Albany, NY -- (SBWIRE) -- 10/26/2018 -- The global digital asset management market is estimated to attain a valuation of US$6.33 bn by the end of 2025 progressing from US$1.73 bn in 2016. The market is expected to rise at a healthy 15.6% CAGR during the forecast period 2017 to 2025.

Based on deployment type, the enterprise deployment model held major share in the global digital asset management market in 2016. This segment is likely to maintain its dominance in the near future but may experience slight decline due to rising popularity of cloud based deployment model. On the regional front, Europe and North America held half of the market share in 2016. On the other hand, Asia Pacific is projected to lead the market due to growing demand for digitalization in the region.

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The growing pace of digitalization in various organizations and in several public sector department has significantly grown the demand for digital asset management market. Moreover, large accumulation of data and need to store them properly has also driven the DAM market on a large scale. As it is complex process to manage large data sets and to control limitation and difficulties manually, thus, to deal with these issues the demand for digital asset management has grown. To mention some of the other growth factors are government mandates to maintain transparency of operations and improvement in digital content to benefit the market growth in coming few years.

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From a geographical perspective, the global market for digital asset management has been segmented in the report into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America and Europe have been noted to be the leading contributors to the global market, accounting cumulatively for over 50% of the global market in 2016.

North America includes the U.S. and Canada which are primarily focusing on automation of workforces and cloud storage of data. In addition, the regions house several of the major players in the market such as IBM Corporation, Hewlett Packard Enterprise and Oracle Corporation among others.

However, the increasing demand for enterprise content management in emerging economies such as India and China is driving the demand in Asia Pacific region which is expected to lead in terms of rate of growth during the forecast period. The growing demand for digitalization and data management in emerging economies such as India, China, and Japan is aiding the demand for DAM solutions in the region.

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Moreover, India is an important hub for consulting and outsourced projects from organizations operating in Europe and North America. The region thus presents immense scope for the usage of DAM solutions for the constant coordination of local offices with headquarters by synchronizing the data in centralized servers.