During the Covid-19 crisis, the digital rights management (DRM) technology market was estimated to reach $3.3 billion in 2020, projected to potentially reach $8.2 billion by 2027, growing at a rate of approximately 13.7% between 2020 and 2027.
Within the field of DRM for television and entertainment, one of the segments in the report, it was forecasted to achieve a record growth of 14.6%, reaching $5.5 billion by the end of the research period. After an assessment of the pandemic’s impact on business operations, the growth of DRM for enterprises was adjusted to 12.9% over the next seven years.
The DRM market in the United States was estimated to be $900.6 million, while China was expected to grow by 18%.
The DRM market in the United States was estimated at $900.6 million in 2020. China, the world’s second-largest economy, was forecasted to reach $1.9 billion by 2027, with a growth rate of 18% between 2020 and 2027. Other notable markets include Japan and Canada, each predicted to grow by 9.6% and 12%, respectively, during the 2020-2027 period. In the European region, Germany was projected to grow at a rate of 10.8%.
The software DRM segment achieved a record growth of 11.1%.
For the global software DRM segment, the United States, Canada, Japan, China, and Europe were estimated to grow at a rate of 10.4%. Markets in this region, accounting for about $465.5 million in 2020, were expected to reach $930.5 million by the end of the research period. China was expected to be the fastest-growing country in this cluster. Led by Australia, India, South Korea, the Asia-Pacific market was forecasted to reach $1.2 billion by 2027, while Latin America was expected to grow at a rate of 12.7% throughout the research period.
DRM, or Digital Rights Management, is a method of protecting digital content from viewers by preventing actions such as copying or copyright infringement. DRM has evolved into a must-have tool for any on-demand video streaming platform. DRM ensures that video content is stored and transformed into an encrypted format, allowing only authorized users and devices to view the video.
In simple terms, DRM is a technology that prevents copyright violations by content creators to restrict unauthorized use of digital content. The main purpose of DRM is to prevent users from accessing, copying, and sharing content illegally.