The global digital asset management market is expected to reach USD 5.60 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a healthy growth, ascribed to the increasing preference by organizations for rich media content for promoting brands and products. Further, the rising adoption of portable devices in enterprises has increased security requirements, thereby increasing the demand for digital asset management solutions.
The market is also anticipated to be driven by the growing demand for digital marketing applications and solutions among enterprises for different purposes, such as asset analytics and lifecycle & rights management. Other significant factors driving the market growth are the increasing demand for integrated solutions and the rising usage of SaaS-based solutions.
The advantages of digital asset management solutions over conventional alternatives are expected to offer growth opportunities over the coming years. This includes migration from traditional marketing to real-time consumer-driven digital marketing strategies. Several organizations are adopting these solutions as they provide affordable solutions to share, manage, store, and retrieve data.
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Further key findings from the report suggest:
The marketing segment accounted for the largest revenue share in 2015 and is expected to witness growth at a CAGR exceeding 12% over the forecast period, owing to the rising need for a collaborative digital workflow.
Asia Pacific is expected to emerge as the fastest growing region with a CAGR exceeding 15% over the forecast period on account of increasing adoption of cloud technology and digitization among large enterprises and SMEs to improve employee productivity.
Digital asset management services are used for ensuring the smooth functioning of solutions installed by organizations thereby leading to the service segment growth over the forecast period.
Many vendors are moving from on-premise to cloud-based solutions that offer mobile accessibility and drag-and-drop functionality owing to which the segment is expected to witness high growth over the forecast period.
SMEs account for the biggest target audience of DAM players currently, which is encouraging operating companies in customizing their solutions and meeting the specific demands of small players.
The media & entertainment segment large depends on the smooth functioning and easy installation of DAM solutions, which helps save, manage, and recollect large volumes of digital data.
The key purveyors comprise ADAM Software NV, Adobe Systems Incorporated, Celum, Cognizant Technology Solutions Corp., EMC Corporation, IBM Corporation, North Plains Systems, OpenText Corporation, Oracle Corporation, WebDAM, and Widen Enterprises. The companies emphasize on adopting the best practices for developing solutions to achieve a competitive advantage.
Grand View Research has segmented the digital asset management market on the basis of type, deployment, enterprise size, application, end-use, and region:
Digital Asset Management Type Outlook (Revenue, USD Million; 2014 - 2025)
Digital Asset Management Deployment Outlook (Revenue, USD Million; 2014 - 2025)
Digital Asset Management Enterprise Size Outlook (Revenue, USD Million; 2014 - 2025)
Small & Medium Enterprise
Digital Asset Management Application Outlook (Revenue, USD Million; 2014 - 2025)
Photography, Graphics & Designing
Digital Asset Management End-Use Outlook (Revenue, USD Million; 2014- 2025)
Media and Entertainment
Automotive & Manufacturing
Digital Asset Management Regional Outlook (Revenue, USD Million; 2014- 2025)
Middle East & Africa
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