North America is expected to dominate the telecom API market during the forecast period.
The global telecom API market is anticipated to reach ~US$ 1 Trn by 2030. The telecom API market is projected to expand at a CAGR of ~19% from 2020 to 2030 based on revenue. According to the report, North America was a significant contributor to the telecom API market in terms of revenue in 2019. The prominent market share of the region is due to the high adoption of telecom APIs, and increasing adoption of 5G, especially in the U.S. and Canada. The telecom API market in Asia Pacific is expected to expand at a high CAGR during the forecast period.
Expansion of Mobile Internet Networks and Advent of 5G Driving Telecom API Market
Advent of 5G technologies is expected to boost the telecom API market during the forecast period. According to GSMA, 5G connections are expected to reach 1.8 billion by 2025. As per the TMR analysis, at present, mobile 5G is available from 46 operators in 24 markets across the globe. Additionally, around 79 operators across the globe are planning to launch 5G mobile services during the forecast period. The increasing adoption of mobile internet and cloud computing is expected to boost the use of mobile applications in the coming years. According to the Cisco Visual Networking Index 2017-2022 report, the monthly global mobile data traffic is expected to rise at a CAGR of around 46% from 2017 to 2022 and is anticipated to surpass 77.5 Exabytes by 2022. Voice over Internet Protocol (VoIP) and mobile video streaming are expected to contribute majority of mobile data traffic. According GSMA Intelligence, unique mobile subscribers are expected to reach 5.8 billion by 2025 from 5.2 billion in 2019, at a CAGR of 1.9%. Mobile Internet users are expected to reach 5 billion by 2025, from 3.8 billion in 2019, at a CAGR of 4.6%. Sim connections are projected to reach 8.8 billion by 2025 from 8.0 billion in 2019.
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Telecom API: Market Segmentation
The global telecom API market has been segmented in terms of service type, end user, and region. Based on service type, the telecom API market has been classified into payment, SMS, MMS, and RCS, maps and location, voice/speech, identity management, WebRTC, and others (device information, Do not Disturb, etc.). The WebRTC segment dominated the global telecom API market in 2019 and is expected to maintain its dominance during the forecast period. Based on end user, the telecom API market has been categorized into enterprise developer, internal telecom developer, partner developer, and long tail developer. The enterprise developer segment is likely to account for leading share in the global telecom API market. The segment is expected to continue its dominance in the coming years.
Telecom API Market: Regional Outlook
In terms of region, the global telecom API market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the telecom API market during the forecast period. The U.S. is expected to lead the North America telecom API market. The U.S. market is at the forefront in terms of adoption of 5G networks by telecom carriers. According to GSMA Intelligence, the penetration of 5G connections in North America is expected to reach 48% of the total connections by the end of 2025. The telecom API market in Asia Pacific is expected to expand at a high CAGR during the forecast period. The market in Middle East & Africa and South America is also projected to expand moderately over the forecast period.
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The report provides in-depth segment analysis of the global telecom API market, thereby providing valuable insights at macro as well as micro levels. In-depth geographic analysis has also been included as part of the telecom API market.
Telecom API Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global telecom API market. Key players profiled in the report include AT&T, Inc., Cisco Systems, Inc., Orange S.A., Verizon Communications Inc., Google, LLC, Fortumo OU, Huawei Technologies Co., Ltd., LocationSmart, and Twilio, Inc.
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Source: EIN Presswire