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Global Blockchain in Telecom Market size is predicted to reach $25.2 Billion by 2030, growing at a CAGR of 54.4% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Rapid growth in the fields of AI and ML and the growing demand from the end-use industries are poised to propel the market growth, finds IndustryARC in its recent report, titled “Blockchain in Telecom Market – By Provider (Application Providers, Middleware Providers, Infrastructure Providers), By Organization Size (Small & Medium-Sized Enterprises, Large Enterprises), By Application (OSS/BSS Processes, Identity Management, Payments, Smart Contracts, Connectivity Provisioning and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”
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APAC to Register Highest Growth:
This growth is fueled by the region’s rapid digital transformation and the increasing adoption of blockchain technology to enhance operational efficiency and security in telecom services. Countries like China, India, and South Korea are leading the way, leveraging blockchain to combat fraud, streamline billing, and manage digital identities. APAC’s vibrant startup ecosystem and supportive government policies have also fostered innovation in blockchain applications. As telecom companies seek to integrate blockchain to optimize network management and improve customer experience, APAC is poised to maintain its leading position in this burgeoning market.
Blockchain in Telecom Market 2024-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
CAGR |
54.4% |
|
Market Size in 2030 |
$25.2 billion |
|
Segments Covered |
By Provider, By Organization Size, By Application and By Region |
|
Geographies Covered |
North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East, and Africa). |
|
Key Market Players |
1. Amazon Web Services 2. Microsoft 3. SAP 4. Oracle 5. IBM 6. Huawei Enterprise 7. Subex 8. Protokol BV 9. Recordskeeper 10. Cegeka |
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Blockchain in Telecom Market Report – Key Takeaways:
In 2023, Application Providers led the Blockchain in Telecom Market with a 42.4% share. These providers address various industry challenges by integrating blockchain technology into telecom operations. They create solutions for contract management, fraud prevention, secure transactions, and identity management. The decentralized and immutable nature of blockchain enhances identity verification, making it a critical focus. The sector’s increasing demand for transparent, secure technologies that improve security and data management drives this dominance. As the telecom industry continues to evolve, the role of application providers is expected to grow and solidify.
In 2023, Smart Contracts held a 25.75% share of the Blockchain in Telecom Market. These self-executing contracts, with their terms encoded in code, are crucial for managing agreements securely and automatically, eliminating the need for intermediaries. This technology reduces costs, boosts operational efficiency, and minimizes human error. Telecom companies use smart contracts for transparent supply chain management, roaming agreements, and billing automation. Their ability to streamline complex processes and enhance service quality makes smart contracts increasingly popular, providing a competitive edge to businesses.
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Key Opportunity Analysis:
Empowering Data Monetization and Sharing Economies
Blockchain presents a compelling opportunity for telecom companies to monetize data and participate in sharing economies. With the increasing value of data in today’s digital landscape, telecom operators can use blockchain to create secure and transparent platforms for data exchange. Blockchain technology allows users to retain control over their data while enabling telecom companies to facilitate transactions between data providers and consumers. This creates new revenue streams and enhances customer trust through transparency and security. Additionally, blockchain can enable innovative sharing economy models, such as decentralized wireless networks, where users can share excess bandwidth or connectivity resources, leading to more efficient and cost-effective telecommunications solutions.
Revolutionizing Digital Identity Management and Verification
Blockchain technology offers a significant opportunity to revolutionize digital identity management and verification in the telecom sector. With the rise of digital services, telecom operators need to ensure secure and efficient identity verification processes. Blockchain’s decentralized and immutable nature allows for the creation of digital identities that are secure, private, and easily verifiable. By using blockchain, telecom companies can streamline identity verification, reduce fraud, and enhance customer experience by eliminating cumbersome and time-consuming processes. This technology also enables users to have greater control over their personal data, allowing them to share only the necessary information with service providers. Blockchain-based digital identities can simplify regulatory compliance and improve data protection, offering a robust solution for managing digital identities in the telecom industry.
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The report also covers the following areas:
Blockchain in Telecom Market 2024-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
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List of Key Market Players in the Blockchain in Telecom Market:
The Global Blockchain in Telecom Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
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