Mounting Software Industry Backed By Technological Advancement To Increase Market For Copyright Licensing In IT & Telecom Industry
NEW YORK, Oct. 25, 2022 /PRNewswire/ — According to Fact.MR, a market research and competitive intelligence provider, the global copyright licensing market is likely at US$ 1,052.4 million in 2022 and is expected to expand at a CAGR of 5.7% during the forecast years of 2022-2032. This has created significant opportunity for the market players in the segment owing to which investment in copyright licensing in large enterprises.
The market for copyright licencing is fragmented, with numerous regional and international competitors monopolising it. Important players should concentrate on expanding their worldwide presence while taking country-level IPR rules into consideration. Demand for the film and entertainment industries has risen in developing nations like China and India.
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Copyright licencing has seen a lot of growth opportunities as a result of the rising demand for content protection and author credibility. Digital marketing has helped businesses reach their target markets and position their products appropriately.
Large enterprises using digital marketing strategy in accordance with numerous industries are potential target for copyright licensing market. In addition to this architectural design are expected to reach valuation of US$ 274.2 million by 2032.
Additionally, a growing software industry supported by technological development would expand the market for copyright licencing in the IT and telecom sectors. The growing film and entertainment industry has been a major driver of the copyright licencing market during the past ten years. Additionally, the number of literary and creative works has increased as a result of the rising literacy rate.
From 2017 to 2021, the global market for copyright licensing registered a CAGR of 2.3% Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 5.7% CAGR between 2022 and 2032.
Key Takeaways from Market Study
The global copyright licensing market is projected to grow 5.7% and reach US$ 1,838.3 million by 2032.
The market witnessed 2.3% CAGR between 2017 and 2021.
Under organization, the large enterprise dominates the market with US$ 710.4 million valuations in 2022.
North America’s market share was 28.4% in 2021.
Music and Entertainment is going to dominate the market in 2022 with market value of US$ 277.1 million.
Based on region, demand is expected to increase at Y-O-Y growth of 5.5% and 5.7%, respectively, in East Asia and South Asia in 2022.
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Segmentation of Copyright Licensing Market
Regulatory Authority to Focus on Protection of Intellectual Property
In order to protect intellectual property, more than 190 countries have joined the World Intellectual Property Organization (WIPO) (IP). WIPO’s activities include arranging conferences to talk about and create international IP rules and strategies, supplying aid internationally to find and safeguard IP in various nations, settling cross-border IP disputes, connecting IP frameworks through common standards and foundations, and acting as a general reference source for all IP issues. This includes offering thorough and unbiased reports and measurements on the topic of IP assurance or development.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global copyright licensing market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Type (Literature Works, Films, Music, Artistic Works, Architectural Designs, Other), Organization (Large Enterprise, Small & Medium Enterprise (SMEs)), Vertical (Music and Entertainment, Architecture, Animation, Art & Graphics, Others), across major regions of the world (North Americas, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa).
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