The telecom application programming interface (API) market is expected to grow from USD 93.69 billion in 2016 to USD 231.86 billion by 2021, at a CAGR of 19.87 percent, estimates Zion Research. The global telecom API market is expected to witness significant growth over the next 5 years on account of widespread use of telecom API in various application sectors. The major driving factor for the global telecom API market is increasing adoption of smart phone coupled with advanced technology. Growing telecom infrastructure, such as website or mobile app or video conferencing, is to drive the telecom API market rapidly. Moreover, developing web-RTC technology is expected to propel the market growth in the years to come. However, insecure APIs may pose the challenge to telecom API market. Furthermore, increasing use of machine-to-machine devices is expected to open up new opportunities in the coming years.
Enterprise developer, internal telecom developer, long tail developer, and partner developer are the key users included in the telecom API market. The enterprise developer dominated the telecom API market and it accounted for almost 30.5 percent share of the total market in 2016. This was mainly due to strong revenue generation offered by enterprise developers while integrating telecom API. Long tail developer is expected to experience robust growth during the forecast period. Partner developer is another key outlet for telecom API.
By geography, North America was the largest market of telecom API in the world due to the wide adoption of smart phone and advancement in technology. In terms of revenue, North America accounted for over
34 percent share of total telecom API market in 2016. Moreover, telecom API market has huge opportunity in the emerging markets of Asia-Pacific due to increasing demand for payment API services in this region.