Los Angeles, November 4, 2019 –QR Research recently published a report titled, “Global Telecom API Market Size, Status and Forecast 2019-2025”. The report highlights all the important factors affecting market dynamics. Researches have used primary and secondary methodologies to understand the market and its several aspects. They have presented a comprehensive collation of data to apprehend the global telecom API market. Furthermore, they have also provided the historic and forecast figures to give an overall analysis.
In 2018, the global telecom API market size was valued over US$13 bn and is expected to reach above US$46 bn by the end of 2025, rising at a CAGR of more than 19% during 2019-2025.
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Increasing Number of Mobile Services Will Contribute to Rising Demand for Telecom API
Over the years, the use of smartphones has increased significantly, boosting the demand for internet and cloud-based technologies, thus driving up the demand for mobile applications and services. These mobile applications and services have played a major role increasing the adoption of APIs. Telecom companies are expected to leverage networks and services by using API to develop applications. Modern banking and navigation offered by telecom services will make maximum usage of APIs for developing near-field communication (NFC), camera, digital wallet, and GPS applications.
In addition, telecom companies create platforms using API with their partnering companies to build a future. This enables partnering businesses opportunities to build services and add value to the services offered to the end user. Partnering companies may provide content services, online services, technology services, connectivity services, device integration, and business services. Through this the partner receives various advantages such as lesser time consumption, decreased cost, and optimum service quality. These facilities provides by telecom APIs are expected to help the burgeoning market.
Demand for Telecom API to Grow in Enterprises for Operational Efficiency
The global telecom API market is segmented into type and application. The type segment includes SMS, MMS, and RCS API, webRTC API, payment API, maps & location API, identity management API, voice API, and others. The application segment includes enterprise, government, and others. Enterprises are increasingly using telecom API in order to bring efficiency in their daily operations such as marketing, customer relations, and vendor marketing. Hence, enterprise segment is expected to hold the largest share in the market.
Increasing Use of Mobile Services and Application to Boost Market in North America
The report analyzes various regions in the global telecom API market including North America, Central and South America, Europe, Asia- Pacific, and others. In the global telecom API market, North America holds the dominant share due to its large population of mobile data users and ever rising demand for mobile applications. Furthermore, Asia Pacific is also expected to hold a lion’s share due to a substantial growth in its IT sector. This region is expected to have exponential number of subscribers due to improved connectivity and an ever-increasing population base, which will uplift its position in the market.
Market Players to Focus on Development of APIs Capable of Working across Multiple Carriers
AT&T Inc. is one of the largest shareholder in the global telecom API market. They recently completed a MEF’s LSO (Lifecycle Service Orchestration) Sonata APIs. This API is first of its kind as it allows seamless ordering of services across multiple carriers to business customers. This is a milestone as it will provide frictionless commerce across the global telecoms industry by cutting cycle times, minimizing handling errors, and removing manual steps to benefit both consumer and seller. The capabilities of this API will further give way to collaboration across the industry-based on MEF standards.
AT&T Inc. is aiming to combat competition and satisfy its customers by increasing its scope of collaboration and providing seamless ordering of services. The major manufacturer’s covers in the report are Verizon, AT&T, China Mobile, Deutsche Telekom AG, Softbank, China Telecom, Telefonica, Vodafone, America Movil, Orange, AU By KDDI, China Unicom, NTT DOCOMO, SK Telecom, Bharti Airtel Limited, and LG Uplus.
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