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Telecom API Industry Overview
The global telecom API market size was valued at USD 162.27 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 20.6% from 2022 to 2030. Telecom API is used to operate web-based services such as banking, identity management, and cloud-based telecom software by compiling programming instructions and standard protocols. Telecom API provides cost-effective solutions by enhancing the system performance of existing web-based applications. These tools and communication protocols facilitate agility in mobile application developments as it allows the developers to focus on developing primary functions without a need to develop them from scratch. API has prominent applications in all the areas involving mobile applications and services such as voice & video calls, online mobile payments, messaging apps, and location tracking apps, among others. With the increasing number of mobile service subscribers, the demand for mobile-based technologies has grown significantly in past years further increasing the demand for telecom APIs due to the scalability it offers. For instance, as per the data published by GSMA, by the end of 2021, 5.2 billion people subscribed to mobile services, and it is projected to reach 5.7 billion people by 2025, thus, bringing new opportunities for telecom API in mobile-based applications. Gather more insights about the market drivers, restrains and growth of the Global Telecom API Market Growing penetration of the Internet of Things (IoT), device integration, and wearable devices in the telecom sector is expected to positively impact the market over the forecast period. Telecom APIs enable end-to-end IoT solutions as they act as a singular point of interaction between several nodes within a network and hence reducing the multiple third-party service providers for system integration. With growing IoT penetration, the market for telecom API is expected to grow at a phenomenal rate. For instance, according to The State of Mobile 2021 report, a research study published by the GSMA, the total number of global IoT connections is expected to reach 25.2 billion by 2025 supporting the market growth over the forecast period. The recent increasing number of start-ups launched in the field of telecom API in emerging markets such as the Asia Pacific and Africa are expected to open new opportunity areas for the telecom API service providers during the forecast year. Industry giants such as Google, Vodafone, and communications service providers (CSPs), and technology supplier groups have developed partnerships with start-ups from these emerging markets to create a nurturing ecosystem for the growth of telecom startups by offering their APIs for application developments thus, propelling the market growth. Despite the phenomenal benefits offered by telecom API, data security concerns amongst the end-users are hindering the market growth. For instance, based on a recently published report on data security, it is observed that for enterprise and commercial web applications, API attacks will become the most-frequent attack resulting in data breaches, wherein malicious parties will get access to end-user data such as the name, contact details, and IMEI number of the device on which the application is operating. The increasing adoption of machine-to-machine (M2M) devices is also estimated to propel the telecom application programming interface (API) market from 2022 to 2030. APIs are critical for M2M communication as they identify the message format that can be used for device control. Moreover, increasing adoption of mobile commerce is expected to increase the demand for telecom APIs in applications such as payment API and location API. Various mobile payment gateways such as Stripe, Zooz, PayPal, and Amazon Pay, among others allow the user to purchase products through cards using the payment API for processing the transactions. In 2020, due to the COVID-19 crisis, many leading CSPs and technology provider companies operating in the telecom API market had to change their strategies owing to the increasing demand for connectivity. Large organizations adopted new growth strategies to expand in new markets and change business models in the functions such as security, sales, and support. The market witnessed unprecedented growth in smartphone data usage, thus, impacting the market positively. Browse through Grand View Research's Communication Services Industry Research Reports.
Telecom API Market Segmentation Grand View Research has segmented the global telecom API market report based on type, end user, and region:
Market Share Insights
Key Companies profiled: Some prominent players in the global telecom API market include:
Order a free sample PDF of the Telecom API Market Intelligence Study, published by Grand View Research.
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Contact Center As A Service Industry Overview The global contact center as a service market size was valued at USD 3.91 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 18.4% from 2022 to 2030. The market growth can be attributed to the rising adoption of advanced contact center technologies to maintain better business continuity and streamline customer interactions to provide higher customer satisfaction. Moreover, the incorporation of Artificial Intelligence (AI) and Machine Learning (ML) technologies in contact center solutions is expected to create more demand for the contact center as a service (CCaaS) market over the forecast period. Gather more insights about the market drivers, restrains and growth of the Global Contact Center As A Service Market Numerous players are developing cloud contact centers to enhance operational functionality and flexibility for users. For instance, in April 2020, ServiceNow announced the launch of the Amazon Connect Integration with Cloud Call Center, a cloud contact center solution that offers employees better IT support functionalities. Amazon Connect Integration with Cloud Call Center provides native integration with AWS’s natural language AI technology, Comprehend and Transcribe, Lex with ServiceNow.’s IT workflow, and the service capabilities. Various companies are also focusing on providing artificial intelligence-based cloud contact center solutions to increase accuracy and meet the changing customer needs. For instance, in October 2021, Automation Anywhere, Inc., an automation technology provider, announced the launch of the Automation Anywhere for Contact Centers, an AI-driven, cloud-native solution that facilitates businesses to provide faster customer services. Automation Anywhere for Contact Centers enables agents to be more efficient in finding, and updating the information as well as executing the client transactions quickly to deliver faster services. Organizations that do not provide timely responses to customer emails experience potential loss of customers. Hence, it has become essential for organizations to deliver a better customer experience across all channels. Improved customer experience provides better support to the entire customer journey, from the first point of contact to becoming a loyal customer. Customer experience is an integral part of Customer Relationship Management (CRM) and is important because the customer who has a positive experience with the business is more likely to become a loyal customer. Organizations can save maintenance service charges and hardware installation expenses by implementing the contact center as a service solution. Additionally, cloud-based contact center software does not incur any IT services and components expenditure. Cloud-based services also help decrease downtime and reduce power consumption. Furthermore, they can be offered in a subscription model, allowing companies to select the model according to their requirements, leading to cost savings. Companies with limited funds adopt cloud-based contact centers, thus boosting the adoption of these systems in small and medium enterprises. However, as contact centers store critical customer information such as payment card numbers and health information, increasing data security concerns are expected to hinder the market growth. Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
Contact Center As A Service Market Segmentation Grand View Research has segmented the global contact center as a service market based on solution, service, enterprise size, end-use, and region:
Market Share Insights
Key Companies profiled: Some prominent players in the global contact center as a service market include:
Order a free sample PDF of the Contact Center As A Service Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected] Web: https://www.grandviewresearch.com Follow Us: LinkedIn | Twitter Leak Detection And Repair Industry Overview
The global leak detection and repair market size was valued at USD 19.01 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2022 to 2030. The market growth can be attributed to the increasing demand for leak detection and repair (LDAR) systems among utility companies worldwide due to their benefits, such as safety improvement, cost-saving, and environmental protection. LDAR systems also help oil and gas and petroleum companies make workplaces healthier by decreasing the risk of accidents caused due to explosions and fire outbreaks. Increasing developments in natural gas and petroleum infrastructure worldwide are also expected to drive market growth. Gather more insights about the market drivers, restrains and growth of the Global Leak Detection And Repair Market Many gas emission monitoring companies use machine learning and Artificial Intelligence(AI) to detect leaks in their infrastructure more efficiently. A machine learning algorithm identifies leaks and emission risks on the ground using satellite imagery. The data obtained from machine learning allows operators to identify trends and patterns over time, thereby helping them make data-driven decisions. As a result, various oil & gas companies are trying to replace their traditional LDAR systems with technologically enhanced LDAR systems. Various venture capital funding companies are investing in companies focused on providing AI-based LDAR solutions, creating new opportunities for market growth. For instance, in November 2021, SCF Ventures, a venture capital firm focused on providing capital to companies operating in the energy services sector, announced its investment in Qube Technologies, a continuous emission monitoring technology provider. Qube Technologies’ continuous emission monitoring technology enables oil and gas operators to better detect, reduce, and measure methane emissions. The investment would help Qube Technologies accelerate its deployment of continuous monitoring systems and further enable industries to reduce emissions. However, the increasing focus of governments on the development of renewable energy generation projects is expected to hinder market growth over the forecast period. For instance, in March 2021, the U.K. government announced that it was investing about USD 105.7 million in next-generation green technologies. This funding is part of the government’s USD 1.17 billion Net Zero Innovation Portfolio. In addition, the government also launched three new innovative challenges across areas of the green energy sector, such as floating offshore wind energy, biomass production, and energy storage technology. Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
Leak Detection And Repair Market Segmentation Grand View Research has segmented the global leak detection and repair market report based on component, product, technology, and region:
Market Share Insights
Key Companies profiled: Some of the prominent players in the global leak detection and repair market include:
Order a free sample PDF of the Leak Detection And Repair Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. |
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