The global digital rights management or DRM market is estimated to register considerable growth owing to the rapid increase in content marketing and digital broadcasting. Fortune Business Insights shared this information in a report, titled “Digital Rights Management Market Size, Share and Global Trend by Component (Software, Services, Consulting), By Deployment (On-premise & Cloud), By Industry Vertical (Healthcare, BFSI, Government and others) and Geography Forecast till 2025.” The report offers insights into the factors enabling growth in the market. The digital rights management technology helps to protect the copyright of digital content such as images, texts, music, videos, and news. Digital rights management software offers several benefits such as tracking IP addresses, preventing screen grabbing, and locking essential documents to devices.
North America to Hold a Significantly Higher Share with Rising Adoption of Technologies
Among regions, North America is projected to maintain its dominance in the global DRM market during the forecast period. The rising adoption of technologies such as OTT (Object Oriented Testing), IoT (Internet of Things) and others is expected to boost the market in this region. The growth in this region is likely to expand with the early launch and rapid penetration of 4G networks.
“The high adoption of well-recognized social media sites in the U.S. such as Twitter, Facebook, YouTube, Instagram, and others has fuelled the need for top-notch security solutions,” stated a lead analyst at Fortune Business Insights. “This has further led to the increasing adoption of advanced security solutions, thus fuelling demand for DRM solutions in North America,” he added.
Growing digitization in the countries of Asia Pacific is anticipated to create growth opportunities in the market. In addition to this, the demand for securing digital content is increasing at a rapid pace. This, coupled with the increasing number of people accessing web content in Asia Pacific, is likely to expand the market during the forecast period.
Growing Popularity of E-commerce Business to Fuel Demand for DRM Software
Companies across the globe are rapidly making their presence felt across various social networking sites. This is further allowing companies to advertise and sell their products online by adopting a content marketing strategy. As a result of this, companies intend to implement intellectual property (IP) rights, which is expected to give impetus to digital rights management and licensing. The increasing usage of digital documents such as PDFs, word documents, emails, and others is expected to stimulate growth in the market by 2025. Furthermore, in the advent of technologies such as Internet Protocol Television (IPTV) with low data storage costs is likely to enable growth in the DRM market. Efficient handling and consistency are needed by organizations to manage web content. As a result of this the demand for access control is envisioned to rise, in turn driving the market. Also, companies are monetizing from the creation of quality content. The unapproved use of this content and the fear of theft will encourage companies to install digital rights management solutions by 2025.
Contrary to this, lack of awareness about the benefits of digital rights management technologies may hamper the growth of the market. Also, some of the companies are still unaware about the emergence of digital technologies, which is expected to restrict the market’s growth to an extent.
Introduction of New DRM Technologies to Help Companies Protect their Content
The global DRM market is fragmented in nature, which is why the leading players are putting efforts to stay ahead of competition. Some of the leading players include Vera Security, Inc., Intertrust Technologies Corp., Conax AS, Oracle Corporation, Adobe Systems Incorporated, Microsoft Corporation, Vaultize Technologies, Apple Inc., Nextlabs, Inc., Locklizard Limited, Verimatrix, Inc., Seclore Technology, OpenText Corp., Vitrium Systems Inc., and Dell EMC.
In February 2018, Vera Security Inc. announced their partnership with Canon Inc. to offer a trusted workflow platform. The aim of this partnership is to secure intellectual property and business information from data breach. Another company called Adobe Inc. launched a cloud-based technology called Adobe Primetime IBC in the year 2018. This technology is integrated with an advance Dynamic Ad Insertion or DAI platform allowing access to unauthorized users. Strategic collaborations among leading players are often intended towards gaining a competitive edge in the market while catering to consumer demand. Such strategies are expected to bode well for the overall digital rights management market.