Global Telecom API Market Report 2022-2030 Featuring AT&T, Alcatel-Lucent, Apigee, Orange, Twilio, Locationsmart, Tropo, Nexmo, Aepona, and Comverse
DUBLIN, Dec. 14, 2022 /PRNewswire/ -- The "Global Telecom API Market: Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
This report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The rising penetration of smartphones and internet usage has led to a high demand for mobile applications in recent years. A further rise in the penetration of mobile devices is expected to continue driving the demand for mobile applications in the following years. Similarly, the penetration of over-the-top (OTT) services to have witnessed a paradigm shift in the past few years.
In addition, advancement in internet services such as 4G LTE further drives the overall mobile applications and OTT content industry. This is expected to significantly fuel the mobile internet traffic rate thereby bolstering API services such as WebRTC, RCS, and location. This is one of the most significant factors fueling the telecom API market growth.
Due to the growing usage of mobile applications and OTT content service, telecom operators are facing substantial competition from the related service providers. Consumers are willing to pay more for internet bandwidth as compared to traditional telecom service. This forms a major concern for telecom operators in revenue generation.
Exposing API to external/internal application developers helps the telecom operators tackling the revenue generation challenge thereby improving its market position. Telecom API refers to API solution designed for providing an interface between mobile applications and some of their internal functionality. This may include sharing such a identity, location and others. Disclosing such information helps both telecom operators and application developers delivering better consumer experience.
The global telecom API market, based on services is led by the payment and voice API segment accounting collectively for more than forty percent of the total market revenue. These APIs are majorly used by enterprise developers thereby driving the overall segment revenue.
The segments are estimated to continue dominating the market throughout the forecast period. However, the WebRTC segment is projected to register the highest growth during the forecast period. The growth is estimated majorly due to the low cost of calling in WebRTC as compared to traditional voice services. SMS, MMS, and RCS segment are expected to witness moderate growth during the forecast period.
The overall telecom API market is dominated, in terms of revenue, by the Europe region. The market here is mainly driven by the high penetration of telecom API by the operators across mobile applications. Subsequently, the region is estimated to retain its dominant position in the market throughout the forecast period. The Europe market is followed, in terms of revenue, by North America and the Asia Pacific regions.
The Asia Pacific is projected to portray the highest growth rate during the forecast period, thereby appearing the most lucrative market for telecom API. China and India are the largest consumer markets with a strong consumer base for telecom operators. With the rising penetration of internet services and mobile applications, the telecom API market here is expected to expand substantially in the following years.
Key questions answered in this report
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SOURCE Research and Markets