Digital Asset Management Market
Digital Asset Management Market (Solution - Asset and Metadata Archiving, Video Management, Web Content Management, Creative Tool Integration, and Lifecycle and Rights Management; Deployment Model - Enterprise, On-premise, and Cloud; Application - Marketing, Sales, Information Technology, and Photography and Graphic Designing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Press Release :
Global Digital Asset Management Market: Snapshot
Digital asset management is the process of storing and organizing data and managing digital rights and permissions in small and large enterprises. The rising concern over increasing labor wages has resulted into organizations focusing on automation of their operations. The increased realization that the use of automation not only reduces the need for human labor, but also increases the efficiency of operation and reduces the chances of human error, is providing a massive push to the adoption of automation practices.
Furthermore, processing industries such as chemical processing, pulp and paper, oil refineries are gradually shifting towards automation to sustain in the competitive environment. The increase in demand for process automation is directly driving the need for digital asset management as it is used for storing, organizing and retrieving rich media and managing digital rights and permissions which are essential in any automation process. The organization of digital assets has become a priority for majority of the companies with vast digital assets. This has resulted into an increasing demand for digital asset management (DAM) software solution globally.
Transparency Market Research estimates that the global digital asset management market, which valued at US$1,732.5 mn in 2016, will exhibit an excellent CAGR of 15.6% from 2017 to 2025 and account for US$6,327.8 mn in 2025.
Cloud Deployment Models to Gain Increasing Preference in Near Future
The global DAM market has been segregated in terms of deployment model in the report into enterprise, on-premise, and cloud deployment models. Of these, the segment of enterprise deployment model held the dominant share in the global market in 2016 and is expected to remain the leading contributor of revenue throughout the forecast period as well.
However, the segment is expected to witness a slight decline in its present share in the global market by the end of the forecast period, owing chiefly to the rising popularity of cloud-based deployment as a much cheaper and reliable option. The cloud deployment model is expected to grow robustly during the forecast period owing to the increasing demand for remote access of data.
Asia Pacific to Exhibit Massive Rise in Demand
From a geographical perspective, the global market for digital asset management has been segmented in the report into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America and Europe have been noted to be the leading contributors to the global market, accounting cumulatively for over 50% of the global market in 2016. North America includes the U.S. and Canada which are primarily focusing on automation of workforces and cloud storage of data. In addition, the regions house several of the major players in the market such as IBM Corporation, Hewlett Packard Enterprise and Oracle Corporation among others.
However, the increasing demand for enterprise content management in emerging economies such as India and China is driving the demand in Asia Pacific region which is expected to lead in terms of rate of growth during the forecast period. The growing demand for digitalization and data management in emerging economies such as India, China, and Japan is aiding the demand for DAM solutions in the region. Moreover, India is an important hub for consulting and outsourced projects from organizations operating in Europe and North America. The region thus presents immense scope for the usage of DAM solutions for the constant coordination of local offices with headquarters by synchronizing the data in centralized servers.
Some of the leading players operating in the global digital asset management market profiled in the report are IBM Corporation, Hewlett Packard Enterprise, Dell EMC, Oracle Corporation, Boeing, Amazon Web Services, Microsoft Corporation, Commvault, Symantec Corporation, Opentext Corporation, and Canto, Inc.
Global Digital Asset Management Market to Expand as New Automation Platforms make their Way across Businesses
The demand within the global digital asset management market is set to increase at a respectable pace in the times to follow. The use of digital technologies has become imperative for large business and corporate organizations. This can be attributed to the rapid shift from manual nodes to automated and intelligent platforms. The presence of a seamless industry for overseeing the pace of digital transformation has created palpable opportunities for market growth and expansion. All major industries concur with the need for digitalizing their functionalities in order to get a competitive edge in this increasingly complex business scenario. All of the aforementioned factors are suggestive of the inflow of fresh revenues into the global digital asset management market.
- The unprecedented value of mitigating the COVID-19 crisis compelled major businesses and organizations to resort to digital modes of dealing and selling. This in turn proliferated the use of digital asset management technologies across the globe. Furthermore, use of high-end technologies for digital marketing and sales during the COVID crisis also caused an uptick in sales across the global digital asset management market. The COVID-19 pandemic saw an increase in use of digital technologies by leaps and bounds. Certain research studies point that the digital transformation that was planned to take shape over the next five years has come through only during the times of the pandemic.
It is worthwhile to note that several organizations were strengthening their digital game since the pre-COVID era. This is a key consideration from the perspective of evaluating revenue inflow into the global digital asset management market. Furthermore, the need for connecting the workforce across digital channels, especially for global businesses, has also brought digital asset management under the spotlight of attention. In view of these factors, it is logical to expect the global digital asset management market to gather tremendous momentum in the times to follow.
Global Data Asset Management Market: Overview
Digital asset management helps in storing and managing important data for future reference and access. The market for digital asset management is expected to witness strong growth during the forecast period owing to the increasing application in marketing and sales. Furthermore, the use of DAM for video management solutions is also set the drive the demand for the market.
There are several factors aiding the demand for digital asset management market. The global emergence of rise in labor wages is resulting into the need for process automation in order to increase the efficiency at workplace. The use of DAM reduces expenses by eliminating the time needed for searchingthe files, posting files to desired locations,re-creating missing files, and delivering them via FTP, discs, or drives. Furthermore, it improves the revenue by creating and delivering assets and campaigns for more devices and platforms. In addition, it improves the collation at work by distributing teams which work together towards a desired goal.
Going further, the case of increasing labor wages has led to the need for automation in manufacturing industries. Moreover, the use of automation not only reduces the need for human labor but also increases the efficiency of operation and reduces the chances of human error. Furthermore, processing industries such as chemical processing, pulp and paper, oil refineries are gradually shifting towards automation to sustain in the competitive environment. The increase demand for process automation is directly driving the need for digital asset management as it is used for storing, organizing and retrieving rich media and managing digital rights and permissions which are essential in any automation process.
The changing global scenario portrays the increased demand for digital marketing solutions and applications in different organization for various purposes such as asset analytics and other lifecycle and rights management. Moreover, the enterprises have started focusing on the high value of data which needs to be stored securely. In addition, it is difficult to manage and maintain complex data sets manually. The use of DAM helps the IT department in organizing the data and securing it from unwanted access. This factor is further driving the demand for DAM globally.
However there are certain issues which are limiting the growth of the DAM in the global market. The high cost of DAM software is one of the primary factors hindering the growth of the market. Furthermore, the security concerns of the data stored in cloud based DAM software is another factor limiting their demand in the market.
Global Data Asset Management Market: Segmentation
The global digital asset management market has been segmented by solutions, deployment model, application and geography. By solutions, the market has been categorized intoasset & metadata archiving, video management, web content management, creative tool integration and lifecycle & rights management among others. Furthermore, the market has been segregated by deployment model into enterprise, on premise and cloud deployment model among others. By application, the market has been segmented into marketing, sales, information technology and photography and graphic designing among others. Each of the segmented has been studies in different regions such as North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Global Data Asset Management Market: Scope of the Report
The global report of digital asset management market also includes the key trends expected to affect the demand and supply of the asset management systems in future. Moreover, the market attractiveness of the various types of solutions have been included in order understand the future opportunities of these segments. The global market of digital asset management has been tracked in terms of revenue from 2017 to 2025 where in 2016 has been considered as the base year of the study.
The report also includes a detailed company profile of the major players which includes the company overview, product segments, and financial performance over the last three years, SWOT analysis and the business strategies adopted by them. The key players profiled in this report include IBM Corporation (U.S.), Hewlett Packard Enterprise (U.S.), Dell EMC (U.S.), Oracle Corporation (U.S.), Boeing (U.S.), Amazon Web Services (U.S.), Microsoft Corporation (U.S.), Commvault (U.S.), Symantec Corporation (U.S.), Opentext Corporation (U.S.) and Canto, Inc. (U.S.).
The Global Digital Asset Management market can be segmented as follows;-
By Deployment Model