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Digital Rights Management Market Expected To Achieve Strong 21.4% CAGR from 2021 to 2030

WILMINGTON, DE, UNITED STATES, June 10, 2024 /EINPresswire.com/ -- Digital Rights Management Market by Application (Mobile Content, Mobile Gaming, Video-On-Demand and Others), Enterprise Size (SME and Large Enterprise) and Industry Vertical (BFSI, Healthcare, Printing & Publication Educational, Television & Film and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030".

As per the report, the global digital rights management industry was pegged at $3.60 billion in 2020, and is expected to reach $24.63 billion by 2030, growing at a CAGR of 21.4% from 2021 to 2030.

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Rise in copyright protection policies for digital IPs and corporate needs to protect their data have boosted the growth of the global digital rights management market. However, costly fees and complexity of DRMs and limited control over the content hinder the market growth. On the contrary, rise in demand for OTT content delivery, rise in penetration of digital devices, and the growing data volumes are expected to open new opportunities for the market players in the future.

Covid-19 scenario:

The Covid-19 pandemic led to the implementation of home quarantine rules and adoption of work from home culture across the globe. This increased the demand for OTT platforms.
Due to rise in demand for digital content, the content creators and publishers were prompted to expand their content libraries and employ several digital rights management methods.

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Government laws, standards and regulations such as GDPR to regulate intellectual property rights are fueling the growth of the digital rights management market in Europe with the growing popularity of unmanaged or over-the-top content (OTT) distribution through open Internet networks. Furthermore, cloud services are an effective way to optimize Digital Rights Management (DRM) operations, while taking advantage of a strong level of service. Transferring license keys and many security functions from client devices to servers has been simplified using the cloud deployment model. It allows easy maintenance, upgrades and support for multiple DRMs, formats, protocols and emerging business models. It is expected to offer significant growth opportunities to the DRM market. The BFSI sector in Europe is one of the most attractive sectors for the digital rights management market. The UK is one of the leading countries for market players. Many financial institutions and banks in the region.

By region, the market across North America held the lion's share in 2020, accounting for nearly two-fifths of the market, due to rise in demand for better viewing experience than before, advances in mobile devices, and explosion of internet content. However, the global digital rights management market across Asia-Pacific would showcase the highest CAGR of 23.9% from 2021 to 2030, owing to increase in number of people accessing web content and rise in internet live video streaming, mobile TV, and video-on-demand.

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The mobile content segment also plays a significant role in the market, With the increasing use of smart phones, huge amounts of sensitive data containing sensitive information is being generated. As a result, many data security vulnerabilities arise. Mobile content is protected from cyber-attacks using the Digital Rights Management (DRM) system.

Major market players

Adobe
Apple Inc.
Dell Inc.
DivX, LLC.
Fasoo
International Business Machines Corporation
Microsoft Corporation
NEXTLABS INC.
Oracle Corporation
Sony Corporation

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