Omdia: Predicts global telecom network API revenue to reach US$9 billion in 2029
1min read Omdia's latest research predicts that revenue from telecom network APIs will surge, with global revenue expected to grow from US$161 million in 2023 to US$8.7 billion in 2029, driven by user authentication APIs. Network APIs have been a hot topic in the telecom industry as operators seek to differentiate their connectivity services.
Notably, number verification and SIM card swap APIs will lead the growth, reducing fraud and ensuring the security of digital transactions. Number verification APIs offer a faster and more secure alternative to traditional SMS verification. The SIM swap API has been applied in the banking industry, and its revenue will grow rapidly from US$33 million in 2023 to US$700 million in 2029.
Adam Mackenzie, senior analyst of Omdia's operator strategy, said: "Network APIs not only bring direct new revenue but also more revenue through connectivity and new enabled services. Telecom operators have taken an inclusive approach as they recognize that every party in the ecosystem adds to the business case: hyperscale operators, aggregators, device vendors, and telcos are working together to improve security, app quality, and customer experience."
"We expect user authentication APIs to account for most of the revenue. SIM swap and number verification have been applied in some large banks and have provided obvious value to enterprises."
The forecast includes in-depth qualitative analysis and a quantitative segmentation of five network API categories, including 17 network APIs, 11 specific API predictions, and four regions.
