Intensifying Compliance Regulation in Banking and Financial Sector to Bolster Uptake of Enterprise-DRM/Information Rights Management Technologies

Published On : 03 Aug 2017 has announced the addition of a new market intelligence report, titled “2017-2022 Enterprise-DRM/Information Rights Management Report on Global and United States Market, Status and Forecast, by Players, Types and Applications.” The comprehensive report on global enterprise- digital rights management (DRM)/information rights management (IRM) market offers in-depth insights into the key drivers and challenges, recent advancement in access control technologies, share and size of key segments, lucrative growth avenues, and competitive landscape. The study presents an elaborate assessment of all such factors and prominent business trends governing the adoption of enterprise-DRM by organizations in various regions during the forecast period of 2017 - 2022. The report covers major regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa, with a focus on the United States. 

The report takes a closer look at major encryption methods offered by vendors to prevent unauthorized access and their demand among key end-use industries such as education, banking, financial services, and insurance (BFSI), law, and healthcare. Furthermore, it highlights the scope of various enterprise-DRM technologies in the area of music/video and software. The study presents an overview of key product offerings such as on-premise and cloud-based and recent enhancements brought about by vendors likely to bolster the uptake.  

The drive for demand for information rights management stems from the need for protecting crucial information, mainly in the form of documents and emails, in a business-to-business model. Rapidly evolving methods to secure the unauthorized distribution of documents and media in enterprise environment is a key factor boosting the evolution of the enterprise-DRM market. Advancements in security keys have enabled the document owners in securing enterprise information even when they are lying idle in hard disk or being distributed across a number of end users. These methods essentially govern the sharing of files among various recipients who are authorized as well as those who are not legally permitted. 

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Intensifying compliance regulations in the banking sector in a number of emerging and developed nations has led several financial institutions to adopt adequate information rights management technologies. They are widely implemented to secure sensitive customers’ information and prevent these from breach or any misuse. This is expected to boost the enterprise-DRM market. In addition, the flexibility enjoyed by information owners in forming access policies, setting expiration parameters, and defining revocation rights as and when required is likely to bolster the uptake among various organizations. The growing focus of IT departments to form effective enterprise-DRM policies so as not to limit their ability in information sharing is further expected to catalyze the market growth. 

The soaring popularity of cloud-based enterprise-DRM technologies is anticipated to accentuate the market in the coming years. This is particularly imperative where crucial data and information are shared in real time and across various locations.  In addition, with the growing usage of mobile devices across enterprises the market is witnessing the advent of advanced content protection mechanism for these devices. This is expected to open up lucrative growth avenues for vendors and developers along the forecast period. 

Key players operating in the enterprise-DRM market are Verisign, Inc., Sony Corporation, Realnetworks, Inc., Oracle Corporation, Microsoft Corporation, Realnetworks, Inc., IBM, EMC Corporation, Adobe Systems Incorporated, and Apple Inc.

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