Global Telecom API Strategic Business Report 2023: Internet Usage Patterns Widen the Opportunity for Telecom APIs

Dublin, June 21, 2023 (GLOBE NEWSWIRE) -- The ResearchAndMarkets.com platform now provides access to the "Telecom API: Global Strategic Business Report" for interested readers.

The Telecom API market, which was valued at approximately US$248 billion in 2022, is expected to grow at a compound annual growth rate (CAGR) of 15.2% during the forecast period 2022-2030. By 2030, it is anticipated to reach a market size of around US$771.5 billion.

In the report, a particular area called SMS, MMS & RCS has been examined. It is predicted that this area will experience a Compound Annual Growth Rate (CAGR) of 16.2% and will achieve a total worth of US$278.8 Billion by the conclusion of the analysis period.

Considering the continuous recovery after the pandemic, the IVR/Voice Store & Voice Control segment is expected to experience a modified compound annual growth rate (CAGR) of 14.8% over the next eight years.

The market value in the United States is approximated to be $77.2 billion, whereas it is expected that China will witness a compound annual growth rate (CAGR) of 18.4%.

The United States is expected to have a Telecom API market worth around $77.2 billion by 2022. China, the second largest economy globally, is predicted to have a market size of approximately $114.6 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 18.4% from 2022 to 2030.

Japan and Canada are also notable geographical markets that are expected to experience growth rates of 12.2% and 14.3% respectively between 2022 and 2030. In Europe, Germany is projected to grow at an approximate compound annual growth rate (CAGR) of 14.1%. The Asia-Pacific market, driven by countries like Australia, India, and South Korea, is anticipated to reach a value of US$90.5 Billion by 2030.

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The worldwide market for Telecom Application Programming Interface (API)