Blockchain in Digital Rights Management Global Market Report 2024

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 observed during the historic period can be attributed to several key factors. These include the need for secure content distribution, the implementation of anti-piracy measures, the increasing demand for decentralized Digital Rights Management (DRM) solutions, the inefficiencies of traditional DRM systems, concerns regarding fair compensation for content creators, the adoption of blockchain technology, and the development of 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 anticipated growth in the forecast period can be attributed to several drivers. These include the expansion of digital content, the enactment of regulations aimed at protecting intellectual property rights, the integration of blockchain technology, the adoption of smart contracts for royalty management, the increasing adoption of blockchain within the media industry, the growth of non-fungible tokens (NFTs) for digital asset ownership, and a heightened focus on interoperability in blockchain DRM solutions. Major trends expected in the forecast period encompass the widespread integration of blockchain technology into DRM systems, the adoption of smart contracts for managing royalties, a surge in demand for blockchain-based solutions, the development of decentralized content marketplaces, the increasing adoption of non-fungible tokens(NFTs), integration with content management systems, a growing emphasis on interoperability standards, and the development of blockchain-based identity solutions.

The surging popularity of online gaming is poised to drive significant growth within the blockchain in the digital rights management market in the foreseeable future. Online gaming, encompassing the activity of playing video games over the Internet across various platforms, has witnessed a meteoric rise driven by several factors, including the emergence of esports, competitive gaming tournaments, live streaming platforms, and increased accessibility facilitated by the widespread adoption of smartphones. The integration of blockchain technology into digital rights management within the realm of online gaming offers a decentralized, transparent, and secure framework for managing and safeguarding digital assets such as in-game items, virtual currency, and game licenses. Furthermore, blockchain holds the potential to enhance interoperability and cross-platform compatibility, allowing players to utilize their digital assets seamlessly across different games, platforms, and ecosystems. For instance, data from Uswitch Communications Ltd., a UK-based comparison service and switching website, revealed a notable increase in digital game sales in the UK between 2021 and 2022, reaching 62 million units. Additionally, approximately 40% of the world's population were engaged in online gaming activities in 2023. Consequently, the growing popularity of online gaming is serving as a catalyst for the expansion of the blockchain in the digital rights management market.

Leading enterprises operating within the blockchain in digital rights management market are actively pursuing the adoption of advanced solutions, particularly digital rights management tools, to drive revenue growth. Digital rights management tools leverage blockchain technology to effectively manage and protect digital assets, including media files, documents, or software, by implementing robust access control mechanisms, usage restrictions, and content encryption protocols. For instance, Elastos, a Singapore-based internet operating system powered by blockchain technology, introduced Elacity DRM in January 2024, specifically tailored for Web3 and targeting video content creators. Elacity DRM leverages the Access Economy Protocol (AEP), combining non-fungible token (NFT) technology with decentralized DRM to empower creators to distribute, monetize, and resell their content while retaining control over their digital rights. Built on the Elastos Smart Chain (ESC) and EVM compatible, Elacity DRM ensures the security and authenticity of digital assets within the Web3 era, catering to a diverse spectrum of developers on the Elastos SmartWeb.

In February 2023, ConsenSys, a US-based blockchain software company, finalized the acquisition of HAL, a move aimed at bolstering its core product suite and enhancing systems for a decentralized future. This integration enables developers to construct protocol-level alerts and notifications for various signals, further advancing ConsenSys' mission of expanding its offerings. HAL, a US-based provider of blockchain solutions for digital rights management (DRM), offers products such as HAL Streams and HAL Pipeline, contributing to the evolution of decentralized DRM solutions.

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.

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.

The countries covered in the blockchain in digital rights management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Blockchain in digital rights management (DRM) involves leveraging blockchain technology to effectively manage and safeguard digital content. It aims to regulate access to copyrighted material, uphold the rights of copyright holders, and prevent unauthorized distribution and alteration of digital assets. By implementing blockchain in DRM, a decentralized, transparent, and immutable system is established to monitor the ownership, distribution, and usage of digital assets.

The primary types of blockchain in digital rights management include public blockchain and private blockchain. Public blockchains utilized in DRM offer transparency, efficiency, and accuracy in managing rights metadata and royalty payouts within the digital content industry. These blockchain solutions find applications in various areas such as content protection, security, and royalty tracking and payments. They cater to a diverse range of end-users, including content creators, artists, and media and entertainment companies.

The blockchain in digital rights management market research report is one of a series of new reports that provides blockchain in digital rights management market statistics, including blockchain in digital rights management industry global market size, regional shares, competitors with a blockchain in digital rights management market share, detailed blockchain in digital rights management market segments, market trends and opportunities, and any further data you may need to thrive in the blockchain in digital rights management industry. This blockchain in digital rights management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The blockchain in the digital rights management market includes revenues earned by entities through services such as authentication of digital assets, tracking rights usage, and enabling transparent royalty payments. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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