Chicago, Dec. 20, 2023 (GLOBE NEWSWIRE) -- The global Telecom API Market size is projected to grow from USD 320.9 billion in 2023 to USD 664.9 billion by 2028, at a CAGR of 15.7% during the forecast period, according to a new report by MarketsandMarkets™. The rollout of 5G networks has created new opportunities for telecom API providers. The increased speed and capacity of 5G networks enable more advanced and data-intensive applications, requiring robust APIs to facilitate communication between devices and networks which will drive the market for telecom API.
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Telecom API Market Dynamics:
Drivers:
- Advancements in 5G technology to propel demand for innovative and high-speed telecom APIs.
- Increasing adoption of IoT devices and applications that demand scalable APIs for connectivity
- Increasing demand for mobile data and rise of digital communication
- Increasing popularity of open APIs
Restraints:
- Concerns about data security and privacy with new APIs.
- Compatibility issues with existing legacy systems that obstruct seamless integration
Opportunities:
- Development of marketplaces for buying and selling APIs.
- Valuable insights through API data analytics and creation of new revenue channels
List of Key Players in Telecom API Market:
- Twilio (US)
- AT&T (US)
- Vodafone Group (UK)
- Google (US)
- Telefonica (Spain)
- Verizon (US)
- Ericsson (Sweden)
- Deutsche Telekom (Germany)
- Orange SA (France)
- Cisco (US)
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The growth of IoT devices across various industries has led to increased demand for telecom APIs. These APIs enable devices to communicate with each other and with network infrastructure, facilitating the exchange of data and information in real-time.
By type of API, the location API segment is expected to grow with the highest CAGR during the forecast period
The location API stands as a pivotal tool, enabling seamless integration of location-based services into diverse applications. This API serves as a crucial bridge between developers and underlying location data sources, facilitating real-time access to geographical information. Its significance is evident across various use cases, from powering emergency services with precise location tracking for swift response to delivering personalized experiences through geo-fencing and targeted advertising.
By type of API, the SMS,MMS & RCS API segment is expected to hold the largest market size during the forecast period
SMS,MMS & RCS APIs play a pivotal role in the telecommunications landscape, serving as crucial tools for developers to integrate text and multimedia messaging capabilities into their applications. The SMS API allows for the seamless transmission of text messages, finding applications in various domains such as notification services, two-factor authentication, marketing, and appointment reminders. The MMS API extends these capabilities by enabling the transmission of multimedia content like images, videos, and audio files, fostering interactive and engaging messaging experiences.
Major players operating in this market ecosystem include Twilio (US), AT&T (US), Vodafone Group (UK), Google (US), Telefonica (Spain), Verizon (US), Ericsson (Sweden), Deutsche Telekom (Germany), Orange SA (France), Cisco (US), Nokia (Finland), Huawei (China), Bharti Airtel (India), Mavenir (US), Boku (US), RapidAPI (US), LocationSmart (US), SMSLOTS (Turkey), Xeebi (US), Plivo (US), Tenios (Germany), EnableX (Singapore), MessageBird (Netherlands), Telnyx (US). These players not only have a comprehensive and diverse product portfolio but also have a strong geographic presence. These companies offer several product offerings and have operations worldwide. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share. These companies focus on product launches, collaborations, acquisitions, contracts, and partnerships to strengthen their footprint through product innovations and extend their business reach.
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