Blockchain in Media and Entertainment Market Size, Growth Factors and Upcoming Trends by 2024 End
- ehteshampeerzade
- Feb 18, 2021
- 3 min read
Market Highlights
The heightened growth of the blockchain has prompted development in the blockchain in media and entertainment market 2020. The information & communication technology industry reports are created by Market Research Future, which centers on market choices for expansion. A 32.94% CAGR is expected to ensure earning of income worth USD 1.54 billion in the forecast period.
The ability to ensure elimination of fraud is estimated to push the development of the blockchain in media and entertainment market. The need to automate transactions in the media and entertainment industry is expected to drive the market share of the blockchain in media and entertainment market in the forecast period.
Segmentation:
The segmental review of blockchain in media advertising and entertainment market is conducted on the basis of type, platform, application, organization size, and region. By types, the blockchain in media and entertainment market has been segmented into public, consortium, and private. On the basis of platform, the blockchain in media and entertainment market has been segmented into Hyperledger, Ripple, Bitcoin, MultiChain, R3 Corda, Ethereum, and others. The application basis of segmenting the blockchain in media and entertainment market comprises of license & rights management, royalty distribution, content security, smart contracts, digital advertising, payments, online gaming, and others. On the basis of organization sizes, the blockchain in media and entertainment market has been divided into large enterprises and SMEs. Based on the regions, the blockchain in media and entertainment market is segmented into North America, Europe, North America, and other regional markets.
Detailed Regional Analysis
The regional insight into the blockchain in media and entertainment market includes regions such as North America, Europe, North America, and other regional markets. The North American regional market holds the leading market portion owing to the increasing adoption of blockchain in media and entertainment in enterprises for ensuring improved employee engagement and workforce teamwork. In the North American countries studied, the US is responsible for the prime market segment owing to the increasing application of partnership tools within big enterprises as well as SMEs in the advertising sector. The European region was responsible for the next biggest market segment due to the increasing implementation of blockchain in media and entertainment solutions in the region’s countries. The Middle East, Africa, and South American region are projected to achieve a considerable market development with important players concentrated on capitalizing in this region to present blockchain in media and entertainment services to medium-sized and small enterprises.
Competitive Analysis
The market players are expected to contribute in a significant way to the progress of the market by investing capital and fortifying their assets along with their competencies, in the market to match the pulse of the market. The intensive attention focused on research and development activities is projected to open up new areas for the development of the market in the forecast period. The market is observed to be on a hot streak of expansion in the forecast period. The robust marketing activities undertaken by the contenders in the market are inspiring the next steps for market development in the forecast period. The improved backing by government and trade bodies are creating a favorable pace of growth in the market. The control of overhead costs is projected to motivate the market considerably in the forecast period. The customer inclinations are projected to define the growth of the global market more than ever in the coming years.
The noteworthy contenders in the blockchain in media and entertainment market are Microsoft Corporation, IBM Corporation, SAP SE, Auxesis Group, Accenture PLC, Oracle Corporation, Infosys Limited, Bitfury USA Inc., Amazon Web Services, BTL Group, Factom Inc., GuardTime, AS, Nyiax Inc., MetaX, Voise, and ClearCoin.
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