Information rights management is an IT security technology that safeguards enterprises’ sensitive information from unauthorized access. Information rights management solutions are mainly applicable to documents and emails. These solutions protect information from being copied, printed, and forwarded by unauthorized people. Information rights management solutions and services reduce the risk of information loss and misuse by ensuring the information is available only to the authorized people. 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 2018–2023.
The integrated solutions segment is expected to be faster growing segment during the forecast period.
Among solutions, the integrated solutions segment is expected to have a higher CAGR during the forecast period. Integrated offerings enable 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 current business workflows while also protecting sensitive information.
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The Banking, Financial Services, and Insurance (BFSI) vertical is estimated to have the largest market size in 2018.
Among verticals, the BFSI vertical is estimated to have the largest market share in the information rights management market in 2018, due to the secured and confidential data features this vertical has. As huge sums of money and critical business data are at stake, well-informed decisions must be taken by enterprises in the BFSI vertical. Information rights management solutions help BFSI firms manage and maintain the rights of all the financial information.
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.
Adobe has been very active in establishing its market position as a strong leader in the information rights management market. It offers a wide range of products and services via the Software-as-a-Service (SaaS) model or the managed services model, as well as, through term subscriptions and pay-per-use models. The company distributes certain products and services through a network of distributors, Value-Added Resellers (VARs), systems integrators, Independent Software Vendors (ISVs), retailers, software developers, and Original Equipment Manufacturers (OEMs), in addition to its direct sales force, online website, and app stores. In July 2017, Adobe expanded its presence in San Jose, US, with an office space of 65,000 sq. ft. This move helped add 3,000 additional employees to its employee base. The company has been continuously focusing on adopting innovative strategies to strengthen its market position as a premier information rights management software provider that offers unique, comprehensive sets of capabilities.
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Microsoft is one of the main leaders in the information rights management market. The company has been continuously focusing on product improvements and enhancements. The company also focuses on inorganic growth strategies, such as strategic partnerships and collaborations. These strategies have helped the company cater to new customers. For instance, in September 2017, Microsoft collaborated with Digital Guardian, a data loss prevention solution provider. The companies collaborated to integrate the key components of Azure Information Protection and Digital Guardian Data Loss Prevention (DLP). In June 2016, Microsoft partnered with Box. The partnership integrated the capabilities of Box’s cloud content management with Azure to cater to enterprise customers. Microsoft also focuses on strengthening its R&D efforts for reinventing its business productivity, building intelligent cloud platforms, and creating more personal computing solutions.
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