The latest report on the global telecom API industry from Market Research Engine argues the market is projected to see CAGR of over 19% in the period 2015–2022 and is slated to see valuation in excess of $5 billion (£3.4 billion) by 2022.
Drastic growth in the mobile applications market has ensured demand for telecom APIs and telecom companies own several APIs. The requirement for API management is on the rise as more telecom operators are going digital in addition to increasing competition with other OTT players.
Telecom API management platform providers offer management services for these APIs wherein a provider offers set-up services and monetisation. As a result, the API management platform market is expected to see a lot of growth as telecom operators choose management solutions.
The presence of several T1 players in developed countries has led growth in the API platform services market in these nations as these companies possess sufficient infrastructure to use APIs while undertaking substantial investments towards this goal. European nations play a major role in the demand for telecom API platforms across the globe on account of a rapid rise in demand from T1 players in this region.
You can find more about the report here.