NEWARK, NEWARK, UNITED STATES OF AMERICA, May 4, 2022 /EINPresswire.com/ -- 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.

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.

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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

“Rising corporate need to secure their data and the growing demand for copyright protection policies for digital intellectual properties are likely to drive the market in the forecast period. Also, growing consumption and demand for OTT is another notable cause augmenting the industry size in the coming years.”- remarks an analyst at FMI.

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Competition Analysis

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.

More Valuable Insights

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.

The study reveals essential insights on the basis of Component (Software, Services), Deployment Type (On-Premise, Cloud-Based), End-Use Sector (Healthcare, BFSI, Government, Media and Entertainment, Retail, Others), & Region North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America).

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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