Telecom API Market Share is Expected to Earn $514.3
New York, USA, June 09, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR),” Telecom API Market Research Report, by Type, Service (SMS, Payment API, Location API and Others) and End User (Enterprise, Internal Telecom Developer and Others) – Global Forecast to 2030 “, Market to Hit 514.3 Billion USD at 17.3% CAGR by 2030.
Telecom API Market Overview
Telecommunications APIs that enable SMS, video, phone, and chat are driving operator adoption of cloud communication platforms. The need for mobile recharge APIs and telecommunications APIs has exploded. Companies publish their own APIs to allow developers to include their own services in their applications and programs. Twilio is a US-based cloud communications startup that provides an API for developers to integrate its cloud network into their applications. This will drive the growth of the Telecom API market over the forecast period.
|Market size||$514.3 billion (2030)|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||By Type, Services|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Main suppliers||LocationSmart (USA), Nokia Corporation (Finland), Vodafone Group PLC (UK), Fortumo (Estonia), Orange SA (France), Verizon Communications Inc. (USA), Google (USA), Telefónica SA (Spain), AT&T Inc (USA), Vonage (USA)|
|Key market opportunities||Growing interest in leading smart cities and advanced implementation of local models are also helping to fuel the spread of this market.|
|Key Market Drivers||Telecommunications API applications result in improved customer experience and the growth of large-scale software programs of the current era.|
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Growing production of advanced and innovative electronic devices to provide strong opportunities
Growing production of various advanced and innovative electronic gadgets used for telecom services will provide strong opportunities for the telecom API market over the forecast period.
Commercial gap in carriers’ product offerings to act as a market restriction
The commercial gap in carriers’ product offerings and developers’ needs, coupled with government regulations and policies related to the telecommunications industry, may act as market restraints during the forecast period.
Security concerns to act as market challenge
Security issues may pose a challenge for the market during the forecast period.
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Telecom API market segmentation
The global Telecom API market is bifurcated based on end-user, service, and type.
By Type, the telecommunications API market is segmented into location data, presence detection and others.
By service, Payment API will dominate the market over the forecast period.
By end user, the company will dominate the market over the forecast period.
COVID-19 Analysis of the Telecom API Market
During the global COVID-19 pandemic, telecom API vendors have been working on solutions to address the situation and provide greater accessibility. For example, Vonage, a global provider of business cloud communications, announced the launch of Vonage Video Conferencing, a free desktop and mobile video collaboration tool, in April 2020. (VVC). The need for telehealth, remote work, telehealth, and online education has increased amid the public health crisis, and this video API solution is in high demand. Many prominent communication service providers and technology vendors active in the global telecom API market had to adjust their strategy in 2020 due to the COVID-19 crisis, owing to the increased demand for connection. This video collaboration tool works with API solutions for remote work, telehealth, and online education. Application programming interfaces for contact tracing applications have been released by Apple and Google. Only public health authorities are allowed to use the APIs to build contact tracing apps. During the pandemic, all these events are expected to increase the demand for telecommunications APIs. To expand into new markets and adapt business models in functions such as sales, security and support, large companies have implemented new methods of growth. Smartphone data usage has grown at an unprecedented rate, which is positively benefiting the market. During this pandemic, many companies are coming up with new telecommunications products that help people do their jobs more efficiently.
Key Players of Telecom API Market
Prominent market players profiled in the global Telecom API market report include,
- LocationSmart (US)
- Nokia Corporation (Finland)
- Vodafone Group PLC (UK)
- Fortumo (Estonia)
- Orange S.A. (France)
- Verizon Communications Inc. (USA)
- Google (US)
- Telefonica SA (Spain)
- AT&T Inc. (USA)
- Vonage (USA)
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Telecom API Market Regional Analysis
North America to Dominate Telecom API Market
North America is the largest revenue-generating market for telecom APIs owing to the widespread adoption of cloud-based technology in Canada, Mexico, and the United States. The market in the region is benefiting from consumers’ extraordinary financial position and high technological expertise, which is driving the rise of technologies such as 5G. The actors of the territory benefit from the increasing frequency of technical advances. Additionally, a growing number of telecom API developers are organizing expert groups on vehicle-to-cloud connectivity and voice recognition to provide standardized API sets. This is another aspect that could influence the growth of the market during the considered period.
In 2021, North America held the largest market share accounting for over 29% of the total for the forecast period. The considerable presence of different leading companies in the telecom API market in the region including AT&T, Inc., Broadcom, Inc., Oracle Corporation, Google LLC and others can be attributed to this rise. In addition, the rapid adoption of technologies such as 4G and advancements in 5G technology are contributing significantly to the rapid development of the market in the region. Communication services such as video and voice chat, as well as voice and video integration services, are delivered professionally through the use of 4G/5G technology and APIs, and the productivity of business organizations is improved. raised to a higher level. Companies in the region have been seen implementing various technical breakthroughs such as 5G networks, high definition video, virtual reality, huge connected IoT networks and fully autonomous vehicles, as well as providing unique solutions in the market. telecommunications APIs.
APAC will have admirable growth in the telecommunications API market
Following the rapid technological breakthroughs of Japan, India and China, APAC could experience significant expansion in the global market. These countries also have a significant need for smartphones, which contributes to the growth of the telecom API business. The increased need for deployment of M2M devices could enhance the strength of the market in the coming years. Due to the high internet penetration and growth of the telecom industry in Asia-Pacific, the region is growing at a rapid pace. In 2020, Asia-Pacific holds a huge market share and is expected to grow at a rapid pace in the coming years. India is one of the fastest digitizing countries in the world, due to an explosion in mobile connectivity, widespread internet infrastructure, entry of start-ups in the field of digital transformation and the exponential expansion of data consumption. Millions of Indians will thus gain new livelihoods, new services and wealth, which will drive the growth of the regional market during the forecast period.
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