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Demystifying APIs and Microservices: Discover the importance of APIs and Microservices to Modern Businesses

APIs (application program interfaces) and microservices have become integral to any business that interacts either internally or externally or both on a service or application level. These terms are relatively new, with API first being used in the year 2000 and microservice in 2011.

The API and microservice industries are growing at a fast pace. The global API management market is expected to reach $5.1 billion by 2023, rising from $1.2 billion in 2018, according to MarketsAndMarkets. Microservices also are growing rapidly. ResearchAndMarkets forecasts that the cloud microservices market will reach $1,880.0 million by 2023 from $683.2 million in 2018. Now, let’s examine what APIs and microservices are and how they can be beneficial to organizations.

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