According to a market report, published by Sheer Analytics and Insights, the global telecom API platform market was valued at $200.1 billion in 2021 and it is expected to reach $950.1 billion at a CAGR of 14.70% between 2022 and 2032. The Telecom API platform maximizes the current network framework to make a wide variety of market opportunities for carriers around the world. It reveals its services and solutions to a large number of external developers and is a major source of revenue for telecom operators. Benefits such as revenue generation and better customer experiences are helping the API operators, which are driving the telecom API platform market during the forecast period. Key factors such as improving telecom API user experience and monetization of telecom operator services, rising usage of mobile phones, and mobile connections across various regions are expected to propel the growth of the market during the upcoming years. Along with these, the adoption of IoT-enabled devices and software is also estimated to drive market growth across the globe in upcoming years. However, strict government regulations for the telecom API platform sectors are hindering market growth. Wide usage of various types of mobile application is likely to create space for the telecom API platform market in the coming years.
The need for smart mobile applications and data management applications is rising due to the increasing adoption of smartphones. Major companies across the globe are operating the telecom API platform market by collaborating with API service providers to expand their business growth across the global market. Additionally, cloud technologies and mobile internet is expected to drive the telecom API market in near future. The telecom APIs enhances the services and their quality and it also helps software developers increase their cost savings. The rising access to the 5G LTE network is estimated to increase the adoption of telecom API. Besides these, the telecom API platform is collaborating with API service providers to develop more new and innovative products for worldwide end-users, which is anticipated to drive market growth during the upcoming years.
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Telecom API platforms enable telecom operators to establish their API and expose their services and solutions to worldwide external developers. Therefore, lots of telecom operators are trying to set up an API platform since it is one of the major potential sources of revenue share for them. Moreover, with the help of leading telecom API and communications-enabled app providers such as Ribbon Communications, AT&T has launched an API marketplace, which has driven the market growth in last few years. In developing countries across the Asia-Pacific region such as India, China, Japan, South Korea, among others, telecom API operators offer various sets of APIs to startups, which can combine to make new services in these developing countries, which is expected to drive the growth of the telecom API platform market during the forecast period.
According to the study, key players such as Aspect Software Call Center (U.S), Nokia Telecommunications (Finland), AT&T Telecommunications(U.S), Alphabet Inc. Multinational Conglomerate (U.S), Boku Inc. (U.S), Location Smart (U.S), Orange S.A Telecom (France), Twilio (U.S), Telefonica Telecommunications (Spain), Vonage Telecommunication Company (U.S), Cisco Networking Hardware Company (U.S), Verizon Communications (U.S), Vodafone Group Telecommunications (U.K), Xura (U.S), Ericsson Telecommunications (Sweden), Oracle Corporation Computer Software (U.S), Hewlett Packard Enterprise Software (U.S), Sopra Steria Software Developer (France), Huawei Invest and Holding Co Limited (China), ZTE Manufacturing (China), Aepona Limited (U.K) Infobip (U.K), Anthology Inc. Software (U.S), Avaya Holdings (U.S), Open Text Software (Canada), Microsoft Corporation Technology (U.S), IBM Technology (U.S), among others.
The Global Telecom API Platform Market Has Been Segmented Into:
The Global Telecom API Platform Market – By Telecom Operator Type:
The Global Telecom API Platform Market – By End-Users:
The Global Telecom API Platform Market –By Application Type:
The Global Telecom API Platform Market – By Regions:
North America
Europe
Asia-Pacific
LAMEA
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