The Blockchain in Telecom market is expected to register a CAGR of over 26.78% during the forecast period 2018 - 2023. The report profiles the companies providing blockchain solutions in telecom for various applications.
As blockchain is making transactional processes cheaper, faster, and more transparent, it poses tremendous promise in telecom industry. Communication service providers control the end-to-end value chain (data connectivity), network infrastructure, and various other consumer services, for both the users and businesses. Thus, the need to find new sources of revenues and reduce the costs is more than ever, as revenue is decreasing owing to the factors, such as high cost and high bandwidth demand. Thus, blockchain provides the capability to influence the core management system of CSPs by creating an ecosystem where cost can be reduced, and the revenue can be increased with the efficiency. In addition to this, fraud detection and prevention is expected to remain the topic of relevance for majority of CSPs, as it costs the industry of over USD 35 billion, annually. The blockchain in principle is a good contender for significantly decreasing the cost of fraud in cases of roaming and in identity management.
Smart Contracts is expected to Occupy Significant Market Share
Smart contracts allow computer code to execute on its own when specific conditions are met. In the telecom industry, it is expected to witness significant adoption as it provides scope for automation in their internal operations, like billing, supply chain management, and roaming. Deploying smart contracts manage all of the billing related to roaming can lead to significant cost savings, as it provides prevention against fraudulent traffic. Currently, transactions within the telcos ledgers go through a clearing house to be authenticated. However, the adoption of smart contracts can automate this process leading to elimination of post-processing, which saves time for the companies. Furthermore, in doing so, telcos also saves money by spending less on auditing and accounting as the process is automated.
Asia-Pacific is expected to Have Highest Growth Rate
The region boasts of tremendous potential for the market, owing to growing prominence in mobile payments in countries, such as India and China. India, specifically after the demonetization scheme in 2016, has witnessed a lot of Telco’s shifting toward this model. For instance, Jio and Airtel, the country's leading telcos, offer their digital wallets to enable customer-to-customer payments. Thus, adoption of blockchain to handle the transactions by these companies could make their wallets more secure and cheaper. Also, China’s top three telecom companies are teaming up to use blockchain to bolster operations and security in the industry. China Mobile, China Telecom, and China Unicom have joined the CAICT’s Trusted Blockchain Initiative. The companies are expected to focus on blockchain-based apps that relate to IoT data sharing and customer identity verification. With other countries to follow suit, it is expected to drive the blockchain in telecom market.
Key Developments in the Market
- July 2018: The global blockchain consortium of telecom carriers, the Carrier Blockchain Study Group (CBSG) announced that Axiata, PLDT, PT. Telin, Turkcell, Viettel, and Zain Group agreed to jointly explore and build a next-generation global cross-carrier blockchain platform and ecosystem
- April 2018: SK Telecom, the largest telecom operator in South Korea announced that it will provide an asset management service by using blockchain technologies in 2018, and build a platform that will help match blockchain startups with investors for growth of the techs and related industry
Major Players: Blockchain Foundry Inc., Huawei Technologies Co., Ltd, Microsoft Corporation, Oracle Corporation, SAP SE, and Shocard, among others.
Blockchain in Telecom Market Report Summary
Blockchain in Telecom Market
The Blockchain in Telecom Market offers latest trends, growth prospects, industry competitiveness, major players, value/supply chain, regional market share, and forecast until 2023.
Reasons to Purchase this Report
- Impact of telecommunication frauds on the market
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segments that are expected to dominate the market
- Regional analysis of the market during the forecast period
- Latest developments, market shares, and strategies employed by the major market players and key innovators
- 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
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1.1 Key Study Deliverables
1.2 Key Study Assumptions
1.3 Market Definition
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Security Concerns in Telecommunications Industry
4.2.2 Growing Support for OSS/BSS Processes
4.3 Market Restraints
4.3.1 Lack of Industry Wide Standards
4.4 Market Opportunities
4.4.1 5G Enablement
4.4.2 IoT Connectivity
4.5 Porter’s Five Forces Model – Industry Attractiveness
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
5. Global Blockchain in Telecom Market Segmentation
5.1.1 Identity Management
5.1.2 Payments and Billing
5.1.3 Smart Contracts
5.1.4 Other Applications
5.2 By Region
5.2.1 North America
5.2.4 Middle East & Africa
5.2.5 Latin America
6. Competitive Intelligence – Company Profiles
6.1 Blockchain Foundry Inc.
6.2 Huawei Technologies Co., Ltd
6.3 Microsoft Corporation
6.4 Oracle Corporation
6.5 SAP SE
*List is not exhaustive"
7. Investment Analysis
8. Future Outlook of Blockchain in Telecom Market