Jersey City, New Jersey, Nov. 30, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “Blockchain in the telecom market” By application (smart contracts, identity management, connectivity provisioning, OSS/BSS processes, payments) and by geography.
According to the deep research conducted by Verified Market Research, the global Blockchain In Telecom Market size was valued at USD 85.83 Million in 2020 and is projected to reach USD 5309.28 Million by 2028, growing at a CAGR of 80, 28% from 2021 to 2028.
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Browse in-depth TOC on “Blockchain in the telecom market“
202 – Pages
126 – Tables
37 – Numbers
Scope of the report
Global Blockchain In Telecom Market Overview
Basically, blockchain is a collection of distributed ledger technologies used to keep track of every transaction that has ever taken place between two or more people. Almost all industries have accepted Blockchain as a technology because it has the ability to disrupt or change business practices. It is a fantastic answer for the most crucial necessity of the telecom sector, which is to keep historical user records without the possibility of these records being changed. Organizations are now able to control a number of user account-related functions.
Blockchain technology has several applications in the telecom sector, including the automation of a number of internal processes, including billing systems, roaming and supply chain management. Blockchains are distributed ledgers that are replicated by network participants. Blockchains also help keep a complete record of all transactions between two or more people or groups. Simply put, a blockchain is an immutable history that can be validated by other stakeholders. Blockchain’s transaction records are irreversible, and any other public or private network can be regulated according to the user company’s requirements.
Blockchains are distributed ledgers that are replicated by network participants. Blockchains also help keep a complete record of all transactions between two or more people or groups. Simply put, a blockchain is an immutable history that can be validated by other stakeholders. Blockchain’s transaction records are irreversible, and any other public or private network can be regulated according to the user company’s requirements.
In addition, the increasing use of 5G is a spur for the use of blockchain in telecom, as 5G enables efficient and reliable blockchain operation. Fraud in the telecommunications industry is a rapidly growing area of criminal activity. Blockchain can help communication service providers detect and prevent fraud. Scalability and interoperability are prerequisites for widespread use of blockchain technology. Only when industry standards are established, which are now in the development phase, can this be considered. The widespread use of blockchain technology creates problems for the telecom industry.
Verified market research narrows down the available data by using primary sources to validate the data and use it to compile a full-fledged market research. The report contains a quantitative and qualitative assessment of market elements that interest the customer. The “Global Blockchain In Telecom Market” is mainly divided into sub-segments which can provide classified data on the latest trends in the market.
Key players
The study report “Global Blockchain In Telecom Market” will provide a valuable insight with an emphasis on the global market. The biggest players in the market are IBM Corporation, SAP, Microsoft, Amazon (AWS), Huawei, Blockchain Foundry Inc., Oracle Corporation, ShoCard Inc., Guardtime, Blocko, Filament.
Based on the research, Verified Market Research has segmented the global Blockchain In Telecom Market into application and geography.
- Blockchain in the telecom market, by application
- Smart contracts
- Identity management
- Arrangement for connection
- OSS/BSS processes
- Payments
- Second
- Blockchain in the telecom market, by geography
- North America
- Europe
- Germany
- France
- Great Britain
- The rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ADVICE
- Middle East and Africa
- Latin America
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