Digital Asset Management (DAM) MarketThe global digital asset management market is expected to grow from USD 1.28 billion in 2017 to USD 5.21 billion in 2022 at a CAGR of 26.36% during the period 2017 to 2022.
With digital data, mobile services, and internet usage on the rise, digital asset management (DAM) technology has become a fast emerging market today. DAM enables an industry that deals with rich media content to create, manage, manipulate, archive, and re-purpose media assets through diverse mediums to realize new revenue options reduce costs and maximize the operational efficiency.
Increased regulatory standards have enforced high transparency levels, reduced cost of maintenance of information systems, and adoption of digital workflow to reduce the risks of data loss. One of the primary drivers for the industry is the increased adoption of videos and broadband, which in turn is increasing the demand for specialized solutions for each industry. The DAM market encourages a quick deployment, easy-to-use, centralized repository of data for a controlled access of digital data in the form of images, photos, videos, audios, presentations, etc.
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The purpose of introducing DAM services into an industry is to reduce costs by saving on maintenance of physical repositories and saving costs of delivery, optimizing workflow by accelerating cycle time, streamlining workflow, and generating new revenue by repurposing of resources and content for multiple channels and finally optimizing customer experiences through use of these digital assets.
Adoption of enterprise content management (ECM), Saas-based solutions, better interactive capabilities, and more mobility in handling digital data are some of the areas of opportunity in the DAM market. Some of the critical challenges the industry has to face are accommodating changes and adapting to the dynamic ecology of data, maintaining consistency of metadata, handling taxonomical issues, achieving interoperability, and integrating with mainstream information technology.
The market has been segmented on the basis of target (digital photographs, animations, videos, music), type (brand asset management systems, library asset management systems, production asset management systems and cloud-based asset management systems), application type (open source and proprietary), deployment (cloud-based asset management system and on-premise asset management system), solution (video management, creative tool integration, asset analytics, web content integration, brand portals, asset and metadata archiving and lifecycle & rights management), end-user, and geographical area.
The technology is widely applicable to the creative industry, BFSI, electronics industry, healthcare, retail and wholesale sector, e-commerce sector, FMCG, automotive industry, marketing industry, etc. North America, more specifically, the US and Canada, are actively indulging in the sector, with Asia-Pacific exhibiting maximum growth in the domain.
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The key active players in the domain are:
- Adobe Systems
- Adam Software
- Canto, Inc.
- Hewlett-Packard (HP)
- IBM Corporation
- Oracle Technologies
What the Report Offers
- Market definition along with identification of key drivers and restraints for the market
- Market analysis for the digital asset management market, with region-specific assessment and competition analysis on a global and regional scale
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence the market on a global and regional scale
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share
- Identification and analysis of the macro and micro factors that affect the digital asset management market on both global and regional scale
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
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