Global Blockchain in Media, Advertising, and Entertainment Market Highlights 2022 – 2030
The global blockchain in media, advertising, and entertainment market is estimated to grow at a CAGR of ~40% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing demand to eliminate intermediaries between end-users and content creators, rising number of incidences of data piracy in the media industry, and increasing adoption of blockchain technology in the advertising vertical across the world. Along with these, escalating demand for faster and safer transactions globally is also considered to be a crucial factor expected to drive market growth in the upcoming years. Furthermore, the rise in penetration of internet coupled with the boom in the usage of AI-enabled smartphones are projected to offer profitable opportunities for the growth of the market in the near future. As of January 2021, more than 4.5 billion people used internet worldwide, i.e., almost 60 percent of the total world population. Amongst these, almost 4.3 billion people accessed the internet by mobile devices.
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The market is segmented by application into licensing & rights management, digital advertising, smart contracts, content security, online gaming, and payments, out of which, the payments segment is anticipated to hold the largest share in the global blockchain in media, advertising, and entertainment market on account of the fact that blockchain technology provides real-time payments against assets with an immutable digital identity. In addition, this technology also helps in automating processing activities and significantly reducing administrative costs, which are also predicted to boost the growth of the market segment in the future. Moreover, on the basis of enterprises, the segment for small and medium-sized enterprises is assessed to observe the highest CAGR over the forecast period owing to the high demand for integrating blockchain technology-based solutions in media, advertising and entertainment industry.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Blockchain in Media, Advertising, and Entertainment Market Regional Synopsis
On the basis of geographical analysis, the global blockchain in media, advertising, and entertainment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing penetration of internet, rising technological advancements in blockchain technology and escalating adoption of AI in the region. In 2017, almost 44 percent of people in the Asia and Pacific region had access to the internet, which increased up to more than 48 percent in just two years. Additionally, the market in the North America is projected to grab the largest share during the forecast period, which can be credited to the growing investments in the media, advertising and entertainment industry, early adoption of advanced technologies and rising number of digitization initiatives in the region.
The global blockchain in media, advertising, and entertainment market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global blockchain in media, advertising, and entertainment market includes the following segments:
By Blockchain Type
- Public
- Private
By Enterprise Size
- Small and Medium-Sized Enterprises (SMEs)
- Large Enterprises
By Application
- Licensing & Rights Management
- Digital Advertising
- Smart Contracts
- Content Security
- Online Gaming
- Payments
Growth Drivers
- Growing Demand to Eliminate Intermediaries between End-Users and Content Creators
- Rising Number of Incidences of Data Piracy in the Media Industry
Challenges
- Problems Faced During Integration of Old Systems
Top Featured Companies Dominating the Market
- Microsoft Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- SAP SE
- IBM Corporation
- Oracle Corporation
- Accenture plc
- Amazon Web Services, Inc.
- Infosys Limited
- Ujo Music
- Ernst & Young Global Limited
- Bitfury Group Limited
