Digital Rights Management Market Projected to Achieve Remarkable 21.4% CAGR by 2030

WILMINGTON, DE, UNITED STATES, October 10, 2024 /EINPresswire.com/ -- The global digital rights management market Size was valued at $3.60 billion in 2020, and is estimated to reach a value of $24.63 billion by 2030, registering a CAGR of 21.4% from 2021 to 2030.

Government laws, standards and regulations such as GDPR to regulate intellectual property rights are fueling the growth of the digital rights management market in Europe with the growing popularity of unmanaged or over-the-top content (OTT) distribution through open Internet networks. Furthermore, cloud services are an effective way to optimize Digital Rights Management (DRM) operations, while taking advantage of a strong level of service. Transferring license keys and many security functions from client devices to servers has been simplified using the cloud deployment model. It allows easy maintenance, upgrades and support for multiple DRMs, formats, protocols and emerging business models. It is expected to offer significant growth opportunities to the DRM market. The BFSI sector in Europe is one of the most attractive sectors for the digital rights management market. The UK is one of the leading countries for market players.

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Digital rights management software is used to limit the use and further distribution of proprietary material through encryption technology and restrictive licensing agreements. The software prevents printing or copying, further limiting the number of devices on which digital media can be installed and thereby restrict the access to varied documents. Digital rights management deals with the digital content of a company to be used, which includes sources, coupled with the information on where the digital file originated and also the scope & reach of the associated access rights.

Digital rights management policy is also engaged in tracking whether the creative contents are procured or developed in-house and also delineates the authority for repurposing and relicensing across various projects. Various businesses are anticipated to implement bring-your-own-device. The extensive generation of web-based data thus results in the increase of demand for solutions pertaining to reformation of secured data access and its management. Efficient consistency and handling is required for organizational web-contents to be published on the website; as a result, need for access control is also expected to drive the DRM market.

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The mobile content segment also plays a significant role in the market, With the increasing use of smart phones, huge amounts of sensitive data containing sensitive information is being generated. As a result, many data security vulnerabilities arise. Mobile content is protected from cyber-attacks using the Digital Rights Management (DRM) system.

Major companies operating within the market are Adobe, Apple Inc., Dell Inc., DivX, LLC, Fasoo, International Business Machines Corporation, Microsoft Corporation, NEXTLABS INC., Oracle Corporation, and Sony Corporation

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