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2017
Digital Asset Management Market

Digital Asset Management Market

by Type (Solution and Service) and Application (Sales, Marketing, IT, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Update Available On-Demand

Report Code: A02000
Pages: 120
Jun 2017 | 14086 Views
Author(s) : Sumeet P
Tables: 50
Charts: 59
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COVID-19

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Digital Asset Management Market Statistics: 2023

Digital asset management market size was valued at $1,928 million in 2016, and is projected to reach at $5,287 million by 2023, growing at a CAGR of 13.7% from 2017 to 2023. The market incorporates end-user industries expenditure on digital asset management solutions and services to store, organize, access, and share their rich media content. The service segment includes end user expenditure on consulting, implementation, and training & support. Some of the popular digital asset management solutions are asset analytics, asset and metadata archiving, brand portals, creative tool integration, lifecycle & rights management, video management, and web content management integration.

Growth in demand for collaborative digital workflow especially for sales and marketing activities has encouraged end users to deploy enhanced digital asset management solutions and services. Moreover, increase in need for meeting government mandates to maintain transparency of operations, improvement in digital content, and reduction of operational costs are some of the major factors that are anticipated to fuel the digital asset management market growth during the forecast period. However, high initial investment and lack of skilled workforce are estimated to limit end users to invest on digital asset management solutions and services.

The report includes the study of the digital asset management market that focus on various growth prospects and restraints, based on the regional analysis. The study highlights Porters Five Forces analysis for the market that comprises the impact of suppliers, competitors, new entrants, substitutes, and buyers.

digital-asset-management-market-1573480481

 

The key players operating in the digital asset management industry include ADAM Software NV, Adobe Systems Incorporated, Cognizant Technology Solutions Corp, EMC Corporation, Hewlett-Packard (HP), IBM Corporation, Northplains Systems, Opentext Corporation, Oracle Corporation, and Widen Enterprises.

Segment Overview

The global digital asset management market is segmented based on type, application, and geography. Based on the type, it is bifurcated into solution and service segments. By application, it is divided into sales, marketing, IT, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The following graph signifies the growth potential of the digital asset management market by application. The marketing segment is estimated to grow at the highest CAGR of around 15%, owing to the increase in adoption of advanced digital asset management solutions and services.

digital-asset-management-market-key-investment-pockets

 

Top Impacting Factors

Collaborative Workflow

At present, collaborative workflow has high impact on the digital asset management industry growth due to increase in need for real-time and shared operations. Moreover, in the near future, growth in adoption of digital asset management solutions is anticipated to further increase the impact of the factor during the digital asset management market growth. Thus, the overall impact of this factor is estimated to remain high throughout the forecast period.

Regulatory Compliance

At present, some specific group of industries, such as small and medium enterprises (SMEs) lack in adoption of digital asset management solutions and services due to high cost. Introduction of government acts and increase in competition are anticipated to encourage industries to invest into DAM solutions and services. Thus, the impact of this factor is anticipated to increase by the end of 2023.

digital-asset-management-market-top-impacting-factors

 

High Initial Investment

At present, high-price associated with deployment of DAM solutions limit the end user investment. However, to stay ahead in the competition and meet the regulatory compliance, organizations are estimated to opt for digital asset management solutions. Thus, in the near future impact of this factor is expected to show a decline.

Lack of Skilled Workforce

At present, the impact of this factor on the digital asset management market is high due to unavailability of skilled workforce, which limits the end users to invest into digital solutions and services. However, by 2023, the impact is estimated to decline due to availability of skilled workforce.

Impact of covid-19 on Digital Asset Management Market:

  • The novel coronavirus has led to an increase in the adoption of remote working system which hiked the demand for digital management assets as well.
  • The demand for collaborative digital workflow, on the other hand, has significantly increased during remote working culture.
  • The rise in digital workflow all across the world and growth in digital content has further resulted in increased demand for digital asset management.

Key Benefits for Digital Asset Management Market:

  • The study provides an in-depth analysis of the digital asset management industry, with current and future trends to elucidate the imminent investment pockets.
  • Information related to key drivers, restraints, and opportunities and their impact analysis is provided.
  • Porters Five Forces analysis illustrates the potency of buyers and suppliers participating in the digital asset management market.
  • The quantitative digital asset management market analysis from 2016 to 2023 is provided to elaborate the market potential.

Digital Asset Management Market Report Highlights

Aspects Details
By Type
  • Solution
  • Service
By Application
  • Sales
  • Marketing
  • Others
By Region
  • North America 
  • Europe 
  • Asia-Pacific 
  • LAMEA 
Key Market Players ADAM SOFTWARE NV, ADOBE SYSTEMS INC., COGNIZANT TECHNOLOGY SOLUTIONS CORP., DELL EMC (RSA), HEWLETT PACKARD ENTERPRISE (HPE), IBM CORPORATION, ORACLE CORPORATION, OPENTEXT CORP., NORTH PLAINS SYSTEMS CORP., WIDEN ENTERPRISES, INC.
 

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The global digital asset management market is anticipated to witness considerable growth, especially in Asia-Pacific and LAMEA. This is attributed to the rise in awareness among end-user industries about the benefits of adoption of digital asset management solutions and services and increase in digital expenditure by end-user organizations.

The digital asset management solutions enable user to manage digital asset efficiently and ensure that appropriate content is delivered to the right person. Furthermore, these solutions help creative and marketing teams to streamline their tasks and operations by providing a common place to store, share, and track the rich media content.

In the past few years, digitization among end-user verticals have increased at a tremendous rate. To sustain the competition organizations are anticipated to invest on advance digital asset management solutions and services.
Some key players-operating in the digital asset management market-focus on enhancing their expertise in digital content management by acquiring well-established, start-ups, and local firms. For instance, in 2014, Oracle Corporation acquired Front Porch Digital-a content storage management solution provider-to strengthen its capabilities in rich media content management market.

The key players-operating in the digital asset management industry-are anticipated to develop industry-specific solutions to expand their presence among end-user industries. Moreover, cloud-based digital asset management solutions equipped with advanced integration features are anticipated to create significant growth opportunities for prominent players.

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