According to a market report, published by Sheer Analytics and Insights, the global digital rights management market was valued at $3.6 billion in 2021 and it is expected to reach $37.1 billion at a CAGR of 23.5% through the forecast period. Creative media content is growing which requires digital rights management services. Hence, this is one of the primary opportunities for content distribution partners and content publishers. Over the past few years, the demand for digital rights management solutions has increased with significant growth. Maintaining authentication and privacy rights is essential at present days. Thus, digital rights management provides solutions for all kinds of distributional channels. This would benefit the global market growth in the future. Moreover, it plays an essential role in content creation at present days. The usage of smartphones is growing, which could help a large number of customers to have an excellent learning experience which could be generated. Therefore, digital devices can help their wide number of customers in creating music, 3D design and printings, eBooks, slide presentations, videos, photos, and more. In this case, content providers play a critical role in preventing the actual information from the original owner of the creation from being transferred from one device to other. Hence, these benefits work as major factors which are driving the growth of the market.
Moreover, in this modern age, many people are using digital platforms due to the increasing usage of smartphones and mobile applications. Thus, digital piracy is also growing among these people, which is increasing the demand for digital rights management services across the globe. Distributional companies globally are focusing on adopting digital rights management solutions due to rising awareness of this online piracy. Governments from several developed countries are trying to establish new stringent policies which would prohibit digital piracy. Therefore, due to these rising factors, the market is expected to have more growth opportunities in the future.
However, cheap digital rights management solutions might not be very useful and effective for end-user industries. This low-cost solution could not provide strong protection. On the other hand, expensive digital rights management solutions are also anticipated to hamper the growth of the market due to low investment in several companies. Several high costs associated with the software license fee, deployment fee, maintenance fee, production fee, and others are anticipated to hamper the market growth over the forecast period.
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A couple of years ago, the COVID-19 pandemic occurred, which has positively impacted the digital rights management market due to increasing growth and rising adaptation of digital rights management solutions in many end-user industries such as media and entertainment, IT and Telecom, BFSI, healthcare sector, education, among other end-user industries. These have driven the growth of the market over the past few years.
Some recent developments in the digital rights management market:
- In 2020, Tech Mahindra launched BlockChain which is based on contracts and digital rights management platform for global media and entertainment industry.
- In 2021, RAIR launched decentralized digital rights management platform to strengthen digital scarcity for creators. This would provide a new middleware encryption and digital watermark that lets any user publish and distribute media while retaining complete ownership and earnings.
- In 2022, NextLabs has launched new Digital Rights Management. This is a latest version of Teamcenter with advanced data protection solution.
Therefore, these new launches are expected to accelerate growth of the global digital rights management market during the forecast period from 2022 to 2032.
According to the study, key players dominating the global digital rights management market are Adobe (U.S), Alphabet Inc (U.S), Apple Inc (U.S), Bitmovin Inc (U.S), Bynder (Netherlands), Dell Technologies (U.S), Fasoo (South Korea), Fidelio Acquisition (U.S), General Electric (U.S), IBM (U.S), IRdeto B.V (Netherlands), Kudelski Group (Switzerland), Meta (U.S), Microsoft Corporation (U.S), OpenText Corporation (Canada), Oracle Corporation (U.S), SAP (Germany), Seclore (India), Union Fintech (Estonia), Vobile Group (China), Verimatrix (France), Vitrium Systems (Canada), among others.
The Global Digital Rights Management Market Has Been Segmented Into:
The Global Digital Rights Management Market – by Application Type:
- E-Book
- Mobile Gaming and Application
- Video on Demand
- Mobile Content
- And Others
The Global Digital Rights Management Market – by Organization Type:
- Small Enterprise
- Medium Enterprise
- Large Enterprise
- Others
The Global Digital Rights Management Market – by Regions:
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- U.K.
- Russia
- Rest of Europe Countries
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
Rest of APAC
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
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