Some of the prominent companies active in the global telecom API market are Fortumo OU., Tropo Inc., Comverse Inc, Nexmo Inc., LocationSmart, Twilio Inc., Apigee Corp., AT&T Inc., Aepona Ltd., Alcatel-Lucent, and Orage among others. These players are claimed to boost the development of global telecom API market in the years to come.
As per the analysts at Zion Market Research, global telecom API market was capitalized at almost USD 66.37 Billion in 2016 and is likely to cross almost USD 218.84 Billion by 2022, developing at a CAGR of almost 22% from 2017 to 2022.
Adoption Of New Technology And Elevating Employment Of Mobile Internet To Drive The Telecom API Market
Application programming interface (API) is a bunch of programming standards and instructions for authorizing a web-support software program. A software firm launches its API to the users so that other developers of the software can design goods that are fueled by its service. Adoption of new technology and elevating employment of mobile Internet is boosting the requirement of global telecom API market. Apart from this, need to offer high-quality service at low price and high competition are forcing the industry towards telecom API, thereby boosting the telecom API market. Rising access to 4G LTE network all over the world will additionally tower the growth of telecom API market. On the other hand, lack of technical know-how and awareness are some of the hurdles that are impacting the development of telecom API market.
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Adoption of new trend and technology development are propelling the long-term future development of telecom API market. In addition to this, increasing efforts by market players to sustain in the market is also one more reason for the development of global telecom API market. For example, in November 2017, American Tower Corporation made an entry into definitive deals with Idea Cellular Limited and Vodafone India Limited through which it is likely to add a collective of almost 20,000 communications locations to its current portfolio in India. In addition, rising job opportunities will also boost the telecom API market.
Enterprise Developer User Segment To Rule The Telecom API Market In The Forecast Period
The telecom API market is divided based on users, services, and regions. The enterprise developer user section ruled the telecom API market and it has added up for 32% share of the global telecom API market in 2015. This is owing to high income generation provided by enterprise developers while incorporating telecom API into the particular structure of telecom companies. Long tail developers are also likely to see robust development in telecom API market in the upcoming period. Service segment of telecom API market comprises MMS & RCS, SMS, voice/speech, maps & location, web-RTC, identity management, and others.
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