The information rights management market is segmented on the basis of components (solutions and services), deployment types, organization size, verticals, and regions. MarketsandMarkets forecasts the Information Rights Management Market to grow from USD 913.5 million in 2018 to USD 1,885.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period. The increasing concerns about information loss and theft, the upward trends of Bring-Your-Own-device (BYOD) and enterprise mobility, and stringent regulations and compliances are the major factors that are expected to drive the growth of the information rights management market.
The global information rights management market has experienced rapid growth in the past few decades. With technological advancements and digital revolution across different verticals, digital information content is also increasing gradually. Enterprises are now shifting to the digital mode to increase their productivity and reliability. Large volumes of digital information are generated every hour across verticals, and this information is a valuable digital asset for enterprises. Information rights management solutions provide security to the information content of organizations. These solutions simplify the needs of enterprises and assure the efficient management of crucial information. These solutions also help enterprises store, access, manage, and share their information effectively.
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Among services, the consulting services segment is expected to register the fastest growth rate during the forecast period. These services provide organizations expert advice on improving the usage of the deployed solutions to fulfill their business requirements. Consultants provide architecture guidance and assistance to organizations, thereby maximizing their benefits. These benefits have encouraged organizations across diverse verticals to adopt consulting services.
Among solutions, the integrated solutions segment is expected to have a higher CAGR during the forecast period. The combination of systems, such as Enterprise File Sharing and Synchronization (EFSS), Data Loss Prevention (DLP), and Enterprise Content Management (ECM), with information rights management capabilities enables enterprises to enjoy the facilities of information rights management as well as other systems. These additional facilities may include manual rights application, consistent policies application, and maintaining the current business workflows while also protecting sensitive information.
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period in the global information rights management market. With diversified geographic areas and a high customer base, the APAC region is expected to exhibit strong growth in the information rights management market. The growth in this region is also enhanced by the rising concerns about information loss and thefts, and the growing BYOD and enterprise mobility trends among organizations.
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The key players in the information rights management market include Adobe (US), Microsoft (US), Oracle (US), Seclore (US), Vaultize (US), NextLabs (US), OpenText (Canada), Vitrium (Canada), Citrix (US), Copyright Clearance Center (US), Intralinks (US), Locklizard (UK), Sealpath (Spain), TransPerfect (US), Vera Security (US), Covertix (Israel), FinalCode (US), Fasoo (US), FileOpen (US), GigaTrust (US), InfoSaaS (England), Network Intelligence (India), Skyhigh (US), Traxion (Netherlands), and Trunomi (US). These players have adopted various strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product launches, to achieve growth in the global information rights management market.
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