The Global Market for Digital Rights Management (DRM) is Forecast to Reach US$4.6 Billion by 2024

Growing Opportunity for Content Monetization & the Focus on Protecting Revenue Streams Drive Parallel Gains for DRM Solutions, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Digital Rights Management (DRM) market. The global market for Digital Rights Management (DRM) is forecast to reach US$4.6 billion by 2024, driven by the continuous evolution of the Internet as a platform for business and trade and the ensuing success in monetizing digital content.

Digital content currently ranks as the most widely consumed goods on the Internet. Digital content traded on the Internet ranges from videos, movies, music, television shows, games, books, research materials, photo/images galleries, infographics, newsletters, GIFS, comics/cartoons, podcasts, slideshares, proprietary software, magazines, scientific and technology white papers, webinars, curated content, licensed software programs, technologies, streaming content to other indigenous creative work, among others. Over the last few decades, the volume of free digital content available on the internet for free download and use has been shrinking. While there has been a clear improvement in consumer willingness to pay for premium content supported by the rise of affordable monthly subscription based business models, piracy and unauthorized redistribution of copyright protected content has also been increasing. This ever-present security threat to digital media results in millions of dollars in losses for digital publishing and entertainment companies. The global increase in commercial value of pirated software, illegal software downloads and unauthorized distribution, sharing, and reselling of unlicensed software, therefore offers a business case for digital content protection technologies.

Digital rights management (DRM), defined as an access control technology that limits and restricts use and distribution of legally acquired proprietary hardware, software and content and other copyrighted works. Benefits of DRM that gives the technology a well-accepted and established presence in the market include adds an extra layer of protection to copyrighted digital content; reduced risk of Intellectual Property Infringement (IPI); lower publishing costs; prevents revenue loss; helps earn higher levels of ROI; enables cost effective monetization of video content; ensures long-term sustainability of streaming media business models; reduced cost of data security compliance especially for hospitals and financial services companies that need to comply with regulations such as Health Insurance Portability and Accountability Act (HIPAA), Gramm Leach Bliley, Sarbanes Oxley; significant reductions in losses caused by piracy or misuse of information; and ability to control content/document retention period by preventing access once the validity period expires; among others.

Major factors driving growth in the market include surging smartphone sales and increase in piracy via smartphones; recent approval of web DRM officially known as Encrypted Media Extensions (EME); rise in streaming service and parallel rise in streaming piracy; proliferation of workforce mobility and BYOD in the enterprise sector and the ensuing need to protect sensitive and confidential corporate information; and rise of cloud computing and popularity of cloud based DRM services.

As stated by the new market research report on Digital Rights Management (DRM), the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 14.9% over the analysis period led by robust development of the internet infrastructure in terms of broadband speeds and capacity; falling tariffs of mobile internet; digitalizing consumer lifestyles and increased acceptance of digital media and entertainment; escalating threat of piracy in emerging Asian economies; growing use of smartphones and increase in app piracy; and increased worker mobility deployments in the enterprise sector and the ensuing increase in security breaches in enterprise communication and file sharing platforms. 

Major players in the market include Adobe Systems Incorporated, ArtistScope, Axinom, BuyDRM, Inc., Conax AS, Digital Content Protection LLC (DCP), DivX LLC, FileOpen Systems Inc. , Google LLC, Haihaisoft, IBM Corp., InterTrust Technologies Corp., INSIDE Secure, LockLizard Limited, Microsoft Corporation, OpenText Corp., Oracle Corporation, SAP SE, SECLORE, SEAL Systems Inc., Vaultize Technologies, Verance Corporation, VITRIUM, Vobile Inc. and YANGAROO Inc. among others.  

The research report titled “Digital Rights Management (DRM): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the USA, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil and Rest of Latin America). The report also provides market estimates and projections for all major End-Use Sectors such as Media & Entertainment DRM, Enterprise DRM and Software DRM.

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