A report ensures that the annual growth of blockchain technology in the area of ​​communications is at least 77.9%

According to a recent report issued by the prestigious commercial market research company, Research and Markets, global applications based on blockchain technology oriented to the world of telecommunications could generate large profits in the next five years.

The report, published on Tuesday, April 2nd, is called: “Global Blockchain in Telecom Market Forecast up to 2024” and details an exhaustive study, recently made by the Research and Markets company, about the future of blockchain technology in the world of global telecommunications.

The company responsible for making the report ensures that the adoption of blockchain technology will be staggered with an annual rate close to 77.9%. As it would produce a profit of approximately 1.37 billion US dollars for the year 2024.

The research projects the use of blockchain technology as a significant and necessary advance that will have an increase in projection, as well as it will participate in the development of new methods of communication and sending vital information for public and private networks.

 It is also mentioned that the most prominent advances will be focused on the main sectors such as protection and security, implementation of the 5G network, information fraud management, Hyperledger, among other important blockchain consortiums such as the Carrier Blockchain Study Group (CBSG).

Similarly, the report also mentions other important companies that will be important agents in this telecommunications market. The document explains how would be the fusion with blockchain solutions. Among the main companies there are: IBM, AWS, Huawei, Clear, Guardtime, Microsoft, and others.

Research and Markets would have already mentioned, a few years ago, that the growing industry of blockchain technology would contribute an approximate of 1 billion dollars to global telecommunications by the year 2021, as well as it would also bring about a net profit of 46.6 million dollars per year.

Other Growth Reports

Among other reports, it is also known that the company has predicted that, also by 2024, the global market for cryptocurrency ATMs would grow 46.6% per year, generating commercial traffic in cryptocurrencies equivalent to 183.7 million dollars. This would show an important growth with respect to the year 2018, when only 18 million dollars were generated.

In this recent report from the leading market research company it is assured that Europe and the United States would be the main contributors in the correct and early adoption of these alternative technologies, in addition to playing a fundamental role for its development.

On the other hand, also in China, the blockchain technology is having a great advance and growth, taking important roles in the global cryptocommerce and assuming important initiatives directed to the technology oriented to the industrial sector.

According to some local statistics, the Asian country has created about 263 projects oriented to blockchain technology and cryptocurrencies. This supposes 25% of all the world-wide investigation develops in this matter.

By María Victoria Rodríguez


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