Rising number of data piracy cases in media, entertainment, and advertising sectors is driving need for Blockchain, thereby boosting market revenue growth

Market Size – USD 160.4 Million in 2020, Market Growth – at a CAGR of 73.8%, Market Trends – Rapid digitalization and growing need to secure online transactions

The global blockchain in media, entertainment, and advertising market size is expected to reach USD 13.35 Billion in 2028 and register a revenue CAGR of 73.8% over the forecast period, according to the latest report by Reports and Data. Rising need to eliminate intermediaries between content creators and end users, need for faster and secure transactions, and increasing incidence of data piracy in the media and entertainment industry.

Blockchain aid in securing digitalized real-time computing systems, and enables enhancement of digital technology, which includes method of conducting business, shopping, learning, social media, and entertainment. Blockchain in media, entertainment, and advertising has been further enhanced by major players, and can aid in securing online financial transactions. Increasing adoption of cashless payments, credit and debit cards, and card-based online payment methods is driving revenue growth of the market. Blockchain supports helps to increase transaction processing speed and provide greater efficiency in real-time processing.

Blockchain in media, entertainment, and advertising offers a sturdy environment for sharing of data securely in on real-time basis. Additionally, with advent of blockchain technology in media, entertainment, and advertising market, the industry structure could change significantly. Blockchain technology allows bypassing content aggregators, platform providers, and collection of royalty associations to some extent. This way, blockchain in media, entertainment, and advertising market shifts towards copyright owners.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1618

Some Key Highlights in the Report

• In July 2020, Tech Mahindra launched a blockchain-based platform for Media & Entertainment. The platform is contrived to enable production houses and content creators to track royalty payments, revenue, manage rights and address content piracy by leveraging blockchain.
• Application providers segment accounted for largest revenue share in 2020 as they help media providers to reduce cost associated with contractual agreement, eliminate intermediaries, simplify distribution of profits and decrease manual processes.
• Online gaming segment is expected to register significant revenue growth rate during the forecast period. Competitive gaming, in collaboration with blockchain technology, can reward successful gamers with their own cryptocurrency, which with the help of blockchain it will have real-world value. One of the examples is the Huntercoin project. The gamers earn native HUC coins by playing against other players.
• Companies are nowadays deploying smart contracts to reduce cost and avoid fraud. These contracts deployed over blockchain in media, entertainment, and advertising guarantee that contract terms and conditions cannot be modified. The technology makes it nearly impossible for any third party to alter the contract. Smart contracts allow contracting parties to automate transaction tasks that are usually done manually, and which requires the participation of third-party mediators. Smart contracts segment accounted for a significant revenue share in 2020.
• Availability of resources and capital for incorporation of new technologies is expected to boost adoption of blockchain among large enterprises during the forecast period. High investment in research and development activities to build the best-fit technology to enhance the organization’s business is driving revenue growth of large enterprises segment.
• Market in North America accounted for largest revenue share in 2020. The region has key players of the market, and rapid adoption of advanced technologies and digitalization is expected to fuel blockchain in media, entertainment, and advertising market revenue growth. The U.S. is the major contributor to market revenue growth and Canada is also emerging as the fastest contributor to market growth.
• Major players in the market include IBM Corporation, Microsoft Corporation, SAP, Oracle, Accenture, BRAINBOY, Blockpoint, BTL Group, Factom, and Clearcoin.

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/1618

The Global Blockchain in Media, Entertainment, and Advertising Market is segmented as follows:

Provider Outlook (Revenue, USD Million; 2018–2028)

• Application Providers
• Middleware Providers
• Infrastructure Providers

Application Outlook (Revenue, USD Million; 2018–2028)

• Digital Advertising
• Smart Contracts
• Online Gaming
• Licensing and Rights Management
• Payments
• Content Security
• Others

Organization Size Outlook (Revenue, USD Million; 2018–2028)

• Small and Medium-Sized Enterprises
• Large Enterprises

Market Segmentation by Regions:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

To know more about the report, visit @ https://www.reportsanddata.com/report-detail/blockchain-in-media-entertainment-and-advertising-market

Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or queries about customization options, please reach out to us, and we will offer you the report best suited for your needs.

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:
John Watson
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Reports and Data | Web: www.reportsanddata.com

Browse More Reports

Sewer Cameras Market Size

Drone Power Sources Market Share

Satellite Communication Market Scope

Military Sensors Market Analysis

Space Situational Awareness Market Trends

Engine Valve Spring Market Report

Income Protection Insurance Market Forecast

Wealth Management Market Size

5G Base Station Dielectric Filter Market Share

Tactical Data Link Market Scope