Summary
Major players in the digital rights management market are Adobe Systems, Apple Inc., Dell EMC Corporation, Oracle Corporation, Microsoft Corporation, Fasoo Inc., Seclore Technology, Sony Corporation, Verisign Inc, Hewlett-Packard, Vera Security Inc, Vitrium Systems Inc., Nextlabs Inc., Intertrust Technologies Corporation, and Vobile Inc.
The global digital rights management market is expected to grow from $3.80 billion in 2021 to $4.50 billion in 2022 at a compound annual growth rate (CAGR) of 18.47%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $8.64 billion in 2026 at a CAGR of 17.68%.
The digital rights management market consists of sales of digital rights management products and related services by entities (organizations, sole traders, and partnerships) that are used to protect the rights of the copyright owner and prevent unauthorized modification or distribution. Digital rights management permits publishers or authors to regulate what paying users can do with their works.
The main applications of digital rights management are mobile content, video on demand, mobile gaming, eBook, and others.The mobile content digital rights management refers to the collective methods and technologies which provide safe distribution of subject and media on mobile devices.
It offers approaches for mobile content creators to implement policies, limitations, and protection against duplication on mobile devices.The end users of digital rights management include SMEs and large enterprises.
Digital rights management is used by industries such as healthcare, music, education, BFSI, legal/law, printing and publication, software, television and film, and others though on-premise and on cloud deployments modes.
North America was the largest region in the digital rights management market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing security concerns 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 thieve critical information for monetary and business gains.
Additionally, corporations are looking for real-time approach to business data along with transmitting and storage of data across mobile devices, cloud, universal serial bus (USB), and disks.For instance, according to the 2021 Cyber Threat Report by SonicWall, there is a 62% increase in Ransomware since 2019.
This number is still set to rise more as cybersecurity attacks are turning 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/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 digital rights management market growth.
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.
In September 2021, Hewlett Packard Enterprise, a US-based edge-to-cloud company, acquired Zerto, a production leader in cloud data management and security for a deal value of $374 million.This acquisition positions the HPE GreenLake edge-to-cloud platform in the high-growth data protection market with a proven solution and further propels HPE’s storage business into a cloud-native, software-defined data services business.
Zerto is a US-based industry leader in cloud data management and protection.
The countries covered in the Digital Rights Management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
