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Digital Asset Management Market

Digital Asset Management Market Forecasts to 2028 – Global Analysis By Business Function (Sales and Marketing, Human Resource (HR)), Deployment Type (Cloud, On-Premises), and By Geography

4.3 (78 reviews)
Published: May 2022 ID: SMRC21417
4.3 (78 reviews)
Published: May 2022 ID: SMRC21417

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Digital Asset Management Market is accounted for $3.69 billion in 2021 and is expected to reach $10.19 billion by 2028 growing at a CAGR of 15.6% during the forecast period. Digital asset management helps companies to develop solutions, wherein they can retrieve their digital assets faster and lay a foundation for targeted access across the teams and channels.

Market Dynamics:

Driver:

High adoption of digital marketing


Increasing use of social media among the population, digital marketing has evolved as a very important platform for enterprises to promote their products and services to a huge target audience in a short span. Implementation of analytical tools along with social media platforms has facilitated enterprises to recognize their customer behavior patterns and offer better customer value propositions. Thus, enterprises are likely to adopt the DAM solution, which would allow them to streamline digital assets, surface relevant metadata, secure assets, and also transform digital content into their latest forms.

Restraint:

High costs


The cost associated with primary implementation and lifetime license costs for managing digital assets cannot be ignored. With the increase in the number of users per account and storage capacity, the overall cost of DAM license and implementation also increases. Moreover, with the problem over the pricing of support services, digital asset management constraints, and other minute capabilities, many SMEs are doubtful about implementing DAM solutions.

Opportunity:

The emergence of artificial intelligence to automate processes


While choosing DAM solutions, companies look for AI and ML capabilities. AI-based DAM solutions assist companies to automate image tagging i.e., the assignment of keywords or metadata to digital assets based on what they contain. This automated tagging enables quick identification, segmentation, and retrieval of digital assets. AI also helps DAM solutions extract metadata from the digital assets, to perform forensic analysis and assess the compliant nature of digital assets, which ensure that the users are not using any content subjected to copyrights.

Threat:

Dependence on traditional approaches


Many organizations fix to conventional and time-consuming methods majorly owing to budget constraints to adopting advanced technologies and lack of awareness. Additionally, the lack of training and capabilities to manage these advanced solutions coupled with resistance to changes is acting as a threat that restricts employees from adopting the DAM solution.

The human resource (HR) segment is expected to be the largest during the forecast period

The human resource (HR) segment is estimated to have a lucrative growth owing to the rising need among HR teams to make more efficient the management of employee-related documents and photos along with ensuring enrichment and distribution of recruitment-related media assets.

The small and medium-sized enterprises (SMEs) segment is expected to have the highest CAGR during the forecast period

The small and medium-sized enterprises (SMEs) segment is anticipated to witness the fastest CAGR growth during the forecast period as small and medium-sized enterprises face greater resource crunch than larger enterprises and need better methods to solve the complexities for better cost optimization of their business processes.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to the strong economic landscape, early adoption of advanced technologies, and high digital adoption at workplaces to improve business processes.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to high investment interest in AI and other technologies by MSMEs to speed up digital transformation.

Key players in the market

Some of the key players profiled in the Digital Asset Management Market include Cognizant, Aprimo, Widen, CELUM, Sitecore, OpenText, Nuxeo, Censhare, MediaValet, Digizuite, Cloudinary, MediaBeacon, Northplains, Canto, Bynder, Wedia, and Adobe.   
Key Developments:

In Nov 2021, Adobe launched AEM Assets Part 2, which features DAM implementation best practices in use. Adobe’s professional services teams help customers architect, develop, and implement digital marketing solutions every day.

In May 2021, Bynder launched the SAP Commerce Cloud Connector to enable brands to deliver relevant and timely product media to power engaging and personalized e-commerce experiences. The connector between Bynder’s DAM and SAP Cloud Commerce allows marketers to make on-brand, approved web and product assets—in the right size and format—available for use without leaving SAP Commerce Cloud.
 
Business Functions Covered:
• Sales and Marketing
• Information Technology (IT)
• Human Resource (HR)
• Broadcast and Publishing
• Other Business Functions
 
Organization Sizes Covered:

• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)
 
Deployment Types Covered:
• Cloud
• On-Premises
 
Components Covered:
• Solution
• Services
 
End Users Covered:
• Travel and Hospitality
• Retail and eCommerce
• Media and Entertainment
• Manufacturing
• IT and Telecom
• Healthcare and Life Sciences
• Government and Public Sector
• Banking, Financial Services, And Insurance (BFSI)
• Automotive
• Other End Users
 
Types Covered:
• Production Asset Management
• Library Asset Management
• Brand Asset Management
 
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

1 Executive Summary             
              
2 Preface             

 2.1 Abstract            
 2.2 Stake Holders           
 2.3 Research Scope           
 2.4 Research Methodology          
  2.4.1 Data Mining          
  2.4.2 Data Analysis          
  2.4.3 Data Validation          
  2.4.4 Research Approach          
 2.5 Research Sources           
  2.5.1 Primary Research Sources         
  2.5.2 Secondary Research Sources         
  2.5.3 Assumptions          
              
3 Market Trend Analysis            
 3.1 Introduction           
 3.2 Drivers            
 3.3 Restraints           
 3.4 Opportunities           
 3.5 Threats            
 3.6 End User Analysis           
 3.7 Emerging Markets           
 3.8 Impact of Covid-19           
               
4 Porters Five Force Analysis           
 4.1 Bargaining power of suppliers          
 4.2 Bargaining power of buyers          
 4.3 Threat of substitutes          
 4.4 Threat of new entrants          
 4.5 Competitive rivalry           
               
5 Global Digital Asset Management Market, By Business Function       
 5.1 Introduction           
 5.2 Sales and Marketing          
 5.3 Information Technology (IT)          
 5.4 Human Resource (HR)          
 5.5 Broadcast and Publishing          
 5.6 Other Business Functions          
  5.6.1 Website Management         
  5.6.2 Photography, Graphics & Designing        
  5.6.3 Enterprise          
  5.6.4 Distribution          
  5.6.5 Creative Operations         
               
6 Global Digital Asset Management Market, By Organization Size       
 6.1 Introduction           
 6.2 Large Enterprises           
 6.3 Small and Medium-sized Enterprises (SMEs)        
              
7 Global Digital Asset Management Market, By Deployment Type       
 7.1 Introduction           
 7.2 Cloud            
 7.3 On-Premises           
              
8 Global Digital Asset Management Market, By Component        
 8.1 Introduction           
 8.2 Solution            
  8.2.1 Asset and Metadata Archivin         
  8.2.2 Web Content Integration         
  8.2.3 Video Management          
  8.2.4 Lifecycle and Rights Management        
  8.2.5 Creative Tool Integration         
  8.2.6 Brand Portals          
  8.2.7 Asset Analytics          
 8.3 Services            
  8.3.1 Training, Support, and Maintenance        
  8.3.2 Integration and Implementation        
  8.3.3 Consulting          
              
9 Global Digital Asset Management Market, By End User        
 9.1 Introduction           
 9.2 Travel and Hospitality          
 9.3 Retail and eCommerce          
 9.4 Media and Entertainment          
 9.5 Manufacturing           
 9.6 IT and Telecom           
 9.7 Healthcare and Life Sciences          
 9.8 Government and Public Sector          
 9.9 Banking, Financial Services, And Insurance (BFSI)        
 9.10 Automotive            
 9.11 Other End Users            
  9.11.1 Real Estate and Construction         
  9.11.2 Energy and Utilities           
  9.11.3 Education          
  9.11.4 Consumer Goods           
              
10 Global Digital Asset Management Market, By Type         
 10.1 Introduction           
 10.2 Production Asset Management         
 10.3 Library Asset Management           
 10.4 Brand Asset Management          
              
11 Global Digital Asset Management Market, By Geography        
 11.1 Introduction           
 11.2 North America           
  11.2.1 US           
  11.2.2 Canada           
  11.2.3 Mexico           
 11.3 Europe            
  11.3.1 Germany           
  11.3.2 UK           
  11.3.3 Italy           
  11.3.4 France           
  11.3.5 Spain           
  11.3.6 Rest of Europe          
 11.4 Asia Pacific           
  11.4.1 Japan           
  11.4.2 China           
  11.4.3 India           
  11.4.4 Australia           
  11.4.5 New Zealand          
  11.4.6 South Korea          
  11.4.7 Rest of Asia Pacific          
 11.5 South America           
  11.5.1 Argentina           
  11.5.2 Brazil           
  11.5.3 Chile           
  11.5.4 Rest of South America         
 11.6 Middle East & Africa          
  11.6.1 Saudi Arabia          
  11.6.2 UAE           
  11.6.3 Qatar           
  11.6.4 South Africa           
  11.6.5 Rest of Middle East & Africa         
              
12 Key Developments            
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 12.2 Acquisitions & Mergers          
 12.3 New Product Launch          
 12.4 Expansions           
 12.5 Other Key Strategies          
              
13 Company Profiling            
 13.1 Cognizant           
 13.2 Aprimo             
 13.3 Widen             
 13.4 CELUM             
 13.5 Sitecore            
 13.6 OpenText            
 13.7 Nuxeo             
 13.8 Censhare            
 13.9 MediaValet            
 13.10 Digizuite             
 13.11 Cloudinary            
 13.12 MediaBeacon           
 13.13 Northplains            
 13.14 Canto             
 13.15 Bynder             
 13.16 Wedia             
 13.17 Adobe            


List of Tables             
1 Global Digital Asset Management Market Outlook, By Region (2020-2028) ($MN)      
2 Global Digital Asset Management Market Outlook, By Business Function (2020-2028) ($MN)     
3 Global Digital Asset Management Market Outlook, By Sales and Marketing (2020-2028) ($MN)     
4 Global Digital Asset Management Market Outlook, By Information Technology (IT) (2020-2028) ($MN)    
5 Global Digital Asset Management Market Outlook, By Human Resource (HR) (2020-2028) ($MN)    
6 Global Digital Asset Management Market Outlook, By Broadcast and Publishing (2020-2028) ($MN)    
7 Global Digital Asset Management Market Outlook, By Other Business Functions (2020-2028) ($MN)    
8 Global Digital Asset Management Market Outlook, By Website Management (2020-2028) ($MN)    
9 Global Digital Asset Management Market Outlook, By Photography, Graphics & Designing (2020-2028) ($MN)   
10 Global Digital Asset Management Market Outlook, By Enterprise (2020-2028) ($MN)     
11 Global Digital Asset Management Market Outlook, By Distribution (2020-2028) ($MN)     
12 Global Digital Asset Management Market Outlook, By Creative Operations (2020-2028) ($MN)     
13 Global Digital Asset Management Market Outlook, By Organization Size (2020-2028) ($MN)     
14 Global Digital Asset Management Market Outlook, By Large Enterprises (2020-2028) ($MN)     
15 Global Digital Asset Management Market Outlook, By Small and Medium-sized Enterprises (SMEs) (2020-2028) ($MN)  
16 Global Digital Asset Management Market Outlook, By Deployment Type (2020-2028) ($MN)     
17 Global Digital Asset Management Market Outlook, By Cloud (2020-2028) ($MN)      
18 Global Digital Asset Management Market Outlook, By On-Premises (2020-2028) ($MN)     
19 Global Digital Asset Management Market Outlook, By Component (2020-2028) ($MN)     
20 Global Digital Asset Management Market Outlook, By Solution (2020-2028) ($MN)      
21 Global Digital Asset Management Market Outlook, By Asset and Metadata Archivin (2020-2028) ($MN)    
22 Global Digital Asset Management Market Outlook, By Web Content Integration (2020-2028) ($MN)    
23 Global Digital Asset Management Market Outlook, By Video Management (2020-2028) ($MN)     
24 Global Digital Asset Management Market Outlook, By Lifecycle and Rights Management (2020-2028) ($MN)   
25 Global Digital Asset Management Market Outlook, By Creative Tool Integration (2020-2028) ($MN)    
26 Global Digital Asset Management Market Outlook, By Brand Portals (2020-2028) ($MN)     
27 Global Digital Asset Management Market Outlook, By Asset Analytics (2020-2028) ($MN)     
28 Global Digital Asset Management Market Outlook, By Services (2020-2028) ($MN)      
29 Global Digital Asset Management Market Outlook, By Training, Support, and Maintenance (2020-2028) ($MN)   
30 Global Digital Asset Management Market Outlook, By Integration and Implementation (2020-2028) ($MN)   
31 Global Digital Asset Management Market Outlook, By Consulting (2020-2028) ($MN)     
32 Global Digital Asset Management Market Outlook, By End User (2020-2028) ($MN)      
33 Global Digital Asset Management Market Outlook, By Travel and Hospitality (2020-2028) ($MN)    
34 Global Digital Asset Management Market Outlook, By Retail and eCommerce (2020-2028) ($MN)    
35 Global Digital Asset Management Market Outlook, By Media and Entertainment (2020-2028) ($MN)    
36 Global Digital Asset Management Market Outlook, By Manufacturing (2020-2028) ($MN)     
37 Global Digital Asset Management Market Outlook, By IT and Telecom (2020-2028) ($MN)     
38 Global Digital Asset Management Market Outlook, By Healthcare and Life Sciences (2020-2028) ($MN)    
39 Global Digital Asset Management Market Outlook, By Government and Public Sector (2020-2028) ($MN)    
40 Global Digital Asset Management Market Outlook, By Banking, Financial Services, And Insurance (BFSI) (2020-2028) ($MN)  
41 Global Digital Asset Management Market Outlook, By Automotive (2020-2028) ($MN)     
42 Global Digital Asset Management Market Outlook, By Other End Users (2020-2028) ($MN)     
43 Global Digital Asset Management Market Outlook, By Real Estate and Construction (2020-2028) ($MN)    
44 Global Digital Asset Management Market Outlook, By Energy and Utilities (2020-2028) ($MN)     
45 Global Digital Asset Management Market Outlook, By Education (2020-2028) ($MN)      
46 Global Digital Asset Management Market Outlook, By Consumer Goods (2020-2028) ($MN)      
47 Global Digital Asset Management Market Outlook, By Type (2020-2028) ($MN)      
48 Global Digital Asset Management Market Outlook, By Production Asset Management (2020-2028) ($MN)   
49 Global Digital Asset Management Market Outlook, By Library Asset Management (2020-2028) ($MN)    
50 Global Digital Asset Management Market Outlook, By Brand Asset Management (2020-2028) ($MN)    
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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