Global Blockchain in Telecom Market – Analysis and Forecast (2019-2024)

1. Global Blockchain in Telecom Market

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3. Global Blockchain in Telecom Market The global blockchain in telecom market is projected to reach USD 1,835.6 million by 2024, registering a CAGR of 82.4% during the forecast period. Increasing security concern among telecom companies, and increasing support for operation support system/business support system (OSS/BSS) processes, propelling the growth of the market.

4. Global Blockchain in Telecom Market Based on application, the blockchain in telecom market is segmented into operation support system/business support system (OSS/BSS) process, identity management, payments, smart contracts, connectivity provisioning, and others (roaming and digital asset management). Among all these segments, the connectivity provisioning category is expected to witness the fastest growth during the forecast period. It covers 5G enablement, IoT connectivity, and M2M connectivity. With the assistance of blockchain technology, administrators can provide device connection to multiple local hotspots and Wi-Fi based on permission. Extensive use of blockchain solutions in IoT space across the globe is the key trends observed in the blockchain in telecom market, globally.

5. Global Blockchain in Telecom Market Global blockchain in telecom market has been driven by several key factors, including increasing adoption of blockchain from telecom sector for fraud management, growing cases of fraudulent activities in the telecom sector, increasing need to provide protection against data tempering, and increasing support for operation support system/business support system (OSS/BSS) processes. Geographically, North America has accounted for the largest share in blockchain in telecom market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards the existence of a large number of players of blockchain technology in the region and also it is considered as the most advanced region in terms of advanced technology adoption The wide presence of major industry players of blockchain technology solutions in this region is the key driving factor for the growth of the market. Moreover, Asia-Pacific is expected to witness the fastest growth during the forecast period due to the rise in in venture capital funding, growing number of startups venturing into this market space, and governments focusing on regulating the blockchain technology.

6. Global Blockchain in Telecom Market Some of the key players operating in the global blockchain in telecom market are IBM Corporation, Amazon Web Services, Inc., Microsoft Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, Infosys Limited, Accenture plc, Intel Corporation, BigchainDBGmbh, Ethereum Foundation, Earthport PLC, Factom, BTL Group Ltd., Humaniq, Tierion, BlockCypher Inc., AlphaPoint, and Bitfury Group Limited.

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