API stands for Application Programming Interface, which is a software that allows two applications to communicate with each other. Each time one uses an app like Facebook, Instagram, or check the weather the phone, API comes in use.
Whenever one uses an application on their mobile phone, the application connects them with the Internet and sends their data to a server. The server retrieves that data, decodes it, performs the necessary task, and sends it back to the user. The application then decodes that data and showcase the information desired. This process is called API.
The estimated cost to build an API
Typically, the estimated cost to build an API is around 18,000$-20,000$ (1,329,520 INR-1,477,250 INR) to build a basic level API. This figure estimates a secure and well-documented API with the expertise of an experienced API developer
It is vital to understand that there is more than coding an application interface in API. Whether a business owner is planning on hiring an outsource company or assigning a new project to an in-house team, various factors determine the cost of API.
Professional software developers charge an average of 86,000$ (6,353,219 INR) per year on average. That is $7,166 (529,385 INR) monthly. However, salaries may depend upon the place of employment. Contractors make a roundabout 50% more than their salaried software developers
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Cost factors for developing an API
The largest expense will be the developer’s cost. On average an Indian developer will charge 30$-40$ (2,200 INR-2,950 INR). However, the expertise of developers will also be in the account for example a developer with experience and profound knowledge of programming languages will cost more.
The development procedure compromises the following steps which are essential to follow to develop a reliable API.
Many considerations go into designing API. Who will be the audience? What data should be included? These decisions will determine the essentials for your API. These factors influence the period of research for the team. Research area where the application will be a success.
The database the backbone of API it consists of classified information that users are provided. Building a compatible, structured, and symmetrical database will result in API’s success. The design requires time, as so establishing security measures. This process can take around 10-15 days.
Prototyping the Application
Once security and data structures are in their final condition, it is time to run the experimental process. This step is held before launching an MVP. Prototyping verifies the API’s functionality while confirming that terminal points (source & user-end) are operational.
The MVP is the fundamental product. Launching the minimum viable product of an API excluding additional features is an excellent strategy. Since this version of the application compromises basic features it is expected to give user feedback. Once user review returns with positive feedback launch the product. This usually takes around ten days.
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Establishing an oversight of an API is necessary. Examine how user traffic impacts the ecosystem of the application. Strengthen the solution of any problem by monitoring the impact of traffic. This includes identifying congestion, loopholes, glitches, etc. Design alerts by notifying the admin.
People will use your API on daily basis; therefore, it is mandatory to check that directions and use cases are arranged out fittingly. These documents can justify the technicalities of the API. This procedure takes roughly 3 days. Technical writers generally take over this responsibility. An average, in-house author charges a mean of 20$(1475 INR) per hour.
Once API is finally up and running in optimal condition it will require occasional maintenance. Problems come to the surface due to external attacks, high traffic density, and server breakdown. These problems are generally handled by in-house DevOps engineers.
Change these processes to the maximum amount as attainable to avoid excess (costly) human intervention. Even though regular health checks and tests will scale back maintenance prices by identifying any problems before they grow in extremity. Additional tools such as “CircleCI” and “Gitlab” can also add to further charges. As your application escalates, the price of the application will increase rapidly.
After launching the application, one needs to consider extra marketing costs, including staff, contractors, or outside agencies. API is a unique product that can be sold to developers and business owners. Finding the right buyer is vital therefore consult professionals who can come up with an excellent strategy for marketing the product.
It may be wise to hire freelancers to achieve marketing goals for an API application. Professional team members are expensive to hire. Marketing effort might be a challenge to introduce your API to developers and business owners across the market.
By hiring a contractor to execute marketing strategies assume they charge 30$(2,200 INR) per hour on average. If the contractor works for 8 hours a day that results in 240$ (17,740 INR) per day. However, rates may differ due to the experience of the contractor or from region to region in the Indian market.
There is no denying that building an API is expensive however, it is not difficult to develop an API. Follow the steps mentioned above such as development procedure, hiring developers, marketing campaign, etc. Complex software may result in breakdowns but the API product can cover losses if it is successful in the market.
Hope you’ve got the information about the cost to build an API, Contact Aalpha for API development.
Also check: custom software development cost