Digital Asset Management Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, India, Japan, Australia & New Zealand (ANZ), South Korea, Southeast Asia, Brazil, Mexico, Argentina, Colombia, South Africa, UAE, Saudi Arabia, Israel) Industrial Analysis Report, Growth Potential, 2021 – 2027
Report ID: GMI4673
Digital Asset Management Market size is set to increase considerably in the coming years due to content backups, reduction in workflow redundancies, controlled access, and less overhead in terms of time & money. DAM provides a robust system of storing, accessing & organizing digital assets in a central location. Using DAM, businesses eliminate the cost associated with the recreation of lost materials. DAM facilitates the reduction in workflow redundancies by enabling cross-department collaboration, reducing the cost of miscommunication.
DAM platforms provide information to stakeholders faster, making the content available to different departments on the self-serve environment. DAM administrators control the privileges of access to the content on the basis of user groups. An important asset in terms of data security is that organizations are able to restrict access to sensitive content to certain user groups.
On the basis of component, the global digital asset management market is segmented into solution and service. Service component can further be segmented into consulting, system integration, and maintenance. There are various companies providing solutions in the existing market. For instance, Adobe's DAM empowers organizations to manage and get all the information on one platform. Adobe has provided functionalities, which help organizations to work with teams from different domains in synchronization. It is integrated with AI abilities and is also information driven, making it easy to recognize which content is accomplishing a high ROI.
On the basis of deployment model, digital asset management is segmented into on-premise, cloud, and hybrid. For implementing an on-premise DAM solution, organizations require significant upfront investments on IT infrastructure, posing excessive strain on financial resources. To counter such issues, enterprises are swiftly transitioning toward cloud and hybrid models for better scalability and cost effectiveness. Cloud model is cost-effective as there are no servers or IT team requirement. However, hybrid model is gradually gaining traction as it provides the functionalities of both on-premise & on-cloud model.
On the basis of organization size, DAM is segmented into large enterprises and Small & Medium Businesses (SMEs). SMEs are able to access/edit the content online, which they were unable to do in the past due to cost restraints. Large enterprises are also using DAM due to its all-time availability and to secure their content from getting lost.
On the basis of application, digital asset management market is segmented into sales & marketing, designing, and IT. DAM makes it possible for all these segments to synchronize in a collaborative manner without any miscommunication. Sales and marketing teams are in sync with designing teams, facilitating the efficient marketing of upcoming products.
On the basis of end use, DAM is segmented into media & entertainment, BFSI, retail, healthcare, education, manufacturing, and government. Companies under different sectors are using DAM to market their products or use it for brand building. Leading retail corporations, such as Walmart and Tesco, generate several terabytes of data daily, posing a challenge for efficient and secure storage. Using DAM, managers are able to access the data and generate reports from the same.
The digital asset management market is driven by continuous data generation and change of conventional marketing to online marketing amongst enterprises across the spectrum. North America holds a major share in the global market and is expected to continue its dominance over the forecast period due to the presence of top DAM players in the region.
The key players operating in the digital asset management market are offering novel solutions for assisting organizations in digitizing their content. For instance, Bynder leverages AWS global services in order to increase scalability. Organizations using Bynder get access to on-demand features. It enables users to use a smart template tool, which helps in creating branded materials such as business cards, advertisements, and banners. Customization of workflow according to a particular organization is also possible in Bynder. The key players in the market are Bynder, Canto, CELUM, Cloudinary, Digizuite, Extensis, Adobe, Aprimo, Extensis, Image Relay, MediaValet, Northplains, Nuxeo, OpenText, and Picturepark.
Market by Component, 2015-2026 (USD Million)
- System integration
Market by Deployment, 2015-2026 (USD Million)
- On premise
Market by Organizational Size, 2015-2026 (USD Million)
- Large enterprises
Market by End User, 2015-2026 (USD Million)
- Banking, Financial Services and Insurance (BFSI)
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Southeast Asia
- Latin America
- South Africa
- Saudi Arabia
- Adobe, Inc.
- Aprimo US LLC
- Canto, Inc.
- CELUM GmbH
- Cloudinary Ltd.
- Extensis (Celartem, Inc.)
- Image Relay, Inc.
- MediaValet, Inc.
- Northplains (Aclate, Inc.)
- OpenText Corporation
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