Information Rights Management Market: Size, Dynamics, Regional Insights and Market Segment Analysis

Information Rights Management Market was valued at USD 1.63 Billion in 2022, and is expected to reach USD 4.81 Billion by 2029, exhibiting a CAGR of 16.71% during the forecast period (2023-2029)

Information Rights Management is a system of IT security technology, which is used to protect documents covering sensitive information from unauthorized access. It protects files from unauthorized copying, viewing, printing, forwarding, deleting, editing. And generally, encrypts files to enforce access policies.
Information Rights Management Market Overview:
The industry mobility, stringent regulations and the adoption of digital rights management solutions across many verticals like Banking, Financial Services, and Insurance (BFSI), Research and publications, Education, Law, Healthcare and pharmaceuticals, Government, Software and technology, Manufacturing and Others are some of the prominent factors that drive the information rights management market growth. High adoption rate of innovative wireless devices, and use of the internet are also expected to boost the growth of the information copyright management market during the forecast period.

Enterprises are being transformed by their growth and acquisitions, which is leading to a multi-geography spread of the enterprise information flow. New ways of digital working, content explosion across the enterprise, new digital channels, content mobilization, content on cloud, and a multi-organization ecosystem with even more regulatory pressures and content platform consolidation are factors that drive the demand for information rights management solutions. Companies operating in the market are planning to implement intellectual property (IP) rights, which is expected to drive the demand for information rights management and licensing. High usage of digital documents like PDFs, word documents, and emails are boosting the market growth.To know about the Research Methodology:- Request Free Sample Report
Information Rights Management Market Dynamics
Emerging Cyber Threats:

An increase in concern for information loss or theft is the major factor driving the need for information rights management solution. Cybersecurity is constantly evolving and it is important for IT security departments to stay updated on the latest kind of threats. One of the vital steps in cybersecurity management is to understand security risks in the context of business. It is critical for the businesses to implement appropriate control over their infrastructure security. Cyber-attacks are expected to hit organisations of any size and type. It can be targeting the organisation as a whole or an attack, which aims to get something specific like sensitive company data.

The adoption of information rights management solutions is increasing because of the high security concerns in large- and small-scale organizations. An extensive usage of information data is expected lead to an increase in the number of hackers who encroach into government and corporate network to access critical information for monetary. The Organization databases are the main targets of cybercriminals, that increases the loss of personal and business information. As high incidence of data breach and high-profile data theft occurring, many organizations are deploying information rights management.

Demand for OTT Content Delivery is expected to Remain High During the Forecast Period:

The OTT (over-the-top) content delivery model is becoming one of the major trends in the modern entertainment sector. With above 500 hours’ worth of videos being uploaded on YouTube every minute and with over 2 billion monthly users, YouTube has become a significant platform in the entertainment sector to reach and maintain their audiences. Furthermore, paid OTT media platforms like Amazon Prime, Netflix, Hulu Disney Plus, and others, are assisting their users to enjoy big-budget content they like at the convenience of their homes. This is authorizing the growth of OTT platforms, which allow various digital rights management policies to safeguard and monetize their content, henceforth adding to the growth of the digital rights management sector.

High Dependency on Digital Documents for Business-Critical Transactions:

The demand for digital documents in enterprises for performing business-critical transactions is highly driving the Information Rights Management market. Additionally, the users in any enterprise have access documents and files while at traveling and home, on PCs and mobile devices, and offline & online. This leads to serious security issues and poses many risks. Therefore, the IRM provides the enhanced solution to the enterprises for handling the transaction from any remote location and controlling the content.

Information Rights Management Solutions Limitations:

One of the limitations about information rights management solutions is that they require the user to have specialized IRM software installed on their computer to open any file with protections applies. Many enterprises are seeking to limit information rights management solutions protection only to files, which require protection based on their content. Despite the fact that information rights management solutions can solve a lot of the security issues that arise when documents are shared, there are still simple workarounds, which can negate the benefits of information rights management solutions.
Information Rights Management Market Segment Analysis
The cloud segment held the largest Information Rights Management market share of nearly 67.59% in 2022 thanks to rising digitalization and presence of information Rights Management users. The COVID-19 pandemic had forced numerous organizations to work from home, which surged the demand for an information rights management solution, which can protect the rights of the sensitive data. Many information Rights Management users are preferring the cloud deployment type because of its cost-effectiveness and its reimbursements. It is highly scalable, flexible, and cost-effective and offers a paid model according to end-user requirements, which is the factor that boosts the information rights management market growth.

The banking, Financial Services, and Insurance (BFSI) segment is expected to grow at the highest CAGR of nearly 17.84% during 2023-2029. The banking, financial services and insurance (BFSI) sector is a major target for cyber-attacks, and the penalties of loss, leakage or theft of BFSI data are severe. Information rights management (DRM) is expected be an essential solution in the toolbox of IT teams operating in the sensitive and highly-regulated banking, Financial Services, and Insurance (BFSI) segment field.

A robust enterprise file security suite with the complete information rights management solution, helps IT teams ensure that sensitive data remains under their control within and beyond the corporate network. Banking, Financial Services and Insurance (BFSI) is expected to grow exponentially across the developing economies because of the per capita income, introduction of new products, innovation in technology, expanding distribution, networking and increasing customer awareness of financial products. The industry has adopted IT as an integral part of business strategy, where information rights management is well positioned to provide various services on such IT platforms. BFSI organizations can keep their most sensitive data under their control with enterprise IRM solutions.

A credit card company or large bank collaborates with more than 20,000 partners and third parties. The challenge with outsourcing and external collaboration is still there, as once these third parties receive sensitive information, the bank loses all control over it. In some cases, the third-party partners & outsource organizations may not possess enough security devices and infrastructure. The demand for Information Rights Management is expected to increase as it will enable the banking and financial institutions to ease security risks and collaborate with external parties. Key Players operating in the market are ensuring end-to-end protection of information shared within and outside the enterprise.
Information Rights Management Market Regional Insights
North America region held largest share in Information Rights Management Market in 2022. The North America information rights management market is expected to register a CAGR of 18.56% during 2023-2029. The major factors driving the growth of the information rights management market are the rapid adoption of data and information protection tools, and the growing adoption of OTT, IPTV, and IoT technologies by consumers.

Moreover, the presence of a majority of companies in the U.S. for example Microsoft, Adobe, Nextlab, which are offering Information Rights Management solution is enhancing the growth of the market in North America. Preventing and securing sensitive data from unauthorized access has been the main concern for IT organizations. IRM solutions are gaining significant importance for securing information and access rights of the document to reduce risk of data loss and misuse across well established IT sectors in America is expected to drive the adoption of information rights management.

Asia Pacific is Projected to be leading Region:

The high consumption of digital media content and the practice of digitization of enterprises in developing economies in increasing because of the presence of IT firms, youth population of smart device adopters and adoption of technological advancements. High speed of internet speeds, coupled with the number of devices supporting the access of digital media are expected to increase the the freedom of consumers to access media content across Asia Pacific. Many organizations are adopting data information rights management software management system for securing information for their usages in Banking sector across China and India. Leading market key players are working to demonstrate the opportunity to information rights management market in Asia Pacific. High adoption of innovative technology, IoT, and big data generates high amount data that drive the need for information rights management.
Report Scope
The Information Rights Management Market reports cover recent developments in the rights management market as organic and inorganic business growth strategies. Many companies are focusing on organic growth strategies for expansion of business and customer base of market players. The key players operating in the information and rights management market are expected to offers services in the future with the high demand for information and rights management service. The objective of the report is to present a comprehensive analysis of the global information rights management market to the stakeholders in the industry.

The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report.
Information Rights Management Market Scope: Inquire before buying



Information Rights Management Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.63 Bn.


Forecast Period 2023 to 2029 CAGR:
16.71%
Market Size in 2029:
US $ 4.81 Bn.


 Segments Covered:
by Components
1. Solutions
2. Services


by Organization Size
1. Large enterprises
2. Small and Medium-sized Enterprises (SMEs)


by Deployment Type
1. On-premises
2. Cloud


by Vertical
1. Banking, Financial Services, and Insurance (BFSI)
2. Research and publications
3. Education
4. Law
5. Healthcare and pharmaceuticals
6. Government
7. Software and technology
8. Manufacturing
9. Others



Information Rights Management Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Information Rights Management Market, Key Players are:
1. Adobe
2. Microsoft
3. Oracle
4. Seclore
5. Vaultize
6. Nextlabs
7. Opentext
8. Vitrium
9. Citrix
10. Copyright Clearance Center
11. Intralinks
12. Locklizard Limited
13. Sealpath
14. Vera Security
15. Covertix
16. Finalcode
17. Fasoo
18. Fileopen
19. Gigatrust
20. Infosaas
21. Network Intelligence
22. Skyhigh
23. Traxion

Frequently Asked Questions:

1] What segments are covered in the Global Information Rights Management Market report?
Ans. The segments covered in the Information Rights Management Market report are based on Component, Organization Size, Deployment Type, and Vertical.

2] Which region is expected to hold the highest share in the Global Information Rights Management Market?
Ans. The North America region is expected to hold the highest share in the Information Rights Management Market.

3] What is the market size of the Global Information Rights Management Market by 2029?
Ans. The market size of the Information Rights Management Market by 2029 is expected to reach USD 4.81 Bn.

4] What is the forecast period for the Global Information Rights Management Market?
Ans. The forecast period for the Information Rights Management Market is 2023-2029.

5] What was the market size of the Global Information Rights Management Market in 2022?
Ans. The market size of the Information Rights Management Market in 2022 was valued at USD 1.63 Bn.