Libraries API is the common denominator and the defacto standard for all Drupal modules/profiles/themes that integrate with external libraries.
The module introduces a common repository for libraries in
- The same library can be shared by more than one module.
- The same library can be shared by more than one site.
- Ease the process of upgrading a module that requires an external library. Just replace the module folder with the new one. No need to move the contained library out and back in.
- Prevent incompatibilities due to having the same library installed more than once in different versions.
- Central installation instructions (widget) to help users figure out how to install.
- Library classification.
- Dependency handling.
- Library version detection.
- Runtime control of library availability.
Drupal WxT leverages the libraries module for all of its handling for the Web Experience Toolkit. This allows for a decoupled / performant approach to loading the libraries while also allowing for quick updates by just replacing the associated theme in the libraries folder without any code changes.
The specific Libraries API code can be found in the wetkit_wetboew module which provides both a make file for the dependencies as well as the Libraries code invocation itself. A thorough example of all the properties in hook_libraries_info() can be found at the Libraries API documentation