Market Synopsis:
Application Programming Interface (API) is telecom industry has been witnessing proliferating applications with the advancements in technology. Market Research Future (MRFR)’s recently published report highlights that the global telecom API market is expected to register 17.33% CAGR across the evaluation period 2018 to 2023. The developments in the IT industry are expected to complement the developments in the telecom industry. Thus, the growth of the IT industry is prognosticated to boost the expansion of the telecom API market over the next couple of years.
It has been observed that the telecom industry leaders are providing their own APIs in order to facilitate the integration of services into applications. This, in turn, is anticipated to catalyze the expansion of the telecom API market over the next few years.
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The product offers agility and reliability, which is anticipated to drive market growth in the years to come. Other advantages offered by the product are security, cost-saving, flexibility, mobility, etc. which is poised to influence the growth pattern of the telecom API market greatly in the nearby future. However, the stringent regulations and policies imposed by governments are set to impede market growth in the foreseeable future.
Market Segmentation:
On the basis of type, the global telecom API market has been segmented into presence detection data, location determination data, service configuration management (SCM), and subscriber data management (SDM).
On the basis of service, the telecom API market has been segmented into payment API, SMS, MMS, and RCS API, location API, webRTC, identity management, and others.
On the basis of end-user, the global telecom API market has been segmented into enterprise developer, partner developer, internal telecom developer, and long tail developer.
Regional Analysis:
Telecom API Platform Market, on the basis of region, has been segmented into four major regions - North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). The regional segments are further studied on country-level in the assessment. North America is expected to maintain its prominent standing in the global market place through the evaluation period. Increasing dependence on cloud-based services by the organizations in the region are expected to have a favorable impact on the expansion of the regional telecom API market. The US, Canada, and Mexico are some of the prime country-level markets of the region. In addition, the already growing demand for 5G network is expected to accelerate growth pace of the telecom API market in the region over the assessment period. Thus, the report suggests that North America is expected to hold the largest share of the telecom API market over the next few years.
Asia Pacific is also anticipated to exhibit substantial growth in the forthcoming years. China, India, and Japan are projected to contribute to its development, asserts MRFR. However, Europe is posed to reflect steady growth in the foreseeable future.
Competitive Dashboard:
Telefónica S.A. (Spain), Cisco Systems (US), 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), LocationSmart (US), and Aspect Software, Inc. (US) are some of the eminent players participating in the global telecom API market. The developments in the telecom industry have led to rapid developments in the product portfolios of the market participants. This, in turn, has been assessed to generate intensified competition in the telecom API market over the next couple of years. In addition, investments in the global expansion are also projected to favor the healthy competition existing in the market place in the years to come. Some of the growth strategies to be implemented by the players are mergers & acquisitions, collaborations, agreements, etc
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