Telco And Network Api Spending To Hit $6.7 Billion By 2028 - IDC
telecoms, Monday, June 3rd, 2024
New figures from IDC forecast healthy growth for telco API revenues, but it's unclear how much of the value can be captured by CSPs.
The research firm predicts that global spending on telecoms and network APIs will reach $6.7 billion in 2028, compared to a modest $700 million in 2023. This makes for a compound annual growth rate (CAGR) of 57.1 percent over the forecast period.
Some readers might find that figure a little uninspiring considering how desperate telcos are to spin up new revenue generators. Indeed, the real action concerns the opportunities for innovative - and potentially lucrative - new services that APIs can enable.