Over the past few years communication service providers offered different content services to its customers. But, due to the emergence of application developers such as apple, Google, Amazon and more the communication service providers are losing the support of its customers. These application developers took advantage of APIs to offer various content services to its customers. API comprises of tools and procedures required to develop software and applications. API acts as an interconnection enabling the companies to deliver services through telecommunication providers.
“Global Telecom Network API Market” is envisioned to grow at CAGR of more than 23% and it is expected to cross US$ 420.0 Billion by 2025.
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As a result, the communication service providers are adopting Network APIs to retain its current customers and gain new customers. The flexibility of API permits Communications Service Provider (CSP) to offer customized experiences enabling to explore growth opportunities. The Network APIs enables the CSPs to integrate the services such as Messaging, Payment, Location Based Services (LBS), Telephony, Web Real-Time Communications (WebRTC), Subscriber Data Management (SDM), Internet-of-Things (IoT) and Machine-to-Machine (M2M), Interactive Voice Response (IVR), Content Delivery, Unified Communication, Unstructured Supplementary Service Data (USSD), and others into programs and mobile applications. The CSP offer these services based on two business models. In the first model the application developer pays for the application or services and API usage. In the second business model the CSPs offer free API to application developers and the user accessing the applications through API pays to CSPs and developer receives the revenue share from the telecom operators.
The use of Network APIs provides enormous opportunities to communication services providers to extend its products and services, increase operational efficiency, explore new business models, improve partner opportunities, decrease the business friction, maximize business development, and speed up internal projects. The other advantages which CSPs have over application developers include providing universal connectivity in the form of voice and messaging, global billing mechanism, and security.
The Telecom Network API market is driven by factors including need of new revenue streams to overplay competition, monetization and evolution of new network business models, and powering mobile app revolution.
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The major restraining factors for telecom API market comprises of security risks, scalability issues, and load capacity.
The Telecom Network API market is segmented as below:
Middle East & Africa