Corporate Heritage Data Management Market: Snapshot
The global market for corporate heritage data management solutions is experiencing significant growth in demand from a number of industry verticals. Demand for essential historical/heritage in an organized manner is the driving force of the market. Companies have started realizing the benefits of heritage data for marketing and brand development activities. Increased spending on marketing and related activities is anticipated to drive the corporate heritage data management market.
Transparency Market Research estimates that the global corporate heritage data management market will rise to a valuation of US$834.6 mn by 2024, from US$175.2 mn in 2015. The market is estimated to expand at a remarkable CAGR of 19.1% during the forecast period from 2016 to 2024.
Digital Asset Management Solutions Witness High Adoption Levels
Among the solutions used for corporate heritage data management, digital asset management (DAM) held the largest market share of approximately 66% in 2015, as digital asset management provides an all-inclusive system for achieving corporate heritage data management. It provides a logical hierarchy for all the digital data within the enterprise. Data can be organized according to various parameters which can be manually selected. Furthermore, digital asset management provides advanced security features such as authorized permissions to data and features. It helps in limiting the exposure of intellectual property owned by enterprises. Full lifecycle support helps in moving the content within different applications and manage the workflow.
The segment of digital asset management is expected to retain its dominance in the global corporate heritage data management market throughout the forecast period as well, and account for a nearly 67% of the global market by 2024. The segment of data collection management (DCM) solutions holds a much lesser share in the global market as compared to the segment of DAM solutions, however, both the segments are anticipated to experience similar growth during the forecast period.
North America to Continue to Dominate Market but Lose to Asia Pacific in Terms of Growth Rate
In 2015, North America was the dominant market for corporate heritage data management as demand across the retail and manufacturing sectors experienced high adoption of sophisticated heritage data management solutions for effective organization of historic data. The use of heritage data management solutions across automobile companies for using historic data such as profiles of old models and manufacturing facilities also substantially increased in the region in the past few years. The continuous rise in demand for advanced heritage data management solutions across numerous industries is expected to allow North America to retain its dominance in the global market in the next few years as well.
However, due to the growing needs from the media and entertainment and telecom and IT sectors, Asia Pacific is anticipated to outpace North America and Europe, the latter of which presently holds the second position in the global market, over the forecast period. The region is expected to exhibit a CAGR of 21.3% from 2016 through 2024. The Asia Pacific heritage data management market is expected to gain tremendous growth opportunities from the flourishing telecom and IT sectors.
The market presently features a rather small number of established vendors. As such, the competition is moderate. However, the high growth prospects of the market are expected to attract many new vendors, making the market more competitive. Some of the key players operating in the corporate heritage data management market are North Plains Systems Corp., Open Text Corporation, Widen Enterprises, Inc., NetXposure, Inc., MediaBeacon, Inc., Eloquent Systems, Inc., CultureArk, GruppoMeta, Extensis, Inc., Arkivum Ltd., Media Equation Pty Ltd., Heritage Werks, Inc. and FINNZ.
Global Corporate Heritage Data Management Market: Scope of the Report
The corporate heritage data management market report provides analysis for the period 2014–2024, wherein the period from 2016 to 2024 is the forecast period and 2015 is the base year. The report covers all the major trends and technologies playing a key role in corporate heritage data management market growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence market’s growth during the said period. The study provides a holistic perspective on the corporate heritage data management market’s growth throughout the above mentioned forecast period in terms of revenue (in US$ Mn), across different geographies, including Asia Pacific, South America, North America, Europe, and Middle East & Africa (MEA).
The market overview section of the report demonstrates the market dynamics and trends, such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. An attractiveness analysis has also been provided for every geographic region in the report, in order to give a thorough analysis of the overall competitive scenario of the corporate heritage data management market, globally. Moreover, the report provides an overview of the various strategies of key players present in the market. Key market indicators included in the report provide analysis of the factors which are capable of affecting the market scenario. These indicators are expected to define the market scenario during the forecast period.
Global Corporate Heritage Data Management Market: Segmentation
The report segments the global corporate heritage data management market on the basis of solution into Digital Asset Management, Digital Collection Management and Others. By application, the market has been classified into BFSI, Telecom and IT, Retail, Government, Museums and Art, Health Care, Education, Media and Entertainment, Non-profit Organizations, Hospitality and Others. Thus, the report provides in-depth cross-segment analysis of the corporate heritage data management market and classifies it into various levels, thereby providing valuable insights at the macro as well as micro levels.
Global Corporate Heritage Data Management Market: Competitive and Geographical Dynamics
The report also highlights the competitive landscape of the corporate heritage data management market, thereby positioning all the major players according to their geographic presence and recent key developments. The comprehensive corporate heritage data management market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the corporate heritage data management market’s growth.
On the basis of country, North America market is divided into the U.S., Canada and Rest of North America. Similarly, Europe market is divided into the U.K., Germany, France, Spain, Italy and Rest of Europe. Asia Pacific has been segmented into China, Japan, India, the Philippines and Rest of Asia Pacific. Middle East and Africa covers the UAE, Saudi Arabia, South Africa and Rest of Middle East and Africa, similarly, South America region includes Brazil and Rest of South America.
This report provides all the essential information required to understand the corporate heritage data management and its components. Also, the report provides insights related to the policies and regulations according to the various geographical regions mentioned above. These policies and regulations are directly or indirectly influencing the corporate heritage data management market. Furthermore, Porter’s Five Forces analysis explains the factors which are currently affecting the corporate heritage data management market. This report also provides the ecosystem analysis for the corporate heritage data management which explains the participants of the value chain.
North Plains Systems Corp., Open Text Corporation, Widen Enterprises, Inc., NetXposure, Inc., MediaBeacon, Inc., Eloquent Systems, Inc., CultureArk, GruppoMeta, Extensis, Inc., Arkivum Ltd., Media Equation Pty Ltd., Heritage Werks, Inc. and FINNZ are some of the major players operating within the global corporate heritage data management market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
Corporate Heritage Data Management Market
- Digital Asset Management
- Digital Collection Management
- Telecom and IT
- Museums and Art
- Health Care
- Media and Entertainment
- Non-profit Organizations
- North America
- The U.K.
- Asia Pacific
- The Philippines
- Middle East and Africa
- Saudi Arabia
- South Africa
- South America