Blockchain in Media and Entertainment Market Size, Share, Trends, Business Strategies, Revenue, Leading Players, Opportunities and Forecast 2027
The global market for blockchain in media and entertainment is estimated to reach USD 1.54 billion by 2024. It can score a 32.94% CAGR during the forecast period. The adoption of the blockchain technology by media and entertainment companies for streamlining of various business processes is likely to drive market growth. Rise of content privacy, royalty payments, and intellectual property disputes can influence its integration in the media and entertainment industry as well.
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.
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By type, the market has been segmented into public, private, and consortium.
By platform, the market has been segmented into Bitcoin, Ripple, Ethereum, R3 Corda, Hyperledger, MultiChain, and others.
By organization size, the market has been segmented into large enterprises and SMEs.
By application, the market has been segmented into smart contracts, payments, royalty distribution, content security, license & rights management, digital advertising, online gaming, and others.
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.
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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Global Blockchain in Media and Entertainment Market: by Type (Public, Private, Consortium), by Platform (Bitcoin, Ripple, Ethereum, R3 Corda, Hyperledger, MultiChain and others), by Organization Size (Large Enterprises and SMEs), by Application (Content Security, License & Rights Management, Smart Contracts, Payments, Digital Advertising, Royalty Distribution, Online Gaming and others), by Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2024
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