According to a new report published by UnivDatos Markets Insights, the Digital Rights Management Market is expected to grow at a strong CAGR from 2022-2028. The analysis has been segmented into Application (Audio Content, Video Content, Software and Games, and Others); Organization Size (Large Enterprises and SMEs); Industry Verticals (Banking and Financial Services, Education, Media and Entertainment, Healthcare, and Others); Region/Country.
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The digital rights management market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the digital rights management market. The digital rights management market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the digital rights management market at the global and regional levels.
Market Overview
The global digital rights management market is expected to grow at a CAGR of around 15 % during the forecast period. Digital Rights Management is the use of technology to control and manage access to copyrighted material. Another meaning of DRM is to take away control of digital content from its owner and hand it over to a computer program. DRM is intended to protect the rights of copyright owners and to protect content from unauthorized distribution and modification. DRM is becoming increasingly important as digital content proliferates through peer-to-peer file sharing, torrent sites, and online piracy. It helps entertainment and media companies protect themselves from cybersecurity challenges that all businesses face, such as protecting customer data, ensuring and demonstrating compliance, improving operational efficiency, and avoiding downtime. The rising adoption of digital rights management can be attributed to the increased need for companies to protect their data due to the growing need for digital intellectual property copyright protection policies. Furthermore, factors such as the rapid proliferation of digital devices and technologies and the continued development of the internet as a platform for business and trade, the successful monetization of digital content, and the rising number of social media users are also contributing to the growth of the market.
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COVID-19 Impact
COVID-19 has impacted the economic activities and livelihood of society. Major companies operating in the market have seen a significant drop in sales due to the COVID-19 pandemic. With the proliferation of digital channels during the pandemic, customer expectations for digital capabilities have also increased. Therefore, the COVID-19 pandemic has positively affected the growth of the global digital rights management market.
The global digital rights management market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· By organization size, the digital rights management market is divided into large enterprises and SMEs. The SMEs segment is expected to achieve a larger CAGR during the forecast period. This is mainly due to their transition to data support and data management systems, small and medium businesses employ enterprise digital rights management solutions at a pretty high rate. It has been noted that a growing number of small and medium-sized businesses are making sizable investments in enterprise digital rights management software.
· On the basis of industry verticals, the market is segmented into banking and financial services, education, media and entertainment, healthcare, and others. The media and entertainment industry is expected to grow significantly during the forecast period. This is mainly attributed to the growing prominence of OTT. Furthermore, the growing social media penetration is also expected to drive the market during the forecast period.
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Digital Rights Management Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of the digital rights management industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The North American region held a prominent share of the global digital rights management market in 2020 and is expected to grow at a substantial growth rate during the forecast period. The increase in smartphones, tablets, and internet dependency among customers in the region is expected to significantly influence market growth. Moreover, the rising cyber-attack risks in the region are also expected to propel the market. For instance, according to IBM Corporation, in 2020, the average cost of a data breach was USD 3.86 Mn globally, and USD 8.64 Mn in the United States. These costs include the expenses of discovering and responding to the breach, the cost of downtime and lost revenue, and the long-term reputational damage to a business and its brand.
The major players targeting the market include
· Adobe Inc.
· Apple Inc.
· Dell Inc.
· DivX LLC
· Fortinet Inc.
· IBM Corporation Inc.
· Microsoft Corporation
· NextLabs Inc.
· Oracle Corporation
· Sony Corporation
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Digital Rights Management market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the digital rights management market?
• Which factors are influencing the digital rights management market over the forecast period?
• What are the global challenges, threats, and risks in the digital rights management market?
• Which factors are propelling and restraining the digital rights management market?
• What are the demanding global regions of the digital rights management market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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The growth and development of Global Information Rights Management Market Report 2020-2026 by Players, Regions, Type, and Application, forecast to 2026 provides industry analysis and forecast from 2020-2026.
Global Information Rights Management Market analysis delivers important insights and provides a competitive and useful advantage to the pursuers.
The data chart is also backed up by using statistical tools.Simultaneously, we classify different Information Rights Management markets based on their definitions.
Downstream consumers and upstream materials scrutiny are also carried out.
Each segment includes an in-depth explanation of the factors that are useful to drive and restrain it.
Report is a complete, proficient and in-depth research of Information Rights Management that conveys critical information for those who are seeking information for the industry.
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