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.
Digital rights management (DRM) is a systematic method of copyright protection for digital media. DRM's goal is to prevent unauthorised digital media redistribution and to limit how consumers can copy items they've purchased. Authors, musicians, filmmakers, and other content creators can use digital rights management to prevent unauthorised use of their work. It can also assist them in retaining profits and maintaining control over their product distribution. The use of digital rights management can be used to control access to confidential information.
Government legislations, standards, and regulations governing intellectual property rights, combined with the growing popularity of over-the-top content (OTT) delivery over an unmanaged or open internet network, are expected to drive the growth of the digital rights management (DRM) market. Digital rights management software is used to control the use and further dissemination of proprietary material through encryption technology and strict licencing agreements.
Increased internet usage and the proliferation of smart devices are driving the global DRM industry. There are additional barriers and restrictions impeding industry growth, such as a misunderstanding of the difference between encryption and DRM. The global Digital Rights Management market offers opportunities for a wide range of DRM applications in a variety of industries.
The report also emphasizes several distinctiveness of the global digital rights management industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the digital rights management industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The digital rights management market has tough competition among the new emerging and pre-established market vendors. Besides, the digital rights management industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
The media and entertainment segment is expected to have the largest market share, over the forecast period. Rising digital content consumption and an expanding subscriber base for online content-based publishers are driving demand for DRM in the media and entertainment sector. Digital content providers strive to reach the greatest number of people while adhering to the major studios' content protection standards. They intend to deploy scalable and resilient DRM systems with global reach.
The Asia-Pacific region is expected to grow at the fastest rate, over the forecast period. The region's tremendous growth in smartphones and other mobile devices since 2010 has fueled demand for digital media accessibility in mobile devices. According to Cisco, the smartphone user base in the region is nearly half that of the global smartphone user base, which surpassed 3 billion in 2018. Consumers throughout the region are rapidly adopting IPTV, OTT, and IoT technologies. Furthermore, Asia-Pacific has a larger customer base than the other regions, which is driving 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, Microsoft Corporation, Oracle Corporation, Vobile Inc. RealNetworks Inc., and others. Renowned companies are offering new and modern Digital Rights Management software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Digital Rights Management Market
Applications Overview, 2019-2028 (USD Million)
- Mobile Content
- Video on Demand
- Mobile Gaming
Organization Size Overview, 2019-2028 (USD Million)
- Large Enterprises
- Small and Medium Enterprises (SMEs)
Industry Vertical Overview, 2019-2028 (USD Million)
- Media & Entertainment
- Banking, Financial Services, and Insurance (BFSI)
- IT & Telecommunication
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America