Application Programming Interface (API) has found multiple applications in the telecommunications industry. Market Research Future (MRFR)’s report suggests that the global telecom API market is poised to mark 17.33% CAGR over the review period 2018 to 2023. It also unravels that the revenues earned by the market are anticipated to surpass USD 200 Bn by the end of the evaluation period. IT services have gained a quick mileage in the telecom industry. Thus, the developments of the IT services are projected to boost the demand for API in the telecom industry. This, in turn, is prognosticated to boost the growth rate of the telecom API market.The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
Regional Analysis:
The geographical analysis of [FURL=https://www.marketresearchfuture.com/reports/telecom-api-market-2349]Telecom API Covid 19 Market[/FURL] is covered in this MRFR report for four main regions, that are - North America, Europe, Asia Pacific, and the Rest of the World (RoW). These regions are also studied on the basis of country-level market for providing a comprehensive view. North America exhibits tremendous potential and is likely to hold a key position in the market place. The rising adoption of cloud-based services in the region is expected to drive the growth of the telecom API market. In addition, it is also supposed to benefit from the advancements being introduced in cloud technology. Overall, the market is poised to witness substantial growth in the years to come. In the near future, the commercialization of 5G technology is anticipated to boost the telecom API market. The U.S. is projected to invest massively in 5G commercialization, thus, supporting growth of the telecom API market in the region.
Competitive Dashboard:
Telefónica S.A. (Spain), Vodafone Group PLC (UK), AT&T Inc. (US), Nokia Corporation (Finland), Orange S.A. (France), Google (US), Verizon Communications Inc. (US), Fortumo (Estonia), Vonage (US), and LocationSmart (US) are some of the prominent players of the telecom API market. Other players that are likely to gain traction and contribute to market development are Cisco Systems (US) and Aspect Software, Inc. (US).
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