Global Telecom API Market
Dublin, Aug. 05, 2022 (GLOBE NEWSWIRE) -- The "Telecom API Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global telecom API market is projected to grow at a CAGR of 5.79% during the forecast period to reach US$186.492 billion by 2027, from US$125.721 billion in 2020. An Application Programming Interface (API) is a software intermediary that enables communication among different computer programs or computer devices.
The Telecom API allows carriers to pass valuable data sets to third parties and monetize them. Application programming interfaces have grown in popularity in the telecom business, as they have in other industries. Due to their improved capability and mobility, APIs have become the predominant mechanism for internal communication among operators and customers. The emergence of 5G technology is further expected to augment the market size in the forecasted period.
The rapid technological advancements in cloud-based services and IoT are expected to augment the growth of the Telecom API market in the forecasted period.
CPaaS (Communications-platforms-as-a-service) is a cloud-based system that uses APIs to integrate real-time audio, messaging, and video into existing business applications. With the growing demand for programmable networks in the organization, CPaaS solutions can assist by democratizing network access through API-based communications services. Ericsson, a Sweden-based multinational networking and telecommunications conglomerate, estimates that by 2025, the fast-growing CPaaS market is estimated to reach $22 billion, with annual growth of 30%. To realize its strategic plans, Ericsson has deployed the largest acquisition ever in its history since its inception.
In November 2021, with its $6.2 billion acquisition of Vonage, Ericsson dived deep into the Communications Platform-as-a-Service industry with the aim of expanding its API and 5G abilities to a higher level. The firms hope to generate new chances to accelerate initiatives and innovation by combining Vonage's developer community and customer base with Ericsson's network knowledge, 26,000 R&D personnel, and worldwide reach. Accelerating enterprise digitization and designing enhanced APIs enabled by 5G is also part of the firms' goals.
Strategic collaborations, innovations, and launches are expected to drive the market growth onward. For instance, AT&T, Deutsche Telekom, Salesforce, and China Telecom have all signed on to support the TM Forum's Open APIs. The four firms signed the TM Forum's Open API Manifesto to show their support for the latter. This deal commits them to utilize the TM Forum's APIs in their products and services and their RFP (Request for Proposal) processes.
Furthermore, several API-providing firms have also been rapidly developing their solutions to enhance their brand presence. For instance, in October 2020, RingCentral upgraded its services by adding a high-volume SMS messaging feature to its telephony platform. This feature enables many industries, such as healthcare providers, to send appointment reminders to their patients in mass numbers. This new feature lets users send up to 50 MB of data and about 10,000 messages at once. Another example of this is the renewed partnerships between Twilio and WhatsApp to optimize the developer experience.
SMS, MMS & RCS API
ID/SSO & Subscriber API
IVR/voice Store & Voice Control API
M2M & IoT API
Content Delivery API
By Type of User
Long Tail Developer
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Telecom API Market Analysis, By Deployment
6. Telecom API Market Analysis, By Type
7. Telecom API Market, By Type of User
8. Telecom API Market Analysis, By Geography
9. Competitive Environment and Analysis
10. COMPANY PROFILES
Vodafone Group PLC
Huawei Technologies Co., Ltd.
Google LLC (Apigee Corporation)
For more information about this report visit https://www.researchandmarkets.com/r/fj4mv9
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