Market Snapshot:
Digital asset management (DAM) is termed as the business processes for organising, storing and retrieving the rich media and managing the digital rights and permissions related to it. In short DAM is a set of various database records, while each database record contains metadata which explains the name of the file, its format and information about its content and usage. Also digital asset management software can be used to create and manage the database and help the company to store rich media in a cost-effective mannerThe research analyst at AMA estimates Digital Asset Management market to grow at a compounded annual growth rate of 18.4%
Segment Analysis
AMA Research have segmented the market of Global Digital Asset Management market by Type, Application and Region. On the basis of Type, Cloud are dominating the market in the year 2020
On the basis of geography, the market of Digital Asset Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
In industries such as retail, media and entertainment, military, consumer goods, and transportation, scope of DAM usage is increasing
Market Drivers
Increased expenses on digital marketing by industries, Rapid increase in the Digital Content, Evolution in the internet services and Emerging of IoT is likely to benefit the growth in DAM solution
Opportunities
Solutions like SaaS DAM is gaining demand in market and Rise of digital assets across various industry verticals
Restraints
- Dependency in traditional approaches and lack of awareness related to the market
- Concern related to the security and data privacy
- Issues related to the bandwidth and connectivity
In addition to the aforementioned factor, Increased expenses on digital marketing by industries
is expected to propel the growth of the market over the forecast period.
The key Players profiled in the study are ADAM Software (Belgium), Canto Inc. (United States), CELUM GmbH (Austria), Cognizant Technology Solutions Corp (United States), Oracle Corporation (United States), Hewlett-Packard Company (United States), OpenText Corporation (Canada), QBank (Sweden), North Plains (Canada) and WebDAM Inc. (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.