The global digital rights management market size is projected to grow at a CAGR of 21.3% over the forecast period. The digital rights management market is driven by the rising concerns about data loss and theft which acts as a driver as the demand for digital rights management is increasing.
The present and future digital rights management market progress are summarized to conclude the attractiveness of the entire market. Also, the prime factor that influences the digital rights management market opportunities is the popularity of over-the-top content. Furthermore, mounting requirements for saas-based solutions and government support and investments is the key factor driving the market growth for the digital rights management market.
Also, the extensive generation of web-based data results in the increase of demand for solutions pertaining to reformation of secured data access and its management is another factor driving the market growth. Furthermore, the increasing array of content available over the internet has also afforded the consumers and businesses more options, which has motivated intellectual property holders and content owners to protect their content is likely to provide lucrative development opportunities for the digital rights management market in the forthcoming years.
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.
In terms of the organization size, the market is bifurcated into large enterprises, and small and medium enterprises. 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.
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., General Electric, Cyber Optic Group, and Integrated Facilities Solutions. 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
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