Information Rights Management Market Revenue Analysis & Region and Country Forecast To 2030
According to the most recent analysis by Emergen Research, the worldwide Information Rights Management (IRM) market size was USD 1.43 billion in 2021 and is anticipated to grow at a revenue CAGR of 15.5% during the projected period. The market’s revenue growth is primarily being driven by the growing use of IRM systems for omnichannel marketing and the rising need from businesses for solutions to save and restore sensitive data in the event of a data breach. IRM software is a group of technologies that enables companies and content owners to keep an eye on, control, and protect the rights of people and organisations against outsiders in order to make sure that users’ private information and browsing history are utilised lawfully across the board.
Information rights management (IRM) is a technology for access control that primarily entails steps like managing, limiting, and protecting content from unauthorised access. It is used to secure web-based approaches and to limit the usage of rented equipment and copyrighted content. It is typically a part of digital rights management (DRM), a technology that guards any multimedia asset and secures sensitive data from illegal access.
When an unauthorised user or outsider gains access to data, information leakage happens, which ultimately leads to the disclosure of sensitive information. Businesses could lose customers, employees, partners, market share, and credibility as a result of this “knowledge leakage,” which has a substantial impact on them. IRM encourages the internal protection of documents, emails, pictures, audio, and video files. It guards against unauthorised users viewing, copying, editing, deleting, forwarding, printing, and screenshotting files.
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Increased need for digital documents in businesses for carrying out mission-critical tasks is another factor driving market revenue development. Users of all businesses have online and offline access to files and documents. Due to PCs and mobile devices, there are serious security risks and concerns.
Some major companies in the global market report include International Business Machines (IBM) Corporation, Oracle, Adobe, Seclore, Microsoft, Nextlabs Inc., Open Text Corporation, Deltek, Inc., Vitrium Systems Inc., Citrix Systems, Inc., and AMTIVO Group Ltd.
Some Key Highlights From the Report
- In 2021, the solutions segment had the biggest revenue share. IRM is a technology that controls how both structured and unstructured data are accessed and used. Online theft is on the rise as a result of cloud computing, rising mobile device usage, and expanding internet accessibility. This has raised demand for advanced IRM solutions, which is propelling this segment’s revenue development.
- In 2021, the BFSI sector had the greatest revenue share. The BFSI industry is especially vulnerable to data loss because it handles sensitive information. Due to a cyberattack in 2019, First American Financial Corp. had 885 million online records, including social security numbers, bank transactions, and other private data, exposed. The need for IRM solutions in the banking and insurance sectors has grown as a result.
- Due to increased innovation in IRM solutions and the presence of major market participants in the region, including Oracle, IBM, and others, the North American market accounted for the greatest revenue share in 2021. Growing worries about data breaches and increased awareness of information loss and theft are elements influencing the market’s revenue growth in the area.
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Emergen Research has segmented the global information rights management market based on component, deployment, organization size, verticals, and region:
- Component Outlook (Revenue, USD Billion; 2019–2030)
- Implementation & Integration
- Training & Support
- Deployment Outlook (Revenue, USD Billion; 2019–2030)
- Organization Size Outlook (Revenue, USD Billion; 2019–2030)
- Large Enterprises
- Small and Medium-Sized Enterprises (SMEs)
- Verticals Outlook (Revenue, USD Billion; 2019–2030)
- IT & Telecom
- Education & Training
- Energy & Utilities
- Media & Entertainment
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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