Market Research Future (MRFR) projects the global telecom API market 2020 to advance to a size of USD 368.25 billion by 2023. The market study also reveals that the market progression can be at a rate of 17.33% from 2018 to 2023 (which is the evaluation period).
Growth Inducers and Key Deterrents
Increasing deployment of M2M devices and the rising focus on elevating telecom API user experience are touted to be some of the top growth inducers in the market. In developing regions, mobile operators are considered to be essential aspect when it comes to the digital economy. Telecom operator APIs have emerged as a robust channel for boosting the creativity and stimulating the startup ecosystem as well. The vast range of APIs provided by operators leads to a significant sequence of innovation, since startups have the scope to integrate numerous APIs to develop new and advanced services.
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With the increasing use of smartphones and the subsequent surge in the demand for internet services, the requirement for revenue generating alternatives among telecom operators has also risen. Providing services like messaging and identity management API can be a notable trend in the global market during the given timeline. Another trend gathering momentum in the telecom API market is the emerging application of WebRTC. Observing its mounting popularity, more and more telecom API vendors are focusing on offering WebRTC API to the interested telecom operators.
The telecom API market has been considered for type, service, and end-user.
The primary types of telecom API are location determination data, presence detection data, subscriber data management (SDM) and service configuration management (SCM).
The services that are available in the global market include webRTC, MMS, payment API, RCS API, identity management, location API, and others.
The prominent end-users outlined in the report are internal telecom developer, enterprise developer, long tail developer and partner developer.
The geographical study of Telecom API Market has taken into account Europe, North America, Asia Pacific (APAC), and the rest of the world or RoW.
High deployment of cloud-based technologies in Canada, Mexico and the US, has made North America the highest revenue generating market for telecom API. The exceptional financial status of consumers and the high technical expertise that induces the growth of technologies such as 5G benefit the telecom API market in North America. The rising frequency of technological innovations is boosting the market position of the stakeholders in the region. Additionally, more and more telecommunication API builders are continuously forming Vehicle-to-Cloud (V2C) connectivity and Speech Recognition Expert Groups to come up with standardized sets of APIs. This is yet another factor that can be instrumental in the market growth during the analysis period.
APAC can witness substantial growth in the global market, following the increasing technological advancements in India, Japan and China. These countries also note a high demand for smartphones, which again favors the market growth for telecom API. The heightened demand deployment of M2M devices can also add to the market strength in the following years.
Renowned companies competing in the market for telecom API are LocationSmart (US), Nokia Corporation (Finland), Vodafone Group PLC (UK), Fortumo (Estonia), Orange S.A. (France), Verizon Communications Inc. (US), Google (US), Telefónica S.A. (Spain), AT&T Inc. (US), Vonage (US), and others.
Aspect Software Inc. (US) and Cisco Systems (US) are some of the other vendors in telecom API industry.
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