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
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $3.69 BN |
|
Projected Year Value (2028) |
US $10.19 BN |
|
CAGR (2021 - 2028) |
15.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
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
Table of Contents
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.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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