The telecom API market is expected to register a CAGR of over 23% during the forecast period. Rapid innovations in technology, along with the increasing penetration of cloud-based services across the telecom sector, are expected to drive the growth of the telecom API market.
– Telecom APIs allow carriers to capitalize on the existing network infrastructure and capabilities to develop a wide range of business opportunities for carriers, worldwide. Carriers have an enormous range of under-utilized assets that they can leverage to drive incremental revenues.
– A significant number of mobile network operators are already leveraging telecom APIs to support robocall detection and unwanted call management. Some of these processes and procedures may become a bridge toward the mediation of loT network authentication and authorization.
– loT represents a vast and mostly untapped market for CSPs to leverage 5G for loT apps and services entirely. More specifically, it allows carriers to act as an orchestrator/mediator within the loT ecosystem.
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– Furthermore, to fulfill 5G technology’s true potential, telecom carriers will be required to involve in significant investments, not only in procuring a new spectrum and radio but also in the network itself.
– For instance, in April 2020, Small Cell Forum (SCF) released 5G functional API to enable a 5G RAN/small cell vendor ecosystem. Capitalizing upon the scope of 5G physical layer API specification, the 5G technical API specifications allow small cells to be constructed piece-by-piece, using components from different vendors.
– At the time of COVID-19 pandemic across the world, the telecom API vendors have been developing solutions that can cope up with the situation for better accessibility. For instance, in April 2020, Vonage, a global business cloud communications provider, announced the launch of its free desktop and mobile video collaboration product, Vonage Video Conferencing (VVC). This video API solution experiences high demand, as the requirement for telehealth, remote work, and online education has been growing during the public health crisis.
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