Research Nester released a report titled “Blockchain in Telecom Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers the detailed overview of the blockchain in telecom market in terms of market segmentation by application, provider, organization size, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The blockchain in telecom market is anticipated to record a CAGR of around 70% over the forecast period i.e. 2019-2027. The growth of the market is driven by 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. Additionally, the ability of blockchain technology to support the business processes of the telecom companies by increasing the operational and business efficiencies as well as revenue growth on the back of standardization and simplification of the processes with real time views, is expected to contribute to significant growth of the market in upcoming years. 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.
The market is segmented by applications into connectivity provisioning, identity management, OSS/BSS processes, smart contracts, payments, and others. On the basis of provider, it is segmented into application, middleware, and infrastructure provider; by organization size into large enterprises and small & medium enterprises.
Geographically, 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 largest market share over the forecast period owing to presence of major key players, and increasing partnership between the telecom companies and blockchain technology platforms in the region. Moreover, the 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 market. Furthermore, the market in Asia Pacific is anticipated to witness highest growth rate on account of increasing government regulations and investments, pertaining to use of blockchain technology in the telecom market. These factors, along with, increase in adoption of the blockchain technology on the back of its ability to provide huge opportunities to the businesses is attributed to fuel the growth rate of Asia Pacific market.
Revenue Assurance to Boost Adoption of Blockchain Technology in Telecom Market
With the increase in applications of blockchain technology in telecom market, the various telecommunication companies are adopting the technology owing to its ability to provide a secure and transparent platform combined with numerous benefits offered to communication service providers (CSPs). Additionally, block chain technology in telecom market is gaining popularity on account of the improved revenue growth assurance to the businesses on account of simplified process, increased efficiency and enhanced customer experience. These factors are anticipated to considerably support the growth of the market over the forecast period.
However, limitations pertaining 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). The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the blockchain in telecom market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.