We've seen a big expansion in the use of APIs recently with big companies like IBM keen to stake their claim to a slice of the revenue opportunity they provide.
But what's an API really worth? Software quality company SmartBear has produced an infographic which sets out to answer that question.
Access to the Google Maps API for example costs $0.50 for 1,000 requests, so an app making 25,000 requests to the API each day would be worth over $4,000 a year to Google. The graphic sets out an algorithm for businesses to calculate the value of their own APIs. This takes into account the number of users, how much the app has cost to develop and more.
Companies can enhance the value of their APIs by knowing their customers and creating software that meets their needs well. This means making APIs easier to use and understand, to encourage others to integrate them into their systems.
You can view the full infographic below or read more on the SmartBear blog.
Image Credit: Profit_Image / Shutterstock
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