Asia-pacific Telecom Api Software Market 2022-2028
MARKET OUTLOOK
Triton’s research report on the Asia-Pacific telecom API market signifies that the market is anticipated to progress at a compound annual growth rate of 16.65% during the forecasting years 2022-2028. ASEAN countries, Japan, China, South Korea, India, Australia & New Zealand, and Rest of APAC outline the market in the region.
India is among the fastest-growing digitizing countries, owing to the rise in internet users. The rise in mobile internet users has surged the data consumption rate, leading to the emergence of start-ups in the digital transformation space. Besides, the growth in the telecom industry is another factor widening the scope of API. As per experts, India registered around 749 million internet population in 2020, expected to reach more than 1.5 billion by 2040. Therefore, the robust growth of internet users is expected to boost the telecom API market on a progressive path over the upcoming years.
In South Korea, the growth of the IT and telecommunication industry, a surge in the use of open APIs, product developments, and technological advancements are key factors fueling the telecom API market’s growth. The total number of open application programming interface surged significantly from 1.5 billion in 2019 to 3.6 billion in 2021, according to experts. Hence, all these developments are anticipated to create numerous opportunities for the telecom API market across South Korea over the forecast period.
COMPETITIVE OUTLOOK
The notable companies in the telecom API market include Twilio Inc, Orange SA, Nexmo Inc, Google LLC, and Vodafone Group Plc.
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