Digital Rights Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Albany, NY -- (SBWIRE) -- 07/18/2018 -- According to a new report published by Transparency Market Research, the global digital rights management market is expected to reach value of US$ 9,086.8 Mn by 2026, due to significant rise in usage of digital rights management modules. The market is projected to expand at a CAGR of 15.3% from 2018 to 2026. This growth is attributable to the rising demand for advanced digital rights management solutions and services from industries and increasing adoption of on-premise deployment models to offer the finest services to clients. The digital rights management market in North America is anticipated to expand at a rapid pace during the forecast period, followed by Europe, Asia Pacific, Middle East & Africa, and South America. Furthermore, the global digital rights management market is undergoing an emerging stage and is anticipated to expand rapidly in the next few years.
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Increasing number of Internet users and rising popularity of social media platforms have resulted in creation of a large amount of digital content. Furthermore, digital conent created or utilized by enterprises is also anticipated to increase in the near future. Innovative content creation and sharing platforms are being incorporated within the enterprise infrastructure. This digital content needs to be securely stored and managed in order to comply with the legal requirements which include intellectual property (IP) rights. Piracy and thefts of the digital content is hampering the market and causing revenue losses for digital content owners and providers.
In one such scenario, in 2016, HBO, the leading player in the media & entertainment industry experienced revenue loss to a great extent, due to piracy of its popular show 'The Game of Thrones'. Hence, in order to generate and protect revenue from digital assets (including digital media, software, solutions, and services), the need to obstruct the piracy and unauthorized access to digital assets and to monitor the fair usage is increasing. This rising demand is anticipated to drive the global digital rights management market during the forecast period.
The digital rights management market can be segmented based on component, deployment model, and end-use. According to a research study, the global digital rights management market is dominated by the media & entertainment segment, which held a significant market share in 2016. This is primarily due to increasing demand from media & entertainment companies for enhanced control over images, videos, and audios from multiple sources.
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With the growing consumption of digital content and expanding subscriber base of Pay TV and IPTV, the media & entertainment segment is expected to hold the leading market share during the forecast period. In terms of deployment, the on-premise segment held a prominent market share in 2016 and is expected to continue its dominance throughout the forecast period.
North America led the global digital rights management market in 2016. This is primarily due to increasing adoption of IPTV, OTT, and IoT technologies among consumers in the region. The North America digital rights management market is estimated to expand at a significant rate during the forecast period. The digital rights management markets in Europe, Asia Pacific, Middle East & Africa, and South America are expected to expand at a rapid pace during the forecast period.