API is an application programming interface and also an important element for today’s business processes. API acts as middleware software which forms interface among resources and applications in the device. Now, the global telecom API platform market is foreseen to exceed more than US$ 490 bn by 2024 at a CAGR of 23.5% between 2018 and 2024.
Market Search Engine in its latest report, explores fundamental role for service provider which fit their telecom infrastructure and data in commercial business.
Telecom API platforms allows its operator to set up its own API represent its service to all large external developers. Fast expansion in the mobile application market will produced requirement for telecom APIs.
The major driving factors of telecom API platform market are as follows:
- Competition among MNOs which drive the adoption of new revenue streams
- Growing digitization in MNOs push them to accept API platform
The restraints factors of telecom API platform market are as follows:
- Minimum adoption of telecom API platform between medium and small operators