Blockchain Press Releases

AI Technology Set to Reshape Stock Images & Videos Market, the Market is Projected to Worth $7.33 Billion by 2028 – Arizton

Published

1 year ago

July 4, 2023

ai-technology-set-to-reshape-stock-images-&-videos-market,-the-market-is-projected-to-worth-$7.33-billion-by-2028-–-arizton

CHICAGO, July 4, 2023 /PRNewswire/ — According to Arizton’s latest research report, the stock images and videos market will grow at a CAGR of 6.74% during 2022-2028.

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Browse In-Depth TOC on Stock Images and Videos Market 

122 – Tables 
123 – Charts 
474 – Pages 

The stock image market was in good shape in the mid-1990s. Good-quality photographs, stable stock photography prices, great demand, and limited supply made it a lucrative sector. However, the advent of the internet turned the market upside down. Customers and end-users began looking for ways to get these images at low prices for longer durations. The RF license thus made its way into the market. Synonymous with nearly unlimited usage, images that carried this license must be sold for fixed prices based on the file size. Subscriptions became the norm. Five years down the line, these libraries began shifting to the digital base, and the revenue growth was strong. Like every other high-profit-making industry, it invited solid competition. Many countermeasures were released in response to the competition, including bringing down royalty rates, offering micro-prices, and driving up sub-distribution agreements. This resulted in chaos, with the photography commission being thrown in a bind and aggregators and distributors taking up more revenue share. The rising penetration of animation production, a rapid shift to vertical formats, blockchain technology making inroads, social issues trumping mindless consumerism, increasing penetration of AI & ML in stock content, growth of platform integrations, and mobile stock losing its sheen are the growing trends in the stock images and videos market.

Stock Images and Videos Market Report Scope

Report Attributes	Details
Market Size (2028)	USD 7.33 Billion Advertisement
Market Size (2022)	USD 4.96 Billion
CAGR (2022-2028)	6.74 %
Base Year Advertisement	2022
Forecast Year	2023-2028
Market Segmentation	Product, Source, License, Application, End-user, and Geography Advertisement
Geographic Analysis	North America, Europe, APAC, Latin America, and Middle East & Africa
Market Dynamics	Growing E-Learning Industry Reinvention of Storytelling Improving Journalistic Value Growth of Digital Communities in Hyper-Connected Ecosystems Social Shows Sustain Buzz in Stock Content Growth of Content Automation & Personalization Consumer Behaviour & Authenticity

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Recent Developments and Launches Of AI Platforms & Tools

In the stock image market, vendors increasingly introduce AI platforms and tools to enhance their offerings. These AI-powered solutions are designed to revolutionize the way customers search for and utilize stock images. By leveraging machine learning and computer vision algorithms, these platforms can analyze and understand the content of images, enabling more accurate and relevant search results.

In early 2023, Shutterstock launched a new AI image generator – Shutterstock Generate. This tool came out because of the partnership between Dall-E & Shutterstock. It is a text-to-image generator that utilizes the Dall-E model, specifically trained using Shutterstock’s content library. This unique approach ensures legal compliance and transparency throughout the image generation process. When users download the generated images through the app, they are licensed by Shutterstock, providing a reliable and authorized source for usage.

Microstock Market Gaining Huge Popularity, and Macrostock Market to Recover in the Upcoming Years

Microstock has recreated the industry demands and has found even more popularity during the pandemic. The rise of the World Wide Web brought a rush of new highly digital businesses that needed a strong online presence and marketing collateral for their offline efforts. These start-ups have largely been attributed to the success of this relatively new, stably growing online image market. However, the advent of microstock has led macrostock agencies to lose their customers to the former. While these heavy hitters have firmly grounded their revenues, accounting for the largest share of the market, their growth has slowed down comparatively in recent years.

Major agencies are currently swaying towards acquiring more crowd-sourced images to increase their authenticity and revenues. However, some players such as Stocksy, are betting on platform cooperatives, which aim to preserve the strength and integrity of the artist community for sustainable long-term growth. Compared to macrostock agencies, microstock is swift to act on innovation and adapt to new image technologies. From efforts gained at breaking new ground, such as the embed initiatives, to trailblazing partnerships with technology companies, social networks, publishing platforms, events, and the like, macrostock companies are on a roll. All of this, though, is an effort to bring the market back to its good days. For instance, Getty Images partnered with the Rugby Africa Gold Cup board to offer images of its competition to its customers.

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Competition in Stock Images and Videos Market is Intensifying Across the Globe

Getty Images, Visual China Group, Shutterstock, and Adobe Stock are the four major vendors that dominate the market. Several vendors in this market have a global presence, creating strong brand images for their products. In addition, several small and large vendors are altering the stock photography business with new approaches and models, such as making mobile a platform. With many of these vendors trying to cut costs due to the shrinking revenues, offering any service apart from the basic limits their growth. Several larger players have witnessed a decline in revenues over the last couple of years due to consolidation that devalued the market.

Getty Images is a leading vendor in the market. It works with hundreds of image partners, 200,000 contributors, and over 160,000 sports, news, and entertainment events.
Visual China Group is another significant player in the market. The company has over 600 employees, serving over 15,000 media outlets, advertisers, and other organizations. It has hundreds of image partners and 14,000 contributors globally.
Shutterstock is another large player in the market. It has about 1.8 million active paying customers, over 350,000 contributors, more than 9 million video clips, and 170 million images available for license.
Adobe Stock is a significant player in the market, offering over 90 million assets.

Key Company Profiles

Adobe Stock
Getty Images
Hanhua Yimei Visual Technology
Shutterstock

123RF
Agence France Presse (AFP)
AFP
agefotostock
Alamy
AP Images
Artlist
Can Stock Photo
Canva
Coinaphoto
Creative Market
Death to Stock
Depositphotos
Dissolve
Dreamstime
East News
Envato
EyeEm
Freepik
Fotosearch
ImagesBazaar
Masterfile
Newscom
NHK VIDEO BANK
PantherMedia
Photofolio
Picfair
Pixta
Pond5
PR Photos
Redux Pictures
Storyblocks
Stocksy
StockUnlimited
The Mega Agency
THOMSON REUTERS
WENN
Westend61
ZUMA Press

Market Segmentation

Product

Stock Images
Stock Videos

Source

Macrostock
Microstock

Application

Commercial
Editorial

License

End-user

Marketers
Films & TV Producers
Media & Publishing Companies
Business & Individual Creators

Geography

North America

The US
Canada

Europe

The UK
Germany
France
Spain
Russia
Italy
Sweden
Switzerland
Belgium
Netherlands
Poland
Turkey

APAC

China
India
Japan
Australia
South Korea
Indonesia
Taiwan
Philippines
New Zealand
Malaysia
Thailand

Middle East & Africa

UAE
South Africa
Saudi Arabia
Egypt
Nigeria

Latin America

Brazil
Mexico
Argentina
Colombia
Chile
Peru

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Table of Content

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION

4.1.1 INCLUSIONS

4.1.2 EXCLUSIONS

4.1.3 MARKET ESTIMATION CAVEATS

4.2 BASE YEAR

4.3 SCOPE OF THE STUDY

4.3.1 MARKET SEGMENTATION BY PRODUCT

4.3.2 MARKET SEGMENTATION BY LICENSE

4.3.3 MARKET SEGMENTATION BY APPLICATION

4.3.4 MARKET SEGMENTATION BY SOURCE

4.3.5 MARKET SEGMENTATION BY END-USER

4.3.6 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 MARKET AT A GLANCE

7 PREMIUM INSIGHTS

7.1 MARKET DEFINITION

7.2 REPORT OVERVIEW

7.3 RECENT DEVELOPMENTS AND LAUNCHES OF AI PLATFORMS & TOOLS

7.4 RISK FACTORS IN MARKET

7.5 GLOBAL MEDIA LANDSCAPE

7.6 OPPORTUNITIES & CHALLENGE ANALYSIS

7.7 SEGMENT ANALYSIS

7.8 REGIONAL ANALYSIS

7.9 COMPETITIVE LANDSCAPE

7.10 FREQUENTLY ASKED QUESTIONS

8 INTRODUCTION

8.1 OVERVIEW

8.2 INTRODUCTION OF AI STOCK IMAGES MARKET

8.2.1 MARKET DYNAMICS

8.2.2 GROWTH OPPORTUNITIES FOR AI STOCK IMAGES

8.2.3 GEOGRAPHY ANALYSIS

8.2.4 RECENT DEVELOPMENTS AND LAUNCHES OF AI PLATFORMS & TOOLS

8.3 RISK FACTORS

8.4 GOVERNMENT REGULATIONS

8.5 KEY ELEMENTS IN STOCK IMAGES & VIDEOS MARKET

8.5.1 SALES & DISTRIBUTION CHANNEL

8.5.2 CONTENT CONTRIBUTING COMMUNITY

8.5.3 COMPETITION

8.5.4 MARKETING

8.6 GLOBAL DIGITAL VISUAL CONTENT MARKET

8.7 GLOBAL MEDIA LANDSCAPE

8.8 COVID-19 IMPACT ANALYSIS

8.8.1 CHANGING AGENCY MODELS

8.8.2 POST-COVID SCENARIO

8.9 FUTURE OUTLOOK

8.10 VALUE CHAIN

8.10.1 BUSINESS MODEL

9 MARKET OPPORTUNITIES & TRENDS

9.1 RISING PENETRATION OF ANIMATION PRODUCTION

9.2 RAPID SHIFT TO VERTICAL FORMATS

9.3 OTT PLATFORMS BOOSTING DEMAND FOR STOCK FOOTAGE

9.4 BLOCKCHAIN TECHNOLOGY MAKING INROADS

9.5 SOCIAL ISSUES TRUMP MINDLESS CONSUMERISM

9.6 INCREASING PENETRATION OF AI & ML IN STOCK CONTENT

9.7 POWERING UP VIA DISTRIBUTION DEALS

9.8 GROWTH OF PLATFORM INTEGRATIONS

9.9 MOBILE STOCK LOSING ITS SHEEN

9.10 DRONE-SHOT CONTENT IN VISUAL ARTS

10 MARKET GROWTH ENABLERS

10.1 GROWTH IN E-LEARNING INDUSTRY

10.2 REINVENTION OF STORYTELLING

10.3 IMPROVEMENT IN JOURNALISTIC VALUES

10.4 GROWTH OF DIGITAL COMMUNITIES IN HYPER-CONNECTED ECOSYSTEM

10.5 SOCIAL SHOWS SUSTAIN BUZZ IN STOCK CONTENT

10.6 GROWTH OF CONTENT AUTOMATION & PERSONALIZATION

10.7 CONSUMER BEHAVIOR & AUTHENTICITY

11 MARKET RESTRAINTS

11.1 SHIFT IN DIGITAL CULTURE

11.2 COPYRIGHT INFRINGEMENT & BREACH OF LICENSES

11.3 PROLIFERATION OF SHOPPABLE SOCIAL COMMERCE

11.4 GLUT OF IMAGES

11.5 UNSUSTAINABLE BUSINESS MODELS

11.6 USER-GENERATED CONTENT EATING INTO MARKET

11.7 AUDIO ECLIPSING VIDEO

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW

12.1.1 MERGERS & ACQUISITIONS AND RECENT DEVELOPMENTS

12.1.2 KEY INSIGHTS

12.2 PEST ANALYSIS

12.2.1 POLITICAL FACTORS

12.2.2 ECONOMIC FACTORS

12.2.3 SOCIAL FACTORS

12.2.4 TECHNOLOGICAL FACTORS

12.3 MARKET SIZE & FORECAST

12.4 MARKET BY PRODUCT

12.5 MARKET BY SOURCE

12.6 MARKET BY APPLICATION

12.7 MARKET BY LICENSE

12.8 MARKET BY END-USER

12.9 FIVE FORCES ANALYSIS

12.9.1 THREAT OF NEW ENTRANTS

12.9.2 BARGAINING POWER OF SUPPLIERS

12.9.3 BARGAINING POWER OF BUYERS

12.9.4 THREAT OF SUBSTITUTES

12.9.5 COMPETITIVE RIVALRY

13 PRODUCT

13.1 MARKET SNAPSHOT & GROWTH ENGINE

13.2 MARKET OVERVIEW

13.3 STOCK IMAGES

13.3.1 MARKET SIZE & FORECAST

13.3.2 MARKET BY GEOGRAPHY

13.4 STOCK VIDEOS

13.4.1 MARKET SIZE & FORECAST

13.4.2 MARKET BY GEOGRAPHY

14 SOURCE

14.1 MARKET SNAPSHOT & GROWTH ENGINE

14.2 MARKET OVERVIEW

14.3 MACROSTOCK

14.3.1 MARKET SIZE & FORECAST

14.3.2 IMAGES

14.3.3 VIDEOS

14.3.4 MARKET BY GEOGRAPHY

14.4 MICROSTOCK

14.4.1 MARKET SIZE & FORECAST

14.4.2 IMAGES

14.4.3 VIDEOS

14.4.4 MARKET BY GEOGRAPHY

15 APPLICATION

15.1 MARKET SNAPSHOT & GROWTH ENGINE

15.2 MARKET OVERVIEW

15.3 COMMERCIAL

15.3.1 MARKET SIZE & FORECAST

15.3.2 MARKET BY GEOGRAPHY

15.4 EDITORIAL

15.4.1 MARKET SIZE & FORECAST

15.4.2 MARKET BY GEOGRAPHY

16 LICENSE

16.1 MARKET SNAPSHOT & GROWTH ENGINE

16.2 MARKET OVERVIEW

16.3 RM

16.3.1 MARKET SIZE & FORECAST

16.3.2 IMAGES

16.3.3 VIDEOS

16.3.4 MARKET BY GEOGRAPHY

16.4 RF

16.4.1 MARKET SIZE & FORECAST

16.4.2 IMAGES

16.4.3 VIDEOS

16.4.4 MARKET BY GEOGRAPHY

17 END-USER

17.1 MARKET SNAPSHOT & GROWTH ENGINE

17.2 MARKET OVERVIEW

17.3 MARKETERS

17.3.1 MARKET SIZE & FORECAST

17.3.2 MARKET BY GEOGRAPHY

17.4 FILMS & TV PRODUCERS

17.4.1 MARKET SIZE & FORECAST

17.4.2 MARKET BY GEOGRAPHY

17.5 MEDIA & PUBLISHING COMPANIES

17.5.1 MARKET SIZE & FORECAST

17.5.2 MARKET BY GEOGRAPHY

17.6 BUSINESSES & INDIVIDUAL CREATORS

17.6.1 MARKET SIZE & FORECAST

17.6.2 MARKET BY GEOGRAPHY

18 GEOGRAPHY

18.1 MARKET SNAPSHOT & GROWTH ENGINE

18.2 GEOGRAPHIC OVERVIEW

19 NORTH AMERICA

19.1 MARKET OVERVIEW

19.1.1 IMAGES

19.1.2 VIDEOS

19.2 MARKET SIZE & FORECAST

19.2.1 PRODUCT: MARKET SIZE & FORECAST

19.2.2 SOURCE: MARKET SIZE & FORECAST

19.2.3 APPLICATION: MARKET SIZE & FORECAST

19.2.4 LICENSE: MARKET SIZE & FORECAST

19.2.5 END-USER: MARKET SIZE & FORECAST

19.3 KEY COUNTRIES

19.4 US

19.4.1 MARKET SIZE & FORECAST

19.4.2 IMAGES

19.4.3 VIDEOS

19.5 CANADA

19.5.1 MARKET SIZE & FORECAST

19.5.2 IMAGES

19.5.3 VIDEOS

20 EUROPE

20.1 MARKET OVERVIEW

20.1.1 IMAGES

20.1.2 VIDEOS

20.2 MARKET SIZE & FORECAST

20.2.1 PRODUCT: MARKET SIZE & FORECAST

20.2.2 SOURCE: MARKET SIZE & FORECAST

20.2.3 APPLICATION: MARKET SIZE & FORECAST

20.2.4 LICENSE: MARKET SIZE & FORECAST

20.2.5 END-USER: MARKET SIZE & FORECAST

20.3 KEY COUNTRIES

20.4 UK

20.4.1 MARKET SIZE & FORECAST

20.4.2 IMAGES

20.4.3 VIDEOS

20.5 GERMANY

20.5.1 MARKET SIZE & FORECAST

20.5.2 IMAGES

20.5.3 VIDEOS

20.6 FRANCE

20.6.1 MARKET SIZE & FORECAST

20.6.2 IMAGES

20.6.3 VIDEOS

20.7 SPAIN

20.7.1 MARKET SIZE & FORECAST

20.7.2 IMAGES

20.7.3 VIDEOS

20.8 RUSSIA

20.8.1 MARKET SIZE & FORECAST

20.8.2 IMAGES

20.8.3 VIDEOS

20.9 ITALY

20.9.1 MARKET SIZE & FORECAST

20.9.2 IMAGES

20.9.3 VIDEOS

20.10 SWEDEN

20.10.1 MARKET SIZE & FORECAST

20.10.2 IMAGES

20.10.3 VIDEOS

20.11 SWITZERLAND

20.11.1 MARKET SIZE & FORECAST

20.11.2 IMAGES

20.11.3 VIDEOS

20.12 BELGIUM

20.12.1 MARKET SIZE & FORECAST

20.12.2 IMAGES

20.12.3 VIDEOS

20.13 NETHERLANDS

20.13.1 MARKET SIZE & FORECAST

20.13.2 IMAGES

20.13.3 VIDEOS

20.14 POLAND

20.14.1 MARKET SIZE & FORECAST

20.14.2 IMAGES

20.14.3 VIDEOS

20.15 TURKEY

20.15.1 MARKET SIZE & FORECAST

20.15.2 IMAGES

20.15.3 VIDEOS

21 APAC

21.1 MARKET OVERVIEW

21.1.1 IMAGES

21.1.2 VIDEOS

21.2 MARKET SIZE & FORECAST

21.2.1 PRODUCT: MARKET SIZE & FORECAST

21.2.2 SOURCE: MARKET SIZE & FORECAST

21.2.3 APPLICATION: MARKET SIZE & FORECAST

21.2.4 LICENSE: MARKET SIZE & FORECAST

21.2.5 END-USER: MARKET SIZE & FORECAST

21.3 KEY COUNTRIES

21.4 CHINA

21.4.1 MARKET SIZE & FORECAST

21.4.2 IMAGES

21.4.3 VIDEOS

21.5 INDIA

21.5.1 MARKET SIZE & FORECAST

21.5.2 IMAGES

21.5.3 VIDEOS

21.6 JAPAN

21.6.1 MARKET SIZE & FORECAST

21.6.2 IMAGES

21.6.3 VIDEOS

21.7 AUSTRALIA

21.7.1 MARKET SIZE & FORECAST

21.7.2 IMAGES

21.7.3 VIDEOS

21.8 SOUTH KOREA

21.8.1 MARKET SIZE & FORECAST

21.8.2 IMAGES

21.8.3 VIDEOS

21.9 INDONESIA

21.9.1 MARKET SIZE & FORECAST

21.9.2 IMAGES

21.9.3 VIDEOS

21.10 TAIWAN

21.10.1 MARKET SIZE & FORECAST

21.10.2 IMAGES

21.10.3 VIDEOS

21.11 PHILIPPINES

21.11.1 MARKET SIZE & FORECAST

21.11.2 IMAGES

21.11.3 VIDEOS

21.12 NEW ZEALAND

21.12.1 MARKET SIZE & FORECAST

21.12.2 IMAGES

21.12.3 VIDEOS

21.13 MALAYSIA

21.13.1 MARKET SIZE & FORECAST

21.13.2 IMAGES

21.13.3 VIDEOS

21.14 THAILAND

21.14.1 MARKET SIZE & FORECAST

21.14.2 IMAGES

21.14.3 VIDEOS

22 MIDDLE EAST & AFRICA

22.1 MARKET OVERVIEW

22.1.1 IMAGES

22.1.2 VIDEOS

22.2 MARKET SIZE & FORECAST

22.2.1 PRODUCT: MARKET SIZE & FORECAST

22.2.2 SOURCE: MARKET SIZE & FORECAST

22.2.3 APPLICATION: MARKET SIZE & FORECAST

22.2.4 LICENSE: MARKET SIZE & FORECAST

22.2.5 END-USER: MARKET SIZE & FORECAST

22.3 KEY COUNTRIES

22.4 UAE

22.4.1 MARKET SIZE & FORECAST

22.4.2 IMAGES

22.4.3 VIDEOS

22.5 SOUTH AFRICA

22.5.1 MARKET SIZE & FORECAST

22.5.2 IMAGES

22.5.3 VIDEOS

22.6 SAUDI ARABIA

22.6.1 MARKET SIZE & FORECAST

22.6.2 IMAGES

22.6.3 VIDEOS

22.7 EGYPT

22.7.1 MARKET SIZE & FORECAST

22.7.2 IMAGES

22.7.3 VIDEOS

22.8 NIGERIA

22.8.1 MARKET SIZE & FORECAST

22.8.2 IMAGES

22.8.3 VIDEOS

23 LATIN AMERICA

23.1 MARKET OVERVIEW

23.1.1 IMAGES

23.1.2 VIDEOS

23.2 MARKET SIZE & FORECAST

23.2.1 PRODUCT: MARKET SIZE & FORECAST

23.2.2 SOURCE: MARKET SIZE & FORECAST

23.2.3 APPLICATION: MARKET SIZE & FORECAST

23.2.4 LICENSE: MARKET SIZE & FORECAST

23.2.5 END-USER: MARKET SIZE & FORECAST

23.3 KEY COUNTRIES

23.4 BRAZIL

23.4.1 MARKET SIZE & FORECAST

23.4.2 IMAGES

23.4.3 VIDEOS

23.5 MEXICO

23.5.1 MARKET SIZE & FORECAST

23.5.2 IMAGES

23.5.3 VIDEOS

23.6 ARGENTINA

23.6.1 MARKET SIZE & FORECAST

23.6.2 IMAGES

23.6.3 VIDEOS

23.7 COLOMBIA

23.7.1 MARKET SIZE & FORECAST

23.7.2 IMAGES

23.7.3 VIDEOS

23.8 CHILE

23.8.1 MARKET SIZE & FORECAST

23.8.2 IMAGES

23.8.3 VIDEOS

23.9 PERU

23.9.1 MARKET SIZE & FORECAST

23.9.2 IMAGES

23.9.3 VIDEOS

24 COMPETITIVE LANDSCAPE

24.1 COMPETITION OVERVIEW

24.2 MARKET RANKING & SHARES

25 KEY COMPANY PROFILES

25.1 ADOBE STOCK

25.1.1 BUSINESS OVERVIEW

25.1.2 PRODUCT OFFERINGS

25.1.3 KEY STRATEGIES

25.1.4 KEY STRENGTHS

25.1.5 KEY OPPORTUNITIES

25.2 GETTY IMAGES

25.3 HANHUA YIMEI VISUAL TECHNOLOGY

25.4 SHUTTERSTOCK

26 OTHER PROMINENT VENDORS

26.1 123RF

26.1.1 BUSINESS OVERVIEW

26.1.2 PRODUCT OFFERINGS

26.1.3 KEY STRENGTHS

26.1.4 KEY STRATEGIES

26.2 AGENCE FRANCE PRESSE (AFP)

26.3 AFP

26.4 AGEFOTOSTOCK

26.5 ALAMY

26.6 AP IMAGES

26.7 ARTLIST

26.8 CAN STOCK PHOTO

26.9 CANVA

26.10 COINAPHOTO

26.11 CREATIVE MARKET

26.12 DEATH TO STOCK

26.13 DEPOSITPHOTOS

26.14 DISSOLVE

26.15 DREAMSTIME

26.16 EAST NEWS

26.17 ENVANTO

26.18 EYEEM

26.19 FREEPIK

26.20 FOTOSEARCH

26.21 IMAGESBAZAAR

26.22 MASTERFILE

26.23 NEWSCOM

26.24 NHK VIDEO BANK

26.25 PANTHERMEDIA

26.26 PHOTOFOLIO

26.27 PICFAIR

26.28 PIXTA

26.29 POND5

26.30 PR PHOTOS

26.31 REDUX PICTURES

26.32 STORYBLOCKS

26.33 STOCKSY

26.34 STOCKUNLIMITED

26.35 THE MEGA AGENCY

26.36 THOMSON REUTERS

26.37 WENN

26.38 WESTEND61

26.39 ZUMA PRESS

27 REPORT SUMMARY

27.1 KEY TAKEAWAYS

27.2 STRATEGIC RECOMMENDATIONS

28 QUANTITATIVE SUMMARY

29 APPENDIX

29.1 ABBREVIATIONS

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Blockchain Press Releases

Bybit Waives P2P Transaction Fees for Users in Africa

Published

15 hours ago

November 21, 2024

CISION (PR Newswire)

bybit-waives-p2p-transaction-fees-for-users-in-africa

DUBAI, UAE, Nov. 21, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to reaffirm its commitment to providing ease of access to digital assets for eligible P2P users in Africa at zero fee. Connecting buyers and sellers at no cost, Bybit P2P continues to be the benchmark for cost-effective and convenient trading experiences.

Since its launch in Jan. 2022, Bybit P2P has consistently provided a user-friendly platform for users seeking a safer way to participate in the digital asset class. The services are offered at no costs for merchants and takers in P2P transactions:

Merchants: Merchants may post advertisements on Bybit P2P for free.
Takers: Users may place an order through advertisements listed on the P2P platform at no costs. The offer stands across all fiat trading pairs. Third-party fees may incur depending on the payment method chosen, as the payment providers may charge a transaction fee.

P2P Fee Structure (Africa)

	Taker Fee (Sell Page)	Maker Fee (Sell Page)
Bybit Advertisement	0 %	0 %
Competitor B	0.5% on completed orders for certain trading pairs	0 % Advertisement

In addition, Bybit has launched an exciting P2P Coupon Giveaway Campaign from now to Jan. 15, 2025. As part of this initiative, users can earn a share of up to 20,000 USDT in rewards by completing tasks such as depositing $100 or trading $50,000 through Bybit P2P. The rewards will be in the form of Bybit P2P coupons to be redeemed in the next purchase, making the zero-fee transactions an even better deal for winners.

“Bybit’s steadfast commitment to contributing to financial inclusion comes in all forms, and keeping our P2P services free for as long as we can, and for as many users as possible, is one of the ways to support the crypto community,” said Joan Han, Sales and Marketing Director at Bybit. “When users come to our platform with the hopes of generating income on their assets, we want to play a supportive role in helping them reach their personal financial goals,” she added.

P2P on Bybit offers an intuitive and cost-effective peer-to-peer trading platform, facilitating the buying and selling of two users’ holdings at an optimal, agreed-upon price between them. With Bybit P2P, users stand to benefit from Bybit’s enterprise-level security and advanced features including comprehensive built-in KYC and KYB verification mechanisms, rigorous asset management protocols, and 24/7 customer service.

Find out more about the event and eligibility at Bybit P2P.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

KryptoGO Empowering Enterprises with Ready-to-Deploy Wallet Technology

Published

17 hours ago

November 21, 2024

CISION (PR Newswire)

kryptogo-empowering-enterprises-with-ready-to-deploy-wallet-technology

TAIPEI, Nov. 21, 2024 /PRNewswire/ — KryptoGO, a leading Web3 infrastructure provider, offers an innovative wallet solution to help businesses offer secure and stable crypto payment services without the need for costly in-house development. With its Wallet as a Service (WaaS), KryptoGO enables enterprises to quickly integrate efficient and cost-effective crypto payment solutions while focusing on their business operations.

Why Choose KryptoGO’s Wallet Solution?

Developing a secure, multi-chain crypto wallet from scratch presents significant challenges, including extensive security measures, maintaining fast and reliable transaction speeds, and controlling development and operational costs. A recent PwC global CEO survey highlighted that security concerns, regulatory issues, and operational complexities are key barriers for businesses adopting digital asset solutions. Additionally, Coinbase’s report states that 87% of Fortune 500 executives cited a lack of clear regulations as a significant obstacle in their digital asset investments. KryptoGO’s WaaS addresses these issues by providing a white-label wallet service that businesses can easily integrate, ensuring strong performance and compliance.

Competitive Advantage: Speed and Cost Control

KryptoGO has optimized transaction speeds and minimized costs through extensive benchmarking and performance evaluations. On the TRON blockchain, KryptoGO delivers transaction notifications within 1.2 seconds and reduces transaction fees by at least 20% compared to other wallets. These advantages stem from the team’s expertise in blockchain development and data index optimization, ensuring faster, more efficient, and dependable transactions.

Success Story: Ocean Wallet

One of KryptoGO’s notable successes in customizable, white-label wallet solutions is Ocean Wallet. In less than two months, Ocean Wallet was able to launch a fully functional, competitive crypto wallet app without needing to hire any developer. With KryptoGO’s flexible solution, Ocean Wallet was able to tailor its features to meet the specific needs of its target audience—stablecoins payments in the TRON ecosystem. By leveraging KryptoGO’s expertise, Ocean Wallet was able to deliver a seamless wallet experience with the ideal functionality to support its unique business model, achieving fast market entry and providing seamless crypto payment solutions at the lowest possible cost.

Building the Future of Crypto Payments

For businesses looking to enter Web3 quickly and efficiently, a customizable wallet solution is the key. KryptoGO’s Wallet as a Service enables corporates to adopt crypto with minimal development resources. If you’re also interested in how KryptoGO can support your Web3 business needs, please contact us or visit www.kryptogo.com.

Media Contact: [email protected]

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View original content:https://www.prnewswire.co.uk/news-releases/kryptogo-empowering-enterprises-with-ready-to-deploy-wallet-technology-302312926.html

Blockchain Press Releases

KuCoin Partners with Dubai Sports Council for the Open Padel Cup for Government Institutions

Published

22 hours ago

November 21, 2024

CISION (PR Newswire)

kucoin-partners-with-dubai-sports-council-for-the-open-padel-cup-for-government-institutions

DUBAI, UAE, Nov. 21, 2024 /PRNewswire/ — KuCoin, a leading global crypto exchange, in collaboration with the Dubai Sports Council, has announced the Open Padel Cup for Government Institutions as the Title Sponsor during a press conference held on November 19th, 2024. Scheduled from December 13 to 15, the Open Padel Cup Championship invites all government institutions across the UAE to participate. To promote amateur participation, professional players registered with clubs or the UAE Padel Association are not eligible, ensuring over 300 Emirati amateurs can take part in this competition.

Padel has been gaining traction in Dubai as a fun and engaging way to promote a healthy lifestyle and enrich the local sports culture. The Dubai Sports Council has recently spearheaded the Padel Cup Tournament initiative, partnering with KuCoin for the event, which is organized by Royal Griffin Event and hosted at JUST PADEL facilities.

As the title sponsor, KuCoin has expressed strong confidence in the economic prospects of the Middle East, particularly the UAE and Dubai, especially regarding the immense potential of the cryptocurrency market. Over the past few years, KuCoin has established many meaningful partnerships in Dubai’s vibrant city and has been actively involved in various local activities. Last year, KuCoin sponsored the COP28 Global Climate Change and Green Blockchain Summit and hosted the “KuCoin Green Future Charity Gala Dinner,” supporting various charitable causes.

At the press conference, Harry Chan, the representative from KuCoin highlighted the synergy between sports and blockchain technology, noting that both fields emphasize collaboration and innovation. Padel is a sport that requires high levels of teamwork and strategic thinking, aligns with the decentralized cooperation and innovative spirit of blockchain technology. “We believe that through activities like the Open Padel Cup for Government Institutions, we can better communicate the core values of blockchain technology to the public and inspire more innovative ideas,” said the KuCoin representative, and “help bring in and connect global responsible companies and talents”. This event marks the latest in a series of collaborations by KuCoin in Dubai, underscoring its long-term commitment to the Dubai market.

Fawzia Faridoun, Director of the Community Sports Department at the Dubai Sports Council expressed pleasure in partnering with KuCoin to promote the city’s sports culture and healthy lifestyle, looking forward to deeper cooperation in the future.

About KuCoin

Launched in September 2017, KuCoin is a leading crypto exchange and financial technology platform with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement, KuCoin offers over 800 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 37 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of November 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.

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View original content:https://www.prnewswire.co.uk/news-releases/kucoin-partners-with-dubai-sports-council-for-the-open-padel-cup-for-government-institutions-302312586.html

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