Blockchain in Telecom Market Scope
Blockchain is currently one of the most talked-about technologies. Across industries, organizations are exploring blockchain's potential impact in their space and how they can benefit from this emerging technology. The communications service provider (CSP) industry is no exception. The major driving factors in the market are increasing support for Operation Support System/Business Support System (OSS/BSS) processes, and rising security concerns among telcos. The blockchain in the telecom market is expected to grow in the future due to rising demand for the implementation of 5G.
The market study is segmented by Type (OSS/BSS Processes, Identity Management, Payments, Smart Contracts, Connectivity Provisioning and Others), by Application (Small and Medium-Sized Enterprises and Large Enterprises) and major geographies with country level break-up.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Blockchain in Telecom market throughout the predicted period.
AWS (United States), Guardtime (Estonia), IBM (United States), Microsoft (United States), SAP (Germany), Bitfury (United States), Cegeka (Netherlands), Clear (Singapore), Reply (Italy), ShoCard (United States), Abra (United States), Auxesis Group (India), Blockchain Foundry (Singapore), BlockCypher (United States), Blocko (South Korea), Blockpoint (United States), Blockstream (United States), Chain (United States), Filament (United States), Huawei (China) and Oracle (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are RecordsKeeper (Spain), Sofocle (India), SpinSys (United States) and TBCASoft (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Blockchain in Telecom market by Type, Application and Region.
On the basis of geography, the market of Blockchain in Telecom has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In Jan 2020, the Dixintong Technology Group confirmed a ground-breaking partnership with U.S./Asia-based Monsoon Blockchain, a leading cloud-storage technology company. The mega-deal has created the leading-edge provider in intelligent cloud optimization and cloud data storage. It is now the forerunner of innovation in the 5G, telecommunications, photonics, AI, and IoT industries on the blockchain in China.
In Oct 2019, TBCASoft, IBM, and SoftBank Corp. announced that they are entering into a strategic collaboration to support the transformation of the telecommunications industry that is intended to use cross-carrier blockchain technology designed to enable new synergies throughout the industry, provide new services to telecom carriers and their subscribers, and foster innovative business models.
- Rising Use of Blockchain Technology for the Implementation of 5G
- Increasing Support for OSS/BSS Processes
- Rising Security Concerns Among the Telecommunication Companies
- Blockchain Technology Helps the Telecom Sector in Fraud Management
- Extensive Use of Blockchain Solutions in IoT Space
- Rising Concerns Related to the Authenticity of Users
- Lack of Common Standards and Regulatory Status
- Lack of Awareness of the Blockchain Technology in Various Region
- Lack of Understanding About the Blockchain Concept, Skill Sets, and Technical Knowledge
Key Target AudienceTelecom Vendors, Communication Service Providers (CSPs), Blockchain Technology Vendors, Consulting Firms, System Integrators, Value-added Resellers (VARs) and Information Technology (IT) Agencies
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