Propagation of digital content along with an increasing focus and spending on digital marketing drives the demand for the digital asset management market
The factors such as the expanding volumes and densities of digital assets along with the growing implementation of real-time consumer-driven approaches for digital marketing over traditional marketing to spur the industry growth. Additionally, the advancement of innovative products and delivery models are also expected to boost sales in the coming few years. Hence, the global digital asset management (DAM) market size is projected to reach USD 11 billion by 2028.
With the marketing advantages offered by social media, businesses are willing to invest profoundly in digital marketing activities to endorse their brand, thus leading to substantial growth in digital content, including high-quality images, high-definition videos, and audios. Cloud-enabled DAM providers that deliver cost-effective solutions also play a significant part in instigating the industry demand.
Based on the application segment, the market is sales, IT, marketing, distribution, and graphics & designing. The marketing segment is projected to observe significant growth since it holds an essential role in supporting salespeople with real-time access to sales assets. Marketing &Sales among the domain wherein the digital asset management solutions are being adopted meticulously as it supports in maintaining as well as enhancing the product brand image.
The global digital asset management market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global digital asset management market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the digital asset management applications, owing to an outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the digital asset management market in North America.
The major players of the global digital asset management market are Adam Software NV, OpenText Corporation, Celum, Adobe Systems Incorporated, MediaBeacon, Canto, WebDAM, Widen Bynder, NorthPlains, MediaValet, Cognizant, and more. The digital asset management market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Digital Asset Management Market
Component Overview, 2018-2028 (USD Billion)
Organization Size Overview, 2018-2028 (USD Billion)
- Large Enterprises
Application Overview, 2018-2028 (USD Billion)
- Graphics & Designing
End-User Overview, 2018-2028 (USD Billion)
- Media and Entertainment
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America