Market Highlights
Digital asset management is a solution for storing and management of all digital assets of an organization. It can be used by individuals and enterprises for their respective uses. Corporations use digital asset management solutions for cross-selling their products to prospective customers based on their needs.
Digital Asset Management Software Market Forecasts a CAGR of 13.41% by the year 2030.
Market Scope
The global digital asset management software market is estimated to scale over the forecast period owing to companies and entities requiring software for maintaining control over their digital assets. Adoption of digital delivery methods and real-time consumer strategies can bode well for the market. Preference of rich media content for promoting brands and products as well as cloud solutions for reaching a massive audience can drive the market growth.
The use of artificial intelligence for providing prompt solutions to clients has led to the leveraging of DAM for tagging digital assets. Automated tagging can enable quick identification and retrieval of assets. It can also be used for identifying assets that can be liable towards the company and ensuring its deletion. DAM solutions can garner huge demand owing to organizations being flexible for adopting digital-native approaches to marketing.
The COVID-19 pandemic has driven the use of digital solutions among all enterprises. The use of DAM for streamlining delivery, management, and storage of digital assets can further bolster the market growth.
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Segmentation:
By deployment, the global digital asset management software market is divided into on premise and cloud. The cloud deployment is expected to garner huge demand within the market owing to shift to software-as-a-service (SaaS) model by organizations. Offering of intuitive services and mobile accessibility has led to various vendors such as Oracle to provide cloud solutions to their clients.
By application, it is segmented into manufacturing industry, entertainment industry, education, BFSI, and others. The entertainment industry is likely to generate maximum revenue for the global digital asset management market owing to rise of streaming platforms and need for content-driven sites. Management of large collection of audio, videos, and other files with the smooth functioning of DAM can drive the demand for the software over the forecast period.
By end users, it is segmented into small organizations, medium organizations, and large organizations. Large organizations are likely to take the lead in the global digital asset management software market owing to software being used for organizing digital assets by metadata. Access to brand materials for ensuring consistency within the organization as well as fueling marketing efforts can drive the demand for the software.
Regional Analysis
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are major regions analyzed for measuring the growth of the global digital asset management software market.
North America is anticipated to lead the global market over the assessment period due to successful penetration of social media sites. The use of DAM for reaching a massive audience in less time as well as use of analytical software for gleaning customer insights can drive its usage among organizations.
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Competitive Scope
IBM Corporation, Celartem Inc., Oracle Corporation, CELUM, Adobe Systems, Widen, HP, Cognizant Technology Solutions, EMC Corporation, and MediaBeacon Inc. are prominent players of the global digital asset management software market.
Industry News
Ledgermatic has developed digital asset management software for its clients for managing their data as well as integrate payment merchants for easy billing. It has taken the assistance of Algorand for developing blockchain ecosystem for moving assets from private networks to public domains.
Digital Asset Management Software Market Information, by Deployment (On premise, Cloud), by Application Areas (Entertainment industry, BFSI, Education), by End Users (Small organizations, Medium organization, Large organizations) - Forecast to 2027
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