The global market for digital asset management features the presence of several well-established companies and a large number of small- and medium-scale emerging companies as well, rendering the competitive landscape highly fragmented, observes Transparency Market Research (TMR) in a recent report. North America is home to some of the most influential vendors in the market, including IBM Corporation, Microsoft Corporation, Oracle Corporation, and Dell EMC.
The intense competition in the market, characteristic of a fragmented vendor landscape, has compelled companies to focus on the development of innovative products and concentrate on strategic alliances with companies in high growth potential application segments and regional markets. A recent instance is the strategic collaboration between Commvault and Crayon, a global leader in management, consultancy, and service provider licensing. Under the partnership, Commvault’s data management software platform, Simpana, was integrated into Crayon’s portfolio of leased software solutions for cloud hosting service providers in the Europe, Middle East, and Africa region.
Transparency Market Research estimates that the global digital asset management market, which valued at US$1,732.5 mn in 2016, will exhibit a CAGR of 15.6% from 2017 to 2025 and rise to a valuation of US$6,327.8 mn in 2025.
North America to Remain Leading Revenue Contributor to Global Market
In terms of application, the segment of marketing and sales accounted for over 50% of the global market in 2016 and is expected to remain the leading application area using a variety of DAM solutions over the forecast period as well. From a geographical perspective, North America has been identified to be the leading contributor of revenue to the global digital asset management market. The region held over 30% of the global market in 2016, chiefly owing to the presence of leading players such as Oracle Corporation, IBM Corporation, and Dell EMC. Furthermore, the increasing application of digital asset management is marketing and sales is aiding to the growth of the market in this region.
Rising Volume of Complex Data Sets Encourages Adoption of DAM Solutions
One of the key factors to have significantly increased the overall global demand for digital asset management solutions globally is the increased priority of the enterprise sector to the organization of digital assets. Moreover, the increased realization regarding the fact that the integration of cloud-based solutions expedites the functionality and offers mobile accessibility to digital data transfer and processing is also a key factor aiding the increased usage of DAM solutions globally. Owing to this, big organizations are gradually implementing DAM services in order to manage their digital assets systematically.
The rapid rate of digitization of the enterprise as well as public sectors has also encouraged the usage of digital marketing solutions and applications in different organization for various purposes such as asset analytics and other lifecycle and rights management. Moreover, the enterprise sector has started focusing on the high value of data and the need to store it securely. Additionally, the momentous increase in complex data sets and the limitations of manually operated data management activities in efficiently managing such data has presented the vast need for effective digital asset management solutions.
High Costs to Deter Small Enterprises from Adopting DAM Solutions
However, the high cost associated with implementing digital asset management solutions is restraining the demand of the market during the forecast period. Nevertheless, several smaller players offer DAM solutions which can be customized to perform specific solutions based upon the need of the customer. This is expected to drive the demand for DAM in small and medium enterprises.
This review of the market is based on a recent market research report published by Transparency Market Research, titled “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.”
The report segments the digital asset management market as follows:
Global Digital Asset Management Market, By Solutions
- Asset & Metadata Archiving
- Video Management
- Web Content Management
- Creative Tool Integration
- Lifecycle & Rights Management
Global Digital Asset Management Market, By Deployment Model
Global Digital Asset Management Market, By Application
- Information Technology
- Photography & Graphic Designing
Global Digital Asset Management Market, By Geography
- North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America