The Global Telecom API Market is growing at a CAGR of 18.6% and is expected to reach USD 674.0 Bn by 2027.
The increasing need for monetizing telecom carrier services coupled with the rising demand for improving mobile application development experience is resulted to witness increasing adoption of the telecom API market. The advantages provided by the API such as sharing of data via one API platform without the need for duplicating the codes for each of the other applications, the ability to interact with each other to form consistent and innovative applications, and ability to share resources across companies and organizations internally in the telecom industry is leading to the adoption of messaging APIs such as the Short Message Service (SMS), Multimedia Messaging Service (MMS), and Rich Communication Service (RCS) API in the global telecom API market.
The applications development community across the world is increasingly getting aware of the telecom Application Programming Interface (API). The telecom API market is emerging as a channel of accessing data for a variety of communications-enabled applications in numerous sectors. The telecom network APIs take advantage of existing platforms and network infrastructure to deliver numerous new business opportunities. For instance, executives at global FinTech festival in September 2021, stated that the WhatsApp-API is benefiting to deliver digital, mobile-first solutions across the industries such as healthcare, telecom, finance, and services among others. Specifically in India, WhatsApp in coordination with telecommunication infrastructure is expected to build a successful roadmap ahead for enabling and digitizing businesses in the country on WhatsApp-API.
The partner developer segment is expected to witness significant growth during the forecast period followed by the internal developer. The partner developer helps to access different APIs and also use these APIs to develop applications and application extensions to build sophisticated solutions for clients. Developers can develop on various services such as selling, awareness campaign, marketing and rely on telecommunication organizations to manage certain business services and infrastructure.
Global Telecom API Market by Region Outlook (Revenue, USD Billion, 2021-2027)
In terms of geography, the North American region held the largest market share for the global telecom API market in the year 2020. Asia Pacific region is estimated to be the second-largest and the fastest-growing geographical segment in the global telecom API market analysis during the forecast period. The growth is majorly attributed to the rapid increase in mobile and internet users in the region. According to GSMA, an industry organization that represents the interests of mobile network operators worldwide, the mobile internet users in the Asia Pacific region were observed to be 1.9 billion in the year 2018 and are estimated to reach 2.7 billion by 2025. Additionally, the overall mobile operators generated revenue is expected to jump from USD 400 billion in 2018 to USD 433 billion by 2025.
The Global Telecom API Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the global telecom API market are: