Digital Rights Management Market: Current Analysis and Forecast (2022-2028)
Emphasis on Application (Audio Content, Video Content, Software and Games, and Others); Organization Size (Large Enterprises and SMEs); Industry Verticals (Banking and Financial Services, Education, Media and Entertainment, Healthcare, and Others); and Region/Country
Digital rights management is the use of technology to control and manage access to copyrighted material. Another meaning of digital rights management is to take away control of digital content from its owner and hand it over to a computer program. digital rights management is intended to protect the rights of copyright owners and to protect content from unauthorized distribution and modification. digital rights management is becoming increasingly important as digital content proliferates through peer-to-peer file sharing, torrent sites, and online piracy. It helps entertainment and media companies protect themselves from cybersecurity challenges that all businesses face, such as protecting customer data, ensuring and demonstrating compliance, improving operational efficiency, and avoiding downtime.
The global digital rights management market is expected to grow at a CAGR of around 15% during the forecast period. The rising adoption of digital rights management can be attributed to the increased need for companies to protect their data due to the growing need for digital intellectual property copyright protection policies. Furthermore, factors such as the rapid proliferation of digital devices and technologies and the continued development of the internet as a platform for business and trade, the successful monetization of digital content, and the rising number of social media users are also contributing to the growth of the market.
Adobe Inc., Apple Inc., Dell Inc., DivX LLC, Fortinet Inc., IBM Corporation Inc., Microsoft Corporation, NextLabs Inc., Oracle Corporation, and Sony Corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst organization size, the SMEs segment is expected to grow at a prominent CAGR”
By organization size, the digital rights management market is divided into large enterprises and SMEs. The SMEs segment is expected to grow with a larger CAGR during the forecast period. This is mainly due to their transition to data support and data management systems, small and medium businesses employ enterprise digital rights management solutions at a pretty high rate. It has been noted that a growing number of small and medium-sized businesses are making sizable investments in enterprise digital rights management software.
“Amongst industry vertical, performance management segment held a significant share of the market in 2020”
On the basis of industry verticals, the market is segmented into banking and financial services, education, media and entertainment, healthcare, and others. The media and entertainment industry is expected to grow significantly during the forecast period. This is mainly attributed to the growing prominence of OTT. Furthermore, the growing social media penetration is also expected to drive the market during the forecast period.
“North America to hold a significant share in the market”
The North American region held a prominent share of the global digital rights management market in 2020 and is expected to grow at a substantial growth rate during the forecast period. The increase in smartphones, tablets, and internet dependency among customers in the region is expected to significantly influence market growth. Moreover, the rising cyber-attack risks in the region are also expected to propel the market. For instance, according to IBM Corporation, in 2020, the average cost of a data breach was USD 3.86 Mn globally, and USD 8.64 Mn in the United States. These costs include the expenses of discovering and responding to the breach, the cost of downtime and lost revenue, and the long-term reputational damage to a business and its brand.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global digital rights management market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Digital Rights Management Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global digital rights management market were the three major steps undertaken to create and analyze the adoption of digital rights management in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global digital rights management market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the digital rights management market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the digital rights management market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report such as application, organization size, and industry verticals. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the digital rights management market. Further, we conducted factor analysis using dependent and independent variables such as application, organization size, and industry verticals of the digital rights management. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the digital rights management market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global digital rights management market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the digital rights management market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global digital rights management market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global digital rights management market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of application, organization size, and industry verticals in the global digital rights management market.
The main objective of the Global Digital Rights Management Market Study
The current & future market trends of the global digital rights management market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the digital rights management market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of application, organization size, and industry verticals
- Define and analysis of the regulatory framework for the digital rights management industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the digital rights management market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the digital rights management market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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