Digital Asset Management Market Will Respond $8.1 Billion Globally by 2024
Digital Asset Management Market: by Product (Brand Asset Management, Library Asset Management, Production Asset Management, and Digital Supply Chain Services), by Component (Solutions and Services [Consulting, System Integration and Training and Support]), by Deployment (On-Premises and Cloud), by Application (Enterprise, Marketing, Broadcast and Publishing, and Others), and by Vertical (IT and Telecom, BFSI, Media and Entertainment, Retail, Healthcare, Travel and Tourism, Education, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024
Sarasota, FL -- (SBWire) -- 03/12/2019 --"Digital Asset Management Market by Product (Brand Asset Management, Library Asset Management, Production Asset Management, and Digital Supply Chain Services), by Component (Solutions and Services [Consulting, System Integration and Training and Support]), by Deployment (On-Premises and Cloud), by Application (Enterprise, Marketing, Broadcast and Publishing, and Others), and by Vertical (IT and Telecom, BFSI, Media and Entertainment, Retail, Healthcare, Travel and Tourism, Education, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024''. According to the report, the global digital asset management market was valued at around USD 2.5 billion in 2017 and is expected to reach approximately USD 8.1 billion by 2024, at a CAGR of slightly above 18.4% between 2018 and 2024.
Digital asset management (DAM) basically includes solutions for storing, organizing, searching, retrieving, and sharing digital content. DAM is a digital library that facilitates employees, peers, contractors, and clients with controlled digital assets control. This digital library includes photos, images, files, audio, video, documents, and presentation.
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Online marketing or digital advertisement plays a vital role in driving the digital asset management market globally. More and more companies are focusing on improving their online marketing presence to attract and maintain a huge customer base. With the rise in digital marketing activities globally, the need for organizing digital assets has elevated. The authentication of digital content is the prime concern of any online marketer, for which DAM solutions are highly preferred. Thus, these factors are likely to propel this market in the upcoming years. Globally, the digital advertising market is anticipated to account USD 266.2 billion by 2018. In some emerging economies, people are still unaware of the benefits of DAM and following traditional approaches. Thereby, low awareness and reliance on traditional approaches might restrain this market. Moreover, integrating artificial intelligence with DAM solutions for massive digital content storage is anticipated to create new growth opportunities for the market players in the forecast time period.
The digital asset management market is segmented on the basis of product, component, application, deployment, and vertical. By product, the market is segmented into brand asset management, library asset management, production asset management, and digital supply chain services. The component segment is classified into solutions and services. The service segment is further segmented into consulting, system integration, and training and support. By deployment, the market is categorized into cloud and on-premises. By application, this market includes enterprise, marketing, broadcast and publishing, and others. By verticals, this market is classified into IT and telecom, BFSI, media and entertainment, retail, healthcare, travel and tourism, education, and others.
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Geographically, the digital asset management market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North American digital asset management market is projected to hold a significant market share globally, owing to the market penetration of the media and entertainment industry in the region. The Asia Pacific region is projected to hold a major share in the digital asset management market globally in the years ahead. The growing demand for DAM solutions for formulating various e-commerce strategies regarding online retailing for attracting huge customer base in developing Asian economies is primarily contributing to this regional market growth.
Some key participants of the global digital asset management market are Canto, Adobe Systems Inc., OpenText Corp., WebDAM, SAS Institute Inc., Bynder, Celum, MediaValet Inc., DAM Software NV, Pica9 Inc., Widen Enterprises Inc., Workfront Inc., and North Plains Systems Corp., among others.
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This report segments the global digital asset management market into:
Digital Asset Management Market: Product Analysis
Brand Asset Management
Library Asset Management
Production Asset Management
Digital Supply Chain Services
Digital Asset Management Market: Component Analysis
Training and Support
Digital Asset Management Market: Deployment Analysis
Digital Asset Management Market: Application Analysis
Broadcast and Publishing
Digital Asset Management Market: Vertical Analysis
IT and Telecom
Media and Entertainment
Travel and Tourism
Digital Asset Management Market: Regional Analysis
The Middle East and Africa
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