Blockchain has gained significant growth in the past few years as it is a peer-to-peer distributed ledger that permits open and trusted exchanges over the internet without using an independent trusted authority or central servers. The capability of blockchain to enable transparent, verifiable, and protected digital asset transactions with both proof of ownership and rights, has led to it being applied increasingly to the telecommunication and post service sector. Factors such as the necessity to drive new revenue streams, decrease costs, and make their digital services more competitive are driving the expansion of the market significantly. The transformation of the telecommunication and post service industry towards a digitalized and virtualized setting is a major stimulus for growth in this industry.
The market for blockchain in the telecommunication and post service is anticipated to achieve revenues worth USD 641.8 Million while growing at a CAGR of 59.3 percent in the forecast period from 2017 to 2023. The use of blockchain in telecommunication and post services is supporting the speeding up of the outdated business processes by generating a record of the past transactions in roaming, identity management, billing, payments and transactions. The demand for blockchain in telecommunication and post services globally is motivated by the rising trust in digital payments and services. Employment of blockchain within the telecom environment is expected to have maximum impact on the telecommunications industry’s core management systems. The integration of high-cost systems and deliver access or authentication settings for supporting roaming calls across networks and operators in the telecom sector is also providing a boost to the expansion of the market. Moreover, telecom operators across the globe have been investing in blockchain technology to offer many value-added services to their consumers, while at the same time increasing their customer base.
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With the emergence of blockchain technology, the market is projected to observe substantial development regarding initial coin offerings (ICOs) for the network or internet-based enterprises. Additionally, blockchain technology is likely to generate new avenues in the telecoms industry ranging from data-integrity management to back-office systems and billing. At present, these aspects are at a budding stage, but with time they are projected to positively influence the development of the market in the forecast period.
The blockchain in telecommunication and post services market globally is segmented into organization size, service providers, platform, digital services, application, and region. The service providers segment of the market is segmented into middleware provider, application and solution provider, infrastructure and protocols providers. The application and solution provider is anticipated to grow at a CAGR of 60.6 percent in the forecast period. By organization size, the market is segmented into SME and large enterprise. SME is anticipated to be the fastest growing segment while expanding at a CAGR of 61.3 percent in the forecast period. The application based segmentation of the market consists of smart contracts, payment & transaction network management, billing/OSS, reporting and analytics, and others. Payment & Transaction is projected to earn revenues worth USD 174.1 million in the forecast period. The segment based on digital service consists of voice/data services, digital asset transaction, value added services, content services, identity-as-a-service, and managed services. The digital asset transaction segment is expected to grow at a CAGR of 60.4 percent. On the basis of platform, the market is segmented into IOTA, Hyperledger, Openchain, Ethereum, HydraChain, and IBM Blockchain. Ethereum is considered as one of the leading segment on the basis of platforms in the market.
Detailed Regional Analysis
The regional analysis of the market comprises of regions such as Europe, North America, APAC, and Rest of the World. The North American region is leading the blockchain in telecommunication and post service market followed by the European and Asia Pacific region. The North American region is a technically advanced region and has an established infrastructure. Nations such as the U.S. in the region are accredited for a major market value of USD 7.6 Million in 2017 and is projected to grow at a CAGR of 58.9 percent through the forecast period. Canada was observed to be the next major market in 2017 and is valued at USD 4.4 Million, and it is projected to grow at a CAGR of 57.9 percent in the duration of the forecast period. The European region is the next leading market for blockchain in telecommunication and post service. The Rest of Europe region is accountable for the major market value of USD 3.9 Million in 2017 and is estimated to grow at a CAGR of 59.9 percent during the forecast period.
Increasing penetration of cloud services among small and medium enterprises is driving the public cloud market creating a highly competitive landscape. Competitors in the market are focusing on product innovation and technology to decrease the response time to the customers, provide better service, gain a competitive advantage and ensure the better growth of their businesses while reducing the cost of operations. IBM Corporation, Microsoft Corporation, Juniper Networks Inc, Coinbase, SAP SE, Atos SE, Blockchain Tech Ltd, Earthport Plc, Bitfury Group, Accenture, Plc.
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