Global Telecom API Market To Expand With A CAGR Of 20.2% From 2016 To 2023 – Credence Research
According to a new market research report published by Credence Research “Telecom API Market (Service–SMS, MMS and RCS, Payment, Maps and Location, Identity Management, Voice/Speech, WebRTC and Others) – Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 – 2023”,the global telecom APImarket was valued at US$59.44Bn in 2015 and is estimated to expandwith a CAGR of 20.2% from 2016 to 2023.
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With the ever rising penetration of smartphones coupled with internet services, there has been an increased need for alternatives in revenue generation for telecom operators. In the recent years, mobile applications have witnessed profound adoption among mobile devices users. Although the demand for telecom operator-based internet bandwidth has increased substantially in the recent years, neither consumer nor operators are satisfied with the demand-supply gap (cost). In addition, due to increasing use of over-the-top (OTT) content services, consumers pay more for internet bandwidth as compared to traditional telecom services. However, internet bandwidth is a small source of revenue which becomes a concern for telecom operators, irrespective of the demand.
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As an attempt to counter the aforementioned threat, telecom operators begun to expose their APIs to internal as well as external application developers. By providing valuable information such as location, billing and messaging, telecom operators get an additional and reliable source of revenue. The telecom API market is largely driven by the rising penetration of smartphones, mobile applications and OTT content services worldwide. Currently, merely one fourth of the total mobile applications use APIs leaving large room for telecom API providers. With the further rise in mobile applications, the demand for telecom API is estimated to increase substantially in the coming years.
The global telecom APImarket is highly competitive in nature with large number of telecom API providers struggling to develop value-added services. Majority of the telecom API providers emphasize on providing API service for SMS, MMS and identity management to the telecom operators. The nature of API service is largely dependent upon the requirement of mobile applications popularly used. Subsequently, the trend of providing messaging and identity management API is expected to continue during the forecast period. Another major area of focus for the telecom API providers is upcoming applications such as WebRTC. Due to its rising popularity, many telecom API providers are expected to focus on providing WebRTC API to telecom operators in the coming years.
- Focus on providing telecom API for SMS, MMS, identity management and WebRTC
- Focus on markets such as India, China and the U.S. having huge consumer
- Partnership with telecom operators
- Development of value-added services
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