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The Global Digital Asset Management Market size is estimated to grow by USD 11,936.72 million between 2022 and 2027 accelerating at a CAGR of 22.05% during the forecast period. The growth of the market depends on several factors, including the shift from on-premises to SaaS, the increased use of DAM across retail, media, and entertainment industries, and the high demand for dynamic documents.
This report extensively covers market segmentation by deployment (on-premise and cloud), end-user (large enterprise, small, and medium enterprise), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The shift from on-premises to SaaS is notably driving the digital asset management market growth. Cloud-based storage services have attracted many firms across multiple industry verticals to choose their storage facility for digital files. Organizations are leveraging cloud-based storage services as the service providers manage digital files and offer disaster recovery solutions as well. Also, cloud-based solutions are flexible in terms of deployment and are available in three deployment models: IaaS, PaaS, and SaaS. This allows organizations to build their cloud-based infrastructure as per their business requirements.
To capitalize on this opportunity, companies are gradually moving toward offering cloud-based solutions that provide drag-and-drop functionality, mobile accessibility, and more intuitive services. Companies are targeting companies of all sizes by offering affordable options for all business users and their digital asset needs. They are also offering low-cost options and rapid deployment of services. All these factors are expected to drive the growth of the digital asset management (DAM) market growth during the forecast period.
The increased adoption of analytics to manage digital assets is the primary trend driving the digital asset management market. Organizations are widely adopting predictive analytical solutions for content analytics. They are integrating analytical solutions into digital asset management (DAM) systems to help asset managers manage organizational digital assets by implementing advanced IT solutions. This helps organizations to manage their unstructured enterprise data, such as text-based data, images, or videos, into structured data for the effective management of enterprise digital content. This is encouraging companies to offer products that can be integrated with analytics solutions.
For instance, Adobe offers its DAM product, Adobe Experience Manager. The product features analytics that can be used to analyze data and obtain insights from digital assets to build better campaigns across any channel. Such developments are expected to boost the growth of the digital asset management (DAM) market during the forecast period.
Data privacy and security concerns are the major challenges impeding the digital asset management market growth. Cloud-based solutions are at greater risk of cyber attacks. They are the most affected due to glitches in the source codes, as public clouds are multi-tenant that can affect various applications running in the cloud environment. It allows cyber attackers to gain easy access to cloud-based data storage systems as cloud-based infrastructure is based on open architecture and shared resources.
Thus, companies should encrypt the client's data and implement multi-factor authentication systems, such as biometrics, for the authorization of users in the clients' IT systems. Companies should also need to comply with the regulatory guidelines for cloud security management. Such challenges are expected to have a negative impact on the growth of the digital asset management (DAM) market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Digital Asset Management Market Customer Landscape
Comapnies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product launches, to enhance their presence in the market.
Acquia - The company offers digital asset management for marketing, sales, and e-commerce teams.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Technavio has segmented the digital asset management (DAM) market based on deployment as on-premise and cloud. The market share growth by the on-premise segment will be significant during the forecast period. On-premises DAM solutions offer features such as workflow streamlining, budgeting, DAM, and reporting. This software is suitable specifically for large complex marketing functions because the software is robust, expensive, and suitable for only such environments.
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The on-premise segment showed a gradual increase in the market share of USD 2,446.79 million in 2017 and will continue to grow by 2021. The biggest advantage of the on-premises software is that businesses can have complete control over their critical data. It provides a structure for aligning marketing objectives and execution across many business units, functions, or product lines. All these factors contribute to the growth of the segment.
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North America is projected to contribute 33% of the market growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Enterprises in the region are the early adopters of DAM solutions. Over the years, enterprises in the region have increased their IT budget by approximately 70% for cloud-based solutions. In addition, the imminent launch of 5G is increasing the demand for DAM solutions in the region. Many major industry players, including Huawei Investment and Holding Co. Ltd. (Huawei), are expected to accelerate the launch of 5G services by enabling DAM for planning, designing, and deploying the services. Many such factors are fostering the growth of the digital asset management (DAM) market in North America.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The outbreak of COVID-19 propelled the growth of the market in North America in 2021. The emergence of a new business environment characterized by the remote working culture increased the adoption of cloud services and digitization for planning, tracking, and monitoring data storage status. The imposition of lockdown norms across various industries fueled digital engagement. The integration of DAM solutions made remote working easier and enabled collaboration with clients while providing a secure and scalable digital infrastructure.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by deployment, end-user, and region.
Digital Asset Management Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 22.05% |
Market growth 2023-2027 |
USD 11,936.72 million |
Market structure |
Fragmented |
YoY growth (%) |
20.13 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 33% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acquia Inc., Adobe Inc., Aprimo, Bynder BV, Canto Inc., CELUM GmbH, Cloudinary Ltd., Cognizant Technology Solutions Corp., Danaher Corp., Frontify AG, Image Relay Inc., MediaValet Inc., Open Text Corp., Oracle Corp., PhotoShelter Inc., QBNK Co. AB, Smartsheet Inc., TIBCO Software Inc., WoodWing Software B.V., and International Business Machines Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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