Vietnam Digital Rights Management Market to be dominated by Mobile Content through 2027
High demand for subscription-based entertainment tools and growing
popularity of online gaming are expected to drive the demand of Vietnam digital
rights management market through the forecast period, 2023-2027.
According
to TechSci Research report, “Digital Rights Management Market – Vietnam Industry
Size, Share, Trends, Opportunity, and Forecast, 2017-2027”,
the Vietnam digital rights management market is expected to grow at a steady
CAGR in the forecast period, 2023-2027. The major market drivers are an
increase in the monetization of digital content and a rise in use and
developments to use the internet as a platform for business.
Digital
rights management is crucial to protect against unwanted and uncontrolled
copying of products. It ensures no authorized access to the online platform by
checking the correct license template entered by the user. The owners can also
set specific rights, allowing that file to not be opened even when it is shared
and copied by users.
However,
the lack of awareness about digital rights management solutions may restrain
the market growth in the forecast period.
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Management Market"
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The
Vietnam digital rights management market is segmented into application, end
user, deployment, industry vertical, regional distribution, and company.
Based
on end user, the market is divided into SME and large enterprises. Large
enterprises are leading the market and are expected to hold the largest market
share for the next five years. Large enterprises generate vast amounts of data
daily and allocate vast amounts of funds for data protection and privacy.
Companies want real-time access to the business data along with transmission
and storage of data across mobile devices, Universal Serial Bus (USBs), cloud,
and disks as they provide the facility of bringing your own device to
employees. Businesses are opting for flexible work culture models to increase
productivity, which is expected to fuel the demand for digital rights
management solutions.
Based
on deployment, the market is bifurcated into on-premise and cloud. Cloud
solutions are expected to grow at the highest CAGR in the forecast period as
they are highly secure, flexible, and adaptable compared to the on-premises
model. It requires less investment than the on-premises model, eliminating the
need to invest in capital infrastructure. Enterprises are actively adopting
cloud-based solutions due to the growing amount of data generation, making
cloud-based deployment more convenient. Therefore, cloud-based solutions are
considered more convenient and cost-effective than the on-premises model, which
is expected to fuel the market demand for the next five years.
Based
on industry vertical, the market is divided into healthcare, music, education,
BFSI, legal/law, printing and publication, television and film, and others. The
television and film industry is expected to witness the fastest incremental
growth in the next five years owing to the increase in the consumption of
digital media and expansion of the consumer base of online content are
significantly influencing the market demand. The digital platform takes all
necessary steps to protect the data from getting violated to avoid monetary
losses. They are adopting data privacy and protection methods, thereby creating
the demand for digital rights management solutions.
Major
market players operating in the Vietnam digital rights management market are:
·
Apple
Inc.
·
Adobe
Systems
·
EMC
Corporation
·
Hewlett-Packard
·
IBM
·
Microsoft
Corporation
·
Oracle
Corporation
·
Realnetworks,
Inc.
·
Sony
Corporation
·
Verisign
Inc
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“The massive rise in the number of
smartphones and smart devices users is increasing the accessibility of digital
media for mobile devices. Increasing adoption of novel technologies such as the
internet of things, blockchain technology, and the launch of innovative digital
rights management solutions by the market players are expected to create
lucrative opportunities for the Vietnam digital rights management market.
Availability of local digital rights management solutions market players is
expected to attract foreign digital media players and organizations which is
expected to propel the Vietnam digital rights management market growth till
2027” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Digital Rights
Management Market – Vietnam Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027, Segmented By Application
(Mobile Content, Video on Demand, Mobile Gaming, eBook, others), By End User
(SME and Large Enterprises), By Deployment (On Premise and Cloud), By Industry Vertical
(Healthcare, Music, Education, BFSI, Legal/Law, Printing and Publication,
Television and Film, Others), and By Region”, has evaluated the future
growth potential of Vietnam digital rights management market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Vietnam digital rights management market.
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