The global digital asset management market size was valued at USD 1.45 billion in 2015 and is expected to grow significantly owing to the expanding densities and volumes of digital assets. Furthermore, the adoption of real-time consumer-driven strategies for digital marketing over traditional marketing and the development of innovative delivery models and products are also anticipated to drive sales over the forecast period.
UK digital asset management market by application, 2014 - 2025 (USD Million)
The growing organization preference for rich media content to promote brands and products is another major factor expected to impact the market growth positively. Cloud-based digital asset management vendors that provide cost-effective solutions also play a crucial role in instigating demand.
Digital asset management has progressively been adopted by users in various industries to store and save files to finish work on the real-time basis. The developments in DAM technology are encouraging organizations to adopt these solutions as well as services for collaboration, management, digital storage, and asset tracking. Moreover, DAM assists the user in making better branding as well as marketing strategies, and are thus being increasingly adopted for social media integration by several users. For instance, recently Hootsuite, a social media management tool developer selected MediaValet along with Google Drive, Dropbox, WebDAM, and others as their initial digital asset repository integration partners.
In 2015, the solutions segment captured a significant share and is expected to dominate the market over the forecast period. There has been an increase in the adoption of DAM solutions by marketing companies as they encourage instant information access through collaborative digital workflows, thereby increasing the organizational productivity. However, the segment is expected to witness maturity over the forecast period ascribed to the higher adoption, which will result in the services segment to gain traction in the next nine years.
The on-premise deployment was the largest segment, accounting for over 50% of the total revenue in 2015. However, this deployment method is costly and requires increasing storage requirements, which drives the need for high-end IT infrastructure, subsequently resulting in high cost. Owing to this, the segment is anticipated to witness sluggish growth in comparison to the cloud deployment over the next nine years.
The cloud-based deployment segment accounted for a considerable share in 2015 and is expected to witness a healthy demand over the forecast period, owing to the shift from on-premise to Software-as-a-Service (SaaS). It has recently been observed that many vendors including Oracle, EMC, IBM have started moving from on-premise to cloud that provides intuitive services, mobile accessibility, and drag-and-drop functionality. Since cloud-based solutions offer low-cost options and rapid deployment of services, they are increasingly being adopted by end-users as they help reduce the total cost of operation.
SMEs held over 40% of the total revenue share in 2015, and the segment is expected to experience growth at a CAGR exceeding 10% over the forecast period. This growth is due to its capacity to improve collaborative work processes across various departmental functions in an organization, resulting in increasing adoption over the predicted period.
Small and Medium-sized Businesses (SMBs) rely on DAM progressively to run their business. The increasing proliferation of cloud-based solutions is expected to impel the product demand among SMEs. Moreover, the increasing awareness about the advantages they offer over conventional content management solutions is anticipated to increase their adoption among SMEs in the coming years.
The marketing segment is anticipated to witness the fastest growth as it plays an important role in assisting sales personnel with the real-time access to the assets of sales. Sales & marketing is one of the sectors in which digital asset management is being rigorously adopted as it helps in maintaining and upholding the product and service brand image.
Photography/Graphics and designing is another segment that uses the asset management to secure designs, access files, as well as share and store photos. The photography sub-segment is anticipated to gain traction over the coming years.
The media & entertainment sector was the largest end-use segment, accounting for over 20% share in 2015. The demand for visual content and improvement in video quality have increased the creation of content in the media and entertainment sector, subsequently driving growth.
China digital asset management market by deployment, 2015 (USD Million)
The media & entertainment sector currently depends on the smooth functioning and installation of DAM as it helps in managing, recollecting, and saving large volumes of audios, images, videos, and other files. Managing these digital assets has become easier with DAM solutions, thereby making them an important part of the industry.
North America dominated the market accounting for over 25% of the total market share in 2015. This growth is attributed to the pervasive evolution of social media in the region. The generation of huge amounts of content due to social media has led marketers to adopt DAM in order to reach out to a large audience in the shortest time possible.
The demand for analytics is expected to gain traction in North America. This is because vendors are emphasizing on covering DAM solutions and analytics to offer customized tools to consumers, thereby stiffening the competition in the market.
Although North America emerged as a market leader; Asia Pacific is expected to witness the fastest growth over the forecast period at a CAGR of over 12%. The region offers huge opportunities for growth on account of the rising adoption of cloud technology and digital technology among small & medium enterprises as well as large enterprises to improve employee productivity.
The major industry participants include OpenText, Adobe Systems, Oracle, ADAM, EMC, IBM, Widen, North Plains, and Cognizant. OpenText is one of the major players in this market and has adopted different strategies to cater to the demands associated with digital asset management, including new product developments and partnerships. For instance, the company announced a new product launch of integrated solutions in September 2015 with SAP to provide an omnichannel experience to customers.
Moreover, in January 2015, OpenText introduced the next generation media management to help enterprises manage, store, and secure assets in an advanced way. Other companies are primarily involved in strategic alliances to gain a competitive advantage.
Base year for estimation
Actual estimates/Historical data
2014 - 2015
2016 - 2024
Revenue in USD Million & CAGR from 2016 to 2025
North America, Europe, Asia Pacific, Central & South America & MEA
U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, South Africa
Revenue forecast, company share, competitive landscape, growth factors, and trends
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This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the digital asset management market on the basis of type, deployment, enterprise size, application, end-use, and region:
Type Outlook (Revenue, USD Million; 2014 - 2025)
Deployment Outlook (Revenue, USD Million; 2014 - 2025)
Enterprise Size Outlook (Revenue, USD Million; 2014 - 2025)
Small & Medium Enterprises (SMEs)
Application Outlook (Revenue, USD Million; 2014 - 2025)
Photography, Graphics, & Designing
End-use Outlook (Revenue, USD Million; 2014 - 2025)
Media and Entertainment
Automotive & Manufacturing
Regional Outlook (Revenue, USD Million; 2014 - 2025)
Central & South America
Middle East & Africa (MEA)
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In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. The report will account for Covid19 as a key market contributor.