Global Blockchain In Telecom Market Size By Application (Smart Contracts, Identity Management, Connectivity Provisioning), By Competitive Landscape, By Geographic Scope And Forecast

Blockchain In Telecom Market Size And Forecast

Blockchain In Telecom Market size was valued at USD 649.24 Million in 2024 and is projected to reach USD 29547.4 Million by 2031, growing at a CAGR of 67.47% from 2024 to 2031

The global market for Blockchain in telecom or telecommunications is expected to see promising growth in the future years owing to the rise in support for business support systems (BSS) or operation support systems (OSS). Blockchains are shared records that replicate through stakeholders in the network. The Global Blockchain In Telecom Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Blockchain In Telecom Market Definition

Blockchain is a set of distributed ledger technologies that are used to record and maintain the complete history of all transactions that have happened between two or more users. As a technology, Blockchain has been adopted in almost all industries as it has the potential to disrupt or change business models. It is a wonderful answer for the most crucial necessity of the telecom sector, which is to hold historical user records without any possibility of those records being altered. This makes it possible for organizations to manage different aspects of the users' accounts.

Some of the application areas of blockchain technology in the telecom industry are the automation of many internal operations such as billing systems, Roaming, and supply chain management. Blockchains are shared records that replicate through stakeholders in the network. Blockchains also help maintain a complete history of all transactions that have taken place between two or more groups or parties. Simply said, a blockchain is an unchangeable history that can be validated by other stakeholders. Blockchains' transaction records are irreversible, and any other public or private network can be regulated following the user company's requirements.

Global Blockchain In Telecom Market Overview

The global market for Blockchain in telecom or telecommunications is expected to see promising growth in the future years owing to the rise in support for business support systems (BSS) or operation support systems (OSS). Blockchains are shared records that replicate through stakeholders in the network. Blockchains also help maintain a complete history of all transactions that have taken place between two or more groups or parties. Moreover, the Increasing adoption of 5G is a catalyst for blockchain implementation in telecom, as 5G is helping in quick and reliable blockchain operations.

Fraud in the telecommunications industry is a rapidly expanding area of criminal activity. Trend Micro and the European Cybercrime Centre of Europe estimate that telecom fraud costs the global economy USD 32.7 billion per year. It offers a fresh obstacle for law enforcement organizations. Blockchain can aid communication service providers in the detection and prevention of fraud. Scalability and interoperability are prerequisites for the widespread use of blockchain technology. Only when industry standards are established, which is now in a developing stage, is this conceivable.

The widespread adoption of blockchain technology is causing problems for the telecom industry. However, the major restraining factor in the growth of Blockchain In Telecom Market includes growing concerns related to the authenticity of users uncertain regulatory status, and the lack of common standards. Many enterprises believe identity theft done by criminals can help them to gain access to account details and blockchain would not be able to prevent it. Also, government bodies' restrictions on the adoption of blockchain technology and lack of common standards can hinder the growth of the market.

Global Blockchain In Telecom Market: Segmentation Analysis

The Global Blockchain In Telecom Market is Segmented on the basis of Application And Geography.

Blockchain In Telecom Market, By Application

• Smart Contracts
• Identity Management
• Connectivity Provisioning
• OSS/BSS Processes
• Payments
• Others

Based on Application, The market is bifurcated into Smart Contracts, Identity Management, Connectivity Provisioning, OSS/BSS Processes, Payments, and Others. During the projected period, the connectivity provisioning segment is anticipated to increase at the greatest CAGR. IoT connectivity, M2M connectivity, and 5G enablement are all included in the connectivity provisioning category. Operators can allow device access to several nearby hotspots and Wi-Fi based on permission with the aid of blockchain technology. One of the key applications of blockchain technology is 5G enablement. The blockchain network can be used to deploy both 3GPP (LTE, GPRS) and non-3GPP (WiMax, WLAN, and Wi-Fi) technologies.

Blockchain In Telecom Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• On the basis of Regional Analysis, The Global Blockchain In Telecom Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is estimated to account for the largest market share. When it comes to infrastructure development and technological adoption, North America is regarded as the most advanced region. The wide presence of key industry players in blockchain technology solutions in this region is the main driving factor for the growth of the market. Various telcos in the region are adopting blockchain technology to reduce identity and roaming frauds and enhance customer experience.

Key Players

The "Global Blockchain In Telecom Market" study report will provide valuable insight with an emphasis on the global market including some of the major players such as IBM Corporation, SAP, Microsoft, Amazon (AWS), Huawei, Blockchain Foundry Inc., Oracle Corporation, ShoCard Inc., Guardtime, Blocko, Filament. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

• Partnerships, Collaborations, and Agreements
• November 2020. IBM and AMD Announce Joint Development Agreement to Advance Cloud Confidentiality and Accelerate Artificial Intelligence.
• March 2020. Ingram Micro Cloud, an Amazon Web Services (AWS) Advanced Consulting Partner and AWS Distributor, announced today the signing of a new global Strategic Collaboration Agreement (SCA) with AWS. This multi-year joint investment aims to accelerate the global expansion of AWS Partners via Ingram Micro Cloud.
• March 2020. Blockchain Foundry and Matic Network Form Collaboration to Study Blockchain Interoperability.
• Mergers and Acquisitions
• November 18, 2020. IBM is to acquire Instana as part of the continued advancement of its hybrid cloud and AI strategy. Acquisition to assist businesses in using artificial intelligence to better manage the complexity of modern applications that span a hybrid cloud landscape; Enhances IBM's industry-leading AI-powered automation capabilities.
• October 2020. ShoCard, a blockchain identity startup, has been acquired by Ping. Ping accelerated its entry into the personal identity management market with the acquisition of ShoCard, which manages consumer identities on a blockchain-based platform.