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When delivering frequent updates to an API, versioning comes into play as soon as evolving an endpoint is not a feasible option anymore. So an API team has to have a process around versioning. One that is preferably less painful and more automated.

Versioning of your endpoints is important especially if you have 3rd party dependent clients of your REST API service. Any change in your endpoint, for example in data structure may impact clients even if it is backward compatible, clients may process your endpoint data in different ways, so even adding one additional property to your model may also impact functionality of the client which is consuming your endpoint.