The Digital Rights Management (DRM) market was valued at US$2.9 million in 2019, and is expected to reach $6 million by 2025, registering a compound annual growth rate of 12.65%, by 2025. The continuous evolution of the Internet as a platform for business and trade and the success in monetizing digital content are driving the market growth, according to Reportlinker.
The research group says here are the reasons for the growth:
° Various businesses are anticipated to implement bring-your-own-device (BYOD) policies wherein the employees use their own devices for accessing the company information, furthermore, expanding the risk of proprietary document theft to the mobile platforms which will drive the demand of DRM.
° Globally, many laws have been created that criminalize the circumvention of DRM, communication about such circumvention, and the creation and distribution of tools used for such circumvention. Such laws are part of the United States’ Digital Millennium Copyright Act, and the European Union’s Information Society Directive. The French DADVSI is an example of a member state of the European Union (EU) implementing the directive.
° Companies are focusing on innovations, such as blockchain-based DRM systems, which can contribute in the rapid adoption of DRM. For instance, Sony announced its blockchain-based DRM, which is expected to be built on the already existing DRM system used by the company to track the distribution of its copyrighted products.
° The outbreak of the novel coronavirus has led to lockdowns in many countries, in order to contain the virus. This led to an increase in OTT viewership, as OTT players are re-vamping their content plans to meet the demand from every genre. People are watching the content using their mobile devices, which has been leading to an increase in the use of DRM and therefore the market is not expected to be negatively impacted by COVID-19.