Blockchain in Media and Entertainment Market Growth Rate and Future Trends

Posted by Ehtesham Peerzade on March 16th, 2021

Market Highlights

The high rate of adoption of blockchain technology across the media and entertainment industry that allows streamlining of its business processes is expected to intensify the global blockchain in media and entertainment market, states Market Research Future (MRFR). MRFR reveals that the global blockchain market in media and entertainment market is likely to strike a 32.94% over the forecast period (2018-2024) and can scale to a valuation of USD 1.54 billion by 2024.

Industry News

August 2019

BlockApps, a blockchain platform provider announced its partnership with Tech Mahindra Ltd to help in the accelerated adoption of blockchain business networks. This could result in revolutionizing business re-engineering solutions. BlockApps STRATO, the first BaaS platform provider, enables blockchain solutions across different industry verticals.

Market Insights

The growing need for media content security due to an increase in incidences of piracy is expected to boost the global blockchain in media and entertainment market. The deep penetration of digitalization is benefiting the media and entertainment industry of which, advertising is a prominent segment. The rising significance of digital advertising is expected to encourage the growth of the global blockchain in the media and entertainment market. Blockchain technology can help in streamlining business transactions made in the media and entertainment industry that is likely to encourage the market growth.

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Segmentation:

The blockchain in media and entertainment market has been segmented on the basis of type, platform, organization size, and application.

Based on the type, the global blockchain in media and entertainment market has been segmented into private, public, and consortium.

Based on the platform, the global blockchain in media and entertainment market has been segmented into Bitcoin, Ethereum, Ripple, R3 Corda, MultiChain, Hyperledger, and others.

Based on the organization size, the global blockchain in media and entertainment market has been segmented into SMEs and large enterprises.

Based on the application, the global blockchain in media and entertainment market has been segmented into smart contracts, payments, license & rights management, content security, digital advertising, online gaming, royalty distribution, and others.

Regional Outlook      

Regionally, the global blockchain in media and entertainment market has been analyzed across North America, , Asia Pacific, Europe, and the Rest of the World (RoW).

North America is likely to grow with an impressive CAGR over the forecast period as blockchain is gaining popularity in media and entertainment industry. The US is expected to garner a lucrative valuation in the foreseeable future owing to the robust adoption of blockchain among enterprises of all size. The well-established advertising industry in North America is observed to extensively use blockchain solutions, which is likely to encourage the blockchain in media and entertainment market growth, The European blockchain in media and entertainment market is expected to grow at a rapid pace over the review period. The rising need for media content security is anticipated to encourage the growth of the European market. The growing number of smart contract startups in Europe is also expected to contribute to the health of the regional market. The blockchain in media and entertainment market in the Asia Pacific region is expected to attain an impressive CAGR over the forecast period due to the growing awareness about the different application of blockchain technologies.

Key Players

MRFR enlisted some of the major companies which are operating in the global blockchain in media and entertainment market. They are; IBM Corporation, Oracle Corporation, BTL Group, Auxesis Group, Microsoft Corporation, SAP SE, Bitfury USA Inc., GuardTime, Amazon Web Services, Accenture PLC, Infosys Limited, Factom Inc., AS, Voise, Nyiax Inc., MetaX, and ClearCoin.

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