LONDON, March 29, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the digital rights management market, increasing security concerns 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 the transmitting and storage of data across mobile devices, the cloud, universal serial bus (USB), and disks.
For instance, according to the 2021 Cyber Threat Report by SonicWall, there has been a 62% increase in ransomware since 2019. This number is still set to rise as cybersecurity attacks 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 the Gramm-Leach-Bliley Act (GLB Act or GLBA). Hence, the rise in security concerns is expected to create avenues for the digital rights management market growth.
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The global digital rights management market size is expected to grow from $3.80 billion in 2021 to $4.50 billion in 2022 at a compound annual growth rate (CAGR) of 18.47%. The change in the market's growth trend is mainly due to the companies' stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The global digital rights management market share is expected to reach $8.64 billion in 2026 at a CAGR of 17.68%.
According to the digital rights management industry report, North America was the largest region in the market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global digital rights management market during the forecast period. The regions covered in the global digital rights market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Advancements in data security technologies are gaining popularity in the digital rights management market. Digital rights management permits publishers or authors to regulate what paying users can do with their works. Technological advancements such as deceptive network technology and the adoption of end-to-end encryption further secure sensitive data from cyber-attacks. For instance, in February 2021, RAIR Technologies Inc. launched a decentralized digital rights management platform, built to power digital scarcity for creators.
Major players in the digital rights management market are Adobe Systems, Apple Inc., Dell EMC Corporation, Oracle Corporation, Microsoft Corporation, Fasoo Inc., Seclore Technology, Sony Corporation, Verisign Inc., Hewlett-Packard, Vera Security Inc., Vitrium Systems Inc., Nextlabs Inc., Intertrust Technologies Corporation, and Vobile Inc.
The global digital rights management industry analysis is segmented by application into mobile content, video on demand, mobile gaming, eBook, others; by end-user into SMEs, large enterprises; by industry into healthcare, music, education, BFSI, legal/law, printing and publication, software, television and film, others; by deployment mode into on-premise, on cloud.
Digital Rights Management Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide digital rights management market overviews, digital rights management market analyze and forecast market size and growth for the whole market, digital rights management market segments and geographies, digital rights management market trends, digital rights management market drivers, digital rights management market restraints, digital rights management market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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