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.
Global Enterprise Rights Management Solution Market – Dynamics
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.
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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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North America to Dominate the Global Enterprise Rights Management Solution Market
In terms of region, the global enterprise rights management solution market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the enterprise rights management solution market during the forecast period due to strong adoption of the solution by small & medium enterprises within the region.
