Digital Asset Management Market - Trends Forecast Till 2028

Market Overview

The digital asset management market was valued at USD 2,962.2 million in 2020, and it is expected to reach a CAGR of 19.96% during the period of 2021-2028.

The deployment of digital asset management is helping companies to develop solutions, wherein they can retrieve their digital assets faster and lay a foundation for targeted access across the teams and channels.

Urbanization and increase in residential construction, growing trends of smart homes, increasing demand for air conditioners, and significant growth in number of data centres and their power density are some of the factors that have supported long-term expansion for Digital Asset Management Market.

The COVID-19, the transition to the cloud has increased and companies have started using DAM solutions for streamlining storage, management, enrichment, delivery, and analysis of digital assets, which has further bolstered the growth of the market. Although declined usage by Small and Medium-sized Enterprises (SMEs) due to their increased investments in other collaboration technologies, falling profits, and less allocation of Information Technology (IT) budgets has somewhat hindered the growth of the DAM market.

Regional Analysis

Asia-Pacific to Witness the Fastest Growth Rate Over the Forecast Period. India is considered a very demanding country to manage for 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.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Cognizant Technology Solutions Corp
• Oracle Corporation
• CELUM GmbH
• Adobe Systems Incorporated
• Cloudinary Ltd
• IBM Corporation

Recent Developments

• In September 2020, Nuxeo launched a next-generation Salesforce Connector to enhance the integration between the Nuxeo Platform and Salesforce Lightening and to facilitate better content management from within the Salesforce platform. The new features in the latest version of Salesforce Connector include simple drag-and-drop interface and embedded viewer for different digital content.
• In July 2020, Sitecore released version 3.4 of its Sitecore Content Hub solution with new and streamlined capabilities for improving workflows and third-party integrations. The company also improved Web-to-Print capabilities in the product. As a part of the enhancement, Sitecore improved its DAM tool with AI and video capabilities to enable automatic generation of metadata and transcripts for video as well as to support time and range-based annotation, cropping, and subtitles.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Digital Asset Management Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns 

Report Scope