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Digital Rights Management Global Market Report 2024 - By Trends, Share, Size, Demand, Outlook By 2033
Digital Rights Management Market
The digital rights management market size is expected to see rapid growth in the next few years. It will grow to $11.35 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to rising cyber threats, cross-platform compatibility, personalized content delivery, hybrid content models, focus on content security. Major trends in the forecast period include cloud-based DRM solutions, integration with analytics, blockchain for DRM, subscription and streaming services, collaboration with AI and machine learning, augmented and virtual reality (AR/VR).
Market Overview -
Digital rights management (DRM) is a method of protecting digital media copyrights. This approach includes the use of technologies that limit the copying and use of copyrighted works and proprietary software. Digital rights management allows authors, movie professionals, musicians, and other creators to prevent unauthorized use of their content.
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Escalating Security Concerns Propel Robust Growth In The Digital Rights Management Market
Increasing security concerns have contributed to the growth of the digital rights management market. The extensive use of PCs and laptops has led to an increase in the number of hackers who intrude into corporate and government networks to access and steal critical information for monetary and business gains. Additionally, corporations are looking for a real-time approach to business data along with transmitting and storing data across mobile devices, the cloud, universal serial bus (USB), and disks. For instance, according to the InfoSecurity reports, ransomware damages are expected to exceed $30 billion globally in 2023. This number is still set to rise as cyberattacks are becoming more complex and difficult to detect. Digital rights management is also used by healthcare organizations and financial services firms to ensure compliance with data privacy and protection standards such as HIPAA (Health Insurance Portability and Accountability) and Gramm-Leach-Bliley Act (GLB Act or GLBA). Hence, the rise in security concerns is expected to create avenues for market growth in the digital rights management market.
Competitive Landscape -
Major companies operating in the digital rights management market report are Apple Inc., Alphabet Inc., Microsoft Corporation, Sony Corporation, International Business Machine Corporation, Oracle Corporation, Canto Inc., OpenText Corporation, Intralinks Holdings Inc., Kudelski Group, Irdeto B.V., Bynder, BuyDRM Inc., EditionGuard LLC, Vera Security Inc., Fasoo Inc., Intertrust Technologies Corporation, NextLabs Inc., Conax AS, Adobe Systems Incorporated, Verimatrix Inc., Seclore Technology, Bitmovin Inc., Vaultize Technologies Private Limited, Vitrium Systems Inc., FileOpen Systems Inc., Digify Inc., CapLinked Inc., EZDRM Inc., Locklizard Limited, Verance Corporation, MediaSilo Inc., Cinedigm Corp., Friend MTS Ltd.
Advancements In Data Security Technologies Transforming The Digital Rights Management Landscape
The advancements in data security technologies are gaining popularity in the digital rights management market. Digital rights management permits publishers or authors to regulate what paying users can do with their works. Technological advancements such as deceptive network technology and the adoption of end-to-end encryption further secure sensitive data from cyber-attacks. For instance, in February 2021, RAIR Technologies Inc., launched a decentralized digital rights management platform, built to power digital scarcity for creators.
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Key Segments -
The digital rights management market covered in this report is segmented -
1) By Application: Mobile Content, Video On Demand, Mobile Gaming, eBook, Other Applications
2) By End Users: SMEs, Large Enterprise
3) By Industries: Healthcare, Music, Education, BFSI, Legal/Law, Printing And Publication, Software, Television And Film, Other Industries
4) By Deployment Mode: On-Premise, On Cloud
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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