Yahoo Finance Digital Asset Management Market is projected to reach USD 8.15 Billion by 2030, growing at a CAGR of 18%: Straits Research
The digital asset management market size was valued at USD 3,497 million in 2021. It is estimated to reach USD 8,159 million by 2030, registering a CAGR of 18% during the forecast period (2022-2030). The adoption of the Digital Asset Management (DAM) market is growing in the United States mainly due to the investments in innovation activities, cloud adoption, IoT devices growth, and others.
New York, United States, June 29, 2022 (GLOBE NEWSWIRE) -- With the introduction of cloud storage, businesses are becoming more accustomed to the concept of having access to all content from any location. This is not only beneficial, but it also complicates content storage. DAM solutions are becoming increasingly important as organizations increase their investment in developing digital material. Digital Asset Management (DAM) systems are also proven to save businesses time and money. Furthermore, DAM systems aid in security by giving enterprises significantly greater management over file access and identity authentication. A security breach can be harmful to a company's reputation, leading to client loss due to a lack of security and confidence. To prevent this issue, the use of DAMs is becoming extremely relevant.
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Increase in the Number of Digital Assets to Drive the Digital Asset Management (DAM) Market
Digital content has grown significantly in recent years as a result of the increasing automation and linked devices scenario. As per a study done by Adobe in February 2021 of 13,000 companies and agency experts for selling, advertising, e-commerce, innovative, and IT professionals worldwide, a firm with high consumer experience is best placed to adapt to changing customer behaviour and markets and is more likely to accomplish long-term growth than its competing companies.
According to the Adobe Digital Trends Report, earlier efforts in consumer experience will have paid off by 2021, emphasizing the importance of speed and personalization.
The study also discovered that organizations with strong insights processes were more than twice as likely as their rivals with weaker levels of insight to report their customers to feel positive about their digital experience, with 71 percent versus 31 percent, respectively. Similarly, similar trends are increasing the scale of information and digital assets made to keep clients engaged. As a result, firms are increasingly embracing digital strategies, resulting in an increase in digital assets for them.
Technological Advancements to Provide Opportunities for the Digital Asset Management (DAM) Market
Digital asset management is becoming a significant component of marketing technology for executing marketing campaigns. In addition, machine learning and artificial intelligence (AI), including picture and facial recognition, are transforming the DAM sector. The integration of various technologies, such as Bluetooth, RFID, Wi-Fi, and Zigbee, with IoT in several devices, is expected to provide the market players with many growth opportunities, thereby allowing them to make significant product developments and innovations to capture a considerable share of the market.
The market is further witnessing several product innovations around the globe. For instance, in April 2021, Marcom Central, an operator in the brand management arena, announced the launch of Marcom Gather, a digital asset management (DAM) solution. Marcom Gather is user-friendly digital asset management (DAM) solution that provides brands with a modern and practical approach to centralizing, organizing, and sharing digital assets across the organization.
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Impact of COVID-19
Multiple market vendors have embraced the pandemic circumstance to provide their solutions to healthcare sector users in an effort to grow their position in the marketplace. For example, Medialogix began working with the Royal Preston Hospital in October 2020 to eliminate patient contact while still delivering media visuals across all departments. The company's goal is to be the industry leader in DAM solutions for law enforcement and healthcare.
During the pandemic in 2020, the closure of businesses caused by the lockdown caused a large downturn in the market; however, digital consuming businesses are turning to digital-first strategies, which is likely to boost demand for DAM solutions.
Regional Insights
By region, the digital asset management market is segmented into North America, Asia-Pacific, Europe, Rest of the world. North America accounted for the largest market, and Asia-Pacific is expected to grow at a faster rate over the forecast period. The North America DAM market was valued at USD 1,332 million in 2021, and it is expected to reach USD 5472 million by 2030, registering a CAGR of 17% during the forecast period. The digital asset management (DAM) market is expanding in the United States, owing to financial assets in innovation processes, cloud adoption, IoT device expansion, and other factors. Furthermore, there has been a rise in the use of digital asset management solutions that incorporate technology such as Artificial Intelligence and Machine Learning. AI and machine learning in platforms aid in metadata tagging, which is critical in organizing, discovering, sharing, and evaluating digital content.
The Asia-Pacific market was valued at USD 677 million in 2021, and it is expected to reach USD 3764 million by 2030, registering a CAGR of 21% during the forecast period. As technology-savvy high-net-worth individuals want clarity, speed, and cheaper costs for their estates, digital asset management systems are gaining traction in Asia. China is the largest market in Asia-Pacific. 'New Infrastructure,' which includes 5G, AI, IoT, and cloud computing, is one of the important investment areas for stabilizing development. IT services and apps are likely to get significant investment, and because DAM is a SaaS in this industry, it is expected to grow rapidly in the future.
Key Highlights
The digital asset management market was valued at USD 3,497 million in 2021, and it is expected to reach USD 8,159 million by 2030, registering a CAGR of 18% during the forecast period (2022-2030).
By deployment, the digital asset management market is segmented into on-premise, and cloud (SaaS). Cloud accounted for the largest market share and is expected to remain the dominant segment of the market, and was valued at USD 2238 million in 2021, and it is expected to reach USD 11,290 million by 2030, registering a CAGR of 20% during the forecast period
By organization size the digital asset management market is segmented into SMEs (Small and Medium Enterprises) and large enterprises. Large enterprises dominated the market and was valued at USD 1872 million in 2021, and it is expected to reach USD 7750 million by 2030, registering a CAGR of 17% during the forecast period.
By end-user, the digital asset management market is segmented into media and entertainment, BFSI, government, healthcare, retail, manufacturing, other end-users. The media and entertainment segment accounted for the largest market share, and healthcare segment shows fastest growth during the forecast period. The media and entertainment was valued at USD 810 million in 2021, and it is expected to reach USD 3327 million by 2030, registering a CAGR of 17% during the forecast period.
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Competitive Landscape
List of Top Digital Asset Management Market Companies
Adobe Systems Incorporated
Canto Inc
CELUM GmbH
Cognizant Technology Solutions Corp
Oracle Corporation (Oracle WebCenter Content)
Cloudinary Ltd
OpenText Corporation
Aprimo LLC
Bynder(Webdam Inc.)
The Global Digital Asset Management (DAM) Market: Segmentation
By Deployment
On-premise
Cloud (SaaS)
By Organization Size
SMEs (Small and Medium Enterprises)
Large Enterprises
By End-User
Media and Entertainment
BFSI
Government
Healthcare
Retail
Manufacturing
Other End Users
By Region
North America
Europe
Asia-Pacific
Rest of the World
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Market Overview
3.1 Report Segmentation & Scope
3.2 Value Chain Analysis: Digital Asset Management Market
3.3 Key Market Trends
3.3.1 Drivers
3.3.2 Restraints
3.3.3 Opportunities
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of Substitutes
3.4.4 Threat of New Entrants
3.4.5 Competitive Rivalry
3.5 Market Share Analysis
4 Type Overview
4.1 Introduction
4.1.1 Market Size & Forecast
4.2 Brand Asset Management Systems
4.2.1 Market Size & Forecast
4.3 Library Asset Management System
4.3.1 Market Size & Forecast
4.4 Production Asset Management System
4.4.1 Market Size & Forecast
5 Deployment Overview
5.1 Introduction
5.1.1 Market Size & Forecast
5.2 Cloud
5.2.1 Market Size & Forecast
5.3 On-premise
5.3.1 Market Size & Forecast
6 End User Overview
6.1 Introduction
6.1.1 Market Size & Forecast
6.2 Healthcare
6.2.1 Market Size & Forecast
6.3 Retail
6.3.1 Market Size & Forecast
6.4 Automotive
6.4.1 Market Size & Forecast
6.5 BFSI
6.5.1 Market Size & Forecast
6.6 Manufacturing
6.6.1 Market Size & Forecast
6.7 Others
6.7.1 Market Size & Forecast
7 Regional Overview
7.1 Introduction
7.1.1 Market Size & Forecast
7.2 North America
7.2.1 Market Size & Forecast
7.2.2 U.S.
7.2.2.1 By Type
7.2.2.2 By Deployment
7.2.2.3 By End User
7.2.3 Canada
7.2.3.1 By Type
7.2.3.2 By Deployment
7.2.3.3 By End User
7.2.4 Mexico
7.2.4.1 By Type
7.2.4.2 By Deployment
7.2.4.3 By End User
7.3 Europe
7.3.1 Market Size & Forecast
7.3.2 Germany
7.3.2.1 By Type
7.3.2.2 By Deployment
7.3.2.3 By End User
7.3.3 France
7.3.3.1 By Type
7.3.3.2 By Deployment
7.3.3.3 By End User
7.3.4 U.K.
7.3.4.1 By Type
7.3.4.2 By Deployment
7.3.4.3 By End User
7.3.5 Italy
7.3.5.1 By Type
7.3.5.2 By Deployment
7.3.5.3 By End User
7.3.6 Spain
7.3.6.1 By Type
7.3.6.2 By Deployment
7.3.6.3 By End User
7.3.7 Rest of Europe
7.3.7.1 By Type
7.3.7.2 By Deployment
7.3.7.3 By End User
7.4 Asia Pacific
7.4.1 Market Size & Forecast
7.4.2 Japan
7.4.2.1 By Type
7.4.2.1 By Deployment
7.4.2.3 By End User
7.4.3 China
7.4.3.1 By Type
7.4.3.2 By Deployment
7.4.3.3 By End User
7.4.4 Australia
7.4.4.1 By Type
7.4.4.2 By Deployment
7.4.4.3 By End User
7.4.5 India
7.4.5.1 By Type
7.4.5.2 By Deployment
7.4.5.3 By End User
7.4.6 South Korea
7.4.6.1 By Type
7.4.6.2 By Deployment
7.4.6.3 By End User
7.4.7 Rest of Asia-Pacific
7.4.7.1 By Type
7.4.7.2 By Deployment
7.4.7.3 By End User
7.5 SOUTH AMERICA
7.5.1 Market Size & Forecast
7.5.2 Argentina
7.5.2.1 By Type
7.5.2.2 By Deployment
7.5.2.3 By End User
7.5.3 Chile
7.5.3.1 By Type
7.5.3.2 By Deployment
7.5.2.3 By End User
7.5.4 Brazil
7.5.4.1 By Type
7.5.4.2 By Deployment
7.5.2.3 By End User
7.5.5 Rest of SOUTH AMERICA
7.5.5.1 By Type
7.5.5.2 By Deployment
7.5.2.3 By End User
7.6 Middle East & Africa
7.6.1 Market Size & Forecast
7.6.2 UAE
7.6.2.1 By Type
7.6.2.2 By Deployment
7.6.2.3 By End User
7.6.3 Saudi Arabia
7.6.3.1 By Type
7.6.3.2 By Deployment
7.6.2.3 By End User
7.6.4 South Africa
7.6.4.1 By Type
7.6.4.2 By Deployment
7.6.4.3 By End User
7.6.5 Rest of Middle East & Africa
7.6.5.1 By Type
7.6.5.2 By Deployment
7.6.5.3 By End User
8 Company Profile
8.1 Adobe Systems Incorporated
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Recent Developments
8.1.4 Product Portfolio
8.2 OpenText Corporation
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Recent Developments
8.2.4 Product Portfolio
8.3 Oracle
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.3.4 Product Portfolio
8.4 Dell Technologies
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Recent Developments
8.4.4 Product Portfolio
8.5 Bynder
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Recent Developments
8.5.4 Product Portfolio
8.6 MediaBeacon, Inc.
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Recent Developments
8.6.4 Product Portfolio
8.7 Cognizant
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Recent Developments
8.7.4 Product Portfolio
8.8 CELUM
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Recent Developments
8.8.4 Product Portfolio
8.9 Canto, Inc.
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Recent Developments
8.9.4 Product Portfolio
Read the full Report Description with Table of Content and Figure @ https://straitsresearch.com/report/digital-asset-management-market/toc
Market News
In March 2021, JSR Equity, a growth equity firm, focused on investing in software companies, made a strategic growth investment in Canto, a digital asset management (DAM) software provider. Canto will utilize this additional investment to expand its customer-facing teams, broaden and accelerate its product development initiatives, and drive growth across its target markets.
In February 2021, FADEL and Esko announced a partnership and the integration of FADEL’s cloud-based digital rights management (DRM) software, rights cloud, and MediaBeacon digital asset management (DAM) solution.
In May 2021, Digizuite formed a strategic collaboration with Comma Group, a data management consultancy organization based in the United Kingdom. As a result, this partnership is a significant step forward for both companies to provide innovative, data-driven digital asset management solutions to businesses worldwide, with a particular focus on the European market.
In February 2021, Widen and Shutterstock Inc. launched an integration that automatically syncs assets between their platforms. Content professionals can now curate assets from Shutterstock and sync them with Widen Collective, along with the metadata, licensing information, and usage rights.
News Media
World’s Largest Technology Companies
Top Technology Trends to Watch Out For in 2020
COVID-19 is Likely to Make Significant Impact in the Adoption of IoT Integration
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