Telecom API Market

Market Overview:

The global telecom API market size reached US$ 285.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 750.3 Billion by 2028, exhibiting a growth rate (CAGR) of 17.3% during 2023-2028.

A telecom application programming interface (API) refers to a set of communication protocols and tools that assist in developing mobile applications. It capitalizes on the existing network infrastructure to create a vast array of business opportunities, simplify the development process, and eliminate the need to develop every feature from scratch. It also improves internal workflows and enhances customer experiences and engagement. Apart from this, as it aids in building business-to-business (B2B) offerings, it finds extensive applications in various industry verticals across the globe.

Telecom API Market Trends:

There is currently a rise in the number of mobile service subscribers around the world. This represents one of the key factors propelling the growth of the market. Telecom APIs are widely utilized in all mobile applications and services, including messaging, voice and video calling, mobile payments, and location tracking. Besides this, the growing digitization of the telecommunication industry has propelled companies worldwide to develop new revenue systems. As a result, telecom carriers are employing APIs to improve the quality and reliability of their mobile communications, broadband services, and open-source technologies. Furthermore, several key players are introducing numerous advancements by integrating the Internet of Things (IoT) with telecom APIs to help monetize additional connections and network traffic and develop a variety of new services. This, coupled with the increasing penetration of cloud-based services in the telecom sector, is creating a favorable market outlook. Other major factors, including the rapid development of the information technology (IT) sector, a significant increase in data consumption and the emergence of start-ups in the digital transformation space, especially in developing countries, are strengthening the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global telecom API market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, user type, deployment and industry vertical.

Breakup by Type:

• Messaging
• WebRTC
• Payment
• IVR
• Location
• Others

Breakup by User Type:

• Enterprise Developers
• Internal Telecom Developers
• Partner Developers
• Long Tail Developers
   

Breakup by Deployment:

• On-premises
• Cloud-based
• Hybrid
   

Breakup by Industry Vertical:

• BFSI
• Healthcare and Life Sciences
• Telecommunications and ITES
• Government and Public Sector
• Manufacturing, Consumer Goods and Retail
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles 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 Coverage: