According to a new market research report published by Credence Research “Global Digital Rights Management Market (Component (Software, Services); Deployment (On-Premises, Cloud); Organization Size (Large Enterprises, SMEs); Application (Gaming, e-Books, Video on Demand, Digital Content, Others); End-User (Retail, BFSI, Government Sector, Healthcare, Media and Entertainment, Others)) – Growth, Future Prospects and Competitive Analysis,2019 – 2027”,the overall digital rights management market worldwide is expected to reach at a value of US$3.30 Bn in 2018 and is set to grow with a CAGR of 14.6 % during the forecast period.
The global digital rights management market is highly driven by increasing urbanization and digitalization globally. The utilization of the internet has increased the digitalization that is considered as one of the major factors which are driving the DRM market globally. The increasing demand for new content from the users is driving the video-on-demand market which is directly driving the DRM market. The companies are introducing new shows, mobile gaming, e-books and video contents which requires a secure path, therefore the DRM plays an important role.
Based on end-users, the digital rights management market has been segmented as retail, BFSI, government sector, healthcare, media and entertainment, and others. The media & entertainment segments was the dominating segment in 2018 and is expected to dominate during the forecast period. The increasing gaming, video, audio and other content in the entertainment and media segment is one of the major factors driving the market.
Asia-Pacific is expected to be the fastest-growing region due to the rising number of internet users in the region and increasing the development of infrastructure in the region. Additionally, the increasing disposable income is considered as a major factor for driving the market as the users are spending more on the online content. The governments in the region are spending highly to improve internet connectivity.
The region is expected to grow with a CAGR of more than 14.5% during the forecast period. The introduction of the new web series, video content and others in the region is attracting new customers for subscriptions of new online channels. Moreover, to manage the privacy and copyrights of the contents in the region the local companies are opting for DRM which is driving the growth of the market.
Some of the prominent players operating in the digital rights management market include Oracle Corp., SAP SE, Adobe System Inc., Axiom Global Inc., OpenText Corporation, ArtistScope, Locklizard Limited, Vitrium Systems Inc., Hewlett Packard Enterprise Company, Bynder LLC, Widevine Technologies Inc., IBM Corporation, General Electric, Cyber Optic Group, and Microsoft Corporation.
Browse the full report at https://www.credenceresearch.com/report/digital-rights-management-market
The Global Digital Rights Management Market is Segmented into:
|Segmentation||By Component Segment (2017–2027; US$ Bn)|
|By Deployment Segment (2017–2027; US$ Bn)|
|By Organization Size Segment (2017–2027; US$ Bn)|
|By Application Segment (2017–2027; US$ Bn)|
|By End-User (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page