The global telecom API market size is expected to reach USD 590.0 billion by 2027 growing at a CAGR of 21.9%, according to a study conducted by Grand View Research, Inc. Increasing demand for mobile phones that include features, such as GPS services, digital wallets, and Near-Field Communication (NFC), is anticipated to drive the market over the forecast period. Application Programming Interface (API) enables developers to create applications that can leverage the capabilities of the aforementioned features and services.
Rising usage of Internet of Things (IoT) in the telecom sector is expected to upkeep the market growth over the forecast period. Telecom companies, such as AT&T, Inc., Orange S.A., and Verizon, are providing their IoT platforms to various sectors, such as retail, manufacturing, utilities, and transportation. For the IoT platform by Orange S.A. named Live Objects, connections are made centrally through APIs or a web-portal. Data management for the company’s IoT platform is done through a software that is capable of collecting and visualizing data through standard APIs.
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Web Real-Time Communication (WebRTC) consists of numerous APIs and protocols that operate simultaneously to enable data sharing and peer-to-peer teleconferencing without the need for installing any additional plug-ins. Market is expected to experience significant growth owing to the increasing adoption of WebRTC by various organizations, such as Vodafone Group, Cisco Systems, Inc., and AT&T, Inc. However, stringent government regulations may act as an inhibitor to market growth.
Telecom API Market Report Highlights
• The messaging API type segment held the largest market share in 2019 and is projected to retain its leading position throughout the forecast period
• The segment’s share is attributed to the increasing adoption of A2P messaging by organizations from various sectors to promote their products and services
• The partner developer end-user segment is projected to expand at the fastest CAGR of more than 25% during the forecast period
• This growth is credited to the increasing number of internet users, which has led to the adoption of Over-The-Top (OTT) media services among organizations
• Asia Pacific is anticipated to be the fastest-growing regional market in the next seven years due to increasing number of smartphone users in developing countries of APAC
• Major global companies in this market are AT&T, Inc.; Google LLC; Huawei Technologies Co., Ltd.; and LocationSmart
• These companies have undertaken business strategies, such as collaborations and M&A, to expand their product portfolio and boost the market position
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Telecom API Market Segmentation
Grand View Research has segmented the global telecom API market on the basis of type, end user, and region:
Telecom API Type Outlook (Revenue, USD Billion, 2016 - 2027)
• Messaging
• WebRTC
• Payment
• IVR
• Location
• Others
Telecom API End-user Outlook (Revenue, USD Billion, 2016 - 2027)
• Enterprise Developers
• Internal Telecom Developers
• Partner Developers
• Long Tail Developers
Telecom API Regional Outlook (Revenue, USD Billion, 2016 - 2027)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o China
o India
o Japan
• Latin America
o Brazil
o Mexico
• Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.