API Set to Redefine Telecom Sector as Telecom 2.0 Gets Closer to Reality
The telecom sector has played an imperative role in the development of human society and has consistently remained the main driver for global digital transformation. Over the past couple of decades, technological advancements and implementation of new software infrastructure have played a pivotal role in the development of the telecommunication sector around the world. The telecom sector is expected to provide a makeover to enterprise systems and an array of B2C channels and transform them into agile and modern platforms. The tectonic shift toward digital technologies is likely to have a strong impact on the future of the telecom sector. The integration of streamlined messaging and voice is the major factor that is likely to reshape the telecom industry during the forecast period.
The advent of the application programming interface into the telecom space is expected to set the tone for how developers as well as consumers interact with a system. User-friendly API is set to make a solid impression across the telecom sector and set the wheels rolling for Telecom 2.0. Over the past few years, a large number of telecommunication companies have gradually drifted from being carriers and are increasingly becoming more visible across the value chain. The proliferation of cloud technologies and mobile Internet coupled with increasing access to the 4G LTE network is projected to provide a significant boost to the overall growth of the global telecom API market. At the back of these factors, the global telecom API market is expected to attain a market value of ~US$ 1 Trn by the end of 2030.
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Identity APIs Likely to Address Digital Identity Management
Over the past decade, APIs have played an essential role in the development of mobile applications and the modern web due to constant pressure to launch applications into the market. The adoption of third party APIs is primarily driven by C level digital transformation initiatives and growing requirements to find the right expertise, owing to complex requirements of applications. At present, some of the leading companies involved in the telecom API market are utilizing their spare resources to develop some pre-existing and common functionalities from scratch.
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The adoption of API is on the rise across the telecom sector, as it provides access to niche and advanced functionalities to companies of all sizes. In addition, as payment, identity, and communications are core requirements of customer-facing applications, the demand for telecom API is on the rise. At present, data management and protection of the identity data of thousands of customers that engage with the different applications is highly crucial to prevent bad press, data breaches, and GDPR fines. Some of the key areas wherein telecom API developers are currently seeking improvements include multi-factor authentication, single-sign-on (SSO), dynamic utilization of strong identities, usage of social identity, setup and contextual authentication, identity storage data, and mobile identity support, among others.
Market Players Increasingly Focus on API Development to Enable Integration of Services
Over the past few years, the telecom sector has experienced a tectonic shift from the hardware space to the software space primarily driven by API. Cloud communication platforms are at the vanguard of the telecom API providing SMS, video, chat, voice, etc. Recent trends suggest strong demand for mobile top-up API and a range of other telecom APIs– a factor that is expected to propel the growth of the telecom API market during the assessment period. Several companies in the current telecom API market landscape are focusing on the development of API to enable the integration of their services within programs and applications of developers. For instance, Twilio, provides an API in which its own cloud network can be integrated into the developer’s applications. Moreover, another participant involved in the telecom API market, Aepona, provides an API foundation platform, that is largely used to implement, create, and monetize APIs. While identity API is expected to garner considerable popularity, maps and location API is expected to remain the most popular service type.
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Adoption of API Likely to Streamline COVID-19 Tracking
As the COVID-19 pandemic continues to stall the progress of several industrial sectors across the world, several companies that are active in the current telecom API market are focusing on the development of new concepts of API to provide an impetus to the delivery of COVID-19 tracking technologies. For instance, Apple and Google have announced that tech giants have come together to roll out the initial version of an API to the developers– a step that is likely to pave the way for COVID-19 tracking technologies. The two tech giants announced that the collaboration is aimed toward creating a solution that is expected to enable transmission of data to track COVID-19 cases and contact tracing. While the telecom API market is likely to enter an indefinite period of uncertainty, market players are projected to provide solutions that are likely to assist in the detection and tracking of active COVID-19 cases.
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Telecom API Market: Overview
- The global telecom API market is expected to reach ~US$ 1 Trn by 2030 from ~US$ 250 Bn in 2020, expanding at a CAGR of ~19% from 2020 to 2030
- The global telecom API market is currently driven by increasing adoption of mobile Internet and cloud computing among end users. The telecom API market in Asia Pacific is projected to expand at a high CAGR during the forecast period. Adoption of smartphones and new technologies has propelled the demand for telecom API in the region.
- China is the most attractive market in Asia Pacific. The incremental opportunity is significantly higher for China, as it accounts for a dominant share of the telecom API market in the region.
- The telecom API market report provides analysis of the global telecom API market for the period 2018 – 2030, wherein 2019 is the base year, 2020 is the estimated year, and 2021 to 2030 is the forecast period. Data for 2018 has been included as historical information.
- The telecom API market represents the overall Application Programming Interface (API) services provided by telecom carriers, service providers, and aggregators to application developers in order to create mobile applications
- In this report, we analyze the challenges end users face in acquiring the right telecom API that can cope with the rapidly changing world. The report also highlights the total revenue generated through the sale of telecom APIs across various key regions worldwide.
North America Telecom API Market: Snapshot
- The telecom API market in North America is anticipated to expand at a rapid pace during the forecast period, followed by Europe. North America remains the leading market for telecom APIs, with revenues in 2020 estimated at US$ 86.79 Bn.
- Strong presence of telecom API vendors, along with high spending in R&D in North America is a crucial factor driving the market. New enhancements related to telecom API are primarily introduced in the U.S. and then marketed around the world. According to GSMA Intelligence, the penetration of 5G connections in North America is expected to reach 48% of the total connections by the end of 2025. 5G enables high-speed Internet bandwidth connectivity to end users. Thus, the telecom API market is expected to grow significantly during the forecast period in the region.
Key Growth Drivers of Telecom API Market
- Proliferation of Mobile Internet and Cloud Technologies – Increasing adoption of mobile Internet and cloud computing is expected to boost the use of mobile applications in the coming years. Voice over Internet Protocol (VoIP) and mobile video streaming are projected to contribute majority of mobile data traffic. The adoption of cloud technology in mobile applications is helping telecom carriers to provide WebRTC and voice API to application developers. This is likely to increase the adoption of telecom API in mobile application development.
- Advent of 5G Technology – Internet has revolutionized the world. The advent of 5G technologies is expected to boost the telecom API market during the forecast period. According to GSMA, 5G connections are expected to reach 1.8 billion by 2025. As per TMR analysis, at present, mobile 5G is available from 46 operators in 24 markets across the globe. Additionally, around 79 global operators are planning to launch 5G mobile services during the forecast. Thus, the increasing adoption of mobile Internet and cloud computing is expected to boost the use of mobile applications in the coming years.
IT & Telecom
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