What is Blockchain in Telecom Market?
Blockchain is currently one of the most talked-about technologies. Across industries, organizations are exploring blockchain's potential impact in their space and how they can benefit from this emerging technology. The communications service provider (CSP) industry is no exception. The major driving factors in the market are increasing support for Operation Support System/Business Support System (OSS/BSS) processes, and rising security concerns among telcos. Blockchain in the telecom market is expected to grow in the future due to rising demand for the implementation of 5G.
Highlights from Blockchain in Telecom Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | AWS (United States), Guardtime (Estonia), IBM (United States), Microsoft (United States), SAP (Germany), Bitfury (United States), Cegeka (Netherlands), Clear (Singapore), Reply (Italy), ShoCard (United States), Abra (United States), Auxesis Group (India), Blockchain Foundry (Singapore), BlockCypher (United States), Blocko (South Korea), Blockpoint (United States), Blockstream (United States), Chain (United States), Filament (United States), Huawei (China) and Oracle (United States) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Blockchain in Telecom market throughout the forecasted period.
AWS (United States), Guardtime (Estonia), IBM (United States), Microsoft (United States), SAP (Germany), Bitfury (United States), Cegeka (Netherlands), Clear (Singapore), Reply (Italy), ShoCard (United States), Abra (United States), Auxesis Group (India), Blockchain Foundry (Singapore), BlockCypher (United States), Blocko (South Korea), Blockpoint (United States), Blockstream (United States), Chain (United States), Filament (United States), Huawei (China) and Oracle (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are RecordsKeeper (Spain), Sofocle (India), SpinSys (United States) and TBCASoft (United States). Blockchain in Telecom Market Segmentation:
Scope | Sub-Segments |
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Type | OSS/BSS Processes, Identity Management, Payments, Smart Contracts, Connectivity Provisioning and Others |
Organisation Size | Large Enterprises,SMEs |
Provider | Application Providers,Middleware Providers,Infrastructure Providers |
On the basis of geography, the market of Blockchain in Telecom has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Use of Blockchain Technology for the Implementation of 5G
Market Growth Drivers:
Increasing Support for OSS/BSS Processes and Rising Security Concerns Among the Telecommunication Companies
Challenges:
Lack of Awareness of the Blockchain Technology in Various Regions and Lack of Understanding About the Blockchain Concept, Skill Sets, and Technical Knowledge
Restraints:
Rising Concerns Related to the Authenticity of Users and Lack of Common Standards and Regulatory Status
Opportunities:
Blockchain Technology Helps the Telecom Sector in Fraud Management and Extensive Use of Blockchain Solutions in IoT Space
Key Target Audience
Telecom Vendors, Communication Service Providers (CSPs), Blockchain Technology Vendors, Consulting Firms, System Integrators, Value-added Resellers (VARs) and Information Technology (IT) Agencies
Market Leaders & Development Strategies
In Jan 2020, the Dixintong Technology Group confirmed a ground-breaking partnership with U.S./Asia-based Monsoon Blockchain, a leading cloud-storage technology company. The mega-deal has created the leading-edge provider in intelligent cloud optimization and cloud data storage. It is now the forerunner of innovation in the 5G, telecommunications, photonics, AI, and IoT industries on the blockchain in China.
In Oct 2019, TBCASoft, IBM, and SoftBank Corp. announced that they are entering into a strategic collaboration to support the transformation of the telecommunications industry that is intended to use cross-carrier blockchain technology designed to enable new synergies throughout the industry, provide new services to telecom carriers and their subscribers, and foster innovative business models.