The digital rights management is an imperative tool for preventing digital content. Owing to the growing consumption of data in the digital format, the implementation of the solution is considerably augmenting. The increasing deployment of the 5G technology and the increasing utilization of IoT-based devices are predicted to increase the growth of digital content, which is predicted to foster the market for digital rights management (DRM). The growing real-time availability due to the trend of remote work is increasing demand for digital rights management (DRM) solutions to safeguard against copyright infringement, fostering market growth.
The advancement of the digital right management (DRM) industry can be accredited to the growing security concerns and increasing implementation of the solution among enterprises. The widespread implementation of the Bring Your Own Device (BYOD) trend among businesses is leading to the emergence of mobile technology, fostering the market growth. Due to the augment in digital broadcasting and content marketing, the industry will probably augment progressively in the review period. The digital rights management (DRM) industry is also predicted to increase owing to the growing government legislation, standards, and regulations ruling intellectual property rights and the increasing popularity of over-the-top content (OTT) delivery over an unmanaged or open internet network.
According to the SPER market research, ‘Digital Rights Management Market – By Deployment Mode, By Component, By Application, By Industries, By End Users- Regional Outlook, Competitive Strategies and Segment Forecasts to 2030’ state that the global digital rights management market is predicted to reach USD 11.27 billion by 2030 with a CAGR of 12.8%.
The global digital rights management (DRM) market is predicted to enlarge at a proficient pace throughout the review period, owing to the increasing demand for digital content security and management. Growing digital piracy and thefts of digital content call for content security and management solutions. This aspect is propelling the global digital rights management market. In addition, the acceptance of innovative revenue models and the introduction of stringent policies and regulations by governments for the prevention of intellectual property (IP) from unfair utilization of illegal competition is also propelling the digital rights management market.
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As of now, the global digital rights management market share was registered by video-on-demand by video-on-demand sector and is predicted to maintain its dominance during forthcoming years. It safeguards video content which confirms smooth delivery and playback. It also prohibits the usage of portable media devices to view these videos. This feature of preventing videos is propelling the acceptance of DRM solutions.
North America registered the global market in recent past years, registering for the major value of overall revenue share. The augmented spending on video-on-demand solutions, video streaming content, distribution of eBooks, and games around the U.S. and Canada have underwritten the region’s dominant position in the market. Moreover, the well-established digital infrastructure and the stringent standards connected to the digital content protection in the region can be accredited to the market growth.
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