Digital Rights Management Market Worth will Double by 2020
Dated: October 23, 2015
The new market research report "Digital Rights Management Market by Application (Mobile Content, Video on Demand, Mobile Gaming, eBook, others), by End User (SME and Large Enterprises), by Deployment (On-Premise and On Cloud) by Industry, and by Region - Global Forecast to 2020", published by MarketsandMarkets, define and segments the DRM market is estimated to grow from USD 1,066.3 Million in 2015 to USD 2,898.9 Million by 2020, at a CAGR of 22.1% from 2015 to 2020.
The recent developments in technology have given rise to different kinds of concerns pertaining to the internet. With downloading speeds becoming faster, more files are distributed over the internet; it could, for example, be music, books, pictures, movies, or basically anything that comes in the digital form. Not all of these files are currently shared legally. Usually a person, who has a license for a product, can easily copy and sell/give it all over the world, within minutes. It is hard to detect and stop these transactions. In order to manage and control the distribution of digital files, a new concept has been developed, called DRM (Digital Rights Management). The purpose is to set every single file with individual rights that are extremely hard to break, and consequently make people pay and use the files legally. The file will then be fully protected from intrusion and alteration until the set rights expire.
The DRM Market is expected to show tremendous growth from 2015 to 2020. The video on demand application is likely to offer great revenue generation opportunities for the content provider. The new DRM standards enable more than one user to share the same document over the internet. The usage of 802.11 is becoming a common standard for the service provider and is mostly used to connect smart devices with each other via DRM. It is important for the internet service providers to maintain DRM standards and understand its limits. The standards offer secured connectivity and services to the consumers. The upcoming changes and advancements in the wireless standards will only offer better experience to the consumer.
Major companies are collaborating with small and mid-sized enterprises to serve customers with seamless DRM technology. The top players also collaborate with healthcare and other publishing companies to deploy the DRM services. Factors such as growth in internet usage, increase in the usage of smart devices, increase in investments in wireless technology sector, advancements in the medical and healthcare sector are driving the growth for DRM Market. However, cyber-attacks and lack of common standards are restraining the growth of the DRM Market.
In developing countries such as China, India, and Brazil, the deployment and usage of DRM solutions is increasing due to intervention and support of the government. For instance, the Department of Information technology, Government of India, has initiated a project titled "Watermarking of digital audio and setting up of resource center for DRM systems" at the Centre for Development of Advanced Computing (CDAC), Thiruvananthapuram. The project also involves the adoption of various international standards to develop DRM systems for efficient and secure delivery of content (audio and video) over the internet.