DUBLIN--(BUSINESS WIRE)--The "Global Digital Asset Management (DAM) Market, By Component, By Industry & By Region- Forecast and Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
Global Digital Asset Management (DAM) Market was valued at USD 3.68 Billion in 2021, and it is anticipated to attain a value of USD 9.32 Billion by 2028, at a CAGR of 14.2% over the prediction period (2022 - 2028).
Pictures, graphics, text-containing files, movies, and spreadsheets are just a few examples of the digital assets that have increased dramatically over the past few years. The primary cause of this increase has been attributed to the rapid digitization of content. The digital asset management (DAM) solution enables the authorised person to save, review, edit, retrieve, or distribute digital information via a centralised interface. A DAM solution also automates and collaborates on workflow while managing permissions through copyright functions. Asset analytics, creative tool integration, asset and metadata archiving, video management, lifecycle & rights management, and web content management are a few of the popular DAM solutions.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Digital Asset Management (DAM) Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
The Global Digital Asset Management (DAM) Market is segmented based on Component, Industry, and Region. Based on Component, it is categorized into Solution and Services. Based on Industry, it is categorized into Banking, Financial Services & Insurance (BFSI), Telecom, IT, Retail, Healthcare & Life Sciences, Education, Media, Entertainment, Manufacturing. Based on the region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Drivers
In enterprises, both the quantity of digital assets and the rate at which they are enriched are significantly rising. The massive increase in the quantity of digital assets has caused businesses to quickly move their digital asset storage to the cloud. Due to this, incumbent on-premises DAM solution vendors have been forced to redesign their cloud platform offerings, and new cloud-based DAM solution providers have entered the market. Several DAM companies have started offering cloud-based DAM solutions, including Adobe, OpenText, Aprimo, Widen, and Canto.
Restraints
The starting price for enterprise-level DAM, such as Adobe Experience Manager, is USD 0.5 million per year (excluding licencing fees). However, as the number of users per account and storage capacity increase, so does the overall cost of DAM licencing and installation. Due to the challenges in pricing support services, the limitations of digital asset management, and other minor skills, many SMEs are hesitant to use DAM systems.
Market Trends
Thanks to artificial intelligence, the bulk of digital solutions now function differently (AI). As a result, businesses are taking AI and machine learning (ML) capabilities into account when choosing DAM systems. With the use of AI-based DAM solutions, businesses can automate image tagging, or the assignment of keywords or metadata to digital assets like files, photos, text, and videos depending on what they include. This automatic labelling enables speedy segmentation, identification, and retrieval of digital materials.
Companies Mentioned
- Adobe (US)
- OpenText (Canada)
- Cognizant (US)
- Aprimo (US)
- Bynder (US)
- Sitecore (US)
- Widen (US)
- MediaBeacon (US)
- CELUM (Austria)
- Nuxeo (US)
- Canto (US)
- Wedia (France)
- Digizuite (Denmark)
- Censhare (Germany)
- Cloudinary (US)
- MediaValet (Canada)
- Northplains (Canada)
- BrandMaker (Germany)
- Brandfolder (US)
For more information about this report visit https://www.researchandmarkets.com/r/xtm71t
