The global digital asset management market was 1.7 billion USD in 2016 and is forecasted to reach 5.64 billion USD by 2022 at an impressive CAGR of 22.13% for the period.
Digital asset management (DAM)is an enterprise solution for storing, organizing, retrieving, sharing, and backing up digital assets such as photos, music, videos, animations, podcasts and other multimedia content, and managing their rights and permissions. DAM enables usage tracking, creative workflow automation, archival, backups, and more.
Implementation of DAM will enable organizations to automate their services, improve product launch cycles and distribution channels, and enhance their brand value. Digital asset management, although in a nascent stage right now, has immense potential to grow due to enhancement in technology and innovation.
The DAM market is dominated by North America (U.S. and Canada), due to large number of vendors present and the increasing digital transformation occurring in the region. The other dominant geographical regions are Europe, Asia Pacific, Latin America, and Middle East and Africa.
Emerging economies in the Asia Pacific region such as India and China are forecasted to lead the market in terms of growth rate in the near future due to growing demand for digitization. India being the hub of consultancy and outsourced projects, will realize an immense scope of usage of DAM solutions.
The media and entertainment industry accounts for the largest market share in DAM, in 2016, due to the enormous amount of digital data produced. The rise of e-commerce sector is also expected to aid the DAM industry.
Top market drivers for digital asset management:
Shift to SaaS from on premise software.
Increased need for management of rich media content.
Immense scope of DAM usage across industries such as retail, media and entertainment, military, consumer goods, and transportation.
High demand of dynamic documents
Shifting to non-linear digital workflows
Multiple content delivery channels
The constraints faced by digital asset management industry are:
Security and data privacy concerns
Bandwidth and connectivity issues
Availability of open-source digital asset management software
Large volume of digital content created every minute
Retrieval of relevant digital assets
Key Topics Covered:
1. Research Methodology
2. Executive Summary
3. Market Overview
Industry Value Chain Analysis
Porter's 5 Forces
4. Global digital asset management market Segmentation, Forecasts and Trends - By Revenue
5. By Solution
Asset & Metadata Archiving
Web Content Management
Creative Tool Integration
Lifecycle & Rights Management
6. By Deployment Model
7. By Application
Photography & Graphic Designing
8. By Industry
Media and Entertainment
9. By Region
10. Vendor Market Share Analysis
11. Company Profiles
Cognizant Technology Solutions
Amazon Web Services
Adam Software NV
12. Industry Structure
Industry M&As, Consolidations
Global Digital Asset Management market - Road Ahead