Blockchain in Telecom Market

Global Blockchain in Telecom Market Size (2024 to 2029)

The global blockchain in telecom market size is estimated at USD 0.20 billion in 2024 and USD 3.91 billion by 2029, growing at a CAGR of 81.34% during the forecast period.

MARKET DRIVERS

The market is growing mainly because of the significant presence and existence of various telecommunication operators who have skilfully adopted blockchain technology to reduce identity and fraud and improve the customer experience. Besides, the market is also receiving support as a result of increased venture capital funding, a significant increase in the number of start-ups entering the market, and the willingness of governments to regulate the blockchain.

MARKET RESTRAINTS

However, the main factors limiting blockchain growth in the telecommunications market are the growing concern about the authenticity of users, the uncertain status of regulations, and the lack of common standards. Besides, the restrictions imposed by government agencies on the adoption of blockchain technology and the lack of common standards may hinder market growth.

REPORT COVERAGE

REGIONAL ANALYSIS

North America dominates the global telecom blockchain market, followed by Asia Pacific, which is growing rapidly and registering some high growth rates during the forecast period.

KEY PLAYERS IN THE GLOBAL BLOCKCHAIN IN TELECOM MARKET

The major blockchain in telecom market vendors include AWS (US), Guardtime (Estonia), IBM (US), Microsoft (US), SAP (Germany), Bitfury (US), Cegeka (Netherlands), Clear (Singapore), Reply (Italy), ShoCard (US), Abra (US), Auxesis Group (India), Blockchain Foundry (Singapore), BlockCypher (US), Blocko (South Korea), Blockpoint (US), Blockstream (US), Chain (US), Filament (US), Huawei (China), Oracle (US), RecordsKeeper (Spain), Sofocle (India), SpinSys (US), and TBCASoft (US).

RECENT HAPPENINGS IN THE GLOBAL BLOCKCHAIN IN TELECOM MARKET

• In April 2018, SK Telecom, the largest telecommunications operator in South Korea, has announced it would provide services relating to asset management using blockchain technologies and create a platform for matching growing blockchain start-up companies and investors for the growth of technology and the associated sector.
• In August 2018, The Carrier Blockchain Study Group (CBSG) announced Axiata, PLDT, PT. Telin, Turkcell, Viettel, and the Zain Group have agreed to jointly explore and build a multi-operator global cross-carrier platform and ecosystem.
• In March 2017, The technology giant IBM has made a collaboration announcement with European banks to set up a platform for financial negotiations and trading based on blockchain technology.

Recently, the Ripple Foundation took over XRP (the best-performing crypto in 2017) and signed a contract with the largest banks to offer Ripple products. This will pave the way for the integration of cryptos in the banking sector. Binance, which has covered several countries to position itself as a global leader, has announced its intention to launch a beta version of its decentralized exchange (DEX) in early 2019. This, they say, is in anticipation of the development of portfolios of a guard that they feel are inevitable in the future. Custody portfolios will enable P2P commerce while continuing to deliver channel chain transactions. Meanwhile, heavyweights like IBM, Starbucks, and International Exchange (IEC) started accepting crypto payments on their platforms.

DETAILED SEGMENTATION OF THE GLOBAL BLOCKCHAIN IN TELECOM MARKET INCLUDED IN THIS REPORT

The global blockchain in telecom market research report is segmented and sub-segmented based on the provider, application, organization size, and region.

By Provider

• Application Providers
• Middleware Providers
• Infrastructure Providers

By Application

• OSS/BSS Processes
• Identity Management
• Connectivity Provisioning
• Payments
• Smart contracts

By Organization Size

• SMEs
• Large-scale enterprises

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa