"In API Economy company utilizes resources efficiently and quickly to create added value for own customers. These resources can be for example data or function provided by other organizations.

Building blocks utilized are own APIs and open APIs provided by other organizations (free or commercial) in addition to developer communities. These enable quicker adaptability to unpredictable and faster changing customer needs.

Defining characteristics of API Economy are competing for popularity among application developers and considering them as primary customers. In brief, services are offered from businesses to developers (Business-to-Developers, B2D)."

Moilanen J., Niinioja M., Seppänen M. & Honkanen M. 2019. API Economy 101

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