What is API-led product growth?

API-led product growth is a business strategy emphasizing the development and management of APIs as core products to drive digital transformation and business growth. This approach capitalizes on APIs' ability to monetize data sources, foster product innovation, and enhance community engagement. API products are designed with a focus on developer experience (DX), allowing developers to seamlessly integrate them into their applications, thus improving end-user experiences. Essential components of API-led product growth include setting clear growth objectives, implementing a comprehensive API management platform, and choosing suitable monetization models. Real-world examples of successful API-led strategies include Google Maps, Starling Bank, AccuWeather, and WhatsApp, which have leveraged APIs to expand their service offerings and drive business growth. Tyk, an API lifecycle management platform, offers tools to accelerate organizations on their API-led product growth journeys by providing secure, production-ready API products.