Enterprise Digital Rights Management (EDRM) Market: Overview
Enterprise Digital Rights Management (EDRM) Market size is anticipated to be approximately US$ 3.54 Billion in 2022, and US$ 13.05 Billion in 2033. It is anticipated to increase at a CAGR of 12.7% between 2023 and 2033 and be valued US$ 3.93 Billion in 2023.
The Enterprise Digital Rights Management (EDRM) market has been growing rapidly in recent years, thanks to the increasing need for data security and privacy among organizations. EDRM refers to the set of technologies and policies used by organizations to control and protect their sensitive information from unauthorized access, use, or distribution. The EDRM market includes various solutions, such as encryption, access controls, digital watermarking, and policy management tools. EDRM solutions are used to protect confidential data, including intellectual property, financial records, and customer information, from external threats as well as insider threats.
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The growth of the market can be attributed to several factors, including the increasing number of cyberattacks and data breaches, the rise of cloud-based solutions, and the growing need for compliance with data protection regulations. In addition, the proliferation of mobile devices and the increasing use of social media platforms have made data protection even more critical, leading to a surge in demand for EDRM solutions.
One of the key drivers of the EDRM market is the increasing number of cyber threats and data breaches. This trend is likely to continue, as cybercriminals become more sophisticated in their attacks and organizations continue to rely on digital technologies. EDRM solutions can help organizations protect their sensitive data from cyber threats by implementing measures such as encryption, access controls, and digital watermarking.
Another factor driving the growth of the EDRM market is the rise of cloud-based solutions. As more organizations move their data and applications to the cloud, they face new challenges in terms of data security and privacy. Cloud-based EDRM solutions can help organizations protect their sensitive data by providing secure access controls, encryption, and policy management tools. In addition, cloud-based solutions can be more cost-effective than on-premises solutions, as they eliminate the need for expensive hardware and software installations.
The growing need for compliance with data protection regulations is also fueling the demand for EDRM solutions. With the implementation of regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), organizations face significant penalties for non-compliance with data protection regulations. EDRM solutions can help organizations achieve compliance by implementing measures such as data encryption, access controls, and policy management tools. In addition, EDRM solutions can provide organizations with audit trails and reporting capabilities to demonstrate compliance with data protection regulations.
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In conclusion, the EDRM market is rapidly expanding and evolving as organizations continue to prioritize data security and privacy. With the increasing adoption of cloud-based solutions and the growing number of cyber threats, the demand for EDRM solutions is likely to increase further in the coming years. As such, businesses should consider implementing EDRM solutions to protect their sensitive data and intellectual property from unauthorized access, use, and distribution. Investing in EDRM solutions can help organizations reduce their risk of cyber threats, safeguard their reputation, and maintain regulatory compliance.
EDRM Market: Key Players
Some of the key players in the global enterprise digital rights management market research report include
- Adobe
- Apple Inc.
- Dell EMC
- Hewlett Packard Enterprise
- Microsoft Corporation
- Oracle
- Realnetworks, Inc.
- Sony Corporation
- Verisign Inc.
- File Open Systems
- Bynder
- Vitrium Security
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Key Segments of enterprise digital rights management (EDRM) Market Industry Research
By Application:
- Mobile Content
- Video on Demand
- Mobile Gaming
- eBooks
- Others
By Enterprise Size:
- SMEs
- Large Enterprises
By Vertical:
- Banking
- Insurance
- Discrete Manufacturing
- Process Manufacturing
- Retail
- Media & Entertainment
- Healthcare
- Professional Services
- Telecommunication
- Government
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
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