Digital Asset Management Market to grow by USD 20851 million between 2024-2028
According to a research report “ Digital Asset Management Market” by Deployment (On-Premise, Cloud) End-user (Large enterprise, Small and medium enterprise) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 20851 million at a CAGR of about 28.36% during the forecast period. In today's business landscape, digital asset management (DAM) vendors are transitioning from on-premises to cloud-based solutions, catering to companies of all sizes. These cloud-based offerings provide user-friendly features such as drag-and-drop functionality, mobile accessibility, and intuitive services. By adopting these solutions, businesses can enjoy cost savings through affordable pricing models and swift deployment. A significant advantage of cloud-based DAM systems is their flexible deployment options, including Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS), enabling businesses to customize their infrastructure according to their unique requirements..
Browse market data tables, figures, and in-depth TOC on “Digital Asset Management Market” by Deployment (On-Premise, Cloud) End-user (Large enterprise, Small and medium enterprise) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028.
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By Deployment, the On-Premise segment is projected to dominate the market size in 2024.
In the global Digital Asset Management (DAM) market landscape of 2023, large enterprises held the leading position and are projected to continue their dominance throughout the forecast period. This trend is primarily attributed to the escalating need for productivity enhancement and resource management in various industries, including manufacturing, logistics, banking, and finance. The imperative for digitization in large enterprises, driven by operational efficiency, cost reduction, and regulatory compliance, further fuels the adoption of DAM solutions.
By End-user, Large enterprise segment is expected to hold the largest market size for the year 2024.
In the on-premises Digital Asset Management (DAM) market model, businesses assume ownership of the software installation and maintenance on their servers. This approach carries a significant investment for implementation and upgrades, with limited scalability options. However, it offers robust features such as workflow optimization, budgeting, and comprehensive reporting. Ideal for large, complex marketing operations, on-premises DAM solutions provide a unified structure for aligning marketing objectives and execution across various business units and product lines. The primary advantage lies in the complete control businesses have over their critical data.
North America is forecasted to hold the largest market size by region in 2024.
The Digital Asset Management (DAM) market is a significant business domain, facilitating organizations in effectively managing and distributing multimedia content. By implementing DAM solutions, companies can streamline workflows, enhance collaboration, and ensure brand consistency across various channels. These systems offer advanced functionalities, such as metadata management, version control, and access control, contributing to increased operational efficiency and cost savings.
The Digital Asset Management Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
In today's digital business landscape, managing print materials and product libraries effectively is crucial for companies of all sizes, from retailers to medium and large enterprises. Redundant content can lead to inefficiencies and increased costs in marketing campaigns, which is why digitalization of product videos, images, and other digital assets is essential. A digital library streamlines the stock replenishment and fulfillment process, enabling seamless online ordering and enhancing the instore experience. Profit margins are under pressure due to margin compression and inventory shrinkage. Digital Asset Management (DAM) software plays a vital role in mitigating these challenges by managing the content lifecycle in a centralized hub. This hub ensures the correct content location, reducing the risk of errors and miscommunication. Smartphones and digitalization have made access to this content easier than ever before, making DAM an indispensable tool for businesses in various departments.
Market Research Overview
In the dynamic business landscape of travel and hospitality, ecommerce and retail, healthcare, and large enterprises, the need for effective Digital Asset Management (DAM) solutions has become increasingly crucial. DAM systems enable small and medium businesses, as well as enterprise-level teams, to manage, organize, and store media assets such as videos, brand management materials, and documents in a centralized place. These solutions offer capabilities like unified management, scalable storage, improved collaboration, and smart search features. Emerging technologies like artificial intelligence (AI), machine learning, and chatbots facilitate real-time analysis, making helpful recommendations, and forecasting content needs. DAM systems also support cross-referencing assets, intelligent tagging, and metadata tagging for easy description and discovery. Enterprise software companies like Komainu Holdings and Temasek Holdings have recognized the potential of DAM systems and have invested in this space. The market for DAM solutions is evolving, with cloud-based DAM systems gaining popularity due to work-from-home policies and the digitalization trend. DAM systems cater to various industries, including media providers and entertainment, with regional requirements and content complexities. These solutions offer a competitive advantage by streamlining asset management, optimizing rich media, and enabling marketing and sales teams to distribute, retrieve, and manage digital content efficiently. DAM systems also support media production, graphics, animations, and media files, making them an essential tool for businesses undergoing digital transformation.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
