Based on type, the market is segmented into private, consortium, and public block chain. Based on platform, the market is segmented into Ripple, R3 Corda, Bitcoin, Ethereum, Multichain, Hyperledger, and others. Based on organization size, the market is segmented into SMEs and large enterprises. Based on application, the market is segmented into license & rights management, content security, digital advertising, smart contracts, payments, online gaming, royalty distribution, and others.
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The block chain market in media and entertainment is likely to attain USD 1.54 bn by the conclusion of 2024. The market is estimated to develop at 32.94% CAGR over the estimation period 2018-2024. The increasing espousal of block chain technology by entertainment, advertising, and media firms in order to restructure business processes such as digital advertising, payment management, royalty distribution, content license management, and content rights management, are propelling the market growth to a considerable extent. Increasing demand for eliminating content and data piracy and extending faster and secure transactions also facilitate the implementation of block chain across entertainment and media firms. Block chain is a digital secure, immutable, distributed, and encrypted ledger for aiding real-time transactions. Block chain technology has the capability to convert several processes within the entertainment and media sector for royalty distribution, digital advertising, rights & license management, and content security. Besides, the block chain technology aids in micro-contents or monetization in the entertainment sector. Consumers can classify the payments into smaller sizes according to the content size, for example, fetching a single track out of the album of songs with the means of iTunes. Television advertising and broadcasting firms can control block chain technology to create content acquisition, distribution rights, and content housing through a distributed ledger. However, procuring expertise and talent that better comprehend block chain technology, interoperability among different block chains, time required for the incorporation of legacy systems, along with lack of governing standards related to block chain technology are some of the key limitations that may restrict the market growth over the coming years.
Global Blockchain in Media & Entertainment Market is 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 market for worldwide block chain in media and entertainment is projected to expand at a substantial rate throughout the forecast period from 2018 to 2024. The geographical study of block chain in media and entertainment market North America (Mexico, Canada, the US,), Europe (Italy, Germany, the UK, Spain, France, and the rest of Europe), Asia-Pacific (Australia, Japan, China, Singapore, India, and the rest of Asia-Pacific), and the rest of the world (South America and the Middle East and Africa). Presently, North America represents the largest market share owing to the increasing adoption of block chain in media and entertainment amongst organizations for improved workforce collaboration and employee engagement. Among the North American economies, the US represents a major share of the market on account of the growing incorporation of collaboration equipment within SMEs as well as large enterprises in the advertising sector. Europe held the second-largest share of block chain in media & entertainment market with respect to the propelling adoption of block chain in media and entertainment solutions in economies like Germany, the UK, Spain, Sweden, France, and Italy. APAC represented the third largest share of market and is likely to reach the largest growth owing to the adoption of block chain 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 predicted to attain a significant market growth with renowned players focused on capitalizing in this market to extend block chain in media and entertainment services to small- and medium-sized organizations.
LIST OF TABLES
Table1 Global Blockchain In Media And Entertainment Market: By Country, 2019–2024
Table2 North America: Blockchain In Media And Entertainment Market: By Country, 2019–2024
Table3 Europe Blockchain In Media And Entertainment Market: By Country, 2019–2024
Table4 Asia-Pacific Blockchain In Media And Entertainment Market: By Country, 2019–2024
Table5 Middle East & 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 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Blockchain In Media And Entertainment Market
FIGURE 4 Value Chain Of Global Blockchain In Media And Entertainment Market
FIGURE 5 Share Of The Blockchain In Media And Entertainment Market In 2018 , By Country (In %)
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