Global Telecom API Market: Snapshot
The rising adoption of advanced technologies as well as growing applications of mobile internet for day-to-day operations is one of the key factors driving the growth of the global Telecom API Market. Technological advancements have led to cutting its competition between Market players and this has led to the introduction of 5G era.
SMS, MMS, and a rich communication services APIs have key shares within the global Telecom API Market. The growing need for monetization of the Telecom Carrier Services as well as the Improvement in the mobile app developer experience will ensure the growth of SMS, MMS, and RCS API segment. The segment for interactive voice response and voice control API will also Witness high growth in the years to come. With attractive services such as unwanted call blocking service, do not call service, and similar other services, telecom APIs continue to present attractive opportunities for Network operators and service providers.
Other factors driving the growth of the global Telecom API Market include the intense competition, resulting in the need to provide high quality services at low cost will bush industries towards telecom.
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Global Telecom API Market: Overview
Application programming interface (API) materializes the possibility of independently developing applications and services on a device, while functioning as a ‘middleware’ between the application and device resources. Apart from creating mobile apps, APIs can enviably benefit the telecom industry in various ways. Humbug analytics API, StreamWIDE call screening API, offline geolocation, and Recharge My API are some of the popular instances of public APIs. Telecom APIs can improve workflows, automate the delivery of common transactions and data, and streamline communications over a period of time.
Global Telecom API Market: Key Trends
Expected to rise at a commanding CAGR, the world telecom API market could heighten demand on the back of the monetization of services pertinent to telecom operation and excelling user experience for telecom API. The increment in the adoption of machine-to-machine (M2M) equipment and towering demand for forward-looking telecom services utilizing the Internet are anticipated to shepherd the growth of the world market.
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There are a few factors that could arrest the growth of the global telecom API market, such as certain government regulations and policies laid down for the telecommunications sector and commercial gap between developer needs and carrier products or offerings. However, the market holds the potential to offer opportunities on almost every parameter, viz. user and type.
The partner developer segment by user type is predicted to elevate at a higher rate while riding on the accessibility it provides to solution developers for various APIs. These APIs can be employed to develop different applications and their extensions to formulate and develop more sophisticated solutions for customers. With the enhancement of mobile app developer experience, the telecom API market for SMS, MMS, and rich communication service (RCS) could gain an impressive traction. The magnifying trend of offering more contextual experience to clients using mobile devices is foretold to help the location API market grow to a telling level.
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Global Telecom API Market: Market Potential
Of late, there have been a number of partnership activities being implemented to achieve benefits on both sides of an agreement. For instance, the launch of Nexmo API extension by Vonage for Zoho’s customer relationship management (CRM) platform is considered to offer streamlined contextual customer connections with the help of seamless SMS and voice messaging. Vonage, on the other hand, could benefit commercially from the integration with Zoho CRM by keeping businesses connected with robust cloud communications solutions. This partnership is prophesied to set the tone for businesses in the way they communicate with customers and the way customers reach them.
Global Telecom API Market: Regional Outlook
Although the international telecom API market could span its growth across different regions, including Europe and Rest of the World, Asia Pacific is foreseen to showcase a higher growth rate during the course of the forecast period. For 2016, North America was projected to secure a larger share in the international market. Stakeholders in the Asia Pacific market could be handsomely advantaged with ballooning innovative technological developments. A widespread adoption of API technologies is foreseen to be witnessed by Asia Pacific on account of the augmenting usage of mobile applications and smartphones.
Global Telecom API Market: Competitive Landscape
With a view to attain a tangible growth in the global telecom API market, players are prognosticated to rely on specific strategies, including new product development, mergers and acquisitions, agreements, and partnerships. Companies such as Telefonica, AT&T, Inc., Alcatel-Lucent, Twilio, Inc., and Vodafone Group PLC could be recognized among the leading players in the market.