The Digital Asset Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Digital Asset Management Global Market Report 2024, The digital asset management market size has grown rapidly in recent years. It will grow from $5.72 billion in 2023 to $6.6 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to content creation and distribution needs, brand consistency and identity, regulatory compliance requirements, rise in visual content.
The digital asset management market size is expected to see rapid growth in the next few years. It will grow to $12.29 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to demand for video and rich media management, personalization and dynamic content delivery, focus on user experience (UX) design. Major trends in the forecast period include automated workflow orchestration, facial and object recognition for asset management, real-time analytics and reporting, compliance and governance features, mobile accessibility and collaboration.
The increasing prevalence of cloud-based digital asset management (DAM) solutions is projected to propel the growth of the digital asset management (DAM) market. Cloud-based digital asset management (DAM) is a platform that enables businesses to handle, store, and organize their resources in a cloud-based environment. Any organization that uses resources for packaging, marketing, advertisement, or any other business-related activity would benefit from a cloud DAM. For instance, in December 2021, according to a survey conducted by O’Reilly Media Inc., a US-based learning company, out of 2,834 global respondents, 90% revealed their organizations currently employ cloud-based applications. Looking ahead, 48% plan to shift over half of their apps to the cloud within the next year, with 20% aiming for a complete migration to cloud-based solutions. Therefore, the increasing prevalence of cloud-based digital asset management (DAM) solutions drives the digital asset management (DAM) market growth.
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The digital asset management market covered in this report is segmented –
1) By Type: Solution, Services
2) By Deployment Type: On-Premises, Cloud
3) By Enterprise Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs)
4) By Application: Sales, Marketing, IT, Photography, Graphics and Designing, Other Applications
5) By End User: Media and Entertainment, BFSI, Retail, Healthcare, Automotive and Manufacturing, Other End Users
Major companies operating in the digital asset management are developing innovative technologies such as AI to increase their profitability in the market. An AI-powered digital asset management (DAM) solution refers to a system that utilizes artificial intelligence technologies to efficiently organize, analyze, and optimize digital assets such as images, videos, documents, and other media files. For instance, in September 2023, Cloudinary, a US-based SaaS technology company launched Nexus. Nexus is a no-cost AI-driven digital asset management solution, is crafted for small businesses and teams. Its focus lies in optimizing workflows through AI tools, fostering seamless collaboration, and boosting overall productivity. This platform employs AI for efficient asset organization, utilizing features like auto tagging and asset analysis to automate tasks. The solution provides comprehensive asset management features with automatic keywording and AI capabilities.
The digital asset management market report table of contents includes:
1. Executive Summary
2. Digital Asset Management Market Characteristics
3. Digital Asset Management Market Trends And Strategies
4. Digital Asset Management Market – Macro Economic Scenario
…
32. Global Digital Asset Management Market Competitive Benchmarking
33. Global Digital Asset Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Digital Asset Management Market
35. Digital Asset Management Market Future Outlook and Potential Analysis
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