Global Digital Asset Management (DAM) Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Digital Asset Management (DAM) Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

DAM software enables users to upload, store, organize, manage, share and track all digital assets from one source. Usually, it gives users access to it on any device, anywhere. Make regular backups and synchronizations to keep all the files safe and protected. In addition, administrator users can grant or deny access to specific files through specific roles with access control. DAM software is also used to archive past digital assets and automate and streamline current content and creative workflows.

Market Overview:

The latest research study on the global Digital Asset Management (DAM) Software market finds that the global Digital Asset Management (DAM) Software market reached a value of USD 1896.76 million in 2022. It’s expected that the market will achieve USD 4271.31 million by 2028, exhibiting a CAGR of 14.49% during the forecast period.

Influence of COVID-19 Outbreak on Digital Asset Management (DAM) Software Industry Development

The outbreak of COVID-19 is affecting almost every region in the world. Each region has been affected by a significant growth and demotion. East Asia and the Pacific will grow by only 0.5%. South Asia will contract by 2.7%, Sub-Saharan Africa will contract by 2.8%, the Middle East and North Africa will contract by 4.2%, Europe and Central Asia will contract by 4.7%, and Latin America will contract by 7.2%. These downturns are expected to reverse years of progress towards achieving development goals and plunge thousands of people into extreme poverty. Emerging markets and developing economies will be hit by economic resistance from multiple quarters: a weak medical system, losses in trade and tourism, reduced remittances, insufficient capital flows, and increasing debt pressures that have led to tight financial conditions. Developed economies are expected to reduce 7%. This crisis has exceeded the speed of the global economy, and a global recession has become inevitable.

Due to the pandemic of COVID-19, the global economy is expected to lose nearly US$8.5 trillion in output value in the next two years, which will erase almost all the gains of the previous four years. The sharp economic contraction marked the worst contraction since the Great Depression in the 1930s, while the economic downturn at the beginning of the year was only 2.1%. And the outbreak of COVID-19 will aggravate the phenomenon of poverty and inequality. By 2030, 130 million people may join the ranks of the extremely poor, which has hit the global efforts to eliminate extreme poverty and hunger. This epidemic has greatly damaged low-skilled and low-paying jobs, while at the same time making high-skilled jobs less affected, which will further increase income inequality within and between countries.

SWOT Analysis

Digital asset management (DAM) as a system that stores, shares and organizes digital assets in a central location, which amplifies the benefits of creative files such as images, videos and other media. DAM liberates teams and keeps branding materials relevant by centrally storing large amounts of digital content. It increases the security, organization and searchability of digital assets. A DAM system expands content storage while upholding brand standards. Most importantly, it empowers employees by letting them focus on what really matters. DAM software itself has prominent advantages and is conducive to the development of the industry

DAM solutions often come with other features such as powerful import and export functionality, versioning, preview and thumbnail views of assets optimized for processing speed, and automatic conversion of files to different file types or file sizes. DAM systems are often implemented by marketing and operations teams across various industries for help in defining and managing their online brands. These products can also be used to reduce the duplication of an organization’s assets, maintain up-to-date collections, and control security of assets with role-based permissions. Some businesses assign specific individuals as DAM administrators or “librarians to oversee these assets and ensure they follow established brand-specific guidelines.

Meanwhile, marketers often waste the time looking for the right digital asset to enhance their content, be it an image, a graphic or a video. Using a DAM software is a good option to keep digital assets organized, searchable and easily shareable. The powerful functions and benefits of DAM software drive consumption, which is beneficial to the development of the industry

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Aprimo Digital Asset Management, Adobe Experience Manager, OpenText Corporation, Bynder and Widen Collective are the five key players in the global Digital Asset Management (DAM) Software market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Digital Asset Management (DAM) Software market in the past 5 years.

Aprimo provides technology solutions for content, operations, and performance that enable enterprises to optimize their brand experiences and the resources they use to deliver them. Aprimo’s platform gives enterprises the advantage by streamlining and governing all the behind-the-scenes activities—from ideation to distribution—involved in delivering exceptional brand experiences.

Adobe’s game-changing innovations are redefining the possibilities of digital experiences. Adobe connects content and data and introduce new technologies that democratize creativity, shape the next generation of storytelling, and inspire entirely new categories of business. Businesses count on Adobe to help them meet the challenges of digital transformation. With Adobe Experience Cloud they can harness their data and deliver personalized experiences that drive business growth and customer loyalty.

Segmentation Overview:

Among different product types, Brand Asset Management systems segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Media and Entertainment segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Digital Asset Management (DAM) Software market covered in Chapter 3:

Adobe Experience Manager
Image Relay
Aprimo Digital Asset Management
Mediabeacon, Inc.
Daminion
Pics.io
SiteCore
Widen Collective
Bynder
Asset Bank
IntelligenceBank
OpenText Corporation
Censhare
Cloudinary
Brandfolder
Amplifi
Digizuite
Extensis Portfolio
Mediavalet, Inc
CELUM
Cognizant
Canto
Nuxeo
MerlinOne

In Chapter 4 and Chapter 14.2, on the basis of types, the Digital Asset Management (DAM) Software market from 2018 to 2029 is primarily split into:

Brand Asset Management Systems
Library Asset Management Systems
Production Asset Management Systems
Digital Supply Chain services

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Digital Asset Management (DAM) Software market from 2018 to 2029 covers:

Healthcare
Retail
Media and Entertainment
Manufacturing
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)