With the increasing proliferation of mobile internet through smartphones and other mobile devices, the demand for mobile applications is on a continual rise. Thus, application developers are focused on providing enhanced customer experience and to increase advocacy of their application among telecom end users. The role of telecom API ((application programming interface) lies in helping application developers integrate the various API services such as voice, payment, WebRTC, and SMS.
Browse the full Global Telecom API Market Report: http://www.mrrse.com/telecom-api-market
Evolution of Telecommunication Favors Telecom API for Enhanced Customer Experience
The use of telecom API holds substantial promise for telecom carriers. With the utilization of telecom API, the increment in the number of applications available in the application stores of telecom carriers helps add new customers and retain existing customers. In this pursuit, telecom carriers are making investments to set up their own API platforms in association with service providers and aggregators. This paves the way for telecom carriers to form a larger developer base and develop new applications for their customers.
For telecom carriers, employing telecom API has pay-offs in terms of revenue generation and enhanced end user experience, which is one of the major reasons for the telecom API market to rise at a phenomenal 23.60% CAGR from 2015 to 2022. Thus, the market, which had a valuation of US$54.8 bn in 2014, will reach a market size of US$323.4 bn by 2022.
In telecommunication services, with the rollout of 3G and 4G mobile networks, the basic voice and text messaging capability of cellular phones has transformed into accessing high-definition HTML pages, music, and videos through these devices.
The popularity of 4G LTE (long term evolution), which is the convention used for 4G networks, earmarked with a set of standards for speed and connection, is attributed to its speed, which is often close to a home broadband connection. This is boosting the traffic in mobile internet, which in turn is benefitting RCS, maps and location, and WebRTC API services.
Despite this, telecom carriers face a stiff challenge from over-the-top (OTT) service providers, which cut into the revenue and thus profit margins of telecom operators. Thus, the use of telecom API aids telecom carriers in overcoming this challenge in order to improve their market share and generate more revenue.
Telecom API Market – a Glance
The market for telecom API is divided on the basis of service type into payment, voice/speech, MMS and RCS, WebRTC, SMS, maps and location, identity management, and others. In 2014, the voice API services segment held the majority share in the global market for telecom API. The increasing use of voice API by enterprise developers for enhanced voice applications is attributed to the large market share of this segment.
Browse the full Press Release of Global Telecom API Market: http://www.mrrse.com/telecom-api-industry
However, the WebRTC service segment is expected to be the fastest growing segment in the near future, due to the low calling cost offered through WebRTC over traditional voice services. Other than these, the service segments for MMS, SMS, and payment API will gain importance in the coming years, especially in the developing countries of Asia Pacific, the Middle East, and Africa. The payment API service segment will steadily gain a larger share in the coming years due to the increasing amount of money transactions using mobile devices. The maps and location API service segment is expected to witness increased adoption in North America and Europe.