Overview and Scope
Digital rights management in media and entertainment is a service for protecting real-time streaming services and digital media using copyrights and license keys. It helps the delivery of media while preserving owners’ authorization and privacy rights, which allows only authorized users to access media and prevents unauthorized duplication and distribution of media content.
Sizing and Forecast
The digital rights management in media and entertainment market size has grown rapidly in recent years. It will grow from $2.95 billion in 2023 to $3.49 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to shift to digital distribution, globalization of content, diverse content formats, increase in online streaming, protecting intellectual property, consumer demand for accessibility.
The digital rights management in media and entertainment market size is expected to see rapid growth in the next few years. It will grow to $6.84 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to emergence of new content platforms, rise of user-generated content, cross-platform content consumption, increased content investment, focus on data privacy, dynamic content delivery models. Major trends in the forecast period include cloud-based drm solutions, blockchain for enhanced security, cross-platform compatibility, ai and machine learning for content monitoring, standardized drm solutions, multi-channel distribution strategies.
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Segmentation & Regional Insights
The digital rights management in media and entertainment market covered in this report is segmented –
1) By Enterprise Size: Small And Medium Entreprises, Large Enterprises
2) By Application: Mobile Content, Video On Demand (VoD), Mobile Gaming And Apps, Ebook
3) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI), Healthcare, Printing And Publication Educational, Television And Film
North America was the largest region in the digital rights management in media and entertainment market in 2023. The regions covered in the digital rights management in media and entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising demand for OTT content is expected to propel the growth of digital rights management in the media and entertainment market going forward. Over-the-top (OTT) refers to the method of delivering digital entertainment content such as movie material via the internet as per the need and demands of specific customers. Digital rights management in the media and entertainment in over-the-top (OTT) aids content owners in enforcing content access regulations by preventing customers from duplicating and converting content to other media formats. The content owner establishes these access policies, which specify how the content may be accessed and used. For instance, in August 2022, according to Finder.com Comparison UK Limited, a UK-based independent comparison platform, and information service provider, in the last 12 months, 9 out of 10 Britons have utilized a streaming service. In the UK, 58% of all households have at least one streaming service subscription. This is 5% more than in 2020. Therefore, the rising demand for OTT content is driving the growth of digital rights management in the media and entertainment market.
Key Industry Players
Major companies in the digital rights management in media and entertainment market are increasingly focusing on partnerships and collaborations to improve their product portfolio and geographical presence. Strategic partnerships and collaborations refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For example, in June 2023, CDNetworks, a Singapore-based network to deliver edge as a service, entered into partnership with Irdeto to integrate CDNetworks’ media delivery platform with built-in digital rights management (DRM) capabilities. This integrated solution provides content creators and distributors with one-stop digital content protection for their video streaming business. Irdeto is the Netherlands-based company engaged in in digital platform cybersecurity.
The digital rights management in media and entertainment market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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