Press release
Wide Adoption of Blockchain in Telecom Market To Hone Market Growth by CAGR of 70% throughout 2019-2027
Blockchain technology in the telecom companies supports the business processes of the telecom companies by increasing the operational and business efficiency as well as revenue growth on the back of standardization and simplification of the processes with real time views. The blockchain in telecom market is anticipated to witness significant opportunities and is estimated to grow at a CAGR of around 70% over the forecast period i.e. 2019-2027. According to our research, the global blockchain in telecom market was valued at around USD 45 Million in 2018 and is estimated to cross the market value of USD 1 billion by 2027. This can be attributed to increased collaborations between the telecom companies and blockchain solution providers leading to rising number of significant opportunities to explore from potential businesses to revenue models, around the globe. The global blockchain in telecom market is segmented by application, provider, organization size, and region.
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Regionally, the global blockchain in telecom market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa, out of which, the market in North America is anticipated to hold the leading market share over the forecast period. This growth can be attributed to presence of major key players, and increasing partnership between the telecom companies and blockchain technology platforms. The blockchain in telecom market in Europe is expected to grow at an incremental rate on account of increase in venture capital funding on blockchain technology in the telecom sector. Furthermore, the market in Asia Pacific is anticipated to witness highest growth rate on account of increasing government regulations and investments, related to the implementation of blockchain technology in the telecom market. Such factors couple with rising adoption of the blockchain technology owing to its ability to provide huge opportunities to the businesses is attributed to fuel the growth of the market in Asia Pacific region.
Block chain technology in telecom market is gaining popularity on account of increase in applications of blockchain technology in telecom market, on the back of its ability to provide a secure and transparent platform while eliminating the need for third party intermediaries. Moreover numerous benefits offered to communication service providers (CSPs) are resulting in increased adoption of blockchain in telecom industry.
However, limitations related to implementation of blockchain solutions on the account of network architecture, security and technical challenges, along with regulatory issues are anticipated to hinder the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the blockchain in telecom market which includes company profiling of key companies such as Amazon Web Services, Inc. or its affiliates, Guardtime, Infosys Limited (NYSE:INFY), RecordsKeeper., and Huawei Technologies Co., Ltd., Sofocle Technologies (OPC) Pvt Ltd., Bubbletone, AT&T (NYSE: T), T-Mobile USA, INC. (NASDAQ: TMUS), and IBM (NYSE: IBM).
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Blockchain in Telecom Market Outlook 2027”, analyses the overall blockchain in telecom industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global blockchain in telecom market in the near future.
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