Digital Rights Management Market Will Record an Upsurge in Revenue during 2022-2027
Digital Rights Management Market size is projected to grow from USD 4.3 billion in 2022 to USD 7.9 billion by 2027, at a CAGR of 13.0% during the forecast period according to report published by MarketsandMarkets. Digital Rights Management Market by Component (Solutions and Services), Application (Audio Content, Images, Video Content, Confidential Documents, Software & Games), Deployment Mode, Vertical, Organization Size and Region – Global Forecast to 2027.
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By application, the software and games segment to have the highest growth rate during the forecast period
Gaming use one of the following business models: pay-per-download, subscription, free-to-play, or advertising. Until recently, the main option for generating revenue was a simple payment on downloading a game. Subscription business models also existed and had proven popular in some markets (notably Japan) but were rare in Europe. In the gaming industry, digital rights management solutions are used to protect the game content and prevent manipulation and copying of gaming by users after purchasing the game. Publishers use the DRM policy while launching any game. They ensure the authority of the user by checking the license associated with the accounts.
By Component, service segment is expected to grow with the highest CAGR during the forecast period
The DRM services include consulting, integration and operation and maintenance services. These services are required at various stages, from pre-sales requirement assessment to post-sales product deployment and execution, thus enabling the client to get maximum Return on Investment (RoI). These services help organizations to deploy DRM solutions at the right time at the right cost. Experts help organizations identify the type of integration required to meet their DRM demands. Overall, the services market is quite challenging and promising, as the services enhance customer experience, resulting in the organization’s overall success.
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Asia Pacific is expected to have the highest growth rate during the forecast period
The investment and participation of Asia Pacific in the development of DRM technology has made the region a hotspot for this industry. Asia Pacific consists of technologically advanced and developing countries such as China, Japan, South Korea, Australia, Hong Kong, Singapore, and others. China and Japan are considered the frontrunners in adopting and implementing the latest IT technologies. The former is expected to account for a major share in the regional market, due to the rising trends of enterprise mobility and BYOD. Government initiatives are the major growth drivers of the DRM market in Asia Pacific. The Department of Information Technology, Government of India, has initiated a project titled” Watermarking of Digital Audio and Setting Up of Resource Center for DRM Systems” at the Center for Development of Advanced Computing (CDAC), Thiruvananthapuram. The project also involves adopting various international standards to develop DRM systems for efficient and secured delivery of content (audio and video) over the internet.
The major players covered in the digital rights management market report include Adobe Systems (US), Google LLC (US), Microsoft Corporation (US), Apple (US), Oracle (US), IBM (US), Irdeto (Netherlands), OpenText (Canada), Kudelski Group (Switzerland), Sony Corporation (Japan), VeriSign Inc (US), Acquia (US), OVHcloud (France), and HelpSystems (US). The startup/SME’s covered in the digital rights management market are Vitrium Systems (Canada), NextLabs (US), Verimatrix (France), Seclore (US), Digify (US), Bitmovin (US), EditionGuard (US), EZDRM (US), Intertrust Technologies (Us), ArtistScope (Australia), CapLinked (US), and Bynder (Netherlands). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the digital rights management market.
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