Digital Asset Management Market Analysis North America,Europe,APAC,South America,Middle East and Africa - US,China,Japan,UK,Germany - Size and Forecast 2023-2027

Digital Asset Management Market Forecast 2023-2027

The Global Digital Asset Management Market size is estimated to grow by USD 11.94 billion between 2022 and 2027, accelerating at a CAGR of 22.05% during the forecast period. Market growth hinges on numerous factors, notably the transition from on-premises solutions to Software-as-a-Service (SaaS) models, the widespread adoption of DAM systems across retail, media, and entertainment sectors, and the escalating need for dynamic document management. This shift signifies a broader industry trend towards cloud-based solutions, enabling greater scalability, accessibility, and cost-effectiveness. The surge in DAM usage reflects evolving consumer demands for seamless content delivery and management, especially in digital-heavy industries. Furthermore, the demand for dynamic documents underscores the necessity for agile and adaptable content creation tools, catering to the fast-paced and ever-changing nature of modern businesses and consumer preferences.

What will the Size of the Market be During the Forecast Period?

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Market Segmentation

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.

Market Dynamics and Customer Landscape

In today's digitalized business landscape, effective management of digital assets has become essential for businesses of all sizes, including medium and small ones, as well as retailers. Digital Asset Management (DAM) software plays a crucial role in this process by facilitating the organization, storage, and retrieval of various digital content types, such as product images, videos, marketing campaigns, and print materials. The content lifecycle, from creation to distribution, is streamlined through DAM systems. These solutions help businesses minimize inventory shrinkage and margin compression by ensuring that the right digital assets are available at the right time and location, be it in-store or during the online order fulfillment process. Moreover, DAM software aids in stock replenishment by providing businesses with a digital library of up-to-date product information. It also assists in reducing redundant content and maintaining a consistent product library, enhancing the overall instore experience and marketing efforts. In summary, Digital Asset Management software is an indispensable tool for businesses aiming to optimize their content location, hub, and management processes in the context of digitalization, smart phones, and the evolving retail landscape. 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.

Key Market Driver 

The shift from on-premises to SaaS is notably driving the market growth. In the market, businesses of all sizes are transitioning from traditional on-premises systems to cloud-based solutions. These innovative offerings provide user-friendly interfaces, mobile accessibility, and intuitive services, making content management more efficient. Cloud-based DAM software enables businesses to centralize, organize, share, and collaborate on digital assets from any location. Cloud deployment models include Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS), allowing businesses to build customized digital asset hubs according to their unique requirements.

Moreover, medium and small businesses benefit from affordable, pay-per-use pricing and rapid implementation. Key features of cloud-based DAM software include advanced filters, metadata management, custom fields, asset discovery, and AI algorithms for content lifecycle management. Project stakeholders can access project folders and collaborate in real-time, while support services ensure seamless integration with digital content, presentations, creative files, and traditional marketing materials. All these factors are expected to drive the growth of the market growth during the forecast period.

Significant Market Trends

The increased adoption of analytics to manage digital assets is the primary trend driving the market. The market encompasses software solutions that facilitate the location, hub, and management of digital assets in businesses. These assets, including text, images, and videos from mobile applications and smart devices, undergo a content lifecycle. DAM software enables centralizing, organizing, sharing, collaborating, and presenting digital content for effective enterprise digital management.

Moreover, medium and small businesses increasingly adopt user-friendly DAM solutions for digitalization. Management software offers initial implementation, lifetime licenses, and support services. Non-hosted DAM solutions cater to enterprise-level requirements, while Adobe Experience Manager is a popular choice. Project folders and stakeholders benefit from AI algorithms, custom fields, asset discovery, advanced filters, metadata, embedded fields, and digital rights management. Such developments are expected to boost the growth of the market during the forecast period.

Major Market Challenge

Data privacy and security concerns are the major challenges impeding the market growth. In the realm of business digitalization, managing digital assets effectively and securely is a crucial concern. The market for Digital Asset Management (DAM) software has gained significant traction as companies seek to centralize, organize, share, and collaborate on their content. DAM solutions serve as a hub for digital assets throughout their lifecycle, enabling businesses of all sizes, from medium to small, to efficiently manage and access their content from various locations.

Moreover, user-friendly DAM systems offer advanced features such as AI algorithms, custom fields, asset discovery, and advanced filters, ensuring metadata and embedded fields are accurately maintained. These systems also support digital rights management and offer project folders for effective collaboration among project stakeholders. Such challenges are expected to have a negative impact on the growth of the market during the forecast period.

Market Customer Landscape

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.

Market Customer Landscape

Who are the Major Market Companies?

Companies 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:

• 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.
• International Business Machines Corp.

Qualitative and quantitative market growth 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.

What is the Fastest-Growing Segment in the Market?

The market share growth by the on-premise segment will be significant during the forecast period. In the market, businesses utilize non-hosted management software as a content hub to centrally locate, organize, share, and collaborate on digital assets. This solution is particularly beneficial for large, complex marketing functions in departments such as retail and traditional marketing. The software facilitates digitalization, enabling user-friendly access to content from smartphones and other devices.

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The on-premise segment showed a gradual increase in the market share of USD 2.45 billion in 2017 and will continue to grow by 2021. For medium and small businesses, initial implementation may involve a lifetime license, such as Day Dream, while enterprise-level organizations opt for enterprise DAM solutions like Adobe Experience. These systems offer advanced features, including project folders, custom fields, asset discovery, and advanced filters. AI algorithms and metadata management enhance content lifecycle management. Enterprise DAM solutions provide businesses with complete control over their digital content, ensuring data security and digital rights management. They offer advanced capabilities for workflow streamlining, budgeting, and reporting, making them suitable for large organizations with multiple business units, functions, or product lines. Support services ensure seamless implementation and ongoing system maintenance. Hence, such factors are fuelling the growth of this segment, which in turn drives the market during the forecast period.

Which are the Key Regions for the Market?

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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.

The market in North America has experienced significant growth, driven in part by the adoption of cloud-based solutions. Emerging technologies have expanded the capabilities of DAM systems, leading to a behavioral shift among consumers and enterprise-level teams. Scalable storage solutions enable the organization and smart search of multimedia assets, while discovery features and improved collaboration facilitate efficient document presentations. The launch of 5G is anticipated to further fuel market growth, with major players like Huawei Investment and Holding Co. Ltd. (Huawei) set to deploy DAM for planning, designing, and deploying 5G services. The market is witnessing mergers and collaborations among small and mid-sized businesses and large enterprises in sectors such as healthcare, ecommerce and retail, travel and hospitality, and others. Deployment models range from on-premises to cloud-based, with high pricing and upfront costs being a consideration for some organizations. Hence, such factors are driving the market in North America during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Deployment Outlook 
  • On-Premise
  • Cloud

• End-user Outlook 
  • Large Enterprise 
  • Small and Medium Enterprise

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • South America
    • Argentina
    • Brazil
    • Chile
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

In today's digital world, effective management of digital assets is crucial for businesses and organizations. The market has seen significant growth due to the increasing need to streamline workflows, enhance collaboration, and ensure brand consistency. DAM systems enable the centralized storage, organization, and retrieval of various digital assets such as images, videos, audio files, and documents. Adobe and Daman are key players in the DAM market, offering enterprise-level solutions for managing digital content. These systems provide features like metadata management, department, medium businesses, profit margin, fulfilment process, product videos, version control, access control, and search functionality.

Projects like folders, projects, and workflows help teams collaborate efficiently and deliver high-quality content. The benefits of DAM systems extend beyond internal use. They can also be used to provide easy access to digital assets for external stakeholders, such as clients or partners. This not only saves time but also ensures that the most up-to-date and approved versions of assets are being used. Moreover, DAM systems can integrate with other marketing tools, such as content management systems (CMS) and marketing automation platforms, to create a seamless workflow for digital marketing campaigns. This results in improved brand consistency, increased productivity, and better customer engagement.

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 11.94 billion
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 forecasting, 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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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period.
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the size of the market and its contribution to the parent market.
• Accurate predictions about upcoming trends and changes in consumer behavior.
• Market industry growth across North America, Europe, APAC, South America, and the Middle East and Africa.
• A thorough market research report analysis of the market’s competitive landscape and detailed information about companies.
• Comprehensive market growth and forecasting analysis of factors that will challenge the growth of market companies

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