PUBLISHER: IMARC | PRODUCT CODE: 1390853
PUBLISHER: IMARC | PRODUCT CODE: 1390853
The global blockchain in telecom market size reached US$ 447.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 7,591.4 Million by 2028, exhibiting a growth rate (CAGR) of 60.30% during 2022-2028.
Blockchain refers to a decentralized technological solution used for recording, collecting and maintaining a transaction history of a digital asset between two or more parties. It is linked through cryptography for providing a time-stamp of the transaction. It is widely used by organizations to prevent thefts, streamline administrative procedures, create transparent networks, store unique device data and curb fraudulent activities. Blockchain in telecom is widely used for smart contracts, connectivity provisioning, identity management, payment and billing. It also aids in providing instant traceability and automation and increasing the operational efficiency of the business process. It maintains the historical records of users that can be verified by other stakeholders and cannot be tampered with.
The rising security concerns among telecom organizations across the globe is one of the key factors driving the growth of the market. Blockchain in telecom provides enhanced security as it uses cryptography encryption to protect all transactions. Additionally, the increasing demand for smart contracts is providing a thrust to the market growth. Blockchain is widely used to automate the execution of an agreement with predetermined conditions. Moreover, various technological advancements, such as the integration of the Internet of Things (IoT) and artificial intelligence (AI) with connected devices, are favoring the market growth. These technologies enable smart devices to send data and create tamper-resistant records of the shared transactions. Other factors, including the integration of blockchain solutions for the implementation of 5G technology, along with the increasing utilization of blockchain-based mobile wallet payments, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global blockchain in telecom market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on provider, organization size and application.
Application Providers
Middleware Providers
Infrastructure Providers
Small and Medium-sized Enterprises
Large Enterprises
OSS/BSS Processes
Identity Management
Payments
Smart Contracts
Connectivity Provisioning
Others
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon.com Inc., Blockchain Foundry Inc., Cegeka, Deloitte Touche Tohmatsu Limited, Huawei Technologies Co.Ltd., Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Tbcasoft Inc. and Wipro Limited.