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Kenneth Research, in its repository of market research reports, have recently added a report on Telecom API Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Telecom API Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Telecom API Market products.
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The Global Telecom API Market was valued at USD 93.82 billion in 2016 and is projected to reach USD 473.66 billion by 2025, growing at a CAGR of 19.71% from 2017 to 2025.
An API (application programming interface) is a set of programming instructions & standards for accessing a web-based software application. Telecom API presents new opportunities for network operators and service providers. Telecom API provides benefits such as a lesser time to market, relative savings in cost, and optimum quality of service. Telecom API's enable a third party company to access data from a telecom network operators. Telecom API helps application developers to integrate various services such as payment, voice, SMS and WebRTC into their mobile application which helps application developers to enhance their customer experience and market their mobile applications among end-users.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Increasing Mobile Phone Users
1.2 Adoption of New Technologies
1.3 Need to Provide High-Quality Service at Low Cost
2. Market Restraints
2.1 Lack of Awareness about the Technology
Market Segmentation:
The Global Telecom API Market is segmented on the basis of service type, user type, and region.
1. By Service Type:
1.1 Payment
1.2 SMS, MMS and RCS
1.3 Maps and Location
1.4 Speech
1.5 Identity Management
1.6 WebRTC
1.7 Others
2. By User Type:
2.1 Partner Developer
2.2 Enterprise Developer
2.3 Long Tail Developer
2.4 Internal Telecom Developer
2.5 Others
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3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Twillo, Inc.
2. Orange SA
3. Alcatel-Lucent S.A.
4. Verizon Communications, Inc
5. AT&T, Inc.
6. Nexmo, Inc
7. Telefonica S.A.
8. Fortumo.
9. Apigee Corporation
10. Tropo, Inc
11. Locationsmart
12. Vodafone Group PLC
13. Aspect Software
.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Telecom API Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
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