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Blockchain in Telecommunication and Post Services Market Overview
Blockchain in Telecommunication and Post Services Market Size was prized at USD 0.5212 Billion in 2022. The Blockchain in Telecommunication and Post Services market industry is projected to grow from at USD 5.896 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 30.9% during the forecast period (2022 - 2032).
The use of blockchain technology in the telecommunications and post services industry can bring several benefits, including secure data management, optimized supply chains, and simplified business processes through smart contracts. Blockchain technology has additional prospects in this industry because to the growing number of IoT devices. The demand for effective and transparent solutions, regulatory compliance, and safe data management are the main factors propelling the market's expansion. Moreover, increasing demand for secure and convenient digital payments propel the market growth. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2022- SpiderOak and Lockheed Martin Space have formed a collaboration to explore the intersection of space cybersecurity and blockchain technology, with the goal of developing innovative solutions to protect space-based assets and systems from cyber threats.
Global Blockchain in Telecommunication and Post Services Market is highly concentrated with various players offering unique solutions based on the prominent technology. Opportunities in identity management, supply chains, and border shipping can drive the demand for the technology during the forecast period.
- Cumulative Growth Analysis
- By Service Providers
- By Application
- By Organization Size
- By Digital Services
- By Platform
The COVID-19 pandemic has pushed the need for blockchain technology that can be used in connecting users on a digital platform. Its critical use in ensuring safe transactions digitally is seen as a positive indicator of the technology. Features of immutability, decentralization, and transparency can drive its integration into government systems for containing the spread of the virus and reopening its borders. For instance, the U.S. Customs and Border Protection can use blockchain for protecting intellectual property rights of American importers from data theft. On the other hand, the high influx of mail-in voting during the U.S. elections has also induced the need for a blockchain supported platform. The patent filed by the USPS has developed a case use for fraud-proof conduction of elections.
Key Companies in the Blockchain in Telecommunication and Post Services Market
- Atos SE (France)
- Accenture Plc (U.S.)
- Juniper Networks Inc (U.S.)
- Earthport Plc (U.K.)
- Microsoft Corporation (U.S.)
- IBM Corporation (U.S.)
- Bitfury Group (The Netherlands)
- SAP SE (U.S.)
- Blockchain Tech Ltd (U.S.)
- Coinbase (U.S.)
In November 2023- SK Telecom introduced T Wallet for Web3, integrating Aptos' DApp ecosystem and MoveVM blockchain tech, enhancing user experiences and driving innovation in the telecom industry. This collaboration unites T Wallet's convenience and security with Aptos' robust blockchain capabilities, setting the stage for groundbreaking Web3 services. By teaming up with Aptos and Atomring, SK Telecom takes a significant step towards leading the future of telecom.In Jan 2023- EMG, a Web3 company, launched a blockchain-based telco super app, leveraging Emeldi Group's expertise and resources to rapidly expand in the telecom industry. EMG aims to revolutionize the sector with innovative, enterprise-grade products and services, building on Emeldi's 20-year legacy of serving institutional clients. This collaboration combines EMG's cutting-edge technology with Emeldi's vast experience, positioning them to lead the next generation of telecom services.In November 2020- Tech Mahindra and Subex have partnered to promote the adoption of blockchain technology in the telecom industry, aiming to reduce fraud and increase operational efficiency for communication service providers.
Blockchain in Telecommunication and Post Services Market Segmentation:
By Service Providers
- Infrastructure and Protocol Provider
- Application and Solution Provider
- Middleware Provider
- Smart Contracts
- Payment & Transaction
- Reporting and Analytics
- Network Management
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
By Digital Service
- Content Services
- Managed Services
- Value Added Services
- Voice/Data Services
- Digital Asset Transaction
- IBM Blockchain
- Open Chain
|Market Size 2022
|USD 0.5212 Billion
|Market Size 2032
|USD 5.896 Billion
|Compound Annual Growth Rate (CAGR)
|Market Forecast Period
|Market Forecast Units
|Value (USD Billion)
|Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
|By Service Providers, By Organization Size
|North America, Europe, Asia Pacific, and the Rest of the World
|The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
|Key Companies Profiled
|IBM Corporation, Microsoft Corporation, Juniper Networks Inc, Coinbase, SAP SE, Atos SE, Blockchain Tech Ltd, Earthport Plc, Bitfury Group, Accenture, Plc.
|Key Market Opportunities
|Opportunities in identity management, supply chains, and border shipping can drive the demand for the technology during the forecast period.
|Key Market Dynamics
|Features of immutability, decentralization, and transparency can drive its integration into government systems for containing the spread of the virus and reopening its borders
Blockchain Telecommunication Post Services Market Highlights:
Frequently Asked Questions (FAQ) :
The market is likely to reach a valuation of USD 5.896 Billion by 2023-2032
2022 to 2032 is the growth period for the expansion of the market.
The leaning toward digital payment modes and amplified demand for digital services are boosting the adoption of blockchain in the telecommunication sector.
North America is going to be the fastest growing region in the matter of market shares
IBM Corporation, Microsoft Corporation, Juniper Networks Inc, are the key players involved in the growth of the market.
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