Blockchain in Telecom Market by Provider (Application Providers, Middleware Providers, and Infrastructure Providers), Application (OSS/BSS Processes, Identity Management, Connectivity Provisioning), Organization Size, and Region - Global Forecast to 2023
“Increasing support for OSS/BSS processes is expected to drive the overall growth of blockchain in telecom market”
The blockchain in telecom market size is expected to grow from USD 46.6 million in 2018 to USD 993.8 million by 2023, at a Compound Annual Growth Rate (CAGR) of 84.4% during the forecast period. The blockchain in telecom market is driven by various factors, such as the increasing support for OSS/BSS processes and rising security concerns among telcos. However, growing concerns over the authenticity of users, and uncertain regulatory status and the lack of common standards can hinder the growth of the market.
Application providers segment is expected to grow at a higher CAGR during the forecast period
The application providers segment is the fastest growing segment in the blockchain in telecom market. The blockchain in telecom market has been categorized as, application providers, middleware providers, and infrastructure providers. The application providers leverage the platforms and solutions provided by infrastructure providers and tools provided by middleware providers for the development of applications. Applications developed have various use cases and can run on endpoints, mobile devices, and other IoT devices.
OSS/BSS processes segment is expected to hold the largest market share during the forecast period
The OSS/BSS processes segment consists of import set of functions required for the telecom sector. OSS applications are important for the telecom sector as they aid in management and operations of telcos’ network and customer services. BSS helps the telecom sector in 4 areas: product management, order management, revenue management, and customer management. The OSS/BSS processes running on the traditional networks are subject to data theft and clustered business operations. Blockchain efficiently handles various challenges involved in OSS/BSS processes. Concerns over number portability, billing and flexi eSIM provisioning, roaming, and fraud are efficiently handled by the blockchain network. Apart from the OSS/BSS processes, connectivity provisioning is one such segment which will be growing at the highest CAGR during the forecast period. 5G enablement, IoT connectivity, and M2M connectivity will drive the adoption of blockchain in the connectivity provisioning segment of blockchain in telecom market.
APAC is expected to record the highest growth rate during the forecast period
APAC is expected to have the highest growth rate during the forecast period, due to the increase in venture capital funding, increasing number of startups, governments’ increasing focus on regulating the blockchain technology in the telecom market space. The key telecom service providers, financial hubs, and government organizations in China, Australia and New Zealand, India, and Singapore, provide huge opportunities for the adoption of the blockchain solutions in the telecom sector. Meanwhile, North America is projected to hold the largest market size during the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the blockchain in telecom marketplace.
By company type: Tier 1: 35%, Tier 2: 55%, and Tier 3: 10%
By designation: C-Level: 60%, Director Level: 25%, and Others 15%
By region: North America: 25%, Europe: 35%, APAC: 25%, MEA: 10% and Latin America: 5%
The blockchain in telecom market comprises major solution providers, such as AWS (US), Guardtime (Estonia),IBM (US), Microsoft (US), SAP (Germany), Bitfury (US), Cegeka (The Netherlands), Clear (Singapore), Reply (Italy), ShoCard (US), Abra (US), Auxesis Group (India), Blockchain Foundry (Singapore), BlockCypher (US), BLOCKO (South Korea), Blockpoint (US), Blockstream (US), Chain (US), Filament (US), Huawei (China), Oracle (US), RecordsKeeper (Spain), SpinSys (US), Sofocle (India), and TBCASoft (US). The study includes in-depth competitive analysis of these key players in the blockchain in telecom market, with their company profiles, recent developments, and key market strategies.
The market study covers the blockchain in telecom market across segments. It aims at estimating the market size and the growth potential of this market, across different segments, such as provider, application, organization size, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall blockchain in telecom market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.