New York, United States , July 25, 2024 (GLOBE NEWSWIRE) -- The Global Digital Rights Management in Media and Entertainment Market Size is to Grow from USD 4.64 Billion in 2023 to USD 15.82 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 13.05% during the projected period.
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The term "Digital Rights Management" (DRM) alludes to the tools, methods, and regulations that the media and entertainment industries use to secure and manage the rights associated with digital content. Digital Rights Management signifies the process of shifting ownership of digital content from the owner to a computer program. Digital rights management aims to protect copyright holders' rights while also preventing information from being disseminated or altered without permission. Digital rights management is becoming more important as digital content spreads through peer-to-peer file sharing, torrent sites, and online piracy. It helps entertainment and media companies protect themselves from cybersecurity risks that all businesses face, such as securing consumer data, ensuring and demonstrating compliance, improving operational efficiency, and preventing downtime. The immense rise in digital video consumption has been fuelled mostly by customers' adoption of better-connected devices and an expanding number of endpoints. Partners in premium video content and streaming channels aiming to capitalize on the market's expanding commercial potential seek methods or platforms, such as OTT, to deliver high-quality audio and video content that attracts customers and improves the overall customer experience. Furthermore, media and entertainment companies must protect their content, including music files, films, and videos, as well as contract negotiations, screenplays, and edited sequences.
Browse key industry insights spread across 265 pages with 110 Market data tables and figures & charts from the report on the "Global Digital Rights Management in Media and Entertainment Market Size, Share, and COVID-19 Impact Analysis, By Applications (Mobile Content, Video on Demand (VoD), Mobile Gaming and Apps, eBook, and Others), By Enterprise Type (Small and Medium Enterprises (SMEs) and Large Enterprises), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The video on demand (VoD) segment accounted for the largest revenue share of the digital rights management in media and entertainment market during the projected timeframe.
Based on the applications, the digital rights management in media and entertainment market is categorized into mobile content, video on demand (VoD), mobile gaming and apps, eBook, and others. Among these, the video on demand (VoD) segment accounted for the largest revenue share of the digital rights management in media and entertainment market during the projected timeframe. The number of people with internet connections and cell phones has expanded drastically. Smartphone users can simply download and watch high-quality, premium video content available online. Because of the rising demand for high-quality video content, some premium content distributors and streaming partners are investing in digital rights management solutions to attract new audiences and boost revenue.
The large enterprises segment dominated the market with the highest market revenue share of digital rights management in media and entertainment market during the projected timeframe.
Based on the enterprise type, the digital rights management in media and entertainment market is categorized into small and medium enterprises (SMEs), and large enterprises. Among these, the large enterprises segment dominated the market with the highest market revenue share of digital rights management in media and entertainment market during the projected timeframe. Several companies are rapidly implementing DRM (digital rights management) solutions to manage the data of their enormous consumer bases. Resulting from increased spending on DRM technologies by major firms including streaming service providers, OTT channels, Pay TV service providers, and enormous manufacturing groups.
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North America is expected to hold the largest share of digital rights management in media and entertainment market over the forecast period.
North America is expected to hold the largest share of digital rights management in media and entertainment market over the forecast period. Increased investment in video-on-demand solutions, streaming content, gaming, and eBook distribution in the United States and Canada has helped the industry maintain its market dominance. North America's dominance in the digital rights management (DRM) business can be attributed to a number of factors, including major media and entertainment companies, technological breakthroughs, and rigorous intellectual property rights enforcement. In addition to well-established DRM systems and infrastructure, the region is renowned for its high levels of digital content consumption and mature industry. Furthermore, the region has created DRM systems.
Europe is predicted to grow at the fastest pace in the digital rights management in media and entertainment market during the projected timeframe. Digital rights management is a major European industry, particularly in the media and entertainment sectors. The area has a particular identity since the countries that together make up its constituents have a wide variety of constitutional limitations and digital content consumption inclinations. In Europe, there is a strong emphasis on copyright protection and data privacy, which contributes to the development of DRM technologies. Some of the opportunities for this sector of the economy include the growth of over-the-top (OTT) platforms, the transfer of information to multiple displays, and the desire for global content distribution that complies with local laws. Each of these components has a strong connection with the others.
Demand for digital rights management solutions in Asia Pacific is expected to increase. High population density, a surge in smartphone users, and greater internet speed are all encouraging individuals to explore mobile content, video on demand, and eBooks on the web. Content providers are increasingly collaborating with major streaming and OTT platforms to supply premium content to customers across these channels. However, secure delivery of such valuable content is vital, prompting distribution partners to invest in digital rights management technologies. As demand for streaming services, online gaming, and digital content distribution grows, the region is opening up a plethora of new opportunities for digital rights management systems.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the digital rights management in media and entertainment market include Inter trust Technologies Corporation, Microsoft, Vitrium, Apple Inc., Oracle Corporation, Veri matrix, EZDRM, VeriSign Inc., Kudel SKI SA, Acquia Inc., OVHcloud, HelpSystems, Edition Guard LLC., Irdeto, and others.
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Recent Developments
- In March 2024, Irdeto announced the launch of a new technology branded as a "watermarking solution" to prevent gaming leaks.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the digital rights management in media and entertainment market based on the below-mentioned segments:
Global Digital Rights Management in Media and Entertainment Market, By Applications
- Mobile Content
- Video on Demand (VoD)
- Mobile Gaming and Apps
- eBook
- Others
Global Digital Rights Management in Media and Entertainment Market, By Enterprise Type
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Global Digital Rights Management in Media and Entertainment Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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