DUBLIN, Jan. 24, 2020 /PRNewswire/ -- The "Digital Asset Management Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global digital asset management market was valued at USD 1,663.78 million in 2019, and it is expected to reach a value of USD 9,255.05 billion by 2025, at a CAGR of 34.1%, during the forecast period, 2020-2025. Artificial Intelligence, including facial recognition, has been introduced to the world of DAM.
One of the primary drivers for the digital asset management industry is the increased adoption of broadband internet, which is increasing the demand for specialized solutions in each industry.
Customer engagement is emerging as the most effective method of customer retention, and mobile phones are the foundation of this trend. The number of connected devices is increasing, globally. With solutions, like interactive store windows, digital signage, and wearable devices, marketers are finding it difficult to create and deliver assets that offer consistent and compelling brand messages across the screens.
A major driver for the adoption of digital asset management (DAM) solutions is the high return on investments. As a result, the spending by organizations for asset management is expected to increase, during the forecast period.
Due to globalization and the increasing need to collaborate, there is a demand for better collaboration processes and access to digital assets. This has resulted in high demand for cloud-based digital asset management solutions.
The major challenges would be the lack of awareness in people and the higher cost of solutions, which may hinder the digital asset management market.
The major players in the digital asset management market are Cognizant Technology Solutions Corp, Oracle Corporation, Hewlett-Packard Company, Adobe Systems Incorporated, Dell Technologies, and IBM Corporation, among others. The market is consolidated, as it is dominated by these major players. Hence, market concentration is expected to be high.
Increasing Adoption of Cloud Solutions is Expected to Drive the Digital Asset Management Market
- With the increasing adoption of various technologies, like artificial intelligence and big data analytics, and cloud-based DAMs, are widely used. The AI use cases for DAM include optical character recognition, speech recognition, and facial recognition. This has propelled the demand for cloud applications, which is growing continuously.
- Various companies, such as Cognizant Technology Solutions, MediaBeacon, and Bynder are into cloud-based digital asset management and helping the market to grow rapidly, as a majority of the end users are looking for cloud-based solutions.
- There is an additional benefit by having cloud deployments for DAM, such as the digital media content can be made accessible to everyone and can be delivered easily across an enterprise. For instance, Bynder, which is a cloud DAM provider focused on sync and share services, while managing very large (multi-gigabyte and terabyte) files.
Asia-Pacific to Witness the Fastest Growth Rate Over the Forecast Period
- Digital asset management is expected to see a significant investment in Japan over the forecast period. Multiple private Japanese organizations are expected to offer digital asset management solutions to banks, as well as other government and private industries.
- Moreover, Japan has officially recognized Bitcoin and digital currencies as money, which has resulted in an increase in the number of digital assets in Japan, thereby, proportionately boosting the demand for digital asset management solutions in this region.
- Additionally, there is a huge demand for digital asset management in India from the entertainment and media providers, due to complexities related to the content, language, and other regional requirements. Owing to this, digital asset management was widely adopted to cater to such complexities.
Recent Industry Developments
- April 2019 - HPE announced a universal translator for the Intelligent Edge, with its investment in PubNub, HPE hopes to bring new Intelligent Edge capabilities to the enterprise. Working together, the company is projecting to expand PubNub's technology and value to a wider range of industries and applications.
- March 2019 - At Adobe Summit, Adobe and Microsoft revealed about Open Data Initiative (ODI) with the ambition of helping customers to create new connections across previously siloed data, more seamlessly garner intelligence, and ultimately better serve brands with an improved view of their customer interactions.
Key Topics Covered
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Industry Value Chain Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.2 Market Restraints
6. MARKET SEGMENTATION
6.1 Segmentation - By Type
6.1.1 Brand Asset Management System
6.1.2 Library Asset Management System
6.1.3 Production Asset Management System
6.2 Segmentation - By Solutions
6.2.1 Video Management
6.2.2 Creative Tool Integration
6.2.3 Asset Analytics
6.2.4 Web Content Integration
6.2.5 Brand Portals
6.2.6 Asset and Metadata Archiving
6.2.7 Lifecycle and Rights Management
6.3 Segmentation - By Deployment
6.4 Segmentation - By Organization Size
6.4.1 SMEs (Small and Medium Enterprises)
6.4.2 Large Enterprises
6.5 Segmentation - By End-user
6.5.1 Media and Entertainment
6.5.7 Other End-user
6.6 Segmentation - By Geography
6.6.1 North America
6.6.4 Rest of the World
7. KEY VENDOR PROFILES
7.1 Adobe Systems Incorporated
7.2 Canto Inc.
7.3 CELUM GmbH
7.4 Cognizant Technology Solutions Corp.
7.5 Oracle Corporation
7.6 Hewlett-Packard Enterprise Co.
7.7 OpenText Corporation
7.8 QBNK Holding AB
7.9 Aprimo LLC (ADAM Software)
7.10 Bynder (Webdam Inc.)
7.11 Dell Technologies
7.12 MediaBeacon Inc.
7.13 Widen Enterprises Inc.
7.14 IBM Corporation
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/r08s2o
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