According to the report, global telecom API market was valued at approximately USD 66.37 billion in 2016 and is expected to reach approximately USD 218.84 billion by 2022, growing at a CAGR of around 22% between 2017 and 2022.
An application programming interface (API) is a set of programming instructions & standards for accessing a web-based software application. A software company releases its API to the public so that other software developers can design the product that is powered by its service. For many enterprises, service providers, retailers, and web-based merchants APIs are becoming the essential part of a business for generating revenue through collaboration with external partners. Telecom API allows applications to handle & monitor functions between a computer and network for data and fax. APIs are implemented by function calls in the program, which gives the connection to the required subroutine for execution.
Increasing use of mobile internet and adoption of new technology is driving the demand of global telecom API market. In addition, high competition and need to provide high-quality service at low cost are pushing industries towards telecom. The telecom application programming interface market is driven by rising accessibility 4G LTE coupled with several recent trends in the telecom market. Technology is projected to play a key role in the growth of the telecom API market in the upcoming years. APIs offers many data plans and innovative services that suit different subscribers. Telecom APIs provide access to reporting and billing facilities. The access gained with the API improves performance and customer satisfaction, and most importantly, gets the creative OTT (over-the-top) providers working with legacy operators.
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Telecom API market is segmented on the basis of service, end user, and regions. Service segment includes SMS, MMS & RCS, maps & location, voice/speech, identity management, web-RTC and others. The voice/speech segment dominated the market with the largest share of the total market in 2016. This is mainly due to the tremendous use of voice API in the mobile application. Payments segment also accounted for significant share due to the increasing demand for payment API from developing regions. SMS, MMS & RCS and web-RTC are expected to exhibit significant growth during the forecast period.
User segment includes. The enterprise developer dominated the market and it has accounted 32% share of the total market in 2016. This is due to high revenue generation offered by enterprise developers while integrating telecom API into the specific functioning of telecom firms. Long tail developers are also anticipated to experience robust growth during the upcoming period.
North America was the largest market for telecom API in the world due to the wide adoption of smartphone and latest technology. In terms of revenue, North America accounted for over 36.0% share of total telecom API market in 2016. Telecom API market has the huge opportunity in Asia Pacific due to increasing demand for payment API services in this region.
Some of the prominent players operating in the global telecom API market are Tropo Inc., Fortumo OU., Nexmo Inc., Comverse Inc, Twilio Inc., LocationSmart, AT&T Inc., Apigee Corp., Orage, and Alcatel-Lucent, and Aepona Ltd.