Digital Asset Management Market - Growth, Trends, and Forecast (2020 - 2025)

The Digital Asset Management Market (henceforth, referred to as the market studied) was valued at USD 2541. 8 Million in 2019, and it is expected to reach USD 7756. 1 Million by 2025, registering a CAGR of 21.


New York, April 09, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Digital Asset Management Market - Growth, Trends, and Forecast (2020 - 2025)" -
23%, during the period of 2020-2025. Artificial Intelligence, including facial recognition, has been introduced to the world of DAM.

- A major driver for the adoption of digital asset management (DAM) solutions is the high return on investments. As a result, the spending by organizations for asset management is expected to increase, during the forecast period.
- Customer engagement is emerging as the most effective method of customer retention, and mobile phones are the foundation of this trend. The number of connected devices is increasing, globally. With solutions, like interactive store windows, digital signage, wearable devices, marketers are finding it difficult to create and deliver assets that offer consistent and compelling brand messages across the screens.
- The increasing recognition of digital assets across the world is creating opportunities for the growing number of professional investment institutions to enter the digital asset management market. However, these potential investors have limited access to suitable financial products for their investment consideration, while trading teams or digital asset managers find it difficult to get to the right investors for fundraising due to the lack of a formal broker-dealer structure in the digital asset space.
- On Aug 2019, UltrAlpha announced its digital asset management products. The company is seeking to build out its comprehensive product offering and service capabilities as an innovative digital asset management service platform through the strategic partnership with two industry top-tier asset managers, Algoz and Alpha Pro.

Key Market Trends
Cloud Deployment is Expected to Drive the Digital Asset Management Market

- Cloud Digital Asset Management(DAM) democratizes digital media management and delivery across an enterprise. Cloud DAM also promises to reduce the cost of operations and increase productivity while continuing to provide a single source of truth to maintain brand identity.
- Cloud DAM affects front-end experiences, as well. Bynder introduced its integration with Hootsuite Inc., a widely used social media management platform that also runs in the cloud. The integration connects Hootsuite dashboards with digital assets sourced from Bynder, enabling social media marketers to easily access creative content without the need to download, resize, and reupload individual files.
- With the increasing adoption of various technologies like Artificial Intelligence and Big Data Analytics, cloud-based DAMs are widely used. DAM is making use of Artificial Intelligence(AI) technology to scan content and create metadata tags. The AI use cases for DAM include optical character recognition, speech recognition and facial recognition.
- Various companies, such as Cognizant Technology Solutions, MediaBeacon, Bynder are into cloud-based digital asset management and helping the market to grow rapidly, as a majority of the end users are looking for cloud-based solutions.

Asia-Pacific to Witness the Fastest Growth Rate Over the Forecast Period

- India is considered a very demanding country to manage for the entertainment and media providers due to complexities related to the content, language, and other regional requirements. Owing to this, digital asset management was widely adopted to cater to such complexities.
- The increasing amount of digital data across China has enabled the focus of various industries towards predictive analytics. Optimization of asset maintenance to prevent failure of assets has been driving the demand for predictive asset analytics.
- Japan is the most ideal country in this region for digital asset management solutions, as 99.7% of industries fall under the small and medium enterprise segment, as reported by the Small and Medium Enterprise Agency of Japan. SMEs due to their budgetary requirements and low IT infrastructure have preferred low to medium cost solutions, like digital access management software over ERP solutions.
- Asia-Pacific region is becoming one of the fastest growing regions for the digital asset management industry. As global brands expand their reach into the Asia Pacific and increase their investments into visual content strategies, DAM is emerging as the solution to help them tackle common difficulties that arise when dealing with global teams, new expansion regions and an influx in content.

Competitive Landscape
The major players in the digital asset management market are Cognizant Technology Solutions Corp, Oracle Corporation, Hewlett-Packard Company, Oracle Corporation, Adobe Systems Incorporated, Dell Technologies, and IBM Corporation, among others. The market is consolidated, as it is dominated by these major players. Hence, market concentration is expected to be high.

- January 2020 - Adobe moved its Experience Manager Services to the cloud. This is to provide scalable and secure application for content management across the organizations.
- December 2019 - Celum GmbH announced CELUM Connect for Salesforce Sales Cloud. This would enable complete view of customers, meta data, speedy communication, and track of assets and revisions. This was developed by CGI Inc., an IT consulting, systems integration, outsourcing, and solutions company based out of Canada.

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