DUBLIN, Feb. 26, 2024 /PRNewswire/ — The “Digital Asset Management Market Report by Type, Component, Application, Deployment, Organization Size, End-Use Sector, and Region 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
The global digital asset management market size reached US$ 6.6 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 26.3 Billion by 2032, exhibiting a growth rate (CAGR) of 16.56% during 2023-2032.
The digital asset management (DAM) market is thriving due to the exponential growth of digital content, globalization of businesses, the rise of remote work, and the crucial role DAM systems play in ensuring compliance, enhancing customer experiences, and providing a competitive edge.
Digital Asset Management Market Trends:
Explosion of digital content
In today’s digital age, the volume and diversity of digital assets, such as images, videos, and documents, have grown exponentially. This rise is primarily due to increased online activities across industries, including marketing, entertainment, and e-commerce. DAM systems address the pressing need to efficiently organize, store, and manage these assets.
They provide cataloguing, search, and retrieval capabilities, streamlining workflows and fostering collaboration. Moreover, DAM systems help businesses ensure brand consistency, adhere to copyright regulations, and enhance overall operational efficiency. Consequently, the burgeoning digital content landscape propels the adoption of DAM solutions across a wide array of sectors.
Globalization of business
The globalization of business is a transformative force reshaping the way companies operate and engage with markets worldwide. As organizations expand their reach to international markets, they encounter a multitude of challenges, one of which is the effective management of digital assets across borders and diverse time zones.
Digital asset management (DAM) systems play a pivotal role in ensuring the seamless flow of digital content. DAM systems provide a centralized and robust platform for the storage, organization, and distribution of digital assets. This centralization is especially critical when dealing with international operations. It ensures that digital assets are easily accessible to teams and partners across the globe.
Rise of remote work
The rise of remote work has become a defining feature of the modern workforce, accelerated by global events that have reshaped the way we work. In this new era of work, cloud-based digital asset management (DAM) solutions have taken on heightened significance.
Remote teams now operate from various locations, necessitating secure and convenient access to digital assets for seamless collaboration. DAM systems have emerged as indispensable tools in this evolving landscape of remote work. They offer the flexibility and accessibility needed for modern work environments, ensuring that teams can work efficiently, regardless of their physical locations.
Digital Asset Management Industry Segmentation:
The report provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, component, application, deployment, organization size, and end-use sector.
Brand asset management system accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the type. This includes brand asset management system, library asset management system, and production asset management system. According to the report, brand asset management system represented the largest segment.
Breakup by Component:
SolutionServicesConsultingSystem IntegrationSupport and Maintenance
Solution holds the largest share in the industry
A detailed breakup and analysis of the market based on the component have also been provided in the report. This includes solution and services (consulting, system integration, and support and maintenance). According to the report, solution accounted for the largest market share.
Breakup by Application:
Sales and MarketingBroadcast and PublishingOthers
Sales and marketing represents the leading market segment
The report has provided a detailed breakup and analysis of the market based on the application. This includes sales and marketing, broadcast and publishing, and others. According to the report, sales and marketing represented the largest segment.
Breakup by Deployment:
On-premisesCloud
On-premises exhibits a clear dominance in the market
A detailed breakup and analysis of the market based on the deployment have also been provided in the report. This includes on-premises and cloud. According to the report, on-premises accounted for the largest market share.
Breakup by Organization Size:
Small and Medium-sized EnterprisesLarge Enterprises
Large enterprises dominate the market
The report has provided a detailed breakup and analysis of the market based on the organization size. This includes small and medium-sized enterprises and large enterprises. According to the report, large enterprises represented the largest segment.
Breakup by End-Use Sector:
Media and EntertainmentBanking, Financial Services and Insurance (BFSI)RetailManufacturingHealthcare and Life SciencesEducationTravel and TourismOthers
Media and entertainment are the predominant market segment
A detailed breakup and analysis of the market based on the end-use sector have also been provided in the report. This includes media and entertainment, banking, financial services, and insurance (BFSI), retail, manufacturing, healthcare and life sciences, education, travel and tourism, and others. According to the report, media and entertainment accounted for the largest market share.
Breakup by Region:
North AmericaUnited StatesCanadaEuropeGermanyFranceUnited KingdomItalySpainRussiaOthersAsia PacificChinaJapanIndiaSouth KoreaAustraliaIndonesiaOthersLatin AmericaBrazilMexicoOthersMiddle East and Africa
North America leads the market, accounting for the largest digital asset management market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided.
Some of the key players in the market include:
Adam SoftwareCanto Inc.CelumCognizant Technology SolutionsIBM CorporationMediabeacon Inc.North Plains SystemsOpenText CorporationOracle CorporationQBankWebdam Inc.Widen Enterprises Inc.
For more information about this report visit https://www.researchandmarkets.com/r/rjlgat
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