Digital rights management (DRM) is a provisional access technology, used to protect and monitor the spread of digital content online. DRM protects high-value digital assets, supports controlling and the distribution of the digital content and monitor the usage of the digital assets against any illegal use. Increasing number of Internet users along with the rising poularity of social media platforms has generated large amount of digital content. Digital content created or utilized by enterprises is also anticipated to grow. Hence, digital content management demand is boosting the global DRM market. Further, government’s rigorous policies and regulations related to intellectual property, such as digital millennium copyright act (DMCA), the amendment to United States copyright law, which illegalize the production and distribution of technology that lets users bypass technical copy-restriction methods are anticipated to boost the global Digital Rights Management Market.
Furthermore, the employment of innovative revenue module being adopted by the leading market players are also driving the growth of DRM market. Another significant factor supporting the growth of digital rights management market is the increasing adoption of BYOD across various industries such as retail, IT & telecom, and healthcare among others. This has led to an increasing demand for cloud based digital rights management, consequently driving the global DRM market. However, scarcity of unified DRM solutions forcing end-users for multi-DRM platform against significant capital investment affecting the DRM adaptation, resulting into DRM market hindrance. The global market for digital rights management is expected to witness a CAGR of 14.3% over the course of the forecast period.
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Software Segment to Lead over in Coming Years
On the basis of software and services, owing the complex security protocol, technologies involved and the rules and regulations of government made the software segment account for a Herculean share of 70.1% of the total DRM market in 2016. Across services, in 2016, the integration segment contributed the highest. It held almost 39.4% of the overall digital rights management market share, followed by consulting segment. Consulting segment is anticipated to grow at the highest CAGR during forecast period. On-premise deployment accounted for maximum share of the digital rights management of around 59.1% of the global digital rights management market in 2016.
North America to Reign but Asia Pacific to Witness Remarkable Growth
Region-wise, North America is the largest region for digital rights management market. Asia Pacific is expected to witness fastest growth during the forecast period. China, India, Japan, and Australia are among the major supporters for digital rights management in the Asia Pacific region. South America is anticipated to contribute larger market share than the Middle East & Africa region and expected to show significant growth during 2017- 2025, with 16.4% CAGR.
The digital rights management market is highly competitive, large number of regional players are located across different geographies. Leading players are currently focusing on providing cloud based and ‘software as a service’ based DRM solution due to additional advantages of storage availability and real-time & remote access on cloud based platform. Some of the major players in the global digital rights management market are Apple Inc., Conax AS, InterTrust Technologies, Locklizard Limited, NAGRA, Adobe Systems Incorporated, Verimatrix, Inc., Microsoft Corporation, Vaultize Technologies, and Oracle.