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Singapore Telecom Api Market Forecast 2022-2028

KEY FINDINGS

The Singapore telecom API market growth is set to record a CAGR of 17.36% during the forecast period, 2022-2028. The growing telecom industry, product launches, and technological developments drive the market growth in Singapore.

MARKET INSIGHTS

In Singapore, several market players are incorporating API to open platforms to supplement businesses in varied sectors while adding revenue sources. For instance, DBS launched a banking API developer platform, DBS Developers, in 2018. In addition, the government announced its plans to launch a centralized API exchange for convenient and secure inter-agency data sharing.

Further, the country is becoming a choice destination for organizations looking to extend their big data operations in Asia. Additionally, the government is directing its efforts toward big data for managing and countering the proceedings. Besides, Singapore is a leading country in Southeast Asia's big data hub. It hosts high-impact projects like Facebook's data center and Alibaba's first joint research institute outside China.

Furthermore, the data analytics industry is vital to the country's economy. The other growth drivers include the rising population, the growing adoption of smartphone services, and communication services. Besides, the regulatory authorities are playing an important role in the adoption of the 5G network. Such aspects propel market demands in Singapore.

COMPETITIVE INSIGHTS

SingTel, vCloudx Pte. Ltd. (EnableX.io), Vodafone Group Plc, StarHub, etc., are among the key firms in the market.

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Singapore Telecom Api Market Forecast 2022-2028
Published By :Inkwood Research
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