Digital asset management (DAM) is a content management system (CMS) that helps store and manage all kinds of digital files produced by enterprise marketing & creative teams. DAM software helps accommodate a broad spectrum of creative files that allows an organization to control & centralize the management of digital content or data that is accessed or shared by staff members or other users. The digital asset management market Incorporates end-user industries’ expenditure on digital asset management solutions and services to store, organize, access, and share their rich media content. The service segment Includes end user expenditure on consulting, implementation, and training & support. Some of the popular digital asset management solutions are asset analytics, asset & metadata archiving, brand portals, creative tool integration, lifecycle & rights management, video management, and web content management integration.
Furthermore, DAM systems can be used by a variety of organizations, from small businesses to large enterprises, and can be customized to meet the specific needs of different industries, Including marketing, media and entertainment, education, government, and others.
Increase in adoption of digital asset management across enterprises, thus drive the growth of the market. In addition, the Increase in adoption of cloud-based DAM solutions drives the growth of the growth of the market during the forecast period. In addition, growth in the need to meet the government’s compliance is anticipated to accelerate the market growth. However, security & privacy concerns among enterprises, high cost of innovation, and budget constraints hamper the growth of the market. In addition, need for ongoing maintenance and updating of the DAM system and challenges associated with managing and storing large volumes of digital assets are expected to hamper the growth of the market. Furthermore, Increasing importance of digital assets for businesses of all sizes provides opportunities for DAM vendors to expand their customer base. Furthermore, the emergence of new business models, such as subscription-based pricing, make DAM more accessible to smaller organizations. Additionally, expansion of DAM solutions into new sectors, such as healthcare and education and development of new technologies, Including virtual and augmented reality (AR), require efficient management of digital assets. Such factors are expected to provide lucrative growth opportunities for the market during the forecast period. Moreover, the Increase in adoption of cloud-based DAM solutions, growth in e-commerce and digital marketing, and rise in demand for video content also propel the growth of the market.
The digital asset management market is segmented into offering, business function, deployment mode and region. By offering, it is bifurcated into solution and services. By deployment mode, it is divided into on-premises and cloud. By business function, the market is segregated into human resources (HR), sales & marketing, information technology (IT), and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the digital asset management market are Aprimo, Adobe Inc., Cognizant Technology Solutions Corporation, Dell EMC, Hewlett Packard Enterprise (HPE), IBM Corporation, Oracle Corporation, OpenText Corporation, North Plains Systems, Widen Enterprises Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help drive the growth of the digital asset management market globally.
Furthermore, DAM systems can be used by a variety of organizations, from small businesses to large enterprises, and can be customized to meet the specific needs of different industries, Including marketing, media and entertainment, education, government, and others.
Increase in adoption of digital asset management across enterprises, thus drive the growth of the market. In addition, the Increase in adoption of cloud-based DAM solutions drives the growth of the growth of the market during the forecast period. In addition, growth in the need to meet the government’s compliance is anticipated to accelerate the market growth. However, security & privacy concerns among enterprises, high cost of innovation, and budget constraints hamper the growth of the market. In addition, need for ongoing maintenance and updating of the DAM system and challenges associated with managing and storing large volumes of digital assets are expected to hamper the growth of the market. Furthermore, Increasing importance of digital assets for businesses of all sizes provides opportunities for DAM vendors to expand their customer base. Furthermore, the emergence of new business models, such as subscription-based pricing, make DAM more accessible to smaller organizations. Additionally, expansion of DAM solutions into new sectors, such as healthcare and education and development of new technologies, Including virtual and augmented reality (AR), require efficient management of digital assets. Such factors are expected to provide lucrative growth opportunities for the market during the forecast period. Moreover, the Increase in adoption of cloud-based DAM solutions, growth in e-commerce and digital marketing, and rise in demand for video content also propel the growth of the market.
The digital asset management market is segmented into offering, business function, deployment mode and region. By offering, it is bifurcated into solution and services. By deployment mode, it is divided into on-premises and cloud. By business function, the market is segregated into human resources (HR), sales & marketing, information technology (IT), and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the digital asset management market are Aprimo, Adobe Inc., Cognizant Technology Solutions Corporation, Dell EMC, Hewlett Packard Enterprise (HPE), IBM Corporation, Oracle Corporation, OpenText Corporation, North Plains Systems, Widen Enterprises Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help drive the growth of the digital asset management market globally.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the digital asset management market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on digital asset management market trends is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the digital asset management market from 2022 to 2032 is provided to determine the market potential.
Key Market Segments
By Offering
- Solution
- Services
By Deployment Mode
- On Premises
- Cloud
By Business Function
- Human Resources (HR)
- Sales and Marketing
- Information Technology (IT)
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Oracle Corporation
- Adobe Inc.
- IBM CORPORATION
- Open Text Corporation.
- Aprimo
- Hewlett Packard Enterprise (HPE)
- Dell EMC
- Widen Enterprises Inc.
- North Plains Systems (Ignite Enterprise Software Solutions, Inc.)
- Cognizant Technology Solutions Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DIGITAL ASSET MANAGEMENT MARKET, BY OFFERING
CHAPTER 5: DIGITAL ASSET MANAGEMENT MARKET, BY DEPLOYMENT MODE
CHAPTER 6: DIGITAL ASSET MANAGEMENT MARKET, BY BUSINESS FUNCTION
CHAPTER 7: DIGITAL ASSET MANAGEMENT MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Digital Asset Management Market,' The digital asset management market was valued at $4.9 billion in 2022, and is estimated to reach $20.6 billion by 2032, growing at a CAGR of 15.8% from 2023 to 2032.The Digital Asset Management Market is likely to experience a significant growth rate of 15.8% from 2023-2032, owing to increasing market demand from Information Technology (IT) sector.
Digital asset management refers to the overall strategy and framework implemented by an organization to maximize the value and impact of its digital assets. It encompasses a range of activities, including asset creation, acquisition, organization, storage, preservation, retrieval, and distribution. This definition emphasizes the strategic aspect of DAM, highlighting its role in enhancing brand consistency, increasing operational efficiency, and facilitating content reuse across different channels and platforms. In addition, DAM systems offer robust security features to protect valuable digital assets. Access controls and permissions can be set to restrict asset visibility and editing rights to authorized individuals or groups. DAM platforms also provide secure backups and disaster recovery mechanisms, safeguarding assets from loss or damage.
Furthermore, DAM systems provide a centralized repository where digital assets are organized and categorized using metadata. This enables quick and efficient search and retrieval, saving time and effort in locating assets. Users can easily browse through collections, apply filters, and access the right assets when needed, fostering productivity and collaboration. It ensures that approved and up-to-date digital assets, such as logos, brand guidelines, and marketing materials, are easily accessible to all teams. This promotes brand consistency across various channels and helps maintain a unified brand identity. DAM systems often include tools for managing usage rights, ensuring that assets are used appropriately and in compliance with licensing agreements. DAM platforms streamline asset management processes through automated workflows. Tasks such as file conversion, resizing, and distribution can be automated, saving time and reducing errors. Workflow automation also facilitates collaboration by enabling teams to work concurrently on projects, track changes, and manage approval processes, leading to faster turnaround times. DAM eliminates redundant asset creation by enabling easy identification and reuse of existing content. This reduces the need to recreate assets, saving both time and resources. Additionally, DAM helps prevent costly errors, such as using outdated or incorrect assets, by providing version control and ensuring that the latest approved versions are readily available.
Factors such as the increase in adoption of digital asset management across enterprises, thus drive the growth of the market. In addition, the increase in adoption of cloud-based DAM solutions drives the growth of the growth of the market during the forecast period. However, security & privacy concerns among enterprises, high cost of innovation, and budget constraints hamper the growth of the market. Furthermore, increasing importance of digital assets for businesses of all sizes provides opportunities for DAM vendors to expand their customer base.
The digital asset management market is segmented into offering, business function, deployment mode and region. By offering, it is bifurcated into solution and services. By deployment mode, it is divided into on-premises and cloud. By business function, the market is segregated into human resources (HR), sales & marketing, information technology (IT), and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the digital asset management market are Aprimo, Adobe Inc., Cognizant Technology Solutions Corporation, Dell EMC, Hewlett Packard Enterprise (HPE), IBM Corporation, Oracle Corporation, OpenText Corporation, North Plains Systems, Widen Enterprises Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help drive the growth of the digital asset management market globally. For instance, in May 2023, Aprimo partnered with SecureCHEK AI, to create a market-first solution that is set to optimize the entire content lifecycle for the highly regulated pharmaceutical industry. By combining Aprimo’s content operations platform with SecureCHEK AI’s AI-powered marketing solutions for regulated industries, pharmaceutical companies can now create, manage and deliver compliant content faster and more efficiently. In addition, in August 2021, Shutterstock, Inc. with OpenText. The integration will offer Shutterstock Enterprise and OpenText customers direct access to 380M+ high-quality Shutterstock images via OpenText Media Management. Such enhancements are expected to provide the lucrative opportunities for the market growth during the forecast period.
Key Market Insights
- By offering, the solution segment was the highest revenue contributor to the market in 2022, and is estimated to reach $12,380.60 million by 2032, with a CAGR of 14.7%. However, the services segment is estimated to be the fastest growing segment with the CAGR of 17.8% during the forecast period.
- By deployment mode, the on-premise segment dominated the global market share in 2022, and is estimated to reach $9,873.31 million by 2032, with a CAGR of 13.6%, However, the cloud segment is expected to be the fastest growing segment with the CAGR of 18.4% during the forecast period.
- Region wise, North America was the highest revenue contributor, accounting for $1,924.16 million in 2022, and is estimated to reach $6,555.21 million by 2032, with a CAGR of 13.3%.
Companies Mentioned
- Oracle Corporation
- Adobe Inc.
- IBM CORPORATION
- Open Text Corporation.
- Aprimo
- Hewlett Packard Enterprise (HPE)
- Dell EMC
- Widen Enterprises Inc.
- North Plains Systems (Ignite Enterprise Software Solutions, Inc.)
- Cognizant Technology Solutions Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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