Global Telecom API Market Set for Rapid Growth to Reach USD around 310.0 Billion by 2021
Deerfield Beach, FL -- (SBWIRE) -- 06/08/2017 -- Zion Market Research has published a new report titled "Telecom API (SMS, MMS & RCS, Payment, Voice/Speech, Maps & Location, Identity Management, Web-RTC and Others) Market For Internal Telecom Developer, Enterprise Developer and Partner Developer Users: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 - 2021" According to the report, the global telecom API market was valued at approximately USD 54.5 billion in 2015 and is expected to reach approximately USD 310.0 billion by 2021, growing at a CAGR of around 22.0 % between 2016 and 2021.
Application Programming Interface (API) is network infrastructure and platforms to develop applications for that system. API enhances the capabilities of an application developed by the group. It includes basic functions, such as dialing, answering, and hanging up a call. It is the set of symbols, which are exported and available to the users of a library to develop their applications. The API forms the interface between the application and the resources in the device. Telecom API helps to operate applications and services independently.
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The global telecom API market is expected to witness significant growth over the forecast period on account of the widespread use of telecom API in various application sectors. The major driving factor for the global telecom API market increasing adoption of smartphone coupled with advanced technology. Growing telecom infrastructure such as the website or mobile app or video conferencing is drive the telecom API market rapidly. Moreover, developing web-RTC technology is expected to propel the market growth in the years to come. However, insecure API's may pose the challenge to telecom API market. Furthermore, increasing use of the machine to machine devices are expected to open up new opportunities over the forecast period.Based on different services provided by telecom API, this market is segmented into SMS, MMS & RCS, maps & location, voice/speech, identity management, web-RTC and others. The voice/speech service held the majority share in 2015 in terms of revenue. This growth is mainly attributed to increasing use of voice API by partner and enterprise developers. Payment is another leading segment and expected to experience significant growth within the forecast period. This is mainly due to increasing use of mobile payment applications in the different region.
Based on different services provided by telecom API, this market is segmented into SMS, MMS & RCS, maps & location, voice/speech, identity management, web-RTC and others. The voice/speech service held the majority share in 2015 in terms of revenue. This growth is mainly attributed to increasing use of voice API by partner and enterprise developers. Payment is another leading segment and expected to experience significant growth within the forecast period. This is mainly due to increasing use of mobile payment applications in the different region.
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Enterprise developer, internal telecom developer, long tail developer, and partner developer are the key users include in telecom API market. The enterprise developer dominated the telecom API market and it accounted for almost 30.5% share of the total market in 2015. This was mainly due to strong revenue generation offered by enterprise developers while integrating telecom API. Long tail developer expected experience robust growth during the forecast period. Partner developer is another key outlet for telecom API.
By geography, North America was the largest market of telecom API in the world due to the wide adoption of smartphone and advancement in technology. In terms of revenue, North America accounted for over 34.0% share of total telecom API market in 2015. Moreover, telecom API market has the huge opportunity in the emerging markets of Asia Pacific due to increasing demand for payment API services in this region.
Some of the leading players include in global telecom API markets such as Twilio Inc., Tropo Inc., Location Smart, AT&T Inc., Apigee Corp., Nexmo Inc., Comverse Inc., Aepona Ltd., Fortumo OU, Orage, and Alcatel-Luce.
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