DIGITAL RIGHTS MANAGEMENT MARKET ANALYSIS

Digital Rights Management MarketSize and Trends

The global digital rights management market is expected to witness significant growth during the forecast period (2020–2027), owing to increased adoption of digital rights management solutions due to rising security concerns in organizations. The extensive usage of computers and laptops lead to an increase in the number of hackers who intrude into government and corporate network to access critical information for monetary and business gain. Organization databases are the primary targets of cybercriminals, which increases the loss of personal and business information. Due to the increasing incidence of data breach and high profile data theft, organizations are deploying digital risk management (DRM) solutions. For instance, in July 2020, Microsoft, a U.S.-based technology company, launched a new security technology to prevent data corruption techniques that are adopted by cybercriminals on window 10 devices. Moreover, advancement in data security technologies such as end-to-end encryption has helped vendors to enhance data security solutions against threats and cyber-attacks. Third-party service providers and cloud service providers are offering digital right management solutions in order to meet the needs of government and business organizations. This, in turn, increases demand for digital rights management solutions to protect organizations from cyber threats.

The global digital rights management market was valued at US$ 2,940.7 Mn in 2019 and is expected to reach US$ 9,033.7 Mn by 2027.

North America held dominant position in the global digital rights management market in 2019, accounting for 45.2% share in terms of value, followed by Asia Pacific and Europe.