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Digital Rights Management In Media And Entertainment Market Size Projected To Reach $8.24 Billion By 2034 With A Cagr Of 19.8%
Digital Rights Management In Media And Entertainment
What Is the Projected Growth of the Digital Rights Management In Media And Entertainment Market?
The market size of digital rights management in media and entertainment has seen swift expansion in the last few years. The growth is expected to increase from $3.42 billion in 2024 to about $4 billion in 2025, with a compound annual growth rate (CAGR) of 17.2%. This growth during the historical period can be traced back to factors such as the transition to digital distribution, worldwide content globalization, the emergence of various content formats, a surge in online streaming, the need for intellectual property protection, and a rise in consumer demand for access.
In the coming years, the market size for digital rights management in media and entertainment is set to experience a rapid expansion. The market is projected to reach $8.24 billion in 2029, growing at a compound annual growth rate (CAGR) of 19.8%. The predicted growth during this period arises from factors such as the advent of new content platforms, the surge of user-generated content, cross-platform content usage, increased investment in content, attention on data privacy, and evolving content delivery models. Important trends to watch in the forecast period encompass cloud-based DRM solutions, the use of blockchain for improved security, cross-platform compatibility, the application of AI and machine learning in content monitoring, standardized DRM solutions, and strategies for multi-channel distribution.
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What Are the Different Digital Rights Management In Media And Entertainment Market Segments?
The digital rights management in media and entertainment market covered in this report is segmented -
1) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
2) By Application: Mobile Content, Video On Demand (VoD), Mobile Gaming And Apps, eBook
3) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI), Healthcare, Printing And Publication Educational, Television And Film
Subsegments:
1) By Small And Medium Enterprises (SMEs): Small Enterprises, Medium Enterprises
2) By Large Enterprises: Global Corporations, Regional Corporations
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What Are the Primary Drivers Shaping the Digital Rights Management In Media And Entertainment Market?
The surge in the need for over-the-top (OTT) content is predicted to fuel the expansion of digital rights management in the media and entertainment industry. OTT is the process of delivering digital entertainment content, like movies, via the internet, tailored to the desires and needs of individual customers. Digital rights management plays a significant part in OTT by helping content owners imply content access rules, thereby restricting customers from replicating or altering content into different media formats. These access guidelines are set by content owners and dictate the terms of content accessibility and utilization. To illustrate, Ormax Media, an Indian company renowned for audio equipment and solutions, reported in November 2023, that the total viewership for OTT platforms had swelled to over 481 million, a 13.5% growth compared to the predicted 424 million in 2022. Hence, the burgeoning demand for OTT content is prompting the rise of digital rights management in the media and entertainment industry.
Which Companies Are Leading in the Digital Rights Management In Media And Entertainment Market?
Major companies operating in the digital rights management in media and entertainment market include Google LLC, Microsoft Corporation, Irdeto BV, Apple Inc., Vitrium Systems Inc., Bitmovin Inc., Kudelski Group, Intertrust Technologies Corporation, BuyDRM Inc., EditionGuard LLC, EZDRM Inc., Verimatrix Inc., Oracle Corporation, Fasoo Inc., International Business Machines Corporation, NextLabs Inc., Sony Corporation, Adobe Systems Incorporated, Conax AS, Locklizard Limited, OpenText Corp, Seclore Technology, Vera Security Inc., Amazon Web Services Inc., Akamai Technologies Inc., Brightcove Inc., Cisco Systems Inc.
What Are the Major Trends Shaping the Digital Rights Management In Media And Entertainment Market?
The rise of technological innovation is becoming a significant trend in the digital rights management sector within the media and entertainment industry. Key players in this market are creating sophisticated technologies and software to ensure they maintain their market position. For example, in April 2023, Amazon Web Services (AWS) - a U.S. based firm offering cloud computing services on-demand - introduced a complimentary AWS Learning Plan and Digital Badge focusing on Media and Entertainment (M&E) for Direct-to-Consumer (D2C) and Broadcast Foundations. This AWS-devised learning plan provides instruction to executives, industry professionals, and technologists on the AWS services and efficient practices to implement in Broadcast and Direct-to-Consumer (D2C) cloud-based operations.
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What Are the Top Revenue-Generating Geographies in the Digital Rights Management In Media And Entertainment Market?
North America was the largest region in the digital rights management in media and entertainment market in 2024. The regions covered in the digital rights management in media and entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Digital Rights Management In Media And Entertainment Market?
2. What is the CAGR expected in the Digital Rights Management In Media And Entertainment Market?
3. What Are the Key Innovations Transforming the Digital Rights Management In Media And Entertainment Industry?
4. Which Region Is Leading the Digital Rights Management In Media And Entertainment Market?
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