According to a new report published by Transparency Market Research, the global digital rights management market
is expected to reach value of US$ 9,086.8 Mn by 2026, due to
significant rise in usage of digital rights management modules. The
market is projected to expand at a CAGR of 15.3% from 2018 to 2026. This
growth is attributable to the rising demand for advanced digital rights
management solutions and services from industries and increasing
adoption of on-premise deployment models to offer the finest services to
clients.
The digital rights management market in
North America is anticipated to expand at a rapid pace during the
forecast period, followed by Europe, Asia Pacific, Middle East &
Africa, and South America. Furthermore, the global digital rights
management market is undergoing an emerging stage and is anticipated to
expand rapidly in the next few years.
Rising Demand for Digital Content Security and Management driving the Global Digital Rights Management Market
Increasing number of Internet users and
rising popularity of social media platforms have resulted in creation of
a large amount of digital content. Furthermore, digital conent created
or utilized by enterprises is also anticipated to increase in the near
future. Innovative content creation and sharing platforms are being
incorporated within the enterprise infrastructure. This digital content
needs to be securely stored and managed in order to comply with the
legal requirements which include intellectual property (IP) rights.
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Piracy and thefts of the digital content
is hampering the market and causing revenue losses for digital content
owners and providers. In one such scenario, in 2016, HBO, the leading
player in the media & entertainment industry experienced revenue
loss to a great extent, due to piracy of its popular show ‘The Game of
Thrones’. Hence, in order to generate and protect revenue from digital
assets (including digital media, software, solutions, and services), the
need to obstruct the piracy and unauthorized access to digital assets
and to monitor the fair usage is increasing. This rising demand is
anticipated to drive the global digital rights management market during
the forecast period.
Digital Rights Management Market: Scope of Report
The digital rights management market can
be segmented based on component, deployment model, and end-use.
According to a research study, the global digital rights management
market is dominated by the media & entertainment segment, which held
a significant market share in 2016. This is primarily due to increasing
demand from media & entertainment companies for enhanced control
over images, videos, and audios from multiple sources.
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