Digital Rights Management Global Market Report 2024

The digital rights management market size has grown rapidly in recent years. It will grow from $5.11 billion in 2023 to $5.95 billion in 2024 at a compound annual growth rate (CAGR) of 16.5%. During the historical period, the growth can be attributed to the evolution of the media industry, the globalization of content distribution, various monetization strategies, the emergence of mobile devices, efforts in digital advertising protection, and adherence to regulatory compliance.

The digital rights management market size is expected to see rapid growth in the next few years. It will grow to $11.35 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The increase projected for the upcoming period is due to the escalation of cyber threats, cross-platform adaptability, tailored content delivery, hybrid content models, and a heightened emphasis on content security. Key trends anticipated during this period encompass cloud-based DRM solutions, integration with analytics, the incorporation of blockchain for DRM, the prominence of subscription and streaming services, collaborative efforts with AI and machine learning, and the integration of augmented and virtual reality (AR/VR).

The digital rights management market is experiencing growth due to increasing security concerns. The widespread use of PCs and laptops has attracted hackers who seek unauthorized access to corporate and government networks, aiming to steal critical information for financial and business gains. Corporations are increasingly adopting real-time approaches to managing business data, including transmission and storage across mobile devices, the cloud, USBs, and disks. As reported by InfoSecurity, global ransomware damages are projected to exceed $30 billion in 2023, highlighting the escalating threat. The complexity and sophistication of cyberattacks contribute to the challenge of detection. Digital rights management is also adopted by healthcare and financial services organizations to ensure compliance with data privacy and protection standards such as HIPAA and the Gramm-Leach-Bliley Act. This growing concern for security is expected to drive market growth in the digital rights management sector.

The digital rights management market is poised for growth due to the widespread adoption of digital devices and technology. These devices, utilizing digital data, serve various purposes such as creating high-quality educational and entertaining content such as slide presentations, music, multimedia collages, photo art, interactive eBooks, movies, and designs for 3D printing. It becomes imperative for content providers to prevent unauthorized transfer of information across devices. In 2022, the National Association of Software and Service Companies reported a 6% increase in tech spending compared to 2021, underscoring the growing influence of digital devices and technology. This surge is a significant driver for the expanding digital rights management market.

The digital rights management market is witnessing increased adoption due to advancements in data security technologies. Digital rights management empowers publishers or authors to control the actions of paying users regarding their works. Technological innovations, including deceptive network technology and the widespread use of end-to-end encryption, play a crucial role in enhancing the security of sensitive data, guarding against cyber-attacks. As an example, in February 2021, RAIR Technologies Inc. introduced a decentralized digital rights management platform designed to enforce digital scarcity for creators. This reflects the industry's commitment to leveraging advanced security technologies to protect digital content and intellectual property.

Major companies in the digital rights management market are at the forefront of developing innovative technologies, including advanced digital rights management tools, to offer comprehensive solutions for digital rights management and licensing. Digital rights management tools, whether in the form of software or hardware, are designed to regulate access to and usage of copyrighted digital content. A notable example is Songtradr, a US-based B2B music platform, which launched SMART SYNC in October 2022. This tool employs advanced technology to monitor, control, and monetize music catalogs. The inclusion of watermarking technology in SMART SYNC addresses inherent licensing challenges faced by video games and digital platforms. Moreover, through Songtradr Group entities such as Big Sync Music and MassiveMusic, the solution provides portfolios with direct access to potential opportunities for global brand synchronization. This highlights the ongoing commitment of major companies to leverage cutting-edge technologies for digital rights management solutions.

In a significant move in September 2021, Hewlett Packard Enterprise (HPE), a US-based edge-to-cloud company, acquired Zerto for $374 million. This strategic acquisition not only places the HPE GreenLake edge-to-cloud platform in the rapidly growing data protection market but also positions HPE's storage business as a player in the cloud-native, software-defined data services business. Zerto, the acquired company, is a renowned industry leader in cloud data management and protection, adding valuable expertise and capabilities to HPE's portfolio. This acquisition reflects HPE's commitment to expanding its offerings and capabilities in the evolving landscape of data management and protection.

Major companies operating in the digital rights management market report are Apple Inc., Alphabet Inc., Microsoft Corporation, Sony Corporation, International Business Machine Corporation, Oracle Corporation, Canto Inc., OpenText Corporation, Intralinks Holdings Inc., Kudelski Group, Irdeto B.V., Bynder, BuyDRM Inc., EditionGuard LLC, Vera Security Inc., Fasoo Inc., Intertrust Technologies Corporation, NextLabs Inc., Conax AS, Adobe Systems Incorporated, Verimatrix Inc., Seclore Technology, Bitmovin Inc., Vaultize Technologies Private Limited, Vitrium Systems Inc., FileOpen Systems Inc., Digify Inc., CapLinked Inc., EZDRM Inc., Locklizard Limited, Verance Corporation, MediaSilo Inc., Cinedigm Corp., Friend MTS Ltd.

North America was the largest region in the digital rights management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital rights management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the digital rights management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The digital rights management market includes revenues earned by entities by providing services such as software licenses and keys, user authentication and IP authentication protocols, proxy servers, virtual private networks (VPNs), regional restriction or geoblocking. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.