Blockchain is a peer-to-peer distributed ledger that enables trusted and open exchanges through the internet without the requirement of central servers or independent trusted authority. It facilitates verifiable, protected, and transparent digital asset transactions with both proof of rights and ownership. This has resulted in increased application of blockchain in post service and telecommunication sector. The need to lower costs, bring in new revenue streams, and extend competitive digital services are driving the demand for blockchain in telecommunication and post service significantly. The inclination of the telecommunication and post service industry towards adopting digitalized transformation act as a major driving force for the development of the blockchain in telecommunication and post service industry. In 2017, the market value for blockchain in telecommunication and post services was more than USD 39 Mn. The market is expected to grow at 59.3% CAGR over the forecast period 2017 to 2023. By the end of 2023, the blockchain in telecommunication and post services market is estimated to reach a value of more than USD 641 Mn.
Incorporation of blockchain in telecommunication and post services assists in propelling the growth of several business processes. Blockchain is considered as a revolutionary technology for handling telecommunication operations such as identity management, billing, payments, transactions, and roaming. Surged demand for digital services is further encouraging the adoption of blockchain in the telecommunication sector. Furthermore, acceptance of crypto currencies on a larger scale has opened new avenues for blockchain. However, integration concerns associated with prevailing system and application are problems that are yet to be fully addressed.
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The global blockchain in telecommunication and post services market is segmented into service providers, organization size, digital services, platform, region, and application. Service providers are sub segmented into application, solution provider, middleware provider, protocols providers, and infrastructure. The solution provider and application segments are projected to expand at 60.6% CAGR over the forecast period. Based on organization size, the market is segmented into large enterprise and SME. SME is likely to be the swiftest growing segment while developing at a CAGR of 61.3% during the forecast period. Based on digital services the market is been segmented into digital asset transaction, voice/data services, content services, value added services, managed services, and identity-as-a-service. The digital asset transaction segment is likely to grow at 60.4% CAGR. Based on platform, the market is segmented into Hyperledger, IOTA, Ethereum, Openchain, IBM Blockchain, and HydraChain. Ethereum is one of the leading segments in the market. Based on application, the market is segmented into payment & transaction network management, smart contracts, reporting and analytics, billing/OSS, and others. Payment & transaction segment is estimated to generate revenues worth USD 174.1 million over the forecast period.
The North America market is leading the demand for integration of blockchain in telecommunication and post services followed by the Asia Pacific and Europe market. The North America market is witnessing increased technological progressions coupled with prospering infrastructure. U.S. dominates the North America market and generated a market value of USD 7.6 million in 2017, which was followed by the Canada market generating a revenue of USD 4.4 million. Over the forecast period, the North America market is likely to expand at 58.9% CAGR. The Europe market holds the second position globally driving the demand for integration of blockchain in telecommunication and post services. The rest of the Europe market was accountable for a turnover of USD 3.9 million during 2017. The market is projected to develop at 59.9% CAGR over the forecast period.
The key players dominating the global blockchain in telecommunication and post services market include brands such as Microsoft Corporation, IBM Corporation, Coinbase, Juniper Networks Inc, Atos SE, SAP SE, Earthport Plc, Blockchain Tech Ltd, Accenture Plc., and Bitfury Group.
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List of Figures
FIGURE 1 GLOBAL BLOCKCHAIN IN TELECOMMUNICATION AND POST SERVICES MARKET: MARKET STRUCTURE
FIGURE 2 KEY TAKEAWAYS OF THE BLOCKCHAIN IN TELECOMMUNICATION AND POST SERVICES MARKET
FIGURE 3 NORTH AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023)
FIGURE 4 EUROPE MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023)
FIGURE 5 ASIA-PACIFIC & MARKET SHARE BY COUNTRY (2017 VS 2023)
FIGURE 6 REST OF THE WORLD MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023)
FIGURE 7 RESEARCH PROCESS OF MRFR
FIGURE 8 TOP DOWN & BOTTOM UP APPROACH
FIGURE 9 DRIVERS, OPPORTUNITIES AND RESTRAINT ANALYSIS OF GLOBAL BLOCKCHAIN IN TELECOMMUNICATION AND POST SERVICES MARKET
FIGURE 10 VALUE CHAIN: BLOCKCHAIN IN TELECOMMUNICATION AND POST SERVICES MARKET
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