The global market for telecom API is expected to progress at an extremely positive CAGR of 23.6% within a forecast period from 2015 to 2022. By the end of 2016, its revenue is expected to reach US$97.06 bn and US$323.44 bn by the end of 2022.
The highly fragmented market of telecom API holds a staggering number of service providers and aggregators that are already offering their APIs to various telecom carriers. Alcatel Lucent, Apigee Corp., and Fortumo OU were the leading providers of telecom API from a global perspective in 2014. Telecom carriers have partnered with them and other prominent players in the past to launch APIs in the market.
Cloud computing technologies have been improving at an astronomical rate over the past few years and are not showing any signs of slowing down any time soon. Combining the vast array of cloud platforms with the growing use of mobile internet can therefore create the perfect reason for telecom API services to prosper in the coming years.
A massive number of new and upcoming apps are going to be cloud-based and the use of telecom API can provide a more efficient method of managing all the data transfer.
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Additionally, telecom API can allow developers to significantly improve their services for their customers. Depending on what API has been chosen, telecom carriers are able to offer better bandwidth for internet data for specific applications. Similarly, a developer that uses telecom API for creating a video streaming application can enter an agreement for storing videos on telecom-owned clouds. Such practices drastically improve time to market and quality of service.