Market Research Report
Global Telecom Api Market Forecast 2022-2030
|Global Telecom Api Market Forecast 2022-2030|
Published: May 10, 2022
Content info: 230 Pages
Delivery time: 2-3 business days
The global telecom API market is expected to register a CAGR of 16.22% during the forecast period, 2022-2030. The market growth is accredited to the growing adoption of cloud-based technologies and the fast-paced technological advancements.
Telecom API is used for operating web-based services like cloud-based telecom software, identity management, and banking by integrating programming standard protocols and instructions. Also, it offers cost-efficient solutions by improving the system performance of the web-based applications. These communication protocols and tools enable agility in mobile application developments, since it facilitates the developers to prioritize the development of primary functions without needing to develop them for scratch.
API has surging applications in domains that entail mobile applications and services like location tracking apps, messaging apps, online mobile payments, and video & voice calls. Additionally, the rising number of mobile service subscribers has resulted in a significant demand for mobile-based technologies, which further raises the demand for telecom APIs, given their scalability. Such factors drive the global telecom API market growth. However, the market growth restraints include security concerns and strict government regulations and policies.
The global telecom API market assessment includes the geographical analysis of North America, Europe, Asia-Pacific, and Rest of World. North America is the largest revenue-generating region in the global market. One of the key factors contributing to the region's growth prospects are the significant investments in R&D activities to find new avenues for their products.
The presence of a large number of prominent market players in different regions intensifies the high level of market rivalry. Some of the large companies in the market include Verizon Communications Inc, Orange SA, Vodafone Group PLC, Nexmo Inc, etc.