Feel the need for faster speed to market: Why you can’t afford to respond slowly to market trends
Industries can find help for new thinking with this through third-party applications.
Sharing data is an important factor for the smaller, more specialized organizations’ ability to compete with the larger ones.
This is vital for markets where more local actors traditionally have been allowed to operate without being too encumbered by large international players.
Companies cannot afford to respond slowly to changing market trends. By using APIs, your company can leverage sophisticated technologies without having to go through the trouble of developing them first.
Don’t you think it would have taken Uber a significant amount of time and resources to set up their own map-service, rather than using Google Maps? This would have greatly impacted their time to market, as well as start-up costs.
It has been seen in the market that letting third-parties develop content for a platform marketplace can create significant value: Nintendo’s stocks went up 100% within a week after they launched Pokémon GO on Apple’s marketplace App Store.
This demonstrates the potential and belief in APIs and platform marketplaces, as well as what role they are expected to play in the future.
So, what are you waiting for? Download our brand new whitepaper on API Exchange - Creating the Nordic Marketplace.