Global Telecom Api Software Market 2022-2028
MARKET OUTLOOK
According to Triton’s report, the global telecom API market is deemed to progress at a CAGR of 16.42% during the forecasting years 2022-2028.
Factors such as rapid innovations in technology and a surge in cloud-based technology adoption are fueling the studied market’s growth on a large scale. Besides, the growing IT sector in APAC, coupled with technological advancements, are creating new opportunities for the telecom API market globally.
On the contrary, the stringent government policies and security concerns due to rising API vulnerabilities are key factors impeding the global market’s growth.
REGIONAL OUTLOOK
The global telecom API market covers North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.
The Asia-Pacific region is expected to witness the fastest growth over the forecast period. This robust growth can be attributed to a surge in mobile internet users across the region. As per estimates, the number of internet users has grown tremendously in the region over the years, expected to reach around 2.7 billion by 2025. Furthermore, the total revenue earned by mobile operators is expected to grow significantly over the upcoming years. Therefore, such growth is anticipated to surge the demand and deployment of the application programming interface, contributing to the growth of the APAC telecom API market.
COMPETITIVE OUTLOOK
The prominent companies thriving in the telecom API market are Twilio Inc, Nexmo Inc, AT and T Inc, Nokia Corp, Fortumo OU, Huawei Technologies Co Ltd, LocationSmart, Orange SA, Alcatel Lucent Enterprise, Telefonica SA, Bharti Airtel Ltd, Verizon Communications Inc, Google LLC, Cisco Systems Inc, and Vodafone Group Plc.
Nokia Corp is a multinational information technology, telecommunications, and consumer electronics company. It is a public limited company providing services across numerous industries. The company mainly focuses on technology development, large-scale telecommunications infrastructure, and licensing. It serves consumers with easy-to-use technology-based products, offering quality and security. With operations across more than 130 countries globally, Nokia has headquarters in Finland.
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