Press release
Blockchain in Telecom Market Emerging Business Trends and Investment Research Report 2022-2026
The Blockchain in Telecom Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Blockchain in Telecom market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Blockchain in Telecom market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Blockchain in Telecom market.The blockchain in the telecom market was valued at USD 151.93 million in 2020 and is expected to reach USD 677.66 million by 2026, at a CAGR of 28.3% over the forecast period 2021 - 2026.
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Top Leading Companies of Blockchain in Telecom Market are - Blockchain Foundry Inc., Huawei Technologies Co., Ltd, Microsoft Corporation, Oracle Corporation, SAP SE, ShoCard Inc and others.
Industry News and Updates:
- July 2019 - South Korea's largest telecom and the third top conglomerate SK Group invested $10 million in major global blockchain firm ConsenSys for entering into token economy.
- February 2019 - SKT partnered with the world’s fifth largest telecom firm, Germany’s Deutsche Telekom, to create a blockchain-enabled mobile identification solution.
- July 2018: The global blockchain consortium of telecom carriers, the Carrier Blockchain Study Group (CBSG) announced that Axiata, PLDT, PT. Telin, Turkcell, Viettel, and Zain Group agreed to jointly explore and build a next-generation global cross-carrier blockchain platform and ecosystem
Key Market Trends:
Smart Contract to Dominate the Market
- Smart contracts allow computer code to execute on its own when specific conditions are met. In the telecom industry, it is expected to witness significant adoption as it provides scope for automation in their internal operations, like billing, supply chain management, and roaming.
- Deploying smart contracts manage all of the billing related to roaming can lead to significant cost savings, as it provides prevention against fraudulent traffic.
- Currently, transactions within the telcos ledgers go through a clearing-house to be authenticated. However, the adoption of smart contracts can automate this process leading to the elimination of post-processing, which saves time for the companies.
Asia-Pacific to Witness the Highest Growth
- The region boasts of tremendous potential for the market, owing to growing prominence in mobile payments in countries, such as India and China. India, specifically after the demonetization scheme in 2016, has witnessed a lot of Telco’s shifting toward this model.
- For instance, Jio and Airtel, the country's leading telcos, offer their digital wallets to enable customer-to-customer payments. Thus, adoption of blockchain to handle the transactions by these companies could make their wallets more secure and cheaper.
- China Mobile, China Telecom, and China Unicom have joined the CAICT’s Trusted Blockchain Initiative, which will use blockchain to bolster operations and security in the industry. The companies are expected to focus on blockchain-based apps that relate to IoT data sharing and customer identity verification.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Blockchain in Telecom Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Blockchain in Telecom Market (%),2016 - 2026
- Blockchain in Telecom Market Share, By Brand
- Blockchain in Telecom Market Share, By Company
- Blockchain in Telecom Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Blockchain in Telecom Market Value Analysis & Forecast
- Promising Blockchain in Telecom Development by Major Companies
- Detailed Blockchain in Telecom Portfolio of the Major Companies
- Major Deals in the Blockchain in Telecom Market
- Major Companies Analysis
Browse Full Report at:
https://www.marketinsightsreports.com/reports/02082592463/blockchain-in-telecom-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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