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Ten-cent API an activator of trillion-scale economy?

More Posted time:Apr 24, 2017 13:30 PM
In the cloud era, API becomes the best carrier for service delivery, ability replication, and data output. Numerous enterprises provide services and data in the form of APIs. These API services allow for a greater creative space for the Internet of Things (IoT), big data, and mobile application fields and endow them with more endless opportunities and possibilities.
The combination of API and the IoT means that companies digitalize their internal manufacturing plants, products and other physical assets and their products and capabilities can reach a wider audience and more consumers as a result.
It is foreseeable that internet services in the future will be directly backed up by API services. The tide of the API economy is approaching.

In 2020, the overall scale of China's Internet of Things will exceed 1.8 trillion yuan. API is a connector to achieve interoperability among all things and form new value networks. By 2018, the API economy is expected to become a global market worth US$2.2 trillion. How should we understand the API that plays a role as the "technical glue" and the resulting API economy?
For example, an app wants to send red packets to attract new users, and the red packet feature requires real-name authentication and bank card verification. If traditional approaches are adopted for the launch, these features are time-consuming. Now with just a few APIs such as the bank card four-element authentication, and ID card avatar certification, as well as a few lines of commands, and the functional innovation will be achieved.
As another example, a company making lawn-use sprinkler heads in the United States is faced with very fierce competition. It is only capable of developing hardware, but it found the product wastes too much water. As a result, they simply call the weather query API, and its sprinkler product will stop watering on rainy days, saving a lot of water usage and fees for users. As a result, users naturally tend to choose their sprinkler products, and the company ended up making windfall profits.
No one in the hardware company mentioned above writes weather APIs, nor does the company have skilled software staff. But instead of spending hundreds of thousands yuan to hire a team dedicated to the development of weather APIs, they invested a "little sum of money" to query the API of a weather company. When the interface is called by millions of sprinklers, apparently the API manufacturer earns the money and the market.
In an application, you can call N APIs (N> = 1), depending on what APIs you need. For example, during a trip, you may need to call: 1. Weather API; 2. Road conditions API; 3. State query API for idle vehicles nearby; 4. Query API for gas stations along the road; 5. Query API for restaurants or hotels at the destination.

As a developer, what kinds of service APIs do you look forward to? Or what are your views and innovation advices on the idea of API Economy Innovation Competition? Let's talk together.