Digital Rights Management in Media & Entertainment Market Size Worth $6.12 Billion By 2028: Grand View Research, Inc.
SAN FRANCISCO, Oct. 6, 2021 /PRNewswire/ — The global digital rights management in media & entertainment market is expected to reach USD 6.12 billion by 2028, expanding at a CAGR of 16.5% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. Rapid growth in digital media and internet connectivity globally have created immense opportunities for content publishers and content distribution partners to grow their creative media content. However, with the boost in digital technologies, digital piracy and illegal distribution of content have significantly increased, negatively affecting the monetization opportunities for content distributors and content owners. These challenges are compelling content owners to seek and exercise control over the unauthorized access and distribution of content.
Key Insights & Findings:
- The video on demand application segment is anticipated to expand at the highest CAGR over the forecast period. The growing demand for high definition and ultra-high-definition video content among users, along with the rise in the distribution of OTT services and streaming services are contributing to the segment growth
- The demand for DRM solutions among SMEs is expected to expand at a higher CAGR compared to large enterprises over the forecast period. The rise in the number of independent content providers and small-scale content developers requiring standard DRM solutions to secure their innovative and copyright contents can be attributed to the segment growth
- The increasing digital infrastructure across countries in the Asia Pacific region and the presence of several communication service providers offering low-cost digital mobile services has led to the rise in digital media consumption among consumers. The Asia Pacific regional market is anticipated to expand at a promising CAGR over the forecast period
Read 100 page market research report, “Digital Rights Management in Media & Entertainment Market Size, Share & Trends Analysis Report By Application (Mobile Content, Video on Demand, Mobile Gaming And Apps), By Enterprise Size, By Region, And Segment Forecasts, 2021 – 2028“, by Grand View Research
In the past few years, the demand for Digital Rights Management (DRM) solutions has gained immense prominence among content owners and content distribution service providers as DRMs secure real-time streaming services over insecure networks. DRM solutions also offer secure distribution of media content while maintaining the authentication and privacy rights of content owners. The persistent protection offered is also influencing several streaming service providers to adopt DRM solutions.
Moreover, the growing awareness about digital piracy among users is driving the adoption of DRM solutions globally. Several governments globally are looking for ways to establish stringent standards and policies to prevent digital piracy. For instance, the Digital Millennium Copyright Act, passed in 1998, still helps content developers, content acquirers, and content distributors to secure their content and criminalize the dissemination of content intended to bypass the control access of copyright content. The rising number of such standards and increasing awareness about content privacy and digital piracy are expected to drive market growth over the forecast period.
Grand View Research has segmented the global digital rights management in media & entertainment market based on application, enterprise size, and region:
- DRM in Media and Entertainment Application Outlook (Revenue, USD Million, 2017 – 2028)
- Mobile Content
- Video on Demand (VoD)
- Mobile Gaming and Apps
- DRM in Media and Entertainment Enterprise Size Outlook (Revenue, USD Million, 2017 – 2028)
- Large Enterprises
- DRM in Media and Entertainment Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Latin America
List of Key Players of the Digital Rights Management (DRM) in Media & Entertainment Market
- Apple Inc.
- Bitmovin Inc.
- BuyDRM Inc.
- EditionGuard LLC
- Google (Widevine)
- Intertrust Technologies Corporation
- Kudel SKI SA (Nagra)
Check out more studies related to digital and cyber threats, conducted by Grand View Research:
- Threat Intelligence Market – The global threat intelligence market size was estimated at USD 3.02 billion in 2016. Use of intelligence is increasingly gaining strategic imperative amongst organizations to understand the threats based on available data points, which may propel the industry growth over the forecast period.
- Cyber Security Market – The global cyber security market size was valued at USD 167.13 billion in 2020 and is expected to register a CAGR of 10.9% from 2021 to 2028. The growth of the market can be attributed to the growing sophistication of cyberattacks.
- Zero Trust Security Market – The global zero trust security market size was valued at USD 19.8 billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 15.2% from 2021 to 2028. The proliferation of endpoint devices, coupled with the rising adoption of cloud technology, has triggered the need for implementing a zero-trust security framework.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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