Telecom API Industry Overview
The global telecom API market size is anticipated to reach USD 827.45 billion by 2030, expanding at a CAGR of 20.6% from 2022 to 2030, according to a study conducted by Grand View Research, Inc. Growing demand for smartphones integrated with features such as 5G, digital wallets, GPS services, and near-field communication (NFC), among others, is projected to drive the market growth over the forecast period. API facilitates web-based solution developers to develop applications through a single point of contact utilizing the capabilities offered by the API platform for agile application development.
Telecom API Market Segmentation
Grand View Research has segmented the global telecom API market based on type, end user, and region:
Based on the Type Insights, the market is segmented into Messaging API, WebRTC API, Payment API, IVR API, Location API, and Others.
- In 2021, the messaging API sub-segment held the largest market share contributing more than 33% to the total market and is projected to grow at a CAGR of over 21.6% from 2022 to 2030. The high growth of messaging APIs is owing to the growing demand for SMS and RCS services that have the application of messaging APIs.
- The IVR API sub-segment of the telecom API market is expected to witness significant growth over the forecast period. This growth in the market can be attributed to the increasing number of BPO service providers, specifically in developing markets such as South Africa, China, and India.
- Furthermore, the location API sub-segment held a considerable revenue share exceeding 12% in 2021 owing to increasing demand for location-based web-application services.
Based on the End-user Insights, the market is segmented into Enterprise Developers, Internal Telecom Developers, Partner Developers, and Long Tail Developers.
- The enterprise developer sub-segment holds the largest market share of over 35% owing to the high penetration and adoption rate of large-scale enterprises. In large-scale organizations, A2P messages are majorly used in the announcement of offers, promotional activities, and changes in company policies, among others.
- The partner developer sub-segment of the telecom API market is projected to grow at a CAGR of over 22% over the forecast period. Partner APIs help in creating a single-point data sharing platform between CSPs and other developers to develop services such as payment services, and streaming services, among others.
Telecom API Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Companies Profile & Market Share Insights
The market is fragmented and characterized by high competition among the key players operating in a particular region. Each region or country is dominated by a few prominent players that mostly includes the CSPs of that particular region
Some prominent players in the global telecom API market include
- AT&T, Inc.
- Google LLC
- Verizon Communication, Inc.
- Telefonica S.A.
- Twilio Inc.
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