New York, NY, May 17, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Digital Rights Management Market by Component (Software and Services), by Deployment (On-Premises and Cloud), by Application (Gaming, e-Books, Video on Demand, Digital Content, and Others), and by End-Use Industry (Retail, BFSI, Government Sector, Healthcare, Media & Entertainment, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global digital rights management market was USD 2,987 million in 2018 and is expected to reach USD 7,899 million by 2025, at a CAGR of 14.9% between 2019 and 2025.
Digital rights management (DRM) is an organized approach for copyright protection on digital platforms. The purpose of DRM solutions is to prevent any unauthorized distribution of digital content and confine ways by which other users can copy purchased content.
Browse through 111 Tables & 33 Figures spread over 174 Pages and in-depth TOC on “Global Digital Rights Management Market: Application, Size, Share, Trends, Industry Segments, and Forecast, 2018–2025”.
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The increasing adoption of digital rights management solution in the BFSI sector is driving the digital rights management market. Digital rights management solutions offer various benefits to the BFSI sector, such as data encryption, access to confidential documents on authorized personnel’s individual tablets and smartphones, etc. Various financial organizations are focusing on using these solutions to secure data along with identifying and preventing data thefts. Major market players, such as Oracle Corporation, are offering custom-made solutions for banks and other financial institutes. Furthermore, rising IT investments by financial institutes, such as Bank of America, JP Morgan, Morgan Stanley, Citigroup, etc., is fueling the demand for these solutions. However, the lack of awareness about technology usage may have an adverse effect on this market. Alternatively, the rising demand for cloud-based deployment is driving the demand for DRM solutions, which will fuel the digital rights management market globally over the forecast timespan.
Software and services form the component segment of the global digital rights management market. The software segment is expected to grow at a significant rate in the upcoming years, due to the rising adoption of technology in various sectors. Based on deployment, the global digital rights management market is bifurcated into on-premises and cloud. In terms of revenue generated, the cloud segment is projected to make substantial contributions over the forecast time span. The global expansion of numerous organizations has led to the demand for cloud-based deployment solutions. The end-use industry segment includes retail, BFSI, government sector, healthcare, media and entertainment, and others. The retail sector is expected to witness a substantial growth rate in the upcoming years, owing to the increasing online shopping trends recorded in the last few years.
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North America is anticipated to hold a significant chunk of the global digital rights management market during the estimated time span. With the presence of key players like Apple, Adobe Systems, Oracle Corporation, Microsoft Corporation, etc., the region is likely to generate huge market demand. The U.S. is a major contributor in terms of revenue in this regional market, due to the rising demand for digital rights solutions in the media and entertainment sector. In 2018, online video subscriptions in the U.S. alone reached 187 million, i.e., more than 17% from 2017. Companies like Netflix and Amazon Prime are opting for solutions that prevent any unauthorized distribution of their digital content.
The Asia Pacific is expected to grow substantially in the digital rights management market. India and China are projected to make major contributions for market development in the upcoming years, owing to the high technological adoption by the healthcare sector. The Indian hospitality industry is projected to reach about USD 132.8 billion by 2022. Furthermore, it is estimated that the IT investments in Chinese hospitals will reach around USD 9.8 billion by 2022. This, in turn, will further drive the Asia Pacific digital rights management market over the forecast time period.
Browse the full “Digital Rights Management Market by Component (Software and Services), by Deployment (On-Premises and Cloud), by Application (Gaming, e-Books, Video on Demand, Digital Content, and Others), and by End-Use Industry (Retail, BFSI, Government Sector, Healthcare, Media & Entertainment, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/digital-rights-management-market
The BFSI sector in Europe is among the most lucrative sectors for digital rights management market. The UK is one of the key countries for market players. Several financial institutes and banks in the region are spending on technology to secure digital solutions offered to their customers. In 2018, German Fintech organizations witnessed investments of about USD 1.1 billion. These investments are expected to rise over the coming years considering the increasing use of mobile banking. Thus, this region’s digital rights management market is expected to grow notably over the estimated time period.
The Middle Eastern and African digital rights management market is expected to witness a rise in the demand for digital right management solutions in the upcoming years. This growth can be attributed to the growing adoption of technology by the retail sector due to the increasing online retail sales in the UAE and Saudi Arabia. Thus, online retailers in the UAE are opting for DRM solutions to secure and prevent any replication of their digital content.
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Major players operating in the global digital rights management market include Apple, Adobe Systems, Dell EMC, Conax, Microsoft Corporation, Fasoo.com, OpenText Corporation, Intralinks Holdings, Oracle Corporation, and Verimatrix.
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This report segments the global digital rights management market into:
Global Digital Rights Management Market: Deployment Analysis
- On-Premises
- Cloud
Global Digital Rights Management Market: Component Analysis
- Software
- Services
Global Digital Rights Management Market: Application Analysis
- Gaming
- e-Books
- Video on Demand
- Digital Content
- Others
Global Digital Rights Management Market: End-Use Industry Analysis
- Retail
- BFSI
- Government Sector
- Healthcare
- Media and Entertainment
- Others
Global Digital Rights Management Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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