Digital Rights Management Market
The global digital rights management market share was dominated by video-on-demand segment and is expected to maintain its dominance in upcoming years.
PORTLAND , PORTLAND, OR, UNITED STATE, August 11, 2022 /EINPresswire.com/ — Rise in copyright protection policies for digital IPs and corporate needs to protect their data have boosted the growth of the global digital rights management market. However, costly fees and complexity of DRMs and limited control over the content hinder the market growth.
On the contrary, rise in demand for OTT content delivery, rise in penetration of digital devices, and the growing data volumes are expected to open new opportunities for the market players in the future.
As per the report, the global digital rights management industry was pegged at $3.60 billion in 2020, and is expected to reach $24.63 billion by 2030, growing at a CAGR of 21.4% from 2021 to 2030.
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Covid-19 scenario:
• The Covid-19 pandemic led to the implementation of home quarantine rules and adoption of work from home culture across the globe. This increased the demand for OTT platforms.
• Due to rise in demand for digital content, the content creators and publishers were prompted to expand their content libraries and employ several digital rights management methods.
By application, the video on-demand segment held the largest share in 2020, accounting for more than two-fifths of the global digital rights management market, as it protects video content while ensuring smooth delivery and playback. However, the mobile content segment is expected to register the highest CAGR of 23.8% during the forecast period, owing to growth in internet usage and rise in use of smart devices that contain sensitive information.
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By industry vertical, the healthcare segment would showcase the highest CAGR of 24.8% from 2021 to 2030, due to concerns regarding unfettered access to data in the healthcare industry. However, the television and film segment held the largest share in 2020, contributing to more than two-fifths of the global digital rights management market, due to use of digital content, rise in customer base for online content-based publishers, and increase in demand for DRM in media and entertainment segment.
By region, the market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market, due to rise in demand for better viewing experience than before, advances in mobile devices, and explosion of internet content. However, the global digital rights management market across Asia-Pacific would showcase the highest CAGR of 23.9% from 2021 to 2030, owing to increase in number of people accessing web content and rise in internet live video streaming, mobile TV, and video-on-demand.
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Key Benefits For Stakeholders
• The study provides an in-depth analysis of the digital rights management market along with the current trends and future estimations to elucidate imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the digital rights management market size is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the digital rights management industry.
• The quantitative analysis of digital rights management market for the period 2020–2030 is provided to determine the market potential.
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