NEW
YORK, May 26, 2023 /PRNewswire/ -- As per
Facts and Factors study, the global digital asset management
(DAM) market size hit approximately $4.12
billion in 2022 and is projected to be about $9.12 billion by 2030 along with registering the
highest rate of growth of nearly 18.1% from 2023 to 2030.
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Digital Asset Management (DAM) Market: Overview
Digital asset management is both a business process and an
information management technology that creates a central system for
firms in organizing as well as accessing their assets such as media
& C. Furthermore, it can be referred to as software providing a
systematic approach for proficiently storing, managing, organizing,
retrieving, and distributing digital assets of an organization.
In addition to this, digital asset management offers a slew of
benefits to the end users. This includes minimal manufacturing
costs as well as effective resource allocation and organizational
efficiency. The surging need for consumer retention as well as the
necessity of increasing the conversion rate has resulted in the
growing preference for digital asset management in recent
years.
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Key Insights:
- As per the analysis shared by our research analyst, the global
digital asset management (DAM) market is projected to expand
annually at the annual growth rate of around 18.1% over the
forecast timespan (2023-2030)
- In terms of revenue, the global digital asset management (DAM)
market size was evaluated at nearly $4.12
billion in 2022 and is expected to reach $9.12 billion by 2030.
- The global digital asset management market is anticipated to
record massive growth over the forecast period owing to escalating
demand for collaborative online workflow in marketing and sales
activities.
- Based on deployment, the cloud segment is predicted to
contribute majorly towards the global market share over the
forecast timeline.
- In terms of organization size, the large enterprises segment is
projected to account for a major share of the global market in
2023-2030.
- On the basis of end-user, the media & entertainment segment
is set to register the highest CAGR over the period from 2023 to
2030.
- Region-wise, the Asia-Pacific Digital Asset Management (DAM)
market is projected to register the highest CAGR during the
assessment period.
Facts and Factors published the latest report
titled "Digital Asset Management (DAM) Market Size, Share,
Growth Analysis By Deployment (On-Premise and Cloud), By
Organization Size (Small & Medium Enterprises and Large
Enterprises), By End-User (BFSI, Manufacturing, Media &
Entertainment, Government, Healthcare, and Retail), and By Region -
Global and Regional Industry Insights, Overview, Comprehensive
Analysis, Trends, Statistical Research, Market Intelligence,
Historical Data and Forecast 2023 – 2030" into their research
database.
Industry Dynamics:
Global Digital Asset Management (DAM) Market: Growth
Drivers
- The rise in demand for online content will prop up market
growth across the globe.
Surging content digitization will expand the scope of growth of
the global digital asset management (DAM) market. Escalating demand
for collaborative online workflow in marketing and sales activities
will steer the growth of the global market. Massive need for
protecting digital assets along with the demand for preventing
copyright violations will boost global market trends. Escalating
the necessity of better digital assets having reduced operating
costs can embellish the expansion of the global market.
With the onset of new cloud storage technologies, firms are
inclined towards access to all forms of content from any location.
This will steer the growth of the digital asset management (DAM)
market across the globe. Rise in expenditure on online content
creation by various firms can prop up the scope of the growth of
the global market. Moreover, DAM tools help in saving time and
money for various businesses.
Global Digital Asset Management (DAM) Market:
Restraints
- Rising costs of digital assets along with less know-how of
its benefits can restrict the global industry growth.
The humungous price of digital asset management solutions and
lack of knowledge about the benefits derived due to the use of
these DAM solutions can create hurdles in the path of global
digital asset management (DAM) industry growth.
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Digital Asset Management (DAM) Market: Opportunities
- Rise in the process automation and the onset of new
technologies such as IoT will open new growth opportunities for the
market globally.
A rise in the number of digital assets with surging automation
and the use of connected devices will open new growth opportunities
for the global digital asset management (DAM) market. Rise in
penetration of digital asset management tools in the food &
beverages sector will further help the market explore new
dimensions of growth globally.
Digital Asset Management (DAM) Market: Challenges
- The rise in the number of organizations not adhering to the
basic security norms can be a big challenge for the global
industry.
Managing digital assets is one of the critical aspects in a
secured environment and this can pose a big challenge to the global
digital asset management (DAM) industry growth in the next couple
of years. Apart from this, a large number of firms are not
complying with the basic security protocols and this can slow down
the growth of the global industry.
Global Digital Asset Management (DAM) Market:
Segmentation
- The global digital asset management (DAM) market is sectored
into deployment, organization size, end-user, and region.
In terms of deployment, the global digital asset management
(DAM) market is sectored into on-premise and cloud segments.
Furthermore, the cloud segment, which accounted for more than 40%
of the global market share in 2022, is set to maintain its
segmental dominance in the forecasting timeline. The segmental
surge in the coming eight years can be a result of massive demand
for SaaS systems for smartphones along with its affordability.
Moreover, the cloud addresses the business requirement of
organizations of all sizes and hence firms prefer the cloud over
on-premise tools. Moreover, it offers robust security to the users
and can be accessed from remote locations.
Based on the organization size, the digital asset management
(DAM) industry across the globe is divided into small & medium
enterprises and large enterprises segments. Moreover, the large
enterprises' segment, which accumulated nearly 40% of the global
industry share in 2022, is slated to dominate the global industry
expansion even in the forecasting years. The growth of the segment
in the coming years can be due to the large-scale use of digital
asset management tools in large enterprises.
On the basis of end-user, the global digital asset management
(DAM) market is divided into BFSI, manufacturing, healthcare, media
& entertainment, government, and retail segments. Moreover, the
media & entertainment segment, which accounted for a major
share of the global market in 2022, is predicted to register the
highest CAGR in the ensuing years. The segmental expansion over the
forecast timespan can be subject to a rise in the use of online
content along with huge demand for digital content-based tools in
the media & entertainment segment.
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List of Key Players in Digital Asset Management (DAM)
Market:
- Adobe Inc.
- OpenText Corporation
- Cognizant
- Aprimo
- Bynder
- Sitecore
- Widen Enterprises Inc.
- MediaBeacon Inc.
- CELUM
- Nuxeo
- Frontify
- Hyland Software.
Key questions answered in this report:
- What are the growth rate forecast and market size for Digital
Asset Management (DAM) Market?
- What are the key driving factors propelling the Digital Asset
Management (DAM) Market forward?
- What are the most important companies in the Digital Asset
Management (DAM) Market Industry?
- What segments does the Digital Asset Management (DAM) Market
cover?
- How can I receive a free copy of the Digital Asset Management
(DAM) Market sample report and company profiles?
Report Scope:
Report
Attribute
|
Details
|
Market size value in
2021
|
USD 4.12
Billion
|
Revenue forecast in
2028
|
USD 9.12
Billion
|
Growth
Rate
|
CAGR of almost 18.1%
2023-2030
|
Base
Year
|
2022
|
Historic
Years
|
2016 –
2021
|
Forecast
Years
|
2023-2030
|
Segments
Covered
|
By Deployment,
Organization Size, End-User, and Region
|
Forecast
Units
|
Value (USD Billion),
and Volume (Units)
|
Quantitative
Units
|
Revenue in USD
million/billion and CAGR from 2023 to 2028
|
Regions
Covered
|
North America, Europe,
Asia Pacific, Latin America, and Middle East & Africa, and Rest
of World
|
Countries
Covered
|
U.S., Canada, Mexico,
U.K., Germany, France, Italy, Spain, China, India, Japan, South
Korea, Brazil, Argentina, GCC Countries, and South Africa, among
others
|
Companies
Covered
|
Adobe Inc., OpenText
Corporation, Cognizant, Aprimo, Bynder, Sitecore, Widen Enterprises
Inc., MediaBeacon Inc., CELUM, Nuxeo, Frontify, Hyland Software,
and others.
|
Report
Coverage
|
Market growth drivers,
restraints, opportunities, Porter's five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, market
attractiveness analysis by segments and region, company market
share analysis, and COVID-19 impact analysis.
|
Customization
Scope
|
Avail of customized
purchase options to meet your exact research needs.
https://www.fnfresearch.com/customization/digital-asset-management-dam-market
|
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Regional Dominance:
- Asia-Pacific Digital Asset Management (DAM) market to
register the highest CAGR over the forecast period.
Asia-Pacific, which accounted
for more than 66% of the global digital asset management (DAM)
market revenue in 2022, is anticipated to record the highest CAGR
during the assessment timeline. The regional market expansion over
2023-2030 can be due to the complicatedness of content as well as
language barriers and other regional needs. Surge in investments in
producing digital content has paved the way for massive growth in
the global market.
Furthermore, the North American digital asset management (DAM)
industry is set to witness mammoth growth in the forecasting years.
The factors that are likely to determine the growth of the regional
market include the presence of key players such as Oracle and
OpenText along with surging demand for data analytics in the
region.
Global Digital Asset Management (DAM) Market is segmented as
follows:
Digital Asset Management (DAM) Market: By Deployment Outlook
(2023-2030)
Digital Asset Management (DAM) Market: By Organization Size
Outlook (2023-2030)
- Small & Medium Enterprises
- Large Enterprises
Digital Asset Management (DAM) Market: By End-User Outlook
(2023-2030)
- BFSI
- Manufacturing
- Media & Entertainment
- Government
- Healthcare
- Retail
Digital Asset Management (DAM) Market: By Region Outlook
(2023-2030)
North America
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East &
Africa
- GCC
- South Africa
- Rest of Middle East &
Africa
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