Blockchain in Telecom Market to Experience Highest Growth of $80 Billion at 74.8% CAGR by 2033: Fact.MR Study

Rockville, Feb. 22, 2023 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, reveals that the global telecom blockchain market is set to raise $80 billion by 2033, with a boom of 74.8 % CAGR from 2023 to 2033.

The telecommunications industry is known for reinventing itself. Landlines were the main product of telecom companies in the early periods; but with the introduction of the mobile phone this changed to mobile subscriptions and SMS (Short Message Service). In recent years, many telecom companies’ primary source of revenue has shifted from calls to data, necessitating a new shift in their business model. With every company becoming a data organization, there is great opportunity for the telecommunications industry to reinvent itself again, thanks to blockchain.

A blockchain is a public electronic ledger distributed to shareholders in a network that records all transactions between two or more parties. Telecom companies can use blockchain technology to improve data integrity, security, inspection and fraud prevention.

One of the main aspects driving the market expansion is growing security concerns among telecom companies worldwide. Blockchain in telecom provides greater security by encrypting all transactions with cryptography. Furthermore, the growing need for smart contracts is driving the market expansion. Blockchain is widely used to automate the implementation of an agreement with preset conditions.

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Moreover, technological improvements such as incorporation of AI and IoT with connected devices are increasing the market expansion. These technologies allow smart devices to transfer data while creating tamper-proof records of shared transactions. Other reasons, including the incorporation of blockchain solutions for the development of 5G technology and the increasing use of blockchain-centric mobile wallet payments, are expected to drive the market forward.

Important things from market research

• The global blockchain in the telecom market is valued at USD 300 million in 2023.

• The market is predicted to rise ahead at a CAGR of 74.8% during the forecast period (2023 to 2033).

• The telecom blockchain market is predicted to reach $80 billion by 2033.

• The North American market is estimated to expand at a CAGR of 46.02% from 2023 to 2033.

• The smart contracts segment is expected to witness significant growth over the next ten years.
  

“Blockchain technology uses strong encryption to record and store data on networks in a more secure and verifiable manner. It makes the data transparent and tamper-proof. As a result, blockchain technology is predicted to help various telecom companies improve network security and lower operating expenses.

says a Fact.MR analyst.

Key segments of blockchain in telecom industry research

• By supplier:
  

  • Infrastructure providers

  • Application providers

  • Middleware providers

• After application:
  

  • OSS/BSS processes

  • Identity management

  • Payments

  • Smart contracts

  • Arrangement for connection

  • Other applications

• By region:

  • North America

  • Latin America

  • Europe

  • East Asia

  • South Asia and Oceania

  • MEA

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Regional analysis

North America leads the global blockchain within the telecom market. The United States contributes significantly to the regional market due to the presence of major blockchain technology vendors in the country. Also, Asia Pacific and Europe follow North America in terms of development.

Challenging landscape

Blockchain in the telecom industry is highly consolidated with only a few major players offering blockchain solutions across the telecom industry. The providers also receive funding from investors, which will help in the development of innovative blockchain services.

• Tech Mahindra and telecom analytics solutions provider Subex partnered in November 2022 to roll out blockchain-centric solutions worldwide for telecom operators. By reducing overall compliance issues, these solutions will reduce fraud and increase operational efficiency for communications service providers (CSPs).

• Trai planned to introduce new blockchain technology to curb spam calls and text messages in November 2022 in collaboration with TSPs. The organization is developing several technologies, including blockchain technology, to identify spam calls and text messages. In addition, the regulator forms a joint committee of regulators (JCOR) consisting of Trai (the Telecom Regulatory Authority of India), MoCA (Ministry of Consumer Affairs), SEBI (Securities and Exchange Board of India) and RBI (Reserve Bank of India).

• Global Telecom, a pioneer in wireless technology design at the intersection of network and hardware, introduced its MERCURY series of tri-connectivity modules in February 2022, the first purpose-built modules designed to allow connectivity to cellular, private and satellite networks as well as Bluetooth and Wi-Fi . The MERCURY series from Global Telecom is the first to offer connectivity to all three wireless networks, as well as Bluetooth and Wi-Fi. It features hostless, patented, driverless technology with an added layer of blockchain security.
  

Profiled key companies

• Auxesis group

• Abra

• AWS

• Blocko

• Bit fury

• Block cipher

• Blockchain foundry

• Blockstream

• Blockpoint

• Cegeka

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Fact.MR, in its new offering, presents an objective analysis of the global blockchain in the telecom market, presenting historical demand data (2018 to 2022) and forecast statistics (2023 to 2033).

The study reveals important insights about the market on the basis of vendor (infrastructure vendors, application vendors, middleware vendors) and application (OSS/BSS processes, identity management, payments, smart contracts, connectivity provision, other applications), across five major regions of the world (North Americas, Europe, Asia-Pacific, Latin America and the Middle East and Africa).

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