According to the recent report by IMARC Group, titled “Digital Asset Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global digital asset management market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global digital asset management market reached a value of US$ 4.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.4 Billion by 2027, exhibiting at a CAGR of 19.2% during 2022-2027. Digital asset management (DAM) represents a software-based solution that is used by organizations for storing, organizing, sharing, and retrieving digital assets at a centralized location. These assets generally include engineering blueprints, processed data files, text documents, web pages, audios, videos, graphics, etc. Furthermore, DAM solutions lead to an enhancement of team creativity by automating workflow, quick retrieval of media files and backup, permission management, etc., via copyright functionalities and streamline cloud experience. Consequently, they find wide-ranging applications across several industries, such as banking, financial services and insurance (BFSI), retail, manufacturing, information technology (IT), etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Digital Asset Management Market Trends:
The rising adoption of DAM software can be accredited to its numerous benefits like real-time access to digital content across different departments, risk reduction of organizational data and asset misuse, and less operational costs. Apart from this, the emerging trend of digital marketing has increased overall online data, thereby creating opportunities for DAM software integration. The proliferation of social media platforms is also contributing to the market growth. Furthermore, global lockdowns due to the outbreak of coronavirus disease (COVID-19) compelled most organizations to digitize their work in order to hold their market position. This has led to a rise in the integration of DAM software in different organizations as it maintains the workflow and has a high return on investments (ROI). Additionally, the emergence of the latest technologies, such as artificial intelligence (AI) and face recognition services, is expected to create a positive outlook for the market.
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The widespread adoption of cloud-based services is primarily driving the digital asset management market. In addition to this, the escalating demand for workflow collaboration and automation is augmenting the utilization of DAM solutions to maintain transparency of operations, improve digital content, reduce overall operational costs, etc., which is further catalyzing the market growth. Moreover, digital asset management software offers numerous benefits, such as real-time access to digital content across different departments, risk reduction of organizational data and asset misuse, user-friendly interface, etc. This, in turn, is stimulating the global market. Additionally, the emerging trend of digitization is acting as another significant growth-inducing factor. Besides this, the introduction of various technological advancements, including artificial intelligence (AI), face recognition services, Internet of Things (IoT), etc., that offer improved access, higher scalability, and operational speed is anticipated to fuel the digital asset management market over the forecasted period.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global digital asset management market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, component, application, deployment, organization size, and end-use sector.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Cognizant Technology Solutions
- OpenText Corporation
- Adam Software
- Canto Inc.
- North Plains Systems
- Mediabeacon Inc.
- IBM Corporation
- Widen Enterprises Inc.
- Oracle Corporation
- Webdam Inc
Breakup by Component:
- System Integration
- Support and Maintenance
Based on the component, the market has been bifurcated into services and solutions. The services segment is further divided into support and maintenance, consulting, and system integration.
Breakup by Type:
- Brand Asset Management System
- Library Asset Management System
- Production Asset Management System
On the basis of the type, the market has been categorized into the library, brand, and production asset management systems.
Breakup by Application:
- Sales and Marketing
- Broadcast and Publishing
On the basis of the application, the market has been classified into broadcast and publishing; sales and marketing; and others.
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
On the basis of the organization size, the market has been bifurcated into large, and small and medium-sized enterprises.
Breakup by Deployment:
Based on the deployment, the market has been segregated into the cloud and on-premises segments.
Breakup by End-Use Sector:
- Media and Entertainment
- Banking, Financial Services and Insurance (BFSI)
- Healthcare and Life Sciences
- Travel and Tourism
Based on the end use sector, the market has been segmented into retail; education; healthcare and life sciences; manufacturing; travel and tourism; media and entertainment; banking, financial services, and insurance (BFSI); and others.
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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