Increasing Smartphone, 4G LTE Users to Propel Global Telecom API Market to US$323.44 bn by 2022: Transparency Market Research

The Global telecom API market is expected to grow a robust 24 percent annually for the next 7 years due to rapidly growing numbers of smartphone users switching to 4G LTE networks for mobile internet access.

ALBANY, New York, November 30, 2015 /PRNewswire/ The global telecom API market is displaying a robust 23.6% CAGR from 2015 to 2022. A research report released by Transparency Market Research, titled "Telecom API Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022", reveals that the global telecom API market, which was valued at US$54.80 bn in 2014, is expected to grow to US$323.44 bn by 2022.

According to the report, the global telecom API market is primarily driven by the rapidly growing number of users of smartphones that are switching to the 4G LTE network, along with an overall increase in the use of mobile Internet, which is creating an increase in the use of mobile applications. Consequently, the report shows the demand for the global telecom API market to be on the rise. 

The report also states that telecom API could even allow carriers to create more revenue in order to compete against over-the-top developers. Carriers in the global telecom API market can use this to grow their own adoption rates of additional services, including MMS, SMS, and voice calling. Geographically, the global telecom API market was dominated by North America in 2014, when the region held nearly 35.0% of the market. The report states that North America is one of the mature regions in the global telecom API market, mostly due to the extremely high rate of smartphone penetration and early adoption of 4G LTE. The region is also home to a substantially large community of API-related developers. 

The report also states that the Asia Pacific region is expected to be the fastest growing region in the global telecom API market in the given forecast period. The Asia Pacific telecom API market is expected to show a 25.4% CAGR from 2015 to 2022. This high growth rate is owed to the rapid adoption of 4G technology. Other drivers of the Asia Pacific telecom API market include the growing number of unique subscribers and the increasing use of M2M devices.

In terms of end users, the global telecom API market was dominated by the enterprise developer segment in 2014, when it held almost 34.0% of the market. The key reason for this, as stated in the report, is the high revenue generation offered by enterprise developers to the global telecom API market while integrating the necessary services from telecom API into the day-to-day functioning of telcos.

The expanding base of long tail developers is expected to help this segment expand at the fastest CAGR, of 25.9%, among all end users. Key players in the global telecom API market are LocationSmart, Apigee Corp., Twilio, Inc., Tropo, Inc., Alcatel Lucent, Fortumo OU, and Nexmo, Inc.  

  Source: PRNewswire