Global Blockchain applications in telecommunications generate $ 1.37 billion in 2024: report

Global blockchain applications in telecom will generate $ 1.37 billion in revenue by 2024, according to a press release from Research and Markets that was published on April 2.

The report, which until 2024 & # 39; Global Blockchain in the market forecast of telecom companies & # 39; is said, says the Irish market research store Research and Markets predicts that blockchain adoption in the telecom sector will lead to a compound annual growth rate (CAGR) of 77.9 percent over the forecast period.

According to the report, the telecoms blockcha growth will be based on a number of key factors, including increasing security issues, fraud management demand, 5G implementation, as well as an increasing number of blockchain consortia such as Hyperledger, Carrier Blockchain Study Group (CBSG), and others.

Research and markets previously predicted that by 2021, blockchain will contribute about $ 1 billion to the telecom sector, at a price of $ 46.6 million in 2018.

Recently, Research and Markets predicted that the global crypto-ATM market will grow with a CAGR of 46.6% to $ 183.7 million in 2024, from $ 18 million in 2018. In the report published at the end of March 2019, The authors claimed that North America and Europe had a significant market share in the early application of the technology.

Earlier today, Cointelegraph reported that China has become the leading country in terms of the number of blockchain initiatives. According to local sources, the existing 263 blockchain-related projects in China are responsible for 25 percent of the global total.

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