Digital Rights Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast | Growth Market Reports

The global digital rights management market is projected to expand at a substantial CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the successful monetization of digital content and evolution in internet for trade and business purpose.

Digital rights management (DRM) refers to a system designed to stop uncontrolled and unwanted copying of digital products or services. DRM technology ensures that a digital content or file such as video or audio cannot be used or accessed if the correct license template (key) is not granted against the users. Using DRM solutions, a file can be set under special right and other users cannot opened these files even if they are being shared. With a series of technological development, the right or patent owners can use the system to manage and control both intangible and tangible assets by ensuring that they are safe from unauthorized access.

Rising need for DRM solution can be attributed to increasing content marketing and digital broadcasting adopted by various enterprises in views to promote their services and products. To ensure the protection of content, companies use DRM by using restrictive licensing agreements and encryption technology to help in the prevention of copying or printing of files without the permission of the content owners.

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Market Trends, Drivers, Restraints, and Opportunities

• Rapid access to the Internet of Things (IoT) due to wide use of smart devices especially smart phones and laptops is projected to drive the market growth.
• Growing incidence of cyber security violation and rising unauthorized access to digital contents are key drivers that propel the demand for DRM solution.
• Increasing awareness for content protection and effective preventing of web page from various malicious practices from third party users are boosting the adoption of DRM solution.
• High cost of DRM solutions and lack of awareness about difference between DRM and encryption are major restraints that can hamper the market growth.
• Technological innovation and rising adoption of block chain-based DRM systems are expected to create immense opportunities for the market expansion.

Global Digital Rights Management Market Segment Insights

Video on demand segment is holding a key share

Based on applications, the global digital rights management market is divided into mobile content, video on demand (VoD), mobile gaming, eBook and others. The VoD segment is expected to hold a key share of the market during the forecast period owing to rising number of platforms providing video on demand services. Moreover, the rising use of smart phone and other electronic devices along with high access to IoT present major drivers for the segment growth. DRM solution is widely used for encoding videos for VoD and helps to protect the content of videos along with playback and smooth delivery options. On the other hand, the mobile gaming segment is anticipated to register a high CAGR during the forecast period owing to rising development of new mobile-based video games and increasing number of video game users. Mobile games are easily transferred from one device to other and can also be downloaded from different app stores. DRM solutions protect free transfer of games to other devices.

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Regional Outlook

In terms of regions, the market is classified as Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The market in Asia Pacific is projected to grow at a rapid growth in the coming years owing to rising consumers using smart phones and other electronic in the region. As per a data, Asia Pacific constituted half the number of the total number of global smartphone users which was approximately 3.5 billion in 2018. Growing digital media accessibility using mobile devices and existing large consumer base of the region present key driving factors for the regional market growth. Across the region, consumers are increasingly adopting OTT, IoT, and IPTV technology due to rising number of digital platform service providers. For instance, an Indonesia-based OTT service provider, Mola.tv has secured its services in February 2020 by using the Verimatrix Multi-DRM solution. This DRM solution protects VoD and live content streamed by Mola.tv.

North America is projected to hold a large market share in the coming years owing to the rising popularity of digital contents and extensive adoption of new technology among several enterprises based in the region. Rapid growth in the entertainment and media sector especially in the US play an important role for boosting the regional market growth. The country has a large number of online video subscriptions that has a market value worth USD 182 million in 2018 with CAGR of 15% year on year.

Competitive Landscape

The key players in global digital rights management market are Apple Inc., DivX LLC, Adobe Systems Incorporated, HP Labs, EMC Corporation, Oracle Corporation, Microsoft Corporation, Sony Corporation, Vobile Inc., and RealNetworks Inc. Some of these key players are implementing numerous strategies such as partnerships, new product development and capacity expansions, expansion of their product portfolio, and product innovations.

Microsoft released Windows 10 builds 18363.752 and 18362.752 in March 2020. These builds had come up with multiple of fixes and helped updates the performance issue in applications when the content is being protected by DRM. Seclore launched its new technology, O365 in January 2020 with an aim to provide enhanced data protection while integrating its rights management platform with Microsoft O365 platform.

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