The growing prevalence of smartphones and the growing usage of IoT-based devices has driven up demand for digital media, thus boosting the growth of the digital rights management market. Cloud-based deployment is expected to accelerate the digital right management market at a faster pace due to less initial investment. The digital right management market is predicted to develop faster than the global expansion in digital content. The digital right management sector is projected to benefit from the growing popularity of internet streaming and gaming. The need for digital right management software is expected to expand significantly throughout the projected period due to the availability of high-speed internet and the rising popularity of subscription-based entertainment products. Hence, digital right management being an important tool for getting copyright protection for the digital content is likely to augment the market growth during the forecast period. Efficient consistency and handling are required for organisational web content to be published on the website; as a result, the need for access control is also expected to drive the DRM market. An increase in the number of companies monetising the content, piracy, and unauthorised use of digital information, along with fears over theft, are the factors expected to propel DRM market growth over the forecast period.
The introduction of blockchain technology in DRM solutions has boosted software's ability to work on a distributed system while also addressing the problem of double spending. As a result, this type of technology is more likely to be useful for bitcoin and other financial activities. The creation of a new blockchain-based digital rights management system was announced by Sony (NYSE: SONY) in 2018. This new technology will aid in the management of copyright-related information for digital content, with educational content being one of the most common applications.
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The major players in the global digital rights management (DRM) market include Microsoft Corporation, Dell Inc., Fasoo, Seclore, Oracle Corporation, and Adobe Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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