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Market Synopsis:
Application Programming Interface (API) has found multiple applications in the telecommunications industry. Market Research Future (MRFR)’s report suggests that the global Telecom API Platform market is poised to mark 17.33% CAGR over the review period 2018 to 2023. It also unravels that the revenues earned by the market are anticipated to surpass USD 200 Bn by the end of the evaluation period. IT services have gained a quick mileage in the telecom industry. Thus, the developments of the IT services are projected to boost the demand for API in the telecom industry. This, in turn, is prognosticated to boost the growth rate of the Telecom API Platform market.
Telecom industry leaders are investing in API technologies for the integration of their services. It is prognosticated to develop the market over the next few years. API offers agility and reliability which is anticipated to drive the growth of the market. Some of the telecom service providers are offering streaming services over higher bandwidth to gain quick mileage and accelerate revenue creation. It is supposed to boost the growth rate of the Telecom API Platform market and increase API applications. Also, the Over-The-Top (OTT) providers have expanded their offerings in addition to telecom networks. It is forecasted to work in favor of the market in the years to come.
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Monetization of services offered by telecom operators is anticipated to fuel the growth rate of the Telecom API Platform market in the foreseeable future. The latest developments in the IT services and its quick adoption by the telecom industry has opened new avenues of opportunities for the market players. Digital transformation of the telecom industry is poised to offer optimum efficiency which can be achieved with the help of API. Thus, the market is anticipated to earn considerable revenues over the next couple of years.
Segmental Assessment:
On the basis of type, the Telecom API Platform market has been segmented into service configuration management (SCM), location determination data, presence detection data, and subscriber data management (SDM).
On the basis of service, the Telecom API Platform market has been segmented into SMS, MMS, and RCS API, payment API, identity management, location API, webRTC, and others.
On the basis of end-user, the Telecom API Platform market has been segmented into internal telecom developer, partner developer, enterprise developer, and long tail developer.
Regional Analysis:
The geographical analysis of the global Telecom API Platform market is covered in this MRFR report for four main regions, that are - North America, Europe, Asia Pacific, and the Rest of the World (RoW). These regions are also studied on the basis of country-level market for providing a comprehensive view. North America exhibits tremendous potential and is likely to hold a key position in the market place. The rising adoption of cloud-based services in the region is expected to drive the growth of the Telecom API Platform market. In addition, it is also supposed to benefit from the advancements being introduced in cloud technology. Overall, the market is poised to witness substantial growth in the years to come. In the near future, the commercialization of 5G technology is anticipated to boost the Telecom API Platform market. The U.S. is projected to invest massively in 5G commercialization, thus, supporting growth of the Telecom API Platform market in the region.
Competitive Dashboard:
Telefónica S.A. (Spain), Vodafone Group PLC (UK), AT&T Inc. (US), Nokia Corporation (Finland), Orange S.A. (France), Google (US), Verizon Communications Inc. (US), Fortumo (Estonia), Vonage (US), and LocationSmart (US) are some of the prominent players of the Telecom API Platform market. Other players that are likely to gain traction and contribute to market development are Cisco Systems (US) and Aspect Software, Inc. (US)
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