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Blockchain in Telecom Market to Grow 74.8% CAGR, Hit US$ 80 Billion by 2033

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Blockchain in Telecom Market to Grow 74.8% CAGR, Hit US$ 80 Billion by 2033

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The global blockchain in telecom market is set to garner US$ 80 billion by 2033, booming at 74.8% CAGR from 2023 to 2033.

The telecommunications industry is well-known for reinventing itself. Fixed landlines were the primary product of telecom companies in the initial periods; however, with the introduction of the mobile phone, this shifted to mobile subscriptions and SMS (Short Message Service). In past years, many telecom firms’ primary revenue source has shifted from calls to data, necessitating another shift in their business model. With every firm becoming a data organization, there are huge prospects for the telecommunications industry to reinvent itself once more, thanks to blockchain.

A blockchain is a public electronic ledger distributed to shareholders in a network that records all transactions between two or more parties. Telecom firms can use blockchain technology to improve data integrity, security, inspection, and fraud prevention.

One of the primary aspects driving market expansion is growing security concerns among telecom enterprises around the world. Blockchain in telecom offers greater security by encrypting all transactions with cryptography. Furthermore, the growing need for smart contracts is propelling market expansion. Blockchain is extensively utilized to automate the implementation of an agreement with preset conditions.

Moreover, technological improvements such as the incorporation of AI and the IoT with connected devices are boosting market expansion. These technologies allow smart devices to transmit data while also creating tamper-proof records of shared transactions. Other reasons, including the incorporation of blockchain solutions for the development of 5G technology and the expanding use of blockchain-centered mobile wallet payments, are expected to propel the market forward.

Key Takeaways from Market Study

  • The global blockchain in telecom market is valued at US$ 300 million in 2023.
  • The market is forecasted to surge ahead at a CAGR of 74.8% during the forecast period (2023 to 2033).
  • The market for blockchain in telecom is predicted to reach US$ 80 billion by 2033.
  • The North American market is estimated to expand at a CAGR of 46.02% from 2023 to 2033.
  • The smart contracts segment is expected to witness significant growth over the next ten years.

“Blockchain technology uses strong encryption to record & store data on networks in a more safe and verifiable manner. It makes the data transparent and tamper-proof. As a result, blockchain technology is predicted to assist various telecom firms in improving network security and lowering operational expenses,” says a Fact.MR analyst.

Competitive Landscape

The blockchain in telecom industry is highly consolidated with only a few major players providing blockchain solutions across the telecommunications industry. The vendors are also receiving funding from investors, which will aid in the development of innovative blockchain services.

  • Tech Mahindra and telecom analytics solutions supplier Subex collaborated in November 2022 to roll out blockchain-centered solutions worldwide for telecommunication operators. By reducing overall compliance difficulties, these solutions would reduce fraud and increase operational efficiencies for communication service providers (CSPs).
  • Trai planned to introduce new blockchain technology to limit spam calls and texts in November 2022 in partnership with TSPs. The organization is developing several technologies, including blockchain technology, to identify spam calls and texts. In addition, the regulator is forming a joint committee of regulators (JCOR) comprised of Trai (the Telecom Regulatory Authority of India), MoCA (the Ministry of Consumer Affairs), SEBI (the Securities and Exchange Board of India), and RBI (the Reserve Bank of India).

Regional Analysis

North America is leading the global blockchain in telecom market. The United States is contributing substantially to the regional market due to the presence of major blockchain technology providers in the country. Moreover, Asia Pacific and Europe are following North America in terms of development.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global blockchain in telecom market, presenting historical demand data (2018 to 2022) and forecast statistics (2023 to 2033).

The study divulges essential insights on the market on the basis of provider (infrastructure providers, application providers, middleware providers) and application (OSS/BSS processes, identity management, payments, smart contracts, connectivity provisioning, other applications), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

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Public Cloud-Based Telecom Cloud Market to Register a CAGR of over 15.2% in the Next Decade

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The Telecom Cloud Market revenues were estimated at US$ 19.8 Bn in 2021 and are anticipated to grow at a CAGR of 15.2% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 24 Bn. The market is projected to gross 15.2% CAGR through the public cloud.

During the pandemic, as individuals lived at home during the shutdown and businesses opted to work remotely, massive data consumption led to a spike in demand for telecom cloud installations, which significantly contributed to the market growth. Cloud has been one of the key themes of conversation in the telecom business in 2021 with the development of cloud-native 5G technology.

The public cloud solution provides on-demand infrastructure, lowering capital expenditure as well as continuous operational and life-cycle control. The public cloud may be a terrific incubator environment for not just developing new apps and services, but also bringing them to market and scaling them quickly.

Many corporate firms rely on the public cloud as their base. Telecom companies are increasingly looking to collaborate using public cloud services to use their computational capacity and use their strong network skills on the back end.

Hyperscalers such as Amazon, Google, Microsoft, and Oracle often establish and manage a uniform tech environment with public cloud platforms. CSPs, on the other hand, buy solutions from a variety of vendors who compete and advance in different directions, sometimes marginally, sometimes significantly.

Also, The BFSI sector outsources non-core functions to save money and enhance efficiency. As a consequence, targeted content views and precise financial data are required, which may be merged via a telecommunications cloud service.

Region-Wise Analysis

With a revenue share of more than 40% in the global telecom cloud market in 2021, North America held the top spot. American businesses place a high value on digitization and are more frequently seen as early adopters of cutting-edge technologies like the Internet of Things, additive manufacturing, big data analytics, connected businesses, intelligent systems, AR, ML, and VR, as well as the most recent telecommunications technologies like 4G, 5G, and LTE.

Category Insights

The public cloud category is anticipated to increase at a CAGR of around 15.2% between 2022 and 2032. Utilizing the public cloud is a path of technology advancement, organizational modifications, and service evolution.

The development of public cloud technology and wider cloudification initiatives is a key enabler for the digital telecom industry. Due to operational improvements in cloud efficiency, CSPs can promote service convergence by judiciously integrating disparate internal processes.

Competitive Landscape

The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Telecom Cloud Market are focused on R&D to produce innovative technological solutions.

  • In April 2021, Momentum Telecom, a global provider of managed network and cloud voice, revealed that it had accomplished its purchase of Atlus Technology, a Tennessee-based leader in the development of cloud-based unified communications solutions.
  • In December 2020, Cisco announced the purchase of IMImobile, a cloud telecommunications software and service provider, allowing Cisco to provide its customers with an end-to-end client engagement management solution.
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Wireless Telecommunication Services Market is Estimated to Register a Strong CAGR of 7.5% CAGR from 2022-2032

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The worldwide wireless telecommunication services market size is assessed to arrive at US$ 1309.7 Million by 2022. Besides, with the rising use of wireless telecommunication services across different businesses, the general interest for wireless telecommunication services is ready to develop at a solid CAGR of 7.5% somewhere in the range between 2022 and 2032, adding up to around US$ 2705.6 Million by 2032.

The telecommunications services industry is among of the quickest developing ventures in the business world. Wireless telecommunications services are presented by telecommunications services suppliers to send and get messages through electronic gadgets and a wireless medium.

Services incorporate paging, messaging, and getting to the web through cell phones, email, and other satellite wireless telecommunication services. Telecommunications services have a strong worldwide market presence, with the wireless services fragment containing a huge piece and having the greatest open door in the gauge period.

Wireless telecommunications services have demonstrated exceptionally gainful for organizations as they work with compelling correspondence with their clients and help organizations to lay out a solid relationship with their clients. Wireless telecommunications services are likewise valuable for workers and clients as they empower simple transmission of information and give effectiveness and adaptability to convey.

The cell phone, a vital use of quickly developing wireless telecommunication, incorporates a broad scope of capabilities and applications. A few impediments related to the wireless telecommunications services market are security issues and hardware costs among others.

Drivers and Challenges

With the increasing adoption of advanced technology-based solutions and services, organizations are opting for IoT in order to make their operation more efficient, and easy to access. Infrastructural advancement from smart homes to various other hospitality renovations showcases the potential for the application of wireless telecommunication services.

Enterprises deploying digital solutions and seeking services that are cost-effective and more accurate is among the other factor which is expected to drive the growth of the global wireless telecommunication services market.  Innovation through partnerships among various sectors is expected to fuel the growth of the global wireless telecommunication services market during the forecast period.

The rising adoption of smartphones and apps offering mobile services is anticipated to drive growth in revenue in the global wireless telecommunication market during the forecast period. Consumers opting for wireless connections rather than landlines are among the trends in the global wireless telecommunication market. Enhanced speed of wireless connections at affordable prices continues to encourage the adoption of wireless telecommunication services among the population.

Global Wireless Telecommunication Services Market: Regional Outlook

Based on the geographic region, the wireless telecommunication services market is divided into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia-Pacific excluding Japan, and the Middle East & Africa. North America held the largest revenue share in the wireless telecommunication market followed by Europe, and the Asia Pacific owing to major technology providers based out in this region, and easy adoption of these technologies by the population in the regions.

The other nations in Japan, the Middle East, Africa, and Latin America hold significant potential for growth in the wireless telecommunication services market rising demand for wireless telecommunication services owing to the better convenience of using wireless technology. Moreover, advancements in telecommunication services with better connectivity and bandwidth are some of the factors which strengthen the growth of the wireless telecommunication services market throughout the forecast period.

Who are the Key Players in the Global Wireless Telecommunication Services Market?

Some of the key players in the wireless telecommunication services market are Intelsat SA, AT&T, Inc., T-Mobile USA, Inc., Iridium Communications Inc., NTT DOCOMO Inc., Softbank Telecom Corp., China Mobile Limited, Hawaiian Telcom, U.S. Cellular, New-Cell, Inc, dba Cellcom, and Rogers Communications among others. The leading providers of wireless telecommunication services are continuously focusing on improving their services and bandwidth. They have adopted various strategies such as partnerships, collaborations, acquisitions, and mergers to gain a competitive edge in the market.

  • In March 2022, Intelsat and Marlink extended their partnerships to increase bandwidth capacity for maritime customers.
  • In January 2022, TeleYemen teamed with telXira to provide wholesome SMS services in Yemen.
  • In May 2022, T Mobile launched 5G advanced network solutions to give enterprises the 5G performance needed to deliver optimum results and exciting new customer experiences.

How Start-ups Are Adding Value to the Global Wireless Telecommunication Services Market?

Amid increasing opportunities in the wireless telecommunication services industry, new companies are entering the market. They are making moves to increase their revenue share. For instance,

  • Reliance Jio, a telecommunications firm founded in 2007 by Mukesh Ambani, that provides high-speed mobile internet connections has become one of the leading telecom companies in India. The company is continuously launching new wireless telecommunication services at affordable prices. For instance, the company launched a Pan-India VoWiFi service in 2020 to enable users to make voice and video calls using WiFi networks without any additional charges.
  • In 2020, US-based startup Mangata Networks was started to enable satellite-based 5G communication. The company facilitates 5G communication through its proprietary network of satellites and terrestrial systems.

Similarly, start-ups like i2e1 are striving hard to make wireless telecommunication services available to people living in far-flung areas.

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Top 5 trends transforming telecom network infrastructure market outlook

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The telecom network infrastructure industry landscape is evolving rapidly as 5G deployment efforts garner momentum. Across various countries, the respective governments are focusing on advancing progress towards the commercialization of 5G services. Earlier this year in June, for instance, the Joe Biden Administration announced a US$65 billion investment for deploying highspeed universal 5G broadband infrastructure across the U.S.

The rise in IoT and connected devices is expected to provide significant growth momentum to the telecom network infrastructure industry. With a notable uptick in wireless connections, the demand for greater broadband coverage and improved cellular connectivity is increasing. To meet this demand telecom operators are upgrading their network infrastructures. Ongoing smart city developments will create additional opportunities for operators in the next few years.

The global telecom network infrastructure market size is projected to reach US$120 billion by 2027, says Global Market Insights, Inc. Highlighted below are some major factors driving the industry forward.

1. Rapid 5G deployment in Europe

As the demand for seamless broadband connectivity rises, European countries are witnessing strong collaborations among telecom operators. For example, in October last year, 5G technology company Airspan Networks had partnered with network infrastructure company Siticom GmbH to deliver 5G wireless services to automotive, healthcare, manufacturing, and other sectors in Germany. With similar efforts in other nations, Europe telecom network infrastructure industry size is estimated to be worth US$25 billion by 2027.

2. Active efforts by telecom operators

The number of internet users and wireless connections have surged exponentially over the past several years. Telecom operators are gearing up to meet the increasing demands of cellular users by continuously upgrading their network infrastructures. As a result, telecom operators hold a fair share in the telecom network infrastructure market. The deployment of 5G, which promises greater speeds, ultralow latency, and seamless connectivity, will open up new opportunities for operators worldwide.

3. Growing deployment of femtocell base stations

The need for improved indoor network coverage in urban areas is rising steadily due to the wider adoption of smart home devices. Advancements in IoT and connected devices is further making seamless coverage essential in indoor locations. Based on these factors, the demand for femtocell base stations is likely to grow at 5% CAGR in the telecom network infrastructure industry. Femtocells are deployed in areas where a backhaul can be developed without any difficulty or where a network backhaul is already present.

4. Emerging need for integration & deployment services

Integration and deployment services are in demand globally as they help maintain performance, resiliency, and availability. Moreover, these services ensure an always-on, secure, scalable, and multi-technology network across businesses. They also help enterprises gain greater RIO via network planning, optimization, and multi-vendor network integration. In 2020, integration and deployment services captured 50% of the telecom network infrastructure market share.

5. Increasing market competition

Huawei Technologies Co., Ltd., Cisco Systems, Inc., CommScope, Inc., Ciena Corporation, Inc., Ericsson, and Nokia Networks are some of the top telecom network infrastructure companies in the world. To meet the changing connectivity requirements, these companies are upgrading their RAN network offerings via partnerships and other strategies. Highlighting an instance, in March 2020, Airspan and Altiostar signed a partnership to commercialize 4G and 4G open virtualized RAN network solutions. While established companies look to boost their market presence, the emergence of new entrants in the telecom network infrastructure industry will further heat up the competition.

Source: Global Market Insights Inc.