Global Telecom API Market to Grow at 15.2% During 2024-2032, Impelled by the Increasing Number of Mobile Service Subscribers

December 09, 2021 | Technology & Media

The latest report by IMARC Group, titled “Telecom API Market Report by Type (Messaging, WebRTC, Payment, IVR, Location, and Others), User Type (Enterprise Developers, Internal Telecom Developers, Partner Developers, Long Tail Developers), Deployment (On-premises, Cloud-based, Hybrid), Industry Vertical (BFSI, Healthcare and Life Sciences, Telecommunications and ITES, Government and Public Sector, Manufacturing, Consumer Goods and Retail, and Others), and Region 2024-2032,” finds that the global telecom API market size reached US$ 335.6 Billion in 2023. A telecom application programming interface (API) is a set of communication protocols and tools used to develop mobile applications. It assists in improving internal workflows and enhancing customer experiences and engagement. Moreover, telecom API also aids in building business-to-business (B2B) offerings. As a result, it finds extensive applications in various industry verticals across the globe.

Global Telecom API Market Trends:

The market is primarily driven by the increasing number of mobile service subscribers across the globe as telecom APIs are widely used in all mobile applications and services such as voice and video calling, messaging, mobile payments and location tracking. Apart from this, several companies worldwide are developing new revenue systems owing to the growing digitization of the telecommunications industry. As a result, telecom carriers are adopting APIs to improve the quality of their mobile communications, broadband services, and open-source technologies. Furthermore, with advancements in technology, key players are integrating the Internet of Things (IoT) with telecom APIs to help monetize additional connections and network traffic. In addition, the increasing data consumption, rapid development of the information technology (IT) sector, and the emergence of start-ups in the digital transformation space in developing countries are anticipated to strengthen the market growth in the upcoming years. Looking forward, IMARC Group expects the market to grow at a CAGR of 15.2% during the forecast period (2024-2032).

Market Summary:

On the basis of the type, the market has been segmented into messaging, webRTC, payment, IVR, location, and others.
Based on the user type, the market has been divided into enterprise, internal telecom, partner, and long tail developers.
On the basis of the deployment, the market has been classified into on-premises, cloud-based, and hybrid.
The market has been segregated based on the industry vertical into BFSI, healthcare and life sciences, telecommunications and ITES, government and public sector, manufacturing, consumer goods and retail, and others.
On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been examined in the report, with the detailed profiles of some of the key players being Alcatel-Lucent S.A. (Nokia Corporation), AT&T Inc., Cisco Systems Inc, Google LLC (Alphabet Inc.), Huawei Technologies Co. Ltd., Infobip Ltd, LocationSmart, Orange S.A., Twilio Inc., Verizon Communications Inc., and Vonage Holdings Corp.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Type, User Type, Deployment, Industry Vertical, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Alcatel-Lucent S.A. (Nokia Corporation), AT&T Inc., Cisco Systems Inc, Google LLC (Alphabet Inc.), Huawei Technologies Co. Ltd., Infobip Ltd, LocationSmart, Orange S.A., Twilio Inc., Verizon Communications Inc. and Vonage Holdings Corp
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Telecom API Market to Grow at 15.2% During 2024-2032, Impelled by the Increasing Number of Mobile Service Subscribers

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