The global digital rights management market is estimated to rise from USD 2,987 million in 2018 to reach USD 7,899 million by 2025, as per the report and accounting at a CAGR of 16.7% between 2019 and 2027.
The digital rights management market is prospering with the continuous acceptance of digital rights management solution in the BFSI sector. The BFSI sector is flourished by several perks offered by digital rights management solutions like data encryption, access to confidential documents on authorized personnel’s individual tablets and smartphones, etc. These solutions are being emphasized by several financial organizations for securing data together with recognizing and preventing data thefts. Custom-made solutions are provided by top market players like Oracle Corporation to banks and other financial institutes. Moreover, the requirement for these solutions is influenced by enhanced IT investments by financial institutes, such as Bank of America, JP Morgan, Morgan Stanley, Citigroup, etc. However, an adverse impact on this market may be caused due to the paucity of awareness about the usage of technology. Whereas, the increasing need for cloud-based deployment is enhancing the demand for DRM solutions, which will globally fuel the digital rights management market within the forecast period.
Digital rights management (DRM) refers to the access control technology needed to protect policies over the internet and to prohibit use of registered hardware and copyrighted content. The use, variation, and distribution of copyrighted works like software and multimedia content as well as systems within devices that impose these policies for enterprises are managed by DRM technology. Rise in usage of smart devices has lead to requirement for an adequate digital rights management solution due to enhanced reliance on internet. Normally, a person having the authorization for a product can readily copy as well as sell the content within no time. Thus, differentiating and stopping these transactions is a tough task. Major enterprises apply effective DRM solutions for regulating and controlling the movement of digital files over the internet, so that data can be accessed by the authorized licensee.
This report covers a detailed competitive analysis and profiles of prominent Digital Rights Management Market players including IBM Corporation, Cyber Optic Group, Oracle Corporation, General Electric, Integrated Facilities Solutions, SAP Digital Inc., Axtia Technologies, Union Financial Technologies, HP Development Company, L.P., and Adobe Systems, Inc.
In the forthcoming years, it is estimated that requirement for digital right management solutions would hike in the Middle Eastern and African region. This growth can be witnessed with rising acceptance of technology by the retail sector owing to the enhanced online retail sales in the UAE and Saudi Arabia. Hence, for protecting and preventing any duplication of digital content, online retailers in the UAE are prefering DRM solutions.
This report segments the global digital rights management into:
Global Digital Rights Management Market: Deployment Analysis
Global Digital Rights Management Market: Component Analysis
Global Digital Rights Management Market: Application Analysis
• Video on Demand
• Digital Content
Global Digital Rights Management Market: End-Use Industry Analysis
• Government Sector
• Media and Entertainment
Global Digital Rights Management Market: Regional Analysis
• North America
o The U.S.
• Asia Pacific
• Latin America
• The Middle East and Africa
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