Albany, NY -- (SBWIRE) -- 11/14/2018 -- Digital asset management helps in storing and managing important data for future reference and access. The market for digital asset management is expected to witness strong growth during the forecast period owing to the increasing application in marketing and sales. Furthermore, the use of DAM for video management solutions is also set the drive the demand for the market.

There are several factors aiding the demand for digital asset management market. The global emergence of rise in labor wages is resulting into the need for process automation in order to increase the efficiency at workplace. The use of DAM reduces expenses by eliminating the time needed for searchingthe files, posting files to desired locations,re-creating missing files, and delivering them via FTP, discs, or drives. Furthermore, it improves the revenue by creating and delivering assets and campaigns for more devices and platforms. In addition, it improves the collation at work by distributing teams which work together towards a desired goal.

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Going further, the case of increasing labor wages has led to the need for automation in manufacturing industries. Moreover, the use of automation not only reduces the need for human labor but also increases the efficiency of operation and reduces the chances of human error. Furthermore, processing industries such as chemical processing, pulp and paper, oil refineries are gradually shifting towards automation to sustain in the competitive environment. The increase demand for process automation is directly driving the need for digital asset management as it is used for storing, organizing and retrieving rich media and managing digital rights and permissions which are essential in any automation process.

The changing global scenario portrays the increased demand for digital marketing solutions and applications in different organization for various purposes such as asset analytics and other lifecycle and rights management. Moreover, the enterprises have started focusing on the high value of data which needs to be stored securely. In addition, it is difficult to manage and maintain complex data sets manually. The use of DAM helps the IT department in organizing the data and securing it from unwanted access. This factor is further driving the demand for DAM globally.

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However there are certain issues which are limiting the growth of the DAM in the global market. The high cost of DAM software is one of the primary factors hindering the growth of the market. Furthermore, the security concerns of the data stored in cloud based DAM software is another factor limiting their demand in the market.