The Digital Rights Management (DRM) Market was created to prevent unintentional and uncontrolled product copying. If the right licensing template (key) is not provided, DRM technology assures that the file cannot be utilized. The files can be copied and shared with other users, but they cannot be accessed; DRM solutions can also be used to define certain privileges. Factors such as increased internet usage and the proliferation of smart gadgets are driving the worldwide DRM industry. Companies are focused on new technologies, such as blockchain-based DRM solutions, that can help speed up DRM adoption. The new coronavirus epidemic has prompted lockdowns in numerous nations in try to contain the virus. As OTT players re-vamp their content plans to suit demand from every genre, this resulted in an increase in OTT viewing.
The global digital rights management market size was estimated to reach over USD 2678.9 million in 2020 and projected to grow at a CAGR of 21.3% over the forecast period. This can be ascribed to growth in internet usage and increase in the demand for wireless/smart devices. It offers new opportunities for key players operating in the global digital rights management market. Besides, mounting requirements for saas-based solutions and government support and investments is affecting the market in a positive manner.
However, lack of a common standard is hampering the market growth. Furthermore, mounting requirements for saas-based solutions and government support and investments is likely to provide lucrative development opportunities for the digital rights management market in the forthcoming years.
Digital Rights Management Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 2678.9 million|
|Growth Rate||CAGR of 21.3% during 2021-2028|
|Segment Covered||Application, Organization Size, End Use, Regions|
|Regions Covered||North America, Europe, Asia Pacific, LAMEA|
|Key Players Profiled||Apple Inc, DivX LLC, Adobe Systems Incorporated, HP Labs, EMC Corporation, Oracle Corporation, Microsoft Corporation, Vobile Inc. RealNetworks Inc., Sony Corporation, Fasoo Inc., Dell Technologies Inc., Dell Technologies Inc., and General Electric.|
Key Segments of the Global Digital Rights Management Market
Application Overview, 2021-2028 (USD Million)
- Mobile Content
- Video On Demand
- Mobile Gaming
Organization Size Overview, 2021-2028 (USD Million)
- Large Enterprise
- Small and Medium Enterprise
End Use Overview, 2021-2028 (USD Million)
- Media and Entertainment
- IT & Telecommunication
Regional Overview, 2021-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- South America
- Middle East
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global digital rights Management market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global digital rights management market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the digital rights management market industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Application, Organization Size and End User. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global digital rights management market. The report will benefit every stakeholder involved in the digital rights management market.
- Managers within the digital rights management market industry looking to publish recent and forecasted statistics about the global digital rights management market.
- Government, regulatory authorities, policymakers, and organizations looking for investments in trends of the global digital rights management market.
- Analysts, researchers, educators, strategy managers, and Government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
Digital rights management (DRM) is the access control technology used to secure policies over the internet and to restrict usage of registered hardware and copyrighted content. DRM technology enables enterprises to regulate the usage, variation, and distribution of copyrighted works such as software and multimedia content as well as systems within devices that enforce these policies. With the increase in dependency on internet, growth in usage of smart devices has resulted in need for an efficient digital rights management solution
Rise in high-value broadband paid content is expected to help prevent content replication. The transformation of internet from a free, advertising based model into a pay & use model has favorably impacted the digital rights management market. Increase in the number of companies monetizing the content, piracy, and unauthorized use of digital information, along with fears over theft are the factors expected to propel DRM market growth over the forecast period. Growing need for content consumption transparency as a requirement for safeguarding the revenue streams is also anticipated to fuel the adoption of digital rights management protection strategies.
However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Based on the applications segment, the market is classified into mobile content, video on demand, mobile gaming, eBook, and others. The mobile content segment is expected to grow significantly over the forecast period. The growing use of smart phones generates a massive volume of confidential data containing sensitive information. As a result, several data security risks arise. Mobile material is protected from cyber-attacks using digital right management (DRM) systems.
Organization Size Type Segment
Based on the organization size, the market is segmented into large enterprises, and small and medium enterprises (SMEs). The SME segment is expected to increase rapidly, over the forecast period. SMEs are quickly embracing digital rights management solutions due to their simplicity and flexibility; demand is expected to rise during the forecast period. The benefits of digital rights management solutions, such as seamless scalability, flexibility, lower operational costs, and customized offers based on business goals, are pushing SMEs to adopt them.
End User Segment
Based on the industry vertical, the market is segmented into media & entertainment, banking, financial services, and insurance (BFSI), education, healthcare, it & telecommunication, others. The media & entertainment segment is anticipated to hold largest market share among others over the forecast period. Owing to the rising digital content consumption and an expanding subscriber base for online content-based publishers, fueling the demand for the DRM in media & entertainment segment. Digital content providers strive to reach the broadest possible audience while simultaneously adhering to the major studios' content protection standards. They intend to implement scalable and resilient DRM systems with a worldwide reach.
The Asia-Pacific region is expected to grow at fastest rate over the forecast period. Since 2010, the region's tremendous growth in smartphones and other mobile devices has fueled demand for digital media accessibility in mobile devices. According to Cisco, the region's smartphone user base is nearly half that of the global smartphone user base, which surpassed 3 billion in 2018. The adoption of IPTV, OTT, and IoT technologies is skyrocketing among consumers throughout the region. Furthermore, Asia-Pacific has a larger customer base than the other regions, which is helping to drive demand for the DRM market during the forecast period.
The major players of the global Digital Rights Management Market are Apple Inc, DivX LLC, Adobe Systems Incorporated, HP Labs, EMC Corporation, Oracle Corporation, Microsoft Corporation, Vobile Inc. RealNetworks Inc., Sony Corporation, Fasoo Inc., Dell Technologies Inc., Dell Technologies Inc., and General Electric. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic solution and to remain competitive in the global market.