Rising penetration of digital devices and surge in demand for OTT content delivery services are driving the demand for global digital rights management market through the forecast period, 2023-2027.
According to TechSci Research report, “Digital Rights Management Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global digital rights management market is anticipated to witness a growth of robust CAGR in the forecast period, 2023-2027. The increasing need for copyright protection policies to protect the digital content coupled with high demand from enterprises to secure confidential data from unauthorized access is the top impacting factor driving the global digital rights management market growth throughout the forecast period.
The surge in online activity boosts the necessity of streamlining and managing secured data access. Digital rights management solutions safeguard copyright holder interests and provide the necessary tools to protect any digital content. Increasing threat from online hackers is accelerating the need to protect digital content from unauthorized usage. Increasing demand for access control technologies and technological protection measures (TPM) supports the growth of the global digital rights management market. Leading authorities of several countries are mandating the implementation of security solutions which is further implementing the
However, the high purchasing cost of digital rights management solutions may restrain the market growth for the forecast period.
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The global digital rights management market is segmented into application, enterprise size, industry vertical, deployment mode, company, and regional distribution.
Based on the application, the market is divided into mobile content, mobile gaming, video-on-demand, and others. Video-on-demand is leading the market and is expected to account for the highest market share throughout the forecast period. The rise in the number of digital service provider platforms and the ability of digital rights management solutions to protect the data from infringement and copyright violations is driving the market demand. The solutions also restrict people from using portable devices to watch video or audio streaming online.
Based on the enterprise size, the market is divided into small & medium enterprises and large enterprises. Large enterprises are expected to account for the largest share of the global digital rights management market for the next five years. The availability of considerable budgets in large enterprises and the need to secure data to prevent financial loss is boosting the market demand.
Based on the deployment mode, the market is divided into on-premises and cloud. Cloud-based deployment mode is expected to witness the fastest incremental growth in the forecast period. Cloud-based platforms eliminate the need to invest capital infrastructure operational and maintenance costs. It requires less investment than the on-premises-based model and is highly preferred among organizations. Growing adoption of cloud-based solutions by enterprises to manage large volumes of data and make the cloud-based deployment more convenient. Cloud-based solutions are practical and affordable to handle the large volumes of digital content every day.
On the basis of regional analysis, the North American region is expected to dominate the global digital rights management market in the forecast period. Growth in consumption and generation of data and the presence of dominant domestic players in the region are the significant factors influencing the demand for the global digital rights management market for the next five years. The surge in the number of consumers investing in digital data platforms and the massive number of consumers subscribed to online digital platforms are expected to contribute to market growth.
Major market players operating in the global digital rights management market are:
- Adobe
- Apple Inc.
- Dell Inc.
- DivX, LLC.
- Fasoo
- IBM Corporation
- Microsoft Corporation
- NEXTLABS INC.
- Oracle Corporation
- Sony Corporation
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“The growing popularity of online gaming and online streaming is expected to create lucrative opportunities for the global digital rights management market. Also, the implementation of blockchain technology in digital rights management solutions increases the flexibility of software to work as a distributed system and, therefore, is considered a cost-effective solution for the organization. The introduction of digital rights management solutions integrated with blockchain technology and technical innovations, and system updates are expected to propel the growth of the global digital rights management market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Digital Rights Management Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Application (Mobile Content, Mobile Gaming, Video-On-Demand and Others), By Enterprise Size (Small & Medium Enterprises and Large Enterprise), By Industry Vertical (BFSI, Healthcare, Printing & Publication Educational, Television & Film and Others), By Deployment Mode (On-Premises, Cloud), and By Region”, has evaluated the future growth potential of global digital rights management market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global digital rights management market.
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