New York, NY, Jan. 07, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “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.
Browse through 113 Tables & 48 Figures spread over 151 Pages and in-depth TOC on “Global Digital Asset Management Market Size & Share 2017: Industry Trends, Growth Analysis and Forecast, 2024”.
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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 booming digital marketing industry. Digital or online marketing involves massive digital content. For the management and authentication of huge digital content, DAM solutions are widely adopted. The U.S. and Canada have a huge media and entertainment industry penetration rate. Rapid transition of traditional advertising approaches to digital techniques for attracting huge customer base is likely to be observed in North America in the future.
DAM solutions are increasingly being adopted in the European region for handling massive amounts of digital information. European servers are observed to have a huge database for multiple languages in servers, for which DAM solutions are highly preferred. The European region has shown a positive response to SaaS solutions. Many renowned market players are introducing SaaS powered DAM solutions in Europe. In June 2018, one of the renowned DAM market players, Canto, introduced SaaS powered DAM solution in Europe.
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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 customers in developing Asian economies is primarily contributing to this regional market growth. Integrating DAM with e-commerce significantly helps consumers to purchase products from different social websites along with easy media access.
In Latin America, the market for digital asset management is mainly driven by the rise in the demand for ICT services. The region’s total ICT spending accounted nearly USD 274.2 billion in 2017. Thus, this rising penetration of ICT services in the region is likely to boost the digital asset management market in the years ahead.
Browse the full “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” Report at https://www.zionmarketresearch.com/report/digital-asset-management-market
The increase in the number of mobile devices, such as smartphones and tablets, in the Middle Eastern and African region is generating huge amounts of digital content. DAM solutions are significantly being opted in the UAE for efficiently managing digital files.
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
- Solutions
- Services
- Consulting
- System Integration
- Training and Support
Digital Asset Management Market: Deployment Analysis
- Cloud
- On-Premises
Digital Asset Management Market: Application Analysis
- Enterprise
- Marketing
- Broadcast and Publishing
- Others
Digital Asset Management Market: Vertical Analysis
- IT and Telecom
- BFSI
- Media and Entertainment
- Retail
- Healthcare
- Travel and Tourism
- Education
- Others
Digital Asset Management Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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