API Management involves developing and publishing application programming interfaces or APIs, controlling their access, tapping and analysing application usage statistics, and generating reports for performance management.
APIs are used to make application architecture more composable and integrable with other applications. API management is a best practice in the overall application lifecycle. It allows improving the abstraction levels of an application to offer improved integration and a strategic edge.
APIs and API management, in general, allow businesses to modernize their existing IT application landscape and offer seamless user experience, such as secure single sign-on and integrating commercial-off-the-shelf products in agile and resilient enterprise architecture.