(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 10, 2024 (GLOBE NEWSWIRE) -- The "Telecom API market Report by Type, User Type, Deployment, industry Vertical, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global telecom API market reached US$ 335.6 billion in 2023. Looking forward, the market is expected to reach US$ 1.24 trillion by 2032, exhibiting a growth rate (CAGR) of 15.7% during 2023-2032. The rising demand for mobile and internet services, digital transformation, growing IoT industry, and advancements in 5G technology are primarily driving the market growth.
Telecom API Market Analysis: Major Market Drivers: A rise in the number of mobile service subscribers around the world coupled with the growing digitization of the telecommunication industry has propelled companies worldwide to develop new revenue systems, is driving the market growth. Key Market Trends: Integration of the Internet of Things (IoT) with telecom APIs to help monetize additional connections and network traffic and develop a variety of new services coupled with the rapid development of the information technology (IT) sector, a significant increase in data consumption and the emergence of start-ups in the digital transformation space, especially in developing countries, are strengthening the growth of the market. Geographical Trends: According to the telecom API market dynamics, North America currently dominates the global market. With increasing reliance on mobile devices and IoT (Internet of Things) applications, there is a growing demand for telecom APIs that facilitate connectivity and communication between devices and networks. Challenges and Opportunities: Security and privacy concerns associated with telecom APIs, and regulatory compliances are hampering the market growth. However, telecom APIs play a crucial role in enabling digital transformation across industries. Enterprises are increasingly integrating telecom services into their applications to enhance customer experiences and operational efficiency.
Global Telecom API Industry Segmentation
This report provides an analysis of the key trends in each segment of the global telecom API market report, along with forecasts at the global, regional, and country levels from 2024-2032. The report has categorized the market based on type, user type, deployment, industry vertical, and region.
Breakup by Type:
Messaging WebRTC Payment IVR Location Others
Messaging accounts for the majority of the global market share
As per the telecom API market outlook, enterprise developers utilize Telecom APIs to create customized solutions tailored to specific business needs and industry requirements. APIs provide access to telecom network functionalities, such as voice calling, SMS messaging, location-based services, and real-time data transmission, enabling developers to integrate these capabilities into enterprise applications seamlessly.
Breakup by User:
Enterprise Developers Internal Telecom Developers Partner Developers Long Tail Developers
Enterprise developers currently exhibit a clear dominance in the market
As per the telecom API market outlook, enterprise developers utilize Telecom APIs to create customized solutions tailored to specific business needs and industry requirements. APIs provide access to telecom network functionalities, such as voice calling, SMS messaging, location-based services, and real-time data transmission, enabling developers to integrate these capabilities into enterprise applications seamlessly.
Breakup by Deployment:
On-premises Cloud-based Hybrid
Hybrid holds the largest market share
Telecom operators often have existing on-premises infrastructure and legacy systems that cannot easily transition to fully cloud-based solutions. A hybrid approach allows operators to integrate new cloud-based telecom APIs with their on-premises systems, ensuring compatibility and continuity while leveraging the scalability and flexibility of cloud resources. For instance, in February 2024, NTT DOCOMO INC., Japan's mobile operator with over 89 million subscribers, chose AWS to commercially build its countrywide 5G Open Radio Access Network (RAN) in Japan. AWS assists DOCOMO in creating its 5G Core on AWS, which operates in a hybrid cloud setting.
Breakup by Industry Vertical:
BFSI Healthcare and Life Sciences Telecommunications and ITES Government and Public Sector Manufacturing, Consumer Goods and Retail Others
BFSI relies heavily on telecom services for secure and efficient communication, data transmission, and financial transactions. Moreover, healthcare sectors require reliable telecom services for telemedicine, remote patient monitoring, digital health records, and medical imaging. Furthermore, telecom companies themselves require advanced infrastructure to support their operations and customer services. Apart from this, governments use telecom services for public safety, emergency services, e-governance, and citizen engagement.
Breakup by Region:
North America Asia-Pacific Europe Latin America Middle East and Africa
North America was the largest market for telecom API
According to the telecom API market statistics, North America has high mobile and internet penetration rates, with a large population using smartphones and accessing digital services. For instance, according to the International Telecommunication Union, in 2023, the number of mobile subscriptions in the Americas region totaled over 1.14 billion. Telecom APIs enable developers to integrate voice calling, messaging, and data services into applications, catering to the growing demand for mobile connectivity and enhanced user experiences.
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global telecom API market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered are:
Alcatel-Lucent S.A. (Nokia Corporation) AT&T Inc. Cisco Systems Inc. Google LLC (Alphabet Inc.) Huawei Technologies Co. Ltd. Infobip Ltd. LocationSmart Orange S.A. Twilio Inc. Verizon Communications Inc. Vonage Holdings Corp.
Telecom API Market Recent Developments:
May 2024: Telecom Argentina and OSS vendor Intraway planned to collaborate for developing a platform that would allow regional CSPs to monetize their networks via Open APIs under the GSMA Open Gateway program. February 2024: Telkomsel, Indosat Ooredoo Hutchison, XL Axiata, and Smartfren, telecom operators based in Indonesia launched three Application Programming Interface (API) services: number verification, SIM swapping, and device location. February 2024: NTT DOCOMO INC., Japan's mobile operator with over 89 million subscribers, chose AWS to commercially build its countrywide 5G Open Radio Access Network (RAN) in Japan.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $335.6 Billion |
| Forecasted Market Value (USD) by 2032 | $1.24 Trillion |
| Compound Annual Growth Rate | 15.7% |
| Regions Covered | Global |
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