The market size for global digital asset management is anticipated to reach USD 11 billion by 2028. A surge in adoption for collaborative digital workflow particularly for marketing & sales activities has fortified end-users to implement enhanced digital asset management services and solutions.
Dallas, United States - October 30, 2020 /MarketersMedia/ —
The global digital asset management (DAM) market size is projected to reach USD 11 billion by 2028. The demand for the Digital Asset Management Market globally to witness considerable growth in the coming five years. Since users engaged on social media are surging, digital marketing has advanced as a crucial platform for organizations to market their services and products to a huge target audience within a small period. Additionally, the integration of social media platforms with advanced analytical tools has enabled businesses to recognize their consumer behavior patterns and deliver the improved customer value proposition.
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The global digital assets management market is primarily driven by factors such as increase in demand and use of internet and technology which is a key factor for the global digital assets management market. In addition, in the recent years, there has been a rapid adoption of internet in the transactions which is thereby contributing to the growth of the digital assets management market. With the marketing advantages offered by social media, businesses are willing to invest profoundly in digital marketing activities to endorse their brand, thus leading to substantial growth in digital content, including high-quality images, high-definition videos, and audios.
Moreover, the increase in the adoption of digital asset management has contributed significantly to the growth of the market in the coming years. Moreover, several companies and organizations are adopting the collaboration and acquisition strategy to enhance their assets, which is driving the demand for the global digital assets management market. In addition, there are high returns on investments in the global digital assets market, which is one of the major factor which is likely to boost the demand for the global digital assets management.
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In addition, there has been a rapid technological development which boosts the demand for the market. Globalization and digital advances are also some factors which contributes to the growth of the market in the estimated forecast period. Moreover, increase in the connection of internet and intranet connection is significantly contributing to the growth of digital assets management market.
The global digital assets management market is segmented into several factors such as type of devices and deployment, end user, application in the digital assets management and geography. On the basis of type of deployment offered the market is further bifurcated into cloud and on-premises. On the types of application, it is segmented as enterprise, marketing and broadcasting and publications among others. On the basis of end user, it is fragmented as small organizations and large organizations.
The global digital asset management market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the digital asset management applications, owing to an outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the digital asset management market in North America.
The major players of the global digital asset management market are Adam Software NV, OpenText Corporation, Celum, Adobe Systems Incorporated, MediaBeacon, Canto, WebDAM, Widen Bynder, NorthPlains, MediaValet, Cognizant, and more. The digital asset management market is fragmented with the existence of well-known global and domestic players across the globe.
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Segment Overview of Global Digital Asset Management Market
Component Overview, 2018-2028 (USD Billion)
Organization Size Overview, 2018-2028 (USD Billion)
• Large Enterprises
Application Overview, 2018-2028 (USD Billion)
• Graphics & Designing
End-User Overview, 2018-2028 (USD Billion)
• Media and Entertainment
Regional Overview, 2018-2028 (USD Million)
• North America
• Rest of Europe
• Asia Pacific
• Rest of Asia-Pacific
• Middle East and Africa
• South Africa
• Rest of Middle East and Africa
• South America
• Rest of South America
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Source URL: https://marketersmedia.com/digital-asset-management-market-analysis-by-industry-applications-current-trends-technology-forthcoming-developments-growth-organization-size-end-user-global-forecast-2025/88983544
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