statistics?
These API statistics for 2023 unveil the colossal influence of APIs on the technology landscape, proving their pivotal role in fueling innovation across diverse industries. As API usage continues to soar, businesses and developers need to know about the latest trends and breakthroughs in this fast-paced arena.
As we forge into the digital future, APIs will unquestionably reign supreme in technological progress, revolutionizing how we engage with and harness technology in our daily lives. So, what are you waiting for? Embrace the power of APIs, and unleash your potential to innovate and disrupt like never before!