Market Analysis
The global blockchain in telecommunication and post service market will touch USD 641.8 million at a 59.3% CAGR in the forecast period 2017- 2023, as per the new Market Research Future (MRFR) analysis. Blockchain is a highly emerging technology which is being used in different applications and industries for its secured transaction process. One industry where it has rooted its position is the telecommunication industry owing to the advent of digitalization. Blockchain offers an array of benefits like enhanced proficiency of new products, secure tracking of customer data, and reduction of operational costs. The security provided by the use of this technology also provides a low rate of forgery and fraud. Telecom giants are investing in blockchain related projects with an effort to provide different value-added services as well as boost their customer base.
Various factors are fuelling the global blockchain in telecommunication and post service market growth. As per the recent MRFR market estimates, such factors include the increasing use during COVID-19 pandemic, investments in experimental frameworks, prototype, and startups, security which the technology offers, advances in blockchain technology resulting in the development of a secure digital platform for payments as well as other transactions, ongoing development of transactional processing, new entrants setting up start-ups dedicated to improve several facets of blockchain technology for usage in post services and telecommunication, and the emergence of blockchain technology for various communication-based capabilities like phone calls and internet connectivity.
On the contrary, high initial price related to such integration may limit the global blockchain in telecommunication and post service market Share over the forecast period.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global blockchain in telecommunication and post service market based on service providers, application, organization size, digital service, and platform.
- By service providers, the blockchain in telecommunication and post service market is segmented into middleware provider, application and solution provider, and infrastructure and protocol provider. Of these the application and solution provider will lead the market over the forecast period.
- By application, the blockchain in telecommunication and post service market is segmented into network management, reporting and analytics, billing/OSS, payment and transaction, smart contracts, and others. Of these, payment and transaction will dominate the market over the forecast period.
- By organization size, the blockchain in telecommunication and post service market is segmented into large enterprises & small and medium enterprises. Among these, the small and medium enterprises will spearhead the market over the forecast period.
- By digital service, the blockchain in telecommunication and post service market is segmented into digital asset transaction, voice/data services, identity-as-a-service, value added services, managed services, and content services. Of these, digital asset transaction will have the lions share in the market over the forecast period.
- By platform, the blockchain in telecommunication and post service market is segmented into IOTA, ethereum, hyperledger, hydrachain, open chain, and IBM blockchain. Of these, the ethereum segment will sway the market over the forecast period.
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Regional Analysis
By region, the global blockchain in telecommunication and post service market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. Technological advances, the presence of well-developed infrastructure, and the presence of leading market players and startups are adding to the global blockchain in telecommunication and post service market in the region. The US holds the utmost share in the market and is likely to grow at a 58.9% CAGR by 2023.
In Europe, the blockchain in telecommunication and post service market is predicted to hold the second-largest share over the forecast period. It is likely to develop at a 61.5% CAGR by 2023. Germany holds the utmost share in the market.
Key Players
The notable players profiled in the blockchain in telecommunication and post service market report include Coinbase (U.S.), Blockchain Tech Ltd (U.S.), SAP SE (U.S.), Bitfury Group (The Netherlands), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Earthport Plc (U.K.), Juniper Networks Inc (U.S.), Accenture Plc (U.S.) and Atos SE (France).
Industry Updates
March 2021- iQSTEL has announced mobile number portability application blockchain platform.
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