Market Research Report
Digital Rights Management Market by Component (Solutions and Services), Application (Audio Content, Images, Video Content, Confidential Documents, Software & Games), Deployment Mode, Vertical, Organization Size and Region - Global Forecast to 2027
|Digital Rights Management Market by Component (Solutions and Services), Application (Audio Content, Images, Video Content, Confidential Documents, Software & Games), Deployment Mode, Vertical, Organization Size and Region - Global Forecast to 2027|
Published: July 21, 2022
Content info: 257 Pages
Delivery time: 1-2 business days
The global digital rights management market size is projected to grow from USD 4.3 billion in 2022 to USD 7.9 billion by 2027, at a CAGR of 13.0% during the forecast period. The presence of various key players in the ecosystem has led to competitive and diverse market. Need to protect intellectual property and increased vulnerability to cyberattacks are expected to drive the adoption of the digital rights management market in the future. A firm or user can easily copy information from someone else's eBook and relaunch it as their own. It is feasible to prevent anyone from modifying content using DRM; therefore, these organizations are adopting digital rights management solutions to protect their content from unauthorized sharing. According to a SonicWall Cyber Threat report 2022, ransomware attacks doubled in 2021, leaping to 105% as compared to year 2020.
"By component, the solutions segment is expected to account for a larger market size during the forecast period."
DRM solutions address critical business issues related to the storage, discovery, management, distribution, and analysis of business-related digital information, such as images, designs, audios, videos, and content. Various companies such as Digify, Seclore, CapLinked, and Vitrium Security offer DRM solutions that allow content owners and publishers to protect their digital content. The increasing cyber-attacks have driven the need for DRM solutions. The demand for DRM solutions is growing rapidly due to the growing need to protect digital documents to ensure secure content distribution. According to the US Chamber of Commerce's Global Innovation Policy Center, the US economy's online piracy cost is approximately USD 30 billion annually. The rising online attacks and use of the internet and smartphones enforced companies to deploy DRM solutions to protect content.
"By organization size, the large enterprises segment is expected to grow with the highest CAGR during the forecast period"
To manage the data of the large customer base of large enterprises, various companies are adopting DRM solutions rapidly. Large enterprises mainly focus on serving their customers and improving their overall journey with the firm to efficiently cater to a huge number of customers, which drives the growth of this market. The increasing cloud adoption in large enterprises has increased the concern about data protection in the cloud. Thus, large enterprises invest heavily in developing strong data and content protection systems to improve their business-related data security.
"Asia Pacific to register the highest growth rate during the forecast period"
The investment and participation of Asia Pacific in the development of DRM technology has made the region a hotspot for this industry. Asia Pacific consists of technologically advanced and developing countries such as China, Japan, South Korea, Australia, Hong Kong, Singapore, and others. Government initiatives are the major growth drivers of the DRM market in Asia Pacific. The growing eCommerce, online streaming, and increasing internet penetration have resulted in the growth of marketing industries. In India, with Amplify.ai's powerful conversational AI, MyGov managed to create an effective campaign that helped in delivering accurate and relevant information to citizens promptly, bridging the information gap that fake news was creating.
Breakdown of primaries
The major players covered in the digital rights management report include Adobe Systems (US), Google LLC (US), Microsoft Corporation (US), Apple (US), Oracle (US), IBM (US), Irdeto (Netherlands), OpenText (Canada), Kudelski Group (Switzerland), Sony Corporation (Japan), VeriSign Inc (US), Acquia (US), OVHcloud (France), and HelpSystems (US). The startup/SME's covered in the digital rights management market are Vitrium Systems (Canada), NextLabs (US), Verimatrix (France), Seclore (US), Digify (US), Bitmovin (US), EditionGuard (US), EZDRM (US), Intertrust Technologies (Us), ArtistScope (Australia), CapLinked (US), and Bynder (Netherlands). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the digital rights management.
The market study covers the digital rights management market size across different segments. It aims at estimating the market size and the growth potential across different segments, including application, component, deployment, organization size, application, vertical, and region. The study further includes an in-depth competitive analysis of the leading market players, along with their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global digital rights management market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.