High demand for subscription-based entertainment tools and growing popularity of online gaming are expected to drive the demand of Vietnam digital rights management market through the forecast period, 2023-2027.
According to TechSci Research report, “Digital Rights Management Market – Vietnam Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the Vietnam digital rights management market is expected to grow at a steady CAGR in the forecast period, 2023-2027. The major market drivers are an increase in the monetization of digital content and a rise in use and developments to use the internet as a platform for business.
Digital rights management is crucial to protect against unwanted and uncontrolled copying of products. It ensures no authorized access to the online platform by checking the correct license template entered by the user. The owners can also set specific rights, allowing that file to not be opened even when it is shared and copied by users.
However, the lack of awareness about digital rights management solutions may restrain the market growth in the forecast period.
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The Vietnam digital rights management market is segmented into application, end user, deployment, industry vertical, regional distribution, and company.
Based on end user, the market is divided into SME and large enterprises. Large enterprises are leading the market and are expected to hold the largest market share for the next five years. Large enterprises generate vast amounts of data daily and allocate vast amounts of funds for data protection and privacy. Companies want real-time access to the business data along with transmission and storage of data across mobile devices, Universal Serial Bus (USBs), cloud, and disks as they provide the facility of bringing your own device to employees. Businesses are opting for flexible work culture models to increase productivity, which is expected to fuel the demand for digital rights management solutions.
Based on deployment, the market is bifurcated into on-premise and cloud. Cloud solutions are expected to grow at the highest CAGR in the forecast period as they are highly secure, flexible, and adaptable compared to the on-premises model. It requires less investment than the on-premises model, eliminating the need to invest in capital infrastructure. Enterprises are actively adopting cloud-based solutions due to the growing amount of data generation, making cloud-based deployment more convenient. Therefore, cloud-based solutions are considered more convenient and cost-effective than the on-premises model, which is expected to fuel the market demand for the next five years.
Based on industry vertical, the market is divided into healthcare, music, education, BFSI, legal/law, printing and publication, television and film, and others. The television and film industry is expected to witness the fastest incremental growth in the next five years owing to the increase in the consumption of digital media and expansion of the consumer base of online content are significantly influencing the market demand. The digital platform takes all necessary steps to protect the data from getting violated to avoid monetary losses. They are adopting data privacy and protection methods, thereby creating the demand for digital rights management solutions.
Major market players operating in the Vietnam digital rights management market are:
- Apple Inc.
- Adobe Systems
- EMC Corporation
- Hewlett-Packard
- IBM
- Microsoft Corporation
- Oracle Corporation
- Realnetworks, Inc.
- Sony Corporation
- Verisign Inc
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“The massive rise in the number of smartphones and smart devices users is increasing the accessibility of digital media for mobile devices. Increasing adoption of novel technologies such as the internet of things, blockchain technology, and the launch of innovative digital rights management solutions by the market players are expected to create lucrative opportunities for the Vietnam digital rights management market. Availability of local digital rights management solutions market players is expected to attract foreign digital media players and organizations which is expected to propel the Vietnam digital rights management market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Digital Rights Management Market – Vietnam Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Application (Mobile Content, Video on Demand, Mobile Gaming, eBook, others), By End User (SME and Large Enterprises), By Deployment (On Premise and Cloud), By Industry Vertical (Healthcare, Music, Education, BFSI, Legal/Law, Printing and Publication, Television and Film, Others), and By Region”, has evaluated the future growth potential of Vietnam 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 Vietnam digital rights management market.
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