A new report by Reports and Data predicts that the global Blockchain In Telecom Market will reach USD 2.52 billion by 2028. In the telecom industry, blockchain technology can be used to protect and secure data transfer, assess data integrity, and prevent fraud, among other things. Blockchain can also provide support and maintenance for Operational Support Systems/Business Support Systems Procedures in telecommunication companies. However, the lack of common standards and unclear regulatory norms around blockchain technology in the telecom sector may act as a restraint for this emerging market.

North America is expected to be the key revenue generating region for blockchain in the telecom market and is projected to grow at a CAGR 31.04% during the forecast period. According to a survey by the World Economic Forum, 10% of the world GDP would be stored on blockchain by the year 2027.

To download a PDF sample copy of the report, visit @ https://www.reportsanddata.com/download-free-sample/1125 

The report suggests that the application solutions and services provider segment will experience the highest growth rate of CAGR 31.1%, as blockchain technology has seen widespread acceptance amongst worldwide telecommunication companies. The connectivity facilities segment is also predicted to have a higher growth rate of CAGR 31.01%, as blockchain technology supports telecom vendors in facilitating connectivity tasks like 5G network services, IoT devices connectivity, and M2M connectivity.

Driving factors of Blockchain In Telecom Market

1. The need for secure data transfer, data protection, data assessment, data integrity, and scam deterrence in the global telecom sector.
2. The necessity for support and maintenance provided by blockchain technology for Operational Support Systems/Business Support Systems Procedures in telecommunication companies.
3. The potential to facilitate connectivity undertakings such as 5G network services, IoT devices connectivity, and M2M connectivity.
4. The acceptance and adoption of blockchain technology by telecommunication companies globally.
5. The increasing demand for blockchain applications, solutions, and services in the telecom sector.
6. The expected growth of the global economy stored on blockchain technology.
7. The advanced technology and infrastructure present in North America, which is the key revenue generating region for blockchain in the telecom market.

Some of the notable innovations in the Blockchain In Telecom Market

1. Hyperledger Fabric: This is an open-source blockchain technology that is being used by some telecommunication companies for various use cases, including supply chain management, digital identity, and payment processing.

2. Carrier Blockchain Study Group (CBSG): CBSG is a global consortium of telecommunication companies that are developing blockchain-based solutions for the telecom industry, including identity and settlement systems.

3. Telefonica's TrustOS: This is a blockchain-based operating system developed by Spanish telecom company Telefonica. TrustOS is designed to enhance the security and privacy of user data and enable new revenue streams for telecom operators.

4. AT&T's blockchain solutions: AT&T has developed several blockchain-based solutions for the telecom industry, including supply chain management, identity management, and billing and payments.

5. Telstra's secure data sharing platform: Australian telecom company Telstra has developed a blockchain-based platform that allows secure and transparent data sharing between multiple parties in the telecom ecosystem.

Key participants include

IBM (US), AWS (US), Guardtime (Netherlands), SAP (Germany), Microsoft (US), Bitfury (UAE), Cegeka (Netherlands), Clear (Singapore), Reply (Italy), and Oracle (US).  

To know more about the report @ https://www.reportsanddata.com/report-detail/blockchain-in-telecom-market 

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