The Media 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 Media Asset Management Global Market Report 2024, The media asset management market size has grown exponentially in recent years. It will grow from $5.11 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 20.7%. The growth in the historic period can be attributed to increased use of multimedia in marketing, globalization of media production, increased video content production, media rights and licensing complexity, need for archive and preservation, efficiency in newsroom operations, demand for cross-platform content delivery, enhanced metadata and tagging.
The media asset management market size is expected to see exponential growth in the next few years. It will grow to $13.22 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%. The growth in the forecast period can be attributed to advanced search and discovery capabilities, hybrid work environments in media production, personalization in content delivery, integration with project management tools, focus on sustainability in media production, international content distribution challenges, social media integration and distribution.. Major trends in the forecast period include cloud-based mam solutions, remote work collaboration tools, automated workflows, mobile accessibility, subscription-based pricing models, integration with editing software, media analytics for performance insights
The growing digital advertising is driving the growth of the media asset management market. Digital advertising is the marketing that takes place on websites, streaming media, and other online platforms in text, image, audio, and video formats, which helps businesses with the marketing funnel, brand awareness, consumer engagement, and other business operations. Media asset management in digital advertising helps broadcast media archive, store video assets, and distribution large volumes of multimedia content. Additionally, media asset management provides digital advertising agencies with content security, sharing media files quickly and easily, creating metadata, and enabling asset retrieval. For instance, according to MAGNA, a US-based media investment and intelligence company’s, forecast for the ad marketplace in 2021, advertising revenue for media owners increased by +22% globally 2021 to an all-new high of $710 billion. Sales of digital advertising grew by $105 billion (+31%) to reach $442 billion, accounting for 62% of all advertising revenue globally. Therefore, such a rise in digital advertising will increase demand for media asset management
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The media asset management market covered in this report is segmented –
1) By Deployment: On-Premise, Cloud (SaaS)
2) By Organization Size: SMEs (Small And Medium Enterprises), Large Enterprises
3) By End-User: Media And Entertainment, BFSI, Government, Healthcare, Retail, Manufacturing, Other End-Users
Technological advancement is the key trend that is gaining popularity in the media asset management market. Major companies operating in the market are focused on research and development for product innovations such integration of artificial intelligence. For instance, in May 2022, Arvato Systems, a Germany-based IT service management company introduced VidiNet, the cloud-based media services platform with integration of AI software that allows users to recognize information in digital files and create their own AI models. Additionally, integrating VidiNet cognitive services in organizations will allow the creation and quality assurance of training data within a familiar media asset management environment and ensures maximum cost transparency using volume-based payment.
The media asset management market report table of contents includes:
1. Executive Summary
2. Media Asset Management Market Characteristics
3. Media Asset Management Market Trends And Strategies
4. Media Asset Management Market – Macro Economic Scenario
5. Global Media Asset Management Market Size and Growth
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26. South America Media Asset Management Market
27. Brazil Media Asset Management Market
28. Middle East Media Asset Management Market
29. Africa Media Asset Management Market
30. Media Asset Management Market Competitive Landscape And Company Profiles\
Top Major Players:
- Amazon.com Inc
- Dalet SA
- Imagen Ltd
- Prime Focus Technologies Ltd
- Sony Group Corporation
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