Digital Rights Management Market to Reach USD 2633.3 Million By 2028 At A CAGR of 8.0% - Valuates Reports

BANGALORE, India, Aug. 17, 2022 /PRNewswire/ -- Digital Rights Management Market is segmented by Type - Video/Media, Software/APPs, Game, TV/OTT, Others, by Application - PC, Mobile, TV, Others. Global Opportunity Analysis and Industry Forecast, 2022 - 2028. It is published in Valuates Reports under the Electronic Components Category.

The global Digital Rights Management market size is projected to reach USD 2633.3 Million by 2028, from USD 1526.9 Million in 2021, at a CAGR of 8.0% during 2022-2028.

Major Factors Driving The Growth of The Digital Rights Management Market are

The need for companies and creators to protect online data and implement copyright policies for digital intellectual properties will drive digital rights management market growth.

The increasing demand for OTT content delivery and widespread penetration of digital devices will drive the growth of the market.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL DIGITAL RIGHTS MANAGEMENT MARKET

DRM enables companies to communicate to users what they can and cannot do with respect to digital content. Content creators lose a lot of revenue due to online piracy. Video and moviemakers spend money, time, and energy on creating videos. DRM identifies and takes down infringers who steal revenue. It ensures that only paying users are able to watch the video or movie and is accessible only to a certain section of the audience. This will drive the growth of the Digital Rights Management Market. It effectively blocks unauthorized users from seeing, reading, downloading, or altering confidential files. The system also verifies adult-oriented content.

Several organizations in the manufacturing, technology, and biotech sectors store sensitive trademarks, patents, customer information, and processes across multiple platforms. Data and IP protection are crucial for companies to secure those files. An efficient DRM solution limits access to sensitive data and allows seamless sharing with related stakeholders. Auditors and compliance authorities are able to quickly detect any major instances of breaches or data leakages. This will bolster the growth of the Digital Rights Management Market. Many healthcare organizations and financial firms use DRM tools to fulfill compliance requirements as per stringent data privacy standards such as HIPAA, GDPR, and GLB act.

The over-the-top content delivery model has revolutionized the entertainment industry. Youtube has become a mainstream platform with over a billion monthly users logging in every single day to reach and maintain their audiences. Hundreds of videos are being uploaded on YouTube every minute. Furthermore, the emergence of paid OTT media platforms like Netflix, Disney Plus, Hulu, and Amazon Prime has increased the convenience of users to enjoy big-budget content within the comfort of their homes. This will fuel the growth of the Digital Rights Management Market in the coming years. Various copyright management policies have been implemented to safeguard and monetize the content of creators.

The covid19 pandemic has completely changed the corporate work culture forcing businesses to expand their IT infrastructure to meet the growing work-from-home requirements. A technology that is gaining mass attention is EDRM( Enterprise Digital Rights Management). As a result, the demand for the global Digital Rights Management Market will rise rapidly during the forecast period. EDRM encrypts the data and uses a protection policy for allowing permissions for different users and user groups. Strong authentication is required for an individual to view, download, print, save, forward and change the content.

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DIGITAL RIGHTS MANAGEMENT MARKET SHARE ANALYSIS

Based on application, PC is one of the most lucrative segments.

Based on type, the Video/Media segment is expected to dominate in the digital rights management market share as safeguarding video content is essential for smooth playback and delivery.

Based on region, North America will witness considerable growth in the digital rights management market share with 40% due to the rapid explosion of internet content, change in the way people interact, view, and engage with online content, and widespread adoption of OTT technologies by consumers. The need for a better viewing experience has prompted social media giants like Facebook, Instagram, and Youtube to deploy DRM security solutions on their websites. While Europe and China are at 24% and 10% respectively.

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Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

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Key players

• Umicore
• GEM
• Brunp Recycling
• SungEel HiTech
• Taisen Recycling
• Batrec
• Retriev Technologies
• Tes-Amm(Recupyl)
• Duesenfeld
• 4R Energy Corp
• OnTo Technology
• Redwood

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