Due to increased usage of digital rights management solutions as a result of growing security concerns in companies, the global market for digital rights management is anticipated to experience considerable growth during the forecast period (2020–2027). Due to the widespread use of laptops and computers, there are more hackers breaking into corporate and government networks to acquire sensitive data for financial and commercial benefit. Cybercriminals' major objectives are organization databases, which increases the loss of customer and corporate data. Organizations are implementing digital risk management (DRM) solutions as a result of the rise in data breaches and high-profile data theft. During the forecast period, the market growth is anticipated to be driven by the rising volume of digital content. Software called "digital rights management" is used to safeguard digital content.
Coherent Market Insights projects that in 2019, the market for Digital Rights Management was estimated to be worth US$ 2,940.7 million, and by 2027, it is anticipated to be worth US$ 9,033.7 million.
Leading Companies in the Digital Rights Management Industry:
1. General Electric
The firm was founded in 1892 and is based in Boston, Massachusetts, United States. A global leader in financial services and technology, General Electric Company. The company offers a range of goods and services, from industrial goods to medical imaging, corporate and consumer financing, water treatment, and home appliances. To increase the global availability of HA gas turbine services, GE will expand the scope of its Singapore repair centre in June 2023.
2. Adobe Inc.
The company was started in 1982 and is based in San Jose, California, United States. It has developed software specifically for the development and distribution of a variety of content. Adobe declared in September 2022 that it has reached an agreement to pay $20 billion for the software design startup Figma. On August 19, 2021, Adobe declared it has finalised a deal to buy Frame.io, a prominent cloud-based video collaboration tool.
3. Microsoft
The company was founded in 1975 and is based in Redmond, Washington, United States. The company offers apps, greater cloud storage, and sophisticated security measures. Microsoft and ChatGPT creator OpenAI announced a new multi-year, multi-billion dollar investment pact on January 23, 2023. Activision Blizzard, an American video game developer and holding company, will be purchased by Microsoft for an all-cash sum of $68.7 billion on January 18, 2022, according to the firm's announcement.
4. Facebook Inc.
The company was started in 2004 and is based in Menlo Park, California. The American technological behemoth Meta Platforms is the owner of the social networking and social media website Facebook. Facebook unveiled the Facebook BARS app for rappers on February 27, 2021. Facebook unveiled Bulletin, a writing community, on June 29, 2021. As its goal moves to creating the "metaverse," owner Facebook, Inc. changed its name from Facebook, Inc. to Meta Platforms, Inc. in October 2021.
5. Apple Inc.
The company was started in 1976 and is based in Cupertino, California, United States. Apple Inc. creates, produces, and distributes smartphones, laptops, tablets, wearables, accessories, and a range of other connected products. The company also provides cloud, advertising, digital content, and payment services. Apple opened its first store under its own name in Mumbai, India, on April 18, 2023. Apple introduced its 'Apple Pay Later' option for subscribers of the Apple Wallet In March 2023.
6. Oracle
The company was started in 1977 and is based in Austin, Texas, U.S. Software for managing corporate data is provided by Oracle Corporation. The business provides enterprise business applications, decision support tools, databases, and relational servers for use in application development. The purchase of Cerner, a provider of health information technology, was announced by Oracle on December 20, 2021. Oracle declared on March 31, 2020, that it has signed a contract to buy LiveData Utilities.
7. Ibm corporation
The firm was founded in 1911 and is located in Armonk, New York, United States. It offers hosting and consulting services in a variety of fields, including mainframe computers and nanotechnology, and is an expert in computer hardware, middleware, and software. A multiyear Strategic Collaboration Agreement between IBM and Amazon Web Services was announced by IBM in May 2022.
*Definition: The control of authorized access to digital content is known as digital rights management. The usage of proprietary hardware and works protected by copyright can be constrained by a variety of tools or technological protection measures, such as access control technologies
