Blockchain in Media & Entertainment Market Size Worth USD 208.71 Bn by 2032
Zion Market Research has published a new report titled “Blockchain in Media & Entertainment Market, by Providers (Application, Middleware, Infrastructure), by Application (Licensing & Rights Management, Digital Advertising, Smart Contracts, Content Security, Payments, Online Gaming), by Enterprise Size (Large Enterprises, SMEs), and by Region: Global Industry Perspective, Comprehensive Analysis and Forecast,”. According to the report, the global blockchain in media, advertising, and entertainment market size is expected to reach USD 208.71 Bn from USD 0.55 Bn in 2022 — growing at a compound annual growth rate (CAGR) of 81.1% from 2023–2032.
In simple terms, Blockchain is a protected and encrypted digital database accessed by all parties within a distributed network. Every activity that takes place in the network will be registered, checked and stored in the database and will be available to all participants.
Blockchain can change many media and entertainment markets, but in particular those where participants will benefit from the protection and accountability that blockchain will provide, such as payment delivery, financing, monetization and enforcement of contracts.
Increasing Demand for Eliminating Intermediaries between Content Creators and End-Users is the major driving factor for the growth of blockchain in media and entertainment market. Also, the increase in awareness of Data Privacy in the Media, Entertainment, and Advertising Sectors and growing need for faster as well as secure transactions can boost the market growth over the forecast period. But, the lack of standardization can hamper the growth of blockchain in media and entertainment market.
On the basis of segmentation the blockchain in media & entertainment market is segmented by providers, application, enterprise size, and region. On the basis of providers the market is segmented as application, middleware, and infrastructure. Also, by application, it is segmented as licensing and rights management, digital advertising, smart contracts, content security, payments, online gaming, and by enterprise size it is segmented into large enterprises, SMEs. Lastly, on the basis of region it is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to have the largest market size in the global blockchain in media, entertainment, and advertising market, and also APAC region to grow higher in the forecast period.
The application provider segment is expected to grow in the forecast period as it helps the vendors to minimize the cost linked with contractual agreements. Also, the payment segmentation is expected to grow higher as blockchain technology makes real-time payments against properties with an immutable state and digital identity, resulting in transaction costs being reduced by 40–80 per cent.
The key players in global blockchain in media & entertainment market are -
- IBM Corporation
- Bitfury USA Inc.
- Amazon Web Services
- Microsoft Corporation
- Infosys Limited
- SAP SE
- GuardTime
- AS
- Oracle Corporation
- Accenture PLC
- Factom Inc.
The report segments the global blockchain in media & entertainment market into:
Global Blockchain in Media & Entertainment Market: Providers Segment Analysis
- Application
- Middleware
- Infrastructure
Global Blockchain in Media & Entertainment Market: Application Segment Analysis
- Licensing & Rights Management
- Digital Advertising
- Smart Contracts
- Content Security
- Payments
- Online Gaming
Global Blockchain in Media & Entertainment Market: Enterprise Size Segment Analysis
- Large Enterprises
- SMEs
Global Blockchain in Media & Entertainment Market: Regional Segment Analysis
- North AmericaThe U.S.Canada
- EuropeFranceThe UKSpainGermanyItalyRest of Europe
- Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
- Latin AmericaBrazilMexicoRest of Latin America
- Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa
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