Blockchain In Telecom Market, By Offering, (Platform, Services, Technology Advisory and Consulting, Deployment and Integration, Support, and Maintenance), By Type (Public Blockchain, Consortium or Hybrid Blockchain, Private or Permission Blockchain), By Provider (Infrastructure and Protocol Providers, Communication Solution, Cloud Storage Solution, Processing Solution, Security Protocol Solution, Middleware Providers, Blockchain API, Encryption Solution, Other Software Glue, Application, and Solution Providers, Financial Application, Non-financial Application), By Application, (Streamlining OSS and BSS Processes, Smart Contract, Identity and Fraud Management, Payment and Billing, Secure Connectivity, Other Applications), By Organization Size, (Large Enterprises, Small and Medium Enterprises) By Region – Global Analysis Forecast Till 2030

Global Blockchain in Telecom Market is poised to reach $17.12 billion by 2030, growing by 63.20% annually over 2020-2030.

Blockchain is a set of distributed ledger technologies used to record and maintain a complete record of transactions between two or more users. As a technology, blockchain has been adopted by almost every industry because of its potential to disrupt or change business models. It's a great answer to the telecom sector's most important need to keep historical user records immutable. It allows organizations to manage various aspects of user accounts.

Some applications of blockchain technology in the telecommunications industry are the automation of many internal tasks such as billing systems, roaming, and supply chain management. A blockchain is a shared record that is replicated through stakeholders in the network. Blockchain also helps keep a complete record of transactions between two or more groups or parties. Simply put, a blockchain is an immutable record that other stakeholders can verify. Transaction records on the blockchain are irreversible, and other public or private networks may be regulated according to the user company's requirements.

Market Dynamics:

Drivers:

The growth of blockchain in telecom market is the increasing demand for transparency, immutability, and high security. Blockchain technology has become a game changer in many industries, such as telecommunications, due to its decentralized nature that provides a better customer experience by eliminating intermediaries or third parties. Blockchain is gaining immense popularity in the telecom industry and is projected to witness significant growth rates during the forecast period. This high market growth can be attributed to several factors, such as increasing use cases for authentication purposes, streamlining business processes, and increasing mobile payment transactions through peer-to-peer (P2P) payments. Investments from various sectors, including telecommunications companies from all regions of the world.

Restraints:

The major restraining factors for the growth of the Blockchain in  Telecom Market include increasing concerns regarding user authenticity and uncertain regulatory status, and lack of common standards. Many businesses believe that identity theft done by criminals can help them gain access to their account details, and that blockchain cannot prevent them. Additionally, restrictions by government agencies and a lack of common standards on the adoption of blockchain technology may hamper the growth of the blockchain in telecom market.  

Key players:

• Amazon Web Services

• Blockchain Foundry Inc.

• Blockstream

• Huawei Technologies Co., Ltd.

• IBM Corporation

• Microsoft Corporation

• Oracle Corporation

• SAP SE

• ShoCard Inc. (Ping Identity)

• Tbcasoft

Market Segmentation:

Blockchain In Telecom Market, By Offering,

• Platform

• Services

• Technology Advisory and Consulting

• Deployment and Integration

• Support and Maintenance

Blockchain In Telecom Market, By Type,

• Public Blockchain

• Consortium or Hybrid Blockchain

• Private or Permission Blockchain

Blockchain In Telecom Market, By Provider,

• Infrastructure and Protocol Providers

• Communication Solution

• Cloud Storage Solution

• Processing Solution

• Security Protocol Solution

• Middleware Providers

• Blockchain API

• Encryption Solution

• Other Software Glue

• Application and Solution Providers

• Financial Application

• Non-financial Application

Blockchain In Telecom Market, By Application,

• Streamlining OSS and BSS Processes

• Smart Contract

• Identity and Fraud Management

• Payment and Billing

• Secure Connectivity

• Other Applications

Blockchain In Telecom Market, By Organization Size,

• Large Enterprises

• Small and Medium Enterprises (SMEs)

Blockchain In Telecom Market, By Region

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Russia

  • Italy

  • Spain

  • Nordic

  • Rest of Europe

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • Rest of Asia Pacific

• Middle East & Africa (MEA)

  • UAE

  • Saudi Arabia

  • South Africa

  • Rest of Middle East & Africa

• South America

  • Brazil

  • Rest of South America

Regional Analysis:

Asia Pacific to Witness the Highest Growth

The region boasts enormous potential for the blockchain in telecom market, mainly due to the growing importance of mobile payments in countries such as India and China. India has seen many telecom operators transition to this model, especially after the monetization phase-out plan.

For example, Jio and Airtel, two of the country's leading telecommunications companies, offer digital wallets that enable customer-to-customer payments. Therefore, adopting blockchain to process transactions for these companies could make their wallets safer and cheaper.

China Mobile, China Telecom, and China Unicom have joined CAICT's Trusted Blockchain initiative. They use blockchain to enhance operations and security in the industry. The two companies are expected to focus on blockchain-based apps related to IoT data sharing and customer identity verification.

Additionally, as the world is now embroiled in the privacy debate over WhatsApp's policy change, India's CPaaS (Communication Platform as a Service) industry is gearing up for the adoption of end-to-end encryption of commercial mobile SMS, email, and all other encryption. A type of business communication between a business and a service provider.

Scope Of the Report: 

User

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