ALBANY, N.Y., Nov. 25, 2020 /PRNewswire/ -- Rapidly expanding array of cloud-based technologies and mobile internet applications continue to expand the scope of telecom API market. The launch of several third party APIs has been powered by C level digital initiatives and is making waves in introducing customer-facing applications in Telecom 2.0.
A growing number of companies in the telecom API market, including technology giants, have ramped up their efforts in leveraging API applications to integrate their services across platforms used by developers. Proliferation of cloud communication platforms to offer mobile internet applications will carve out new niche points for industry players.
Some of the key areas in current focus are multi-factor authentication, social identity, contextual authentication, single-sign-on (SSO), and identity storage data
Analysts at TMR project the telecom API market to expand at CAGR of ~19% during 2020 – 2030, and the valuation will climb to ~US$ 1 Trn by 2030. North America has emerged as the frontrunner, with incredible opportunities fueled by rapid penetration of 5G services and constant improvements in API by tier 1 players.
In 2020, the global telecom API market stood at ~US$ 250 Bn
Of all service types, WebRTC segment led the market in 2019
The aforementioned segment expected to retain its lead
Of the various key end users, enterprise developer segment anticipated to account for the leading market share during the forecast period
Regionally, North America is expected to lead the telecom API market and is likely to retain its lead till 2030
The U.S. is a prominent market
Asia Pacific telecom API market is expected to expand at substantial CAGR during 2020 - 2030
Explore 233 pages of top-notch research, incisive insights, and detailed country-level projections on Telecom API Market (Service Type: Payment, SMS, MMS, and RCS, Maps & Location, Voice/Speech, Identity Management, WebRTC, and Others (Device Information, Do Not Disturb, etc.); and End User: Enterprise Developer, Internal Telecom Developer, Partner Developer, and Long Tail Developer) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030 at https://www.transparencymarketresearch.com/telecom-api-market.html
Telecom API Market: Key Driving Factors and Promising Avenues
The adoption of API in the telecom sectors has several underpinnings and undercurrents.
One of the foremost drivers is the development of B2C channels and modern platforms through user-friendly APIs. Growing penetration of cloud and mobile internet in the Telecom 2.0 is another accelerator of growth of the telecom API market.
Vast uptake in third party APIs is fueled by rise in number of C level digital initiatives in companies of all sizes.
Robust demand for mobile top-up API and cloud communication platforms has been strengthening the prospects in the telecom API market.
Demand for novel COVID-19 tracking technologies has opened a new avenue for players in the telecom API market in recent times.
The adoption of location and maps API is bolstering market growth.
Rapid strides in mobile internet networks hinge on rapid developments of API.
In the above regard, monthly global mobile data traffic is surging ahead to touch the mark of several Exabytes by 2022. Burgeoning number of mobile Internet users is adding new growth avenues for players in the telecom API market.
Rapid penetration of 5G network in recent months has fueled the expansion of opportunities in the telecom API market.
Analyze global telecom API market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Telecom API Market: Regional Landscape
Regionally, North America has emerged as the forefront to the global telecom API market players. In 2020, the estimated revenues were US$ 86.79 Bn.
Rapid penetration of 5G connections and constant improvements in APIs have cemented the growth of the regional market, with U.S. being a prominent country market.
Several companies in the region have rolled up their sleeves to launch 5G mobile services in the next few years, expanding the avenue for players in the telecom API market.
Rapidly expanding avenues in the telecom API market are constrained by proliferation of over the top (OTT) Internet service providers. In recent months, OTT services have gained immense traction among consumers. In particular, OTT VoIP have impeded the revenue expansion of API companies in the telecom API market.
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