The Google Maps API platform offers developers access to a plethora of features for active development, including 99% coverage of the entire world, accurate and real-time data with over 25 million updates per day, and SDKs for both Android and iOS. The API key is used to authenticate requests for an application and is available for free for most users, with $200 of free monthly usage. The platform supports various use cases such as maps customization, gaming solutions, and on-demand rides & delivery tracking. Developers can generate a Google Maps API key by creating a Google Cloud Platform account and following simple steps. The key provides benefits such as access to accurate location information, real-time updates, and scalability. Compared to competitors like Apple Maps, Bing Maps, and Mapbox, the Google Maps API platform offers enterprise accounts, premium support services, interactive Street View, and community support.