Global Blockchain in Telecom Market (2021-2030): Comprehensive study explores Huge Growth in Future | Amazon Web Services Inc., BlockCypher Inc., Cegeka, Clear, Huawei

Absolute Markets Insights has recently announced the addition of new statistical data titled as, Blockchain in Telecom market to its intensifying repository, which helps to make informative decisions in the businesses. It features the current situation of late organizations alongside authentic records to get pivotal data. This exploration report has been accumulated based on static and dynamic parts of the organizations. Essential and optional exploration approaches have been utilized to examine the objective information adequately.

With technology being used in every industry and telecommunications (telecom) being no stranger to technology such as mobile 2G internet, 3G internet, 4G internet, and the upcoming 5G internet, there is a need for arrangements regarding roaming charges during a call or data session from one network provider to another. This can generate a lot of data. This is where blockchain comes in order to validate the accuracy of the files that are being transitioned through the system. Blockchain is also necessary for curbing redundant work. Telecom industry and experts are counting on blockchain to streamline 5G network deployment around the world. The importance of blockchain is being seen for internet of things (IoT) device management too, and its potential lies in providing cutting-edge computing capabilities, and make the cross-carrier payment networks more efficient, along with boosting the inter-carrier clearing efficiencies. Hence, blockchain in telecom market is gaining traction worldwide.

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Some of the major players operating in the global blockchain in telecom market are Amazon Web Services Inc., BlockCypher Inc., Cegeka, Clear, Huawei, IBM Corporation, Infosys Limited, Microsoft, Oracle, R3, Reply, SAP SE, Wipro Limited, and others.

A blockchain firm that specializes in the settlement and clearing has recently secured a US $ 13 million in a Series A round in order to build a high-volume transaction system for payments between telecom companies. The European cybercrime center of Europol have revealed in a report that every year, the telecom fraud costs US$ 32.7 billion to the world. Telecom companies are demanding blockchain to prevent fraud. The major factors that are driving the global blockchain in telecom market are many but the most important one is growing investment towards enhancement of operational efficiency among telecom companies. Smart contracts on blockchain can eliminate frauds related to roaming & settlements, human error, and lack of transparency. Blockchain solutions can place identity management in a secure way after taking them from multiple third-party agents. This gives greater control to individuals. Hence, the demand for blockchain is telecom market is on the rise.
Blockchain-powered smart contracts can ease the service level agreement (SLA) monitoring. If the unique device/SIM data is stored on the blockchain, then phone theft can be prevented with swift identification of stolen phone and stolen devices can be blocked instantaneously. The programmable nature of blockchain makes it possible to automate actions. Verified information can be added to blockchain through a consensus process to keep the data secure. Saved data cannot be translated into readable information without a key. The growth of global blockchain in telecom market is likely to open new opportunities in the governance area. There is a possibility of decentralized autonomous organizations having an entirely new mechanism so that the capital and commercial activity can be organized properly.

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The global blockchain in telecom market was valued at US$ 1040.09 Mn growing at a CAGR of 18.76 % during the forecast period (2021 – 2030)
Regarding offering, the solutions category of global blockchain in telecom market registered for the highest market share because through blockchain, online transactions can be done instantly and frauds related to financial transactions can be identified quickly. For telecom industry, the benefits offered by blockchain include instant credit to users during trade, faster deposits, easy automation, cost savings due to automation, and fraud identification. As 5G internet is going to be launched in many countries soon, telecom companies are making their operations automated and internet-based. More internet-oriented setup is creating the possibility of more frauds. Hence, blockchain solutions are offering Identity as a Service (IDaaS).

Based on organization size, this report about global blockchain in telecom market explains that, large enterprise segment occupied the larger market share because earlier investment in blockchain required high amount of money which only large enterprises could afford. When most people were not aware about how blockchain could benefit the telecom industry, few large enterprises became pioneers of offering this service to telecom industry, creating their oligopoly. During the forecast period, the small and medium enterprise (SME) is expected to shoot up as the fastest growing market segment.
By provider type, the infrastructure providers segment accounted for the largest market share of the global blockchain in telecom market because in order to accelerate their digital transformation and increase their competitive edge, communications service providers (CSPs) are providing their services to IT industry leaders and business leaders. Infrastructure providers offer services focused at modernizing (and upgrading) the IT infrastructure. An advanced IT infrastructure can deliver higher performance, offer more scalability, and provide operational efficiency by transforming workloads and processes. By optimizing security operations, infrastructure providers strengthen cyber security and ensure data privacy. Maintaining control, visibility, and agility, they also strengthen compliance operations.

North America was the largest regional market in the global blockchain in telecom market due to technological advancement, presence of many major market players, economic power, and high investments in IT softwares. High internet connectivity in USA and Canada also enables the setting up of blockchain operations with ease. The availability of advanced cyber security systems have also smoothened the path for market growth of blockchain in telecom sector of North America.

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Global Blockchain in Telecom Market:
By Offering
• Solutions
• Services
By Organization Size
• Small and Medium Enterprise
• Large Enterprise
By Provider Type
• Application Providers
• Middleware Providers
• Infrastructure Providers
By Application
• OSS/BSS Processes
• Roaming & Settlements Management
• Identity Management
• Fraud Prevention
• Smart Contract
• Micropayments
• Internet of Things (IoT) Device Management
• Others

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