Market Research Report
Global Digital Rights Management Market Size, Share & Industry Trends Analysis Report By Enterprise Size, By Application (Video-on-demand, Mobile Gaming, Mobile Content), By Vertical, By Regional Outlook and Forecast, 2021 - 2027
|Global Digital Rights Management Market Size, Share & Industry Trends Analysis Report By Enterprise Size, By Application (Video-on-demand, Mobile Gaming, Mobile Content), By Vertical, By Regional Outlook and Forecast, 2021 - 2027|
Published: March 31, 2022
Content info: 242 Pages
Delivery time: 1-2 business days
The Global Digital Rights Management Market size is expected to reach $15.2 billion by 2027, rising at a market growth of 22.5% CAGR during the forecast period.
The method of ensuring safety for digital media is known as digital rights management. The major goal of digital rights management is to prevent unauthorized distribution of digital media content and the imposition of content copy limitations. It is an access control technology that is used to secure internet policies. The methods that implement these regulations benefited businesses by allowing them to control the modifications & distribution of intellectual value. It's widely used in mobile games and multimedia, among other things.
With encryption technology and tight licensing agreements, digital rights management software is used to control the consumption further dissemination of proprietary materials. The software disables printing and copying, limiting the number of devices on which digital media can be loaded and, as a result, restricting access to a variety of publications. Digital rights management is concerned with a company's digital content, which contains sources, as well as details on where the digital file came from and the extent and range of the accompanying right of access.
The power for relicensing and repurposing across numerous projects is further delineated by the digital rights management strategy, which tracks whether creative content is acquired or generated in-house. Bring-your-own-device policies are expected to be implemented by a variety of enterprises. As a result of the massive development of web-based data, there is a greater demand for solutions relating to the reformation of secure data access and administration. For organizational web-contents to be posted on the website, optimal uniformity and management are essential; as a result, the demand for access control is likely to drive the Digital Rights Management market.
Continuous improvements in data security technologies, like end-to-end encryption, have enabled encryption suppliers to provide stronger data security solutions to protect against increased commercial eavesdropping and cyber-attacks. Enhanced DRM solutions have been offered by third-party service providers and cloud service providers to best serve the needs of business and government entities. The importance of Digital Rights Management Market applications is huge among businesses, which means that encryption suppliers, third-party service providers, technology providers, and cloud service providers have a lot of opportunities.
The outbreak of the COVID-19 pandemic has affected various domains of the business industry. The imposition of various restrictions like lockdown has impacted the growth of various industries. During the COVID-19 pandemic, there was a trend toward people staying at home as a result of different home quarantine measures and ordinances established by different countries & municipal governments.
This new trend led to a drastic shift in the online activity of those who were housebound. Canadians over the age of 15 raised their internet time by far more than 75% during the first three months of 2021, according to a Statistics Canada survey. As a result of the dread of COVID-19, similar trends were detected in other areas of the globe.
Market Growth Factors
Increasing Demand for OTT Content Delivery and rising growth of Digital Content.
In the present entertainment sector, the over-the-top content delivery paradigm is now the most popular. YouTube has become a significant tool for the entertainment industry to achieve and sustain their fans, with even more than 500 hours of video posted every minute and over 2 billion monthly users. Furthermore, premium OTT media companies such as Amazon Prime, Netflix, Hulu, Disney Plus, and others allow viewers to watch high-budget material from the comfort of their own homes. This is assisting the rise of OTT platforms, which permit many digital rights management policies to protect and monetize their content, contributing to the digital rights management industry's growth.
Corporate requirements to safeguard their data.
Digital rights management solutions can be used by businesses to restrict access to sensitive data. These digital rights management solutions can help businesses control access to sensitive information while yet permitting it to be securely distributed within the enterprise and with parties concerned. Furthermore, using digital rights management technology makes things simpler for auditors to examine and detect data breaches or leaks. Digital rights management is sometimes known as information rights management or enterprise rights management in the commercial world. Healthcare and financial services industries employ DRM to assure adherence with data privacy and security regulations such as HIPAA (Health Insurance Portability and Accountability Act) and the Gramm-Leach-Bliley Act (GLB Act or GLBA).
Market Restraining Factors
High cost of a Digital Rights Management solution
The initial software license charge, annual maintenance fee, and deployment & development fee are all included in the cost of the Digital Right Management solution. A standard DRM might cost anything from $15,000 to $22,000 in total. For example, Adobe charges $10,000 for the initial license, $1,500 for annual maintenance, and $10,000-$15,000 for deployment and development. There are also more cost-effective options to digital right management technologies, such as password protection and watermarking. As a result, the market for digital right management may be restrained by high product costs throughout the upcoming years.
Enterprise Size Outlook
Based on Enterprise Size, the market is segmented into Large Enterprise, and Small & Medium Enterprise (SME's). Large enterprises segment dominated the digital rights management market with the largest revenue share in 2020. The generation of data in large enterprises is high, the content they deal in is spread across various team member and devices, which makes it important for them to adopt digital rights management in order to avoid unauthorized use of their content.
Based on Application, the market is segmented into Video-on-demand, Mobile Gaming, Mobile Content, and Others. The mobile content segment procured a significant revenue share in the digital rights management market in 2020. As the number of smartphones grows, so does the amount of sensitive information including sensitive data. Due to this, a slew of data security flaws emerge. Digital Rights Management (DRM) technology protects mobile material against cyber-attacks.
Based on Vertical, the market is segmented into Television & Film, Printing & Publication Educational, BFSI, Healthcare, Software, and Others. Television & Film segment acquired the maximum revenue share in the digital rights management market in 2020. It is due to the use of digital content, the rise in customer base for online content-based publishers, and increased demand for DRM in the media and entertainment segment. The companies operating in the television and film industry are the major users of digital rights management since they are more prone to content leak and copying of their digital content.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America dominated the digital rights management market in 2020 with the highest revenue share. This growth is owing to customers' increased adoption of IPTV, OTT, and IoT technologies. Mobile device advancements and the abundance of Online content have ushered in a world revolution in how consumers engage with and access web content. In North America, the increased need for a clearer viewing experience has resulted in the introduction of digital rights management solutions. Furthermore, acceptance of some well-established social media platforms such as YouTube, Facebook, Instagram, along with its security solutions in major companies embracing pre-existing security solutions on social media platforms, are assisting in the expansion of the regional market.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Apple, Inc. and Microsoft Corporation are the forerunners in the Digital Rights Management Market. Companies such as Adobe, Inc., Dell Technologies, Inc., Sony Corporation are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DivX, LLC, Fasoo, NextLabs, Inc., Adobe, Inc., Apple, Inc., Sony Corporation, IBM Corporation, Oracle Corporation, Microsoft Corporation, and Dell Technologies, Inc.
Strategies deployed in Digital Rights Management Market
Dec-2021: Dell Technologies came into a partnership with Amazon Web Services, an Amazon company. Together, the companies aimed to provide cyber recovery solutions to the consumer which would detach business-critical data from air-gapped cyber vault attacks, serving enterprise to product data and minimize risk after a cyberattack.
Nov-2021: NextLabs introduced SkyDRM 2021, the latest version of enterprise digital rights management. Through this launch, the company aimed to assign enterprise collaboration to keep it simple and secure. Additionally, it is applicable for premises deployment along with SaaS it can be executed within a week.
May-2021: Dell launched APEX Data Storage Services, at a virtual Dell Technologies World event. The product delivers compatible services around public, private, and edge location clouds along with single and subscription pricing online through APEX Console access point.
Apr-2021: Adobe introduced Adobe Experience Manager Assets Essentials, a new asset management tool. This tool offers a convenient administration experience to the enterprise team in the Adobe Experience Cloud rather than Adobe's current enterprise-centric asset management tool.
Apr-2021: Adobe released Real-time Customer Data Platform (CDP), the only enterprise application for the first-party data-driven customer acquisition and engagement. Through this launch, the company focused on helping the enterprise to manage unknown customer and known consumer data to handle the profile and journey of the consumer consistently in one system, without any third-party cookies.
Dec-2020: Adobe completed the acquisition of Workfront, the leading work management platform for marketers. This acquisition aimed to provide dominant enterprise access to a single screen to support governance, planning, and collaboration to unleash enterprise productivity as well as efficiency.
Jun-2020: Microsoft came into an agreement with Commvault, a recognized global enterprise software leader in the management of data. Together, the companies aimed to provide the most modernized cloud technologies and data protection offered by their companies. Moreover, this agreement would help Commvault, joint channel consumers, and partners clarify IT sectors with proven data protection solutions, enterprise-class through SaaS, and protected in the cloud.
Oct-2018: Sony Corporation, Sony Music Entertainment along with Sony Global Education introduced a rights management system for digital content that utilizes blockchain technology. The system is designed to manage specific rights-related information of written works, to exhibit time and date of electronic data was established. Moreover, the features of blockchains help to track verifiable information in a tough to fake way, allowing the consumer to verify and share the previous record as well as electronic data creation details.
Jun-2018: Adobe took over Magento Commerce, a market-leading commerce platform. Under this acquisition, the company focused on providing an end-to-end, single digital experience platform along with advertising, analytics, marketing, and content creation for B2C and B2B consumers.
Market Segments covered in the Report:
By Enterprise Size
Unique Offerings from KBV Research
List of Figures