Global Blockchain in Telecom Market is Set to Reach USD 1,835.6 million by 2024

The global blockchain in telecom market is expected to grow at a CAGR of 82.4% during the forecast period with its market size predicted to reach USD 1,835.6 million by 2024. Global Blockchain in telecom market has been driven by several key factors, including increasing adoption of blockchain from the telecom sector, 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.

Globally, blockchain in telecom industry players is leveraging market growth through the formulation of several policies and reforms by a government organization in various developed as well as developing economies along with entering into several partnership agreements.

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Small and medium enterprises category is expected to witness faster growth during the forecast period in the Blockchain market

Based on organization size, the blockchain in the telecom market is segmented into small and medium-sized enterprises and large enterprises. Among the two categories, the small and medium enterprises category is expected to witness faster growth during the forecast period. The growth of this segment is attributed to increasing utilization of these techniques that helps in eliminating wastage of resources and cost, thereby enhancing efficiency and effectiveness in their business operations.

Geography Insight

Geographically, North America has accounted for the largest share in blockchain in the 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.

Competitive Insight

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, BigchainDB Gmbh, Ethereum Foundation, Earthport PLC, Factom, BTL Group Ltd., Humaniq, Tierion, BlockCypher Inc., AlphaPoint, and Bitfury Group Limited.

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