According to the report titled ‘Global Digital Rights Management in Media & Entertainment Market Size study, by Application (Mobile Content, Video on Demand, Mobile Gaming And Apps), By Enterprise Size (SMEs, and Large enterprises) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global digital rights management in media & entertainment market was evaluated at USD 1.74 billion in 2020 and is expected to grow at a healthy pace at 16.5% CAGR, thus reaching USD 5.1 billion by the year 2027.
 

Rising cognizance about digital piracy, and subsequent introduction of strict rules & regulations to combat this issue is propelling the growth of global digital rights management in media & entertainment market.
 

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Notably, digital rights management (DRM) is the process by which an owner of any artwork can prevent someone from duplicating, publishing, and modifying their copyrighted works. It's an essential prerequisite for disclosing information like a pricing list, contract details, analyst's report, magazine, or journals with others.
 

Emphasis among companies to secure private information, safely share documents with third parties, and to audit documents is encouraging the adoption of DRM systems. Also, several countries are striving to enact strong laws and regulations to counter digital piracy and content piracy, which is driving growth of worldwide digital rights management in the media & entertainment market.
 

Based on application scope, global digital rights management in media & entertainment industry is categorized into video-on-demand, mobile content, eBook, mobile gaming & apps, and others. In terms of enterprise size, the market is divided into large enterprises, and SMEs.
 

As per the regional terrain, North America accounted for the largest market share in 2020, owing to increased spending on video-on-demand solutions, games, video streaming content, and eBook distribution across the United States and Canada.
 

Meanwhile, Asia Pacific market is likely to grow at a CAGR of 20% over the forecast period. Due to high population density, soaring smartphone users, and greater internet capacity, consumers are encouraged to read mobile content, video on demand, and eBooks via the internet, thus bolstering the demand for DRM solutions.
 

Speaking of the competitive landscape, the top tier players in global digital rights management in media & entertainment market include Kudelski SA, Google LLC, Intertrust Technologies Corporation, Microsoft Corporation, Adobe Inc., Irdeto, Oracle Corporation, Apple Inc., Vitrium Systems Inc., and Bitmovin Inc. among others.