Market Challenges And Opportunities

The high cost of digital right management solutions is expected to hinder the market growth. The cost includes software license fee, deployment fee, maintenance fee, development fee, and others. The cost of DRM software is between U$$ 16,000 and US$ 25,000. For instance, Adobe Inc. provides digital right management solution with a license fee of US$ 10,000, maintenance cost of US$ 1,500, a deployment fee of US$ 15,000, and a development fee of US$ 10,000. These factors are expected to hamper the market growth during the forecast period.

Digital Rights Management Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 pandemic is expected to drive growth of the market during the forecast period. Due to the Covid-19 pandemic, many industries have witnessed a significant positive shift in in their businesses. There has been a significant impact on growth of the digital rights management market. Moreover, several cases of cybercrimes have been observed. Cyber threat has been increasing, as every part of the demographic has searched information related to COVID-19 by using a malicious domain name registered with names such as COVID-19 or coronavirus. For instance, according to Palo Alto Networks Inc., around 40,261 suspicious registered domain names were identified at the end of March 2020. Moreover, in the recent times, the use of identical business email addresses are also used to carry out cyber-attacks. Due to the rise in cyber threats, several organizations are adopting digital rights management solutions to mitigate threats and risks. This, in turn, drives growth of the digital rights management market.

North America is expected to hold dominant position in the global digital rights management market during the forecast period