Overview and Scope
Digital asset management (DAM) is a software-based solution that allows organizations to store, retrieve, and use digital assets quickly. Digital assets are files like videos, music, photos, documents, and other media containing the rights to use them. DAM is an organization’s content sharing and storage solution.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
North America was the largest region in the digital asset management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital asset management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the digital asset management market report are Dell Technologies Inc., IBM Corporation, Oracle Corporation, Cognizant Technology Solutions Corporation, Adobe Inc., OpenText Corporation, Bynder B.V., Sitecore Corporation A/S, Aprimo LLC, Cloudinary Ltd., Censhare AG, CELUM GmbH, WoodWing Software BV, Brandfolder Inc., Wedia SA, Widen Enterprises Inc., MarcomCentral, Canto Inc., Celartem Inc., BrandMaker GmbH, MediaValet Inc., Nuxeo Corporation, Digizuite A/S, Bright Interactive Holdings Ltd., IntelligenceBank Pty. Ltd., North Plains Systems lnc., MediaBeacon Inc., Webdam Inc., QBNK Holding AB, Filecamp ApS, Picturepark AG, Daminion Software, Image Relay Inc., MerlinOne Inc., Pimcore GmbH, Third Light Ltd.
The digital asset management market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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