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Global Digital Rights Management (DRM) Market to Reach USD 6.4 Billion by 2027, Aided by Growing Usage of IoT-Based Devices

According to a new report by EMR titled, ‘Global Digital Rights Management (DRM) Market Report and Forecast 2022-2027’, the global digital rights management (DRM) market reached USD 3.2 billion in 2021. The industry is expected to grow at a CAGR of 12.3% during 2022-2027 to reach a value of USD 6.4 billion by 2027.

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.

Market Analysis by Organisation Size, End User, and Regions:

  • Based on organisation size, the industry is classified into small and medium enterprises, and large enterprises.
  • The end users of the industry are media and entertainment, IT and telecommunication, BFSI, healthcare, and education, among others.  
  • The regional markets for digital rights management (DRM) include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The presence of more start-up companies offering novel solutions is expected to fuel market expansion.
  • The widespread adoption of new technology is expected to provide a lucrative market for digital right management software.
  • Due to the rise in digital broadcasting and content marketing, the industry is likely to grow significantly throughout the forecast period.
  • The digital rights management (DRM) market is expected to grow due to government legislation, standards, and regulations governing intellectual property rights.
  • The growing need for content consumption transparency for safeguarding the revenue streams is also anticipated to fuel the adoption of digital rights management protection market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global digital rights management (DRM) industry the periods (2017-2021) and (2022-2027). 
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for organisation type, end user, and major regions of digital rights management (DRM).  
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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