The global digital rights management market is expected to garner US$ 17.8 Billion, exhibiting a CAGR of 13.5% during the forecast period from 2022-2032. The market is valued at US$ 5 Billion in 2022, against US$ 4.4 Billion in 2021. The growth of the market can be attributed to the rising demand for copyright protection among corporates to safeguard their content.
Also, with rapid growth in the usage of PCs and laptops, there have been various incidences of hacking that interfere with government and corporate networks to gain access to confidential details. With the increasing penetration of digital devices, data volume has increased significantly, thus, expanding the market size in the forecast period.
Also, the growing popularity of the BYOD trend among corporates has provided the impetus to the market expansion, offering various opportunities for real-time access to business information with a flexible work culture.
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In addition, with the increasing demand for OTT content, the market is likely to witness notable opportunities for expansion in the assessment period. The increasing popularity of OTT platforms like Netflix, Hulu, Amazon Prime, and Disney Plus among others is predicted to positively influence the market.
On the contrary, additional overhead costs and associated complexities with DRM are likely to hinder the market growth in the coming time. However, with continuous developments in data security like up-gradation to end-to-end encryption are expected to counter the negative factors and support the market expansion in the coming years.
Key Takeaways from the Market Study:
- The global digital rights management market to value US$ 17.8 Billion from 2022-2032
- The global digital rights management market to witness a 13.5% growth rate from 2022-2032
- The software segment, by component, to expand at 9.8% CAGR from 2022-2032
- The On-premise segment, by deployment, to exhibit a 6.7% growth rate by 2032
- The U.S market to expand at 9.8% CAGR and garner US$ 3.1 Billion by 2032
- Market in China to procure USD 90 Mn from 2022-2032
- Indian market to secure US$ 500 Million during the forecast period
Key players in the global digital rights management market include Adobe Systems Incorporated, Apple Inc., Conax AS, Dell EMC, and Fasoo.com Inc., among others. Recent key developments among players include:
- In January 2020, Seclore, a data-centric security platform in the U.S, rolled out Seclore for O365. Organizations are using digital right management technologies to secure sensitive data information.
- In February 2021, RAIR Technologies announced a decentralized digital rights management platform. It was built to power digital scarcity for creators.
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Future Market Insights, in its new offering, presents an unbiased analysis of the global digital rights management market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
Key Segments Covered In The Digital Right Management Industry Report
Digital Rights Management by Component:
- Digital Rights Management Software
- Digital Rights Management Services
Digital Rights Management by Deployment Type:
- On-Premise Digital Rights Management
- Cloud-Based Digital Rights Management
Digital Rights Management by End Use Industry:
- Digital Rights Management for Healthcare
- Digital Rights Management for BFSI
- Digital Rights Management for Government
- Digital Rights Management for Media and Entertainment
- Digital Rights Management for Retail
- Digital Rights Management for Other End Use Industries
Digital Rights Management by Region:
- North America Digital Rights Management Market
- Europe Digital Rights Management Market
- Asia-Pacific Digital Rights Management Market
- Middle East & Africa Digital Rights Management Market
- South America Digital Rights Management Market
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The post Digital Rights Management Market is estimated to be worth US$ 17.8 Bn by year 2032-end at a healthy CAGR value. Latest data analysis by Future Market Insights, Inc. appeared first on Future Market Insights.
Original Source of the original story >> Digital Rights Management Market is estimated to be worth US$ 17.8 Bn by year 2032-end at a healthy CAGR value. Latest data analysis by Future Market Insights, Inc.
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