The digital rights management market size is projected to grow from USD 4.3 billion in 2022 to USD 7.9 billion by 2027, at a CAGR of 13.0% during the forecast period. Greater need to protect intellectual property and increase in penetration of digital devices and technology is driving the digital rights management market growth.
Various globally established players such as Adobe Systems (US), Google LLC (US), Microsoft Corporation (US), Apple (US), Oracle (US) are dominating the digital rights management market. These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the digital rights management market.
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Apple Inc. (US) held the majority of the digital rights management market share in 2021. Apple, Inc.’s product portfolio includes the iPad, iPhone, Mac, Apple TV, and iPod. Apple’s services consist of iCloud and support services. Apple’s solution for digital rights management, FairPlay ensures the secure streaming of audio and video on devices. In May 2022, Apple added an auto-renewable feature to automatically renew their subscription to enable people to access content and services. The app provided email, notifications, and messages to notify subscribers about new changes and allowed them to manage their subscriptions. In April 2020, Apple and Google partnered to develop a solution to securely store and share patient information during the pandemic. The app is developed to ensure data protection, privacy, and information security.
Another important player in digital rights management market is Oracle (US). Oracle develops and markets database platforms, middleware software, application software, cloud infrastructure systems, computer servers, storage and networking products, and related services. Oracle offers a comprehensive and broad portfolio of cloud solutions for business functions, such as Enterprise Resource Planning (ERP), human capital management, customer experience, and Supply Chain Management (SCM). In August 2020, Using Sourcepoint’s platform, Oracle customers would be able to optimize the privacy experience while leveraging compliant consumer data to strengthen customer relationships and deliver more relevant customer experiences. In July 2020, Oracle released the Enterprise Single Sign-On Suite Plus (ESSO) terminal proactive patch for 18.104.22.168.2. This release was identified as Patch 31071051.
Digital Rights Management Market by Component (Solutions and Services), Application (Audio Content, Images, Video Content, Confidential Documents, Software & Games), Deployment Mode, Vertical, Organization Size and Region - Global Forecast to 2027
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