A new report from Market Research Engine predicts that the global API market will grow on average by more than 23%, reaching $ 184 billion in 2021.
According to researchers, the main factors of API telecommunications market development is based on the need to create new revenue streams, achieve better competitive positions, monetization, the development of new business model network, as well as involvement in "mobile app revolution" trend. The report emphasizes that the issues of scalability and loading power, are still the main factors constraining the API market.
The report notes that over the past few years, communication service providers (CSP) continue to offer a variety of content services for its customers. At the same time, suppliers gradually began to lose their position with the advent of the global application developers such as Apple, Google, Amazon, and others who have made great changes in the application market, offering a variety of content services for its customers. This situation is forcing communications service providers to use API network to retain their current customers and attract new ones.
The use of API interfaces provide network "providers" with the opportunities to expand their own software line and services, improve work efficiency, explore new business models, improve the commercial offers for its partners and accelerate internal projects. Additional benefits using API-interfaces also include: voice message technologies, as well as a global billing and security mechanism.
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