The Digital Rights Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Digital Rights Management Global Market Report 2024, The digital rights management market size has grown rapidly in recent years. It will grow from $5.11 billion in 2023 to $5.95 billion in 2024 at a compound annual growth rate (CAGR) of 16.5%. The growth in the historic period can be attributed to media industry evolution, globalization of content distribution, monetization strategies, emergence of mobile devices, digital advertising protection, regulatory compliance.
The digital rights management market size is expected to see rapid growth in the next few years. It will grow to $11.35 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to rising cyber threats, cross-platform compatibility, personalized content delivery, hybrid content models, focus on content security. Major trends in the forecast period include cloud-based DRM solutions, integration with analytics, blockchain for DRM, subscription and streaming services, collaboration with AI and machine learning, augmented and virtual reality (AR/VR).
Increasing security concerns have contributed to the growth of the digital rights management market. The extensive use of PCs and laptops has led to an increase in the number of hackers who intrude into corporate and government networks to access and steal critical information for monetary and business gains. Additionally, corporations are looking for a real-time approach to business data along with transmitting and storing data across mobile devices, the cloud, universal serial bus (USB), and disks. For instance, according to the InfoSecurity reports, ransomware damages are expected to exceed $30 billion globally in 2023. This number is still set to rise as cyberattacks are becoming more complex and difficult to detect. Digital rights management is also used by healthcare organizations and financial services firms to ensure compliance with data privacy and protection standards such as HIPAA (Health Insurance Portability and Accountability) and Gramm-Leach-Bliley Act (GLB Act or GLBA). Hence, the rise in security concerns is expected to create avenues for market growth in the digital rights management market.
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The digital rights management market covered in this report is segmented –
1) By Application: Mobile Content, Video On Demand, Mobile Gaming, eBook, Other Applications
2) By End Users: SMEs, Large Enterprise
3) By Industries: Healthcare, Music, Education, BFSI, Legal/Law, Printing And Publication, Software, Television And Film, Other Industries
4) By Deployment Mode: On-Premise, On Cloud
Major companies operating in the digital rights management market are developing innovative technologies, such as the digital rights management tool, to provide a complete digital rights management and licensing solution. Digital rights management (DRM) tools are software or hardware technologies designed to control access to and use of copyrighted digital content. For instance, in October 2022, Songtradr, a US-based B2B music platform, launched SMART SYNC, which uses advanced technology to track, control, and monetize music catalogs. Watermarking technology, a crucial component of Smart Sync, addresses the intrinsic licensing issues that video games and digital platforms confront. Additionally, through Songtradr Group companies like Big Sync Music and MassiveMusic, the solution gives portfolios direct access to prospects for worldwide brand sync.
The digital rights management market report table of contents includes:
- Executive Summary
- Digital Rights Management Market Characteristics
- Digital Rights Management Market Trends And Strategies
- Digital Rights Management Market - Macro Economic Scenario
- Global Digital Rights Management Market Size and Growth
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- Global Digital Rights Management Market Competitive Benchmarking
- Global Digital Rights Management Market Competitive Dashboard
- Key Mergers And Acquisitions In The Digital Rights Management Market
- Digital Rights Management Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- Apple Inc
- Alphabet Inc
- Microsoft Corporation
- Sony Corporation
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Over the past few decades, the new technological, social, management, and organizational issues digitize the information enabling sharing of information across the globe, and the increase in digital broadcasting and content marketing is booming the demand for digital rights management software for the protection of the information shared.
Digital rights management (DRM) software offers users a variety of features planned to preserve their content and ensure it is accessed within their designated parameters.
Businesses are constantly sharing files internally and externally, and many others share host media files regularly.
Advance Market Analytics released a new market study on Global Digital Rights Management Software Market with 100+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis.
A special chapter in the study presents Impact Analysis of COVID-19 on Global Digital Rights Management Software Market along with tables and graphs related to various country and segments showcasing impact on growth trends.
What's Trending in Market:Government Support and InvestmentsChallenges:Lack of Awareness About the Difference Between Encryption and DRMRestraints:Lack of A Common StandardMarket Growth Drivers:Growth in Internet UsageRising Concerns About Data Loss and TheftThe increasing array of content available over the internet The Global Digital Rights Management Software Market segments and Market Data Break Down are illuminated below: by Deployment Mode (On-Premise, Cloud-Based), Organization size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), Pricing Options (Monthly Subscription, Annual Subscription, One-Time License), Component (Solution, Services) To comprehend Global Digital Rights Management Software market dynamics in the world mainly, the worldwide Digital Rights Management Software market is analyzed across major global regions.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the music rights management market include BMG Rights Management GmbH, China Record Corporation, Peermusic.com, Inc., The Royalty Network, Inc.,and Merlin Network Company Limited.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Music Rights Management Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/music-rights-management-market/download-sampleMarket DynamicsIncreasing awareness among songwriters and music artists regarding music rights management platforms is a fundamental market driver for the market growth of music rights management.
Increasing demand for music rights management solutions to ensure that music or royalties are collected and paid to the artists will also drive the growth of the music rights management market.
Moreover, the increasing investment in digital rights management systems to control the illegal copies available online as well as offline is expected to further fuel the market growth.
However, the availability of open-source music rights management solutions may hamper the market growth of music rights management.
