PUNE, India, July 6, 2017 /PRNewswire/ --
According to a new market research report "Digital Asset Management (DAM) Market by Component (Solutions and Services), Application (Enterprise, Marketing, and Broadcasting and Publishing), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the Digital Asset Management Market is projected to grow from USD 2.44 Billion in 2017 to USD 5.66 Billion by 2022, at a CAGR of 18.3%.
Browse 57 Market Data Tables and 64 Figures spread through 139 Pages and in-depth TOC on "Digital Asset Management (DAM) Market"
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DAM solutions and services are witnessing a rising demand across the globe due to the significant rise in digital assets across different industry verticals. Moreover, the increased spending on digital marketing by industries is also considered as a vital factor driving the growth of this market.
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The cloud deployment segment is expected to grow at the highest CAGR during the forecast period
The cloud deployment segment is projected to grow at the highest growth rate during the forecast period, due to the cost benefits and speed of deployment offered by cloud as compared to on-premises. However, the on-premises deployment segment is expected to account for the largest share of the market in 2017, as large enterprises prefer to store and manage their vital digital assets in their own infrastructure.
Media and entertainment segment to account for the largest share of the market in 2017
In 2017, the media and entertainment segment is expected to account for the largest share of the market. This can be attributed to the fact that media and entertainment industries deals with plethora of digital assets to drive their business. Managing these bulk of digital assets is a major challenge and requires dedicated advanced solutions such as DAM. This factors, create good opportunities for DAM solutions and services in the media and entertainment industries. However, the consumer goods and retail segment is expected to grow at the highest CAGR during the forecast period. The tremendous rise of e-commerce industries in recent years has been a major factor expected to aid DAM solutions and services.
In 2017, North America to account for the largest share of the market
North America is expected to hold the largest market share and dominate the DAM market from 2017 to 2022, due to the presence of large numbers of DAM vendors in the region. The region also has a high concentration of media and entertainment industries that largely contribute to the adoption of DAM solutions and services.
The major solution and service providers in the Digital Asset Management Market include ADAM Software NV (Belgium), Adobe Systems Incorporated (U.S.), OpenText Corporation (Canada), Celum (Austria), MediaBeacon (U.S.), Canto, Inc. (U.S.), Widen (U.S.), WebDAM (U.S.), Bynder (Netherlands), NorthPlains (Canada), MediaValet, Inc. (Canada), and Cognizant (U.S.).
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