The global telecom API market which was valued at USD 170 billion in the year 2020 is expected to see a sharp rise in coming times. As per a research report published by researchandmarkets.com, one of the world’s largest market research stores, the global telecom API market is expected to become USD 435 billion by 2026. The eminent research firm states that the sector will grow at a CAGR of over 16% during the forecasted period.

In Europe, Germany is expected to grow at a CAGR of approximately 14.9%, while the rest of the European market is estimated to reach USD 65.8 billion by the end of the analysis period. The market share of telecom API in the USA was USD 64.7 billion in 2021. America accounts for almost 31.33% of the share in the global market.

Key Drivers
● Growing role of WebRTC Augurs Well
● SMS, MMS,  & RCS APIs Steer Overall Growth
● Sharp rise in the demand of voice APIs
● Expanding mobile internet user base & consumption bodes well
● Growing uptake of e-commerce enhances opportunities
● Increased relevance of IVR improves the prospects for IVR API
● Location-based applications elevate the demand for location API

An API which is also called ‘Application Programming Interface’ is a set of instructions that enable smooth communications between two applications or software. Increased adoption of telecom and IT services have augmented the usage of telecom APIs. They are a medium to access telecom services and data for a variety of communication-enabled applications.