(MENAFN- GetNews) Global Blockchain in Media and Entertainment Market report covers historical market trends, present market dynamics, market valuation by segmentation as well as region, level analysis of countries for each segment, key players market share analysis, competitive landscape, and supply chain analysis.
Based on type, the market is segmented into private, consortium, and public blockchains. Based on the platform, the market is segmented into Ripple, R3 Corda, Bitcoin, Ethereum, Multichain, Hyperledger and others. Based on organization size, the market is segmented into SME and large enterprise. Based on application, the market is segmented into license and rights management, content security, digital advertising, smart contracts, payments, online games, royalty distribution, and others.
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The blockchain market in media and entertainment is expected to reach USD 1.54 billion by the end of 2024. The market is expected to grow at a CAGR of 32.94% over the estimated period 2018-2024 . The growing adoption of blockchain technology by entertainment, advertising and media companies to re-engineer business processes such as digital advertising, payment management, royalty distribution, software license management content and content rights management, propels the growth of the market to a considerable extent. . The growing demand for eliminating content and data piracy and expanding faster and more secure transactions is also facilitating the implementation of blockchain in entertainment and media companies. Blockchain is a secure, immutable, distributed, and encrypted digital ledger to facilitate real-time transactions. Blockchain technology has the ability to convert multiple entertainment and media industry processes for royalty distribution, digital advertising, rights and license management, and content security. Also, blockchain technology facilitates micro-content or monetization in the entertainment industry. Consumers can categorize payments into smaller sizes based on content size, for example, fetching a single track from songs album with iTunes means. TV advertising and broadcast companies can control blockchain technology to create content acquisition, distribution rights, and content hosting through a distributed ledger. However, obtaining expertise and talent that better understands blockchain technology, interoperability between different blockchains, the time required to incorporate legacy systems, as well as the lack of standards governance issues related to blockchain technology are some of the major limitations that may restrain the market. growth over the next few years.
GlobalBlockchain in the media and entertainment marketis dominated by key players such as IBM Corporation, SAP SE, Microsoft Corporation, Accenture PLC, Amazon Web Services, Infosys Limited, Oracle Corporation, Factom Inc., Bitfury USA Inc., AS, GuardTime, Nyiax Inc., Auxesis Group , BTL Group, MetaX, ClearCoin and Voise.
The global blockchain in media and entertainment market is expected to grow at a substantial rate throughout the forecast period from 2018 to 2024. The geographical study of blockchain in media and entertainment market entertainment in North America (Mexico, Canada, United States), Europe (Italy, Germany, United Kingdom, Spain, France and rest of Europe), Asia-Pacific (Australia, Japan, China, Singapore, India and rest of Asia-Pacific) and rest of the world (South America and Middle East and Africa). Currently, North America accounts for the largest market share owing to the growing adoption of blockchain in media and entertainment among organizations for better workforce collaboration and engagement employees. Among the North American economies, the United States accounts for a significant share of the market owing to the increasing integration of collaboration equipment within SMBs as well as large companies in the advertising sector. Europe held the second-largest share of blockchain in the media and entertainment market when it comes to the adoption of blockchain in media and entertainment solutions in economies like Germany, the United Kingdom, Spain, Sweden, France and Italy. APAC accounted for the third largest market share and is expected to witness the highest growth owing to the adoption of blockchain in entertainment and media solutions in Japan, China, Australia, India, South Korea, Singapore and other Asian economies. The Middle East, Africa and South America market is expected to achieve significant market growth with renowned players focused on capitalizing on this market to expand blockchain in media and entertainment services to small and medium enterprises.
LIST OF PAINTINGS
Table 1 Global Blockchain in Media and Entertainment Market: By Country, 2019-2024
Table 2 North America: Blockchain in Media and Entertainment Market: By Country, 2019-2024
Table 3 Europe Blockchain in Media and Entertainment Market: By Country, 2019-2024
Table 4 Asia-Pacific Blockchain in Media and Entertainment Market: By Country, 2019-2024
Table 5 Middle East and Africa Blockchain in Media and Entertainment Market: By Country, 2019-2024
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LIST OF FIGURES
FIGURE 1 Global Blockchain in Media and Entertainment Market Segmentation
FIGURE 2 Forecasting methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Blockchain in Media and Entertainment Market
FIGURE 4 Global blockchain value chain in the media and entertainment market
FIGURE 5 Share of blockchain in the media and entertainment market in 2018, by country (in %)
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