Jersey City, New Jersey, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Blockchain In Telecom Market” By Application (Smart Contracts, Identity Management, Connectivity Provisioning, OSS/BSS Processes, Payments), and By Geography.
As per the deep research carried out 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 Telecom Market”
202 - Pages
126 – Tables
37 – Figures
Report Scope
Global Blockchain In Telecom Market Overview
Basically, blockchain is a collection of distributed ledger technologies that are 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 alter business practices. It is a wonderful answer for the most crucial necessity of the telecom sector, which is to hold historical user records without any possibility of those records being altered. Organizations are now able to control a variety of user account-related functions.
Blockchain technology has several uses in the telecom sector, including the automation of numerous internal processes including billing systems, roaming, and supply chain management. Blockchains are distributed ledgers that are replicated by network participants. Blockchains also assist in keeping a complete record of all transactions between two or more persons or groups. Simply said, a blockchain is an unchangeable history that can be validated by other stakeholders. Blockchains' transaction records are irreversible, and any other public or private network can be regulated in accordance with the user company's requirements.
Blockchains are distributed ledgers that are replicated by network participants. Blockchains also assist in keeping a complete record of all transactions between two or more persons or groups. Simply said, a blockchain is an unchangeable history that can be validated by other stakeholders. Blockchains' transaction records are irreversible, and any other public or private network can be regulated in accordance with the user company's requirements.
Additionally, the growing use of 5G is a spur for the application of blockchain in telecom, as 5G enables efficient and dependable blockchain operation. Fraud in the telecommunications industry is a rapidly expanding area of criminal activity. Blockchain can aid communication service providers in the detection and prevention of fraud. Scalability and interoperability are prerequisites for widespread use of blockchain technology. Only when industry standards are established, which is now in a developing stage, is this conceivable. The widespread adoption of blockchain technology is causing problems for the telecom industry.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Blockchain In Telecom Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Key Players
The “Global Blockchain In Telecom Market” study report will provide a valuable insight with an emphasis on the global market. The major 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 Telecom Market, by Application
- Smart Contracts
- Identity Management
- Connectivity Provisioning
- OSS/BSS Processes
- Payments
- Others
- Blockchain In Telecom Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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