The telecom application programming interface market size has the potential to grow by USD 2.24 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by service (SMR, payment, maps and location, VS, and identity management) and geography (APAC, Europe, North America, MEA, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AT&T Inc., Fortumo OU, Hewlett Packard Enterprise Co., Huawei Investment & Holding Co. Ltd., Oracle Corp., Telefonaktiebolaget LM Ericsson, Telefonica SA, Verizon Communications Inc., Vonage Holdings Corp., and ZTE Corp.
Market Overview
Browse TOC and LoE with selected illustrations and example pages of Telecom Application Programming Interface (API) Market
Market Competitive Analysis
The market is fragmented. AT&T Inc., Fortumo OU, and Hewlett Packard Enterprise Co. are some of the major market participants. The number of voice calls, SMS, and text messages has increased because of the limited face-to-face interaction between individuals owing to the outbreak of COVID-19. However, planned investments have been stalled, particularly in 5G. On the other hand, there is an increase in collaboration between players for the borrowing spectrum. Although the enhanced business value of APIs and end-to-end visibility will offer immense growth opportunities, the non-renewals of API subscription will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this telecom application programming interface market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this telecom application programming interface market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- AT&T Inc.
- Fortumo OU
- Hewlett Packard Enterprise Co.
- Huawei Investment & Holding Co. Ltd.
- Oracle Corp.
- Telefonaktiebolaget LM Ericsson
- Telefonica SA
- Verizon Communications Inc.
- Vonage Holdings Corp.
- ZTE Corp.
Telecom Application Programming Interface Market: Segmentation by Geography
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APAC was the largest telecom application programming interface market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the rise in the demand for mobile applications and enterprises adopting web-based applications will significantly drive telecom application programming interface market growth in this region over the forecast period.
37% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for telecom application programming interface in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Telecom Application Programming Interface Market: Segmentation by Service
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The growth rate of the API market for SMS, MMS, and RCS services will increase during the forecast period due to the emergence of applications, which include services such as SMS, MMS, and RCS. Moreover, SMS API does not require custom software either on devices or service provider systems. It also reduces the overall cost of the application, driving the segment's growth. Also, the service providers for SMS and MMS cover around 800 networks in more than 200 countries across the globe.
This report provides an accurate prediction of the contribution of all the segments to the growth of the telecom application programming interface market size.
Telecom Application Programming Interface Market: Key Drivers and Trends
The telecom API market forecast report has identified the enhanced business value of APIs and end-to-end visibility as the major factors that will have a positive impact on the market’s growth during the next few years. Telecom API offers end-to-end business visibility across the digital value chain and supply chain. Additionally, API keeps track of the health and performance of web applications or mobile applications and tracks product, service, trend, and market changes. By monitoring the health, API also assists organizations in picking out application errors and glitches and optimizes application performance. Furthermore, telecom API enables ease of learning and monetization, and this increases the business value of APIs. Owing to their benefits, the adoption of APIs will increase in the coming years, fueling market growth.
The growth of internet-connected devices is one of the key telecom API market trends that will gain traction in the industry in the forthcoming years. API plays a major role in managing internet connections and greatly assists the growth of internet-connected devices. Moreover, the migration from 3G to long-term evolution (LTE), the emergence of 5G, which increases the need for IPv6 transitions, and the growing use of IP-based connected devices will increase the adoption of API. The telecom API market will register a CAGR of close to 26% by 2024.
Telecom Application Programming Interface Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive telecom application programming interface market growth during the next five years
- Precise estimation of the telecom application programming interface market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the telecom application programming interface industry across APAC, Europe, North America, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of telecom application programming interface market vendors
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