The global blockchain in telecommunication and post services market size is witnessing a huge uptake across various sectors owing to which the blockchain in telecommunication and post services market may register a valuation of USD 641 million by 2023 rising from a mere USD 39 million in 2017. Market Research Future (MRFR) revealed details of various factors that can make sure the market grows at high speed. These factors are rapid permeation of blockchain in telecommunication market, easy integration of blockchain in the post services market, demand for security, hike in investment, and others.
The global market report encompassing details of the blockchain in telecommunication and post services market includes a study of segments like service providers, applications, digital services, organization size, and platform. MRFR analysts dug deep to get close to factors inspiring each section.
By application, the blockchain in telecommunication and post services market includes network management, billing/ OSS, reporting & analytics, and others.
By organization size, the blockchain in telecommunication and post services market report includes large enterprises and small & medium enterprises.
By digital services, the report on the blockchain in telecommunication and post services market comprises a study of digital asset transactions, voice/data services, value-added services, identity-as-a-service, content services, and managed services.
By platform, the study on the blockchain in telecommunication and post services market encompasses Ethereum, Hyperledger, HydraChain, open chain, IBM blockchain, and IOTA.
By service providers, the review of the blockchain in telecommunication and post services market comprises application & solution provider, infrastructure & protocol provider, and middleware provider.
North America would do well in the blockchain in the telecommunication and post services market as the US and Canada are spending huge amounts to back the growth. Europe will also do well with research institutes increasing their involvement.
IBM Corporation, Coinbase, Microsoft Corporation, SAP SE, Juniper Networks Inc, Earthport Plc, Bitfury Group, Atos SE, Blockchain Tech Ltd, Accenture Plc., and others are some of the prominent names inspiring changes in the global blockchain in telecommunication and post services market. MRFR analysts have tracked the latest activities of these companies to get a holistic picture of how the market is benefiting from changing trends and how growth pockets are churning up revenues. Such studies would help in forming effective strategies that can be used to increase the profit margin. Methods generally include a merger, innovation, research funding, acquisition, branding, collaboration, and others.
In August 2020, ICONLOOP, one of the leading South Korean blockchain technology company, announced that Jeju Island, which is also known as a prominent domestic tourist destination, will apply its Decentralized Identity (‘DID’) blockchain technology to offer private, secure COVID-19 contact tracing. The island attracts almost 15 million annual visitors and this technology will help in charting a proper plan of action. ICONLOOP and the Jeju Special Self-Governing Province have inked a deal regarding cooperation to launch this innovative COVID-19 as an infectious disease prevention system. Visitors will are expected to check in to tourist destinations and businesses on Jeju Island using a mobile app. Their data will be kept private unless there is a case of COVID-19.
In June 2020, Telefónica and Deutsche Telekom joined hands with other investors to take part in a $13 million Series A round of venture funding that will help Israel-based startup Clear. Clear is working efficiently to integrate blockchain technology into the global telecom industry. The aim is to use blockchain to erase or curb expenses involving financial interactions among various international telecom operators.
The global market for blockchain in telecommunication and post services is expected to gain significantly from the ongoing COVID-19 pandemic. This is for the surge in demand for online transactions and other digitalized procedures.
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