Global Enterprise Rights Management Solution Market: Introduction
Enterprise rights management solutions enable monitoring and controlling of usage of information, ensuring an organization’s intellectual property is used appropriately by employees. The solution also enables organizations to control what documents users have access to, how they can be used, how long they can be used, and the locations where they can be accessed from.
Rising Number of Intellectual Properties across the Globe
The number of intellectual properties is increasing exponentially (especially in semiconductor and automotive industry). Consequently, the need to maintain and secure the data of related intellectual properties is increasing globally. Enterprise rights management solution is one of the most advanced solutions which secures, monitors, and controls the documents within an enterprise. This also reduces the risk of data theft by employees as well as improves the internal security of the organization.
Increasing Rate of Data Breach and Cyber Attacks
The number of data breaches across the globe is increasing. This puts the intellectual property of a company at very high risk. The cost of recovering the data to compensate the loss due to data breach is very high. For instance, a recent ServiceNow survey (conducted by Ponemon) states that:
- Of the 3,000 companies surveyed, almost half admitted that their organization suffered a data breach in the last two years.
- Of those who suffered data breach, 34% knew they were vulnerable but did nothing
Thus, the rising number of data breach activities is expected to drive the growth of the market.
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COVID-19 Impact on the Global Enterprise Rights Management Solution Market
The COVID-19 pandemic is expected to moderately impact the global enterprise rights management solution market for a short-term period. The economic depression due to lockdown and shut down of enterprises across the globe has led to low investment in new technology as this increases the additional fixed cost of companies. The companies in this time period are highly skeptical of new investment.
Global Enterprise Rights Management Solution Market – Competition Landscape
- In October 2019, Clearswift and Seclore signed a partnership to bring next-generation email encryption solutions to enterprises. The partnership will combine the best-of-breed email security, encryption, and rights management for enterprises.
Incorporated in 2004, Locklizard is specialized in IT security, DRM (digital rights management), data security, document encryption, PKI, and copy protection industries, securing information on personal computers and messaging systems. The company is a premier DRM supplier for publishers, enterprises, and governments, meeting and exceeding requirements for finance, auditing, semiconductor, training, publishing, and analyst communities.
Global Enterprise Rights Management Solution Market: Segmentation
The global enterprise rights management solution market can be segmented based on:
- Enterprise Size
Global Enterprise Rights Management Solution Market, by Enterprise Size
Based on enterprise size, the global enterprise rights management solution market can be divided into:
- Small & Medium Enterprise
- Large Enterprise