Global Blockchain in Digital Rights Management Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Blockchain in digital rights management refers to utilizing blockchain technology to manage and protect digital content by controlling access to copyrighted material, ensuring the rights of copyright holders, and preventing unauthorized distribution and modification. The implementation of blockchain in DRM aims to build a decentralized, transparent, and tamper-proof system for tracking the ownership, distribution, and usage of digital assets.

Sizing and Forecast
The blockchain in digital rights management market size has grown exponentially in recent years. It will grow from $0.11 billion in 2023 to $0.16 billion in 2024 at a compound annual growth rate (CAGR) of 53.6%.  The growth in the historic period can be attributed to secure content distribution, anti-piracy measures, decentralized DRM demand, traditional DRM inefficiencies, fair compensation concerns, blockchain adoption, and content monetization platforms.

The blockchain in digital rights management market size is expected to see exponential growth in the next few years. It will grow to $0.92 billion in 2028 at a compound annual growth rate (CAGR) of 54.3%.  The growth in the forecast period can be attributed to digital content expansion, IP rights protection regulations, blockchain-DRM integration, smart contract royalty management, media industry blockchain adoption, NFT (non-fungible token) growth in digital asset ownership, interoperability focus in blockchain DRM. Major trends in the forecast period include integration of blockchain technology, adoption of smart contracts, growth in demand for blockchain-based solutions, development of decentralized content marketplaces, adoption of non-fungible tokens, integration with content management systems, increasing emphasis on interoperability standards, and development of blockchain-based identity solutions.

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Segmentation & Regional Insights
The blockchain in digital rights management market covered in this report is segmented –
1) By Type: Public Blockchain, Private Blockchain
2) By Application: Content Protection and Security, Royalty Tracking and Payments
3) By End User: Content Creators and Artists, Media and Entertainment Companies

North America was the largest region in the blockchain in digital rights management market in 2023. The regions covered in the blockchain in digital rights management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The rising popularity of online gaming is expected to propel the growth of blockchain in the digital rights management market going forward. Online gaming refers to the activity of playing video games over the Internet, whether via a computer, gaming console, or mobile device. The rise of online gaming can be attributed to several factors, such as the rise of esports, competitive gaming tournaments, live streaming platforms, and increased accessibility due to the proliferation of smartphones. The integration of blockchain technology into digital rights management in online gaming provides a decentralized, transparent, and secure framework for managing and protecting digital assets, such as in-game items, virtual currency, and game licenses. Blockchain can also improve interoperability and cross-platform compatibility, allowing players to use their digital assets across different games, platforms, and ecosystems. For instance, in May 2023, according to reports published by Uswitch Communications Ltd., a UK-based comparison service and switching website, sales of digital games in the UK increased by one million units between 2021 and 2022, from 61 million to 62 million. Additionally, roughly 40% of the world’s population are online gamers in 2023. Therefore, the rising popularity of online gaming is driving the growth of the blockchain in the digital rights management market.

Key Industry Players
Major companies operating in the blockchain in digital rights management market are Microsoft Corporation, Sony Corporation, International Business Machines Corporation , Oracle Corporation, Adobe Systems Incorporated, Verisign Inc., Kudelski Group , Blockchain.com Inc., ConsenSys LLC, Irdeto Inc., Exodus Information Technology Pvt. Ltd., Applied Digital Corporation, Mediachain Labs Inc., Axoni Inc., Eluvio Inc., Bitmark Inc., Custos Media Technologies Inc., Scenarex Inc., Pixsy Inc., Provenance Blockchain Inc., Binded Inc., Enterprise Ethereum Alliance, Theta Labs Inc., Publica Ltd., Gilgamesh Platform Inc., RecordsKeeper Technologies Inc.

The blockchain in digital rights management market report table of contents includes:
1. Executive Summary

2. Blockchain in Digital Rights Management Market Characteristics

3. Blockchain in Digital Rights Management Market Trends And Strategies

4. Blockchain in Digital Rights Management Market - Macro Economic Scenario

5. Global Blockchain in Digital Rights Management Market Size and Growth
.
32. Global Blockchain in Digital Rights Management Market Competitive Benchmarking

33. Global Blockchain in Digital Rights Management Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Blockchain in Digital Rights Management Market

35. Blockchain in Digital Rights Management Market Future Outlook and Potential Analysis

36. Appendix

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