Digital Asset Management Market Forecasts to 2028 – Global Analysis By Business Function (Sales and Marketing, Human Resource (HR)), Deployment Type (Cloud, On-Premises), and By Geography
According to Stratistics MRC, the Global Digital Asset Management Market is accounted for $3.69 billion in 2021 and is expected to reach $10.19 billion by 2028 growing at a CAGR of 15.6% during the forecast period. Digital asset management helps companies to develop solutions, wherein they can retrieve their digital assets faster and lay a foundation for targeted access across the teams and channels.
Market Dynamics:
Driver:
High adoption of digital marketing
Increasing use of social media among the population, digital marketing has evolved as a very important platform for enterprises to promote their products and services to a huge target audience in a short span. Implementation of analytical tools along with social media platforms has facilitated enterprises to recognize their customer behavior patterns and offer better customer value propositions. Thus, enterprises are likely to adopt the DAM solution, which would allow them to streamline digital assets, surface relevant metadata, secure assets, and also transform digital content into their latest forms.
Restraint:
High costs
The cost associated with primary implementation and lifetime license costs for managing digital assets cannot be ignored. With the increase in the number of users per account and storage capacity, the overall cost of DAM license and implementation also increases. Moreover, with the problem over the pricing of support services, digital asset management constraints, and other minute capabilities, many SMEs are doubtful about implementing DAM solutions.
Opportunity:
The emergence of artificial intelligence to automate processes
While choosing DAM solutions, companies look for AI and ML capabilities. AI-based DAM solutions assist companies to automate image tagging i.e., the assignment of keywords or metadata to digital assets based on what they contain. This automated tagging enables quick identification, segmentation, and retrieval of digital assets. AI also helps DAM solutions extract metadata from the digital assets, to perform forensic analysis and assess the compliant nature of digital assets, which ensure that the users are not using any content subjected to copyrights.
Threat:
Dependence on traditional approaches
Many organizations fix to conventional and time-consuming methods majorly owing to budget constraints to adopting advanced technologies and lack of awareness. Additionally, the lack of training and capabilities to manage these advanced solutions coupled with resistance to changes is acting as a threat that restricts employees from adopting the DAM solution.
The human resource (HR) segment is expected to be the largest during the forecast period
The human resource (HR) segment is estimated to have a lucrative growth owing to the rising need among HR teams to make more efficient the management of employee-related documents and photos along with ensuring enrichment and distribution of recruitment-related media assets.
The small and medium-sized enterprises (SMEs) segment is expected to have the highest CAGR during the forecast period
The small and medium-sized enterprises (SMEs) segment is anticipated to witness the fastest CAGR growth during the forecast period as small and medium-sized enterprises face greater resource crunch than larger enterprises and need better methods to solve the complexities for better cost optimization of their business processes.
Region with highest share:
North America is projected to hold the largest market share during the forecast period due to the strong economic landscape, early adoption of advanced technologies, and high digital adoption at workplaces to improve business processes.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period owing to high investment interest in AI and other technologies by MSMEs to speed up digital transformation.
Key players in the market
Some of the key players profiled in the Digital Asset Management Market include Cognizant, Aprimo, Widen, CELUM, Sitecore, OpenText, Nuxeo, Censhare, MediaValet, Digizuite, Cloudinary, MediaBeacon, Northplains, Canto, Bynder, Wedia, and Adobe.
Key Developments:
In Nov 2021, Adobe launched AEM Assets Part 2, which features DAM implementation best practices in use. Adobe’s professional services teams help customers architect, develop, and implement digital marketing solutions every day.
In May 2021, Bynder launched the SAP Commerce Cloud Connector to enable brands to deliver relevant and timely product media to power engaging and personalized e-commerce experiences. The connector between Bynder’s DAM and SAP Cloud Commerce allows marketers to make on-brand, approved web and product assets—in the right size and format—available for use without leaving SAP Commerce Cloud.
Business Functions Covered:
• Sales and Marketing
• Information Technology (IT)
• Human Resource (HR)
• Broadcast and Publishing
• Other Business Functions
Organization Sizes Covered:
• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)
Deployment Types Covered:
• Cloud
• On-Premises
Components Covered:
• Solution
• Services
End Users Covered:
• Travel and Hospitality
• Retail and eCommerce
• Media and Entertainment
• Manufacturing
• IT and Telecom
• Healthcare and Life Sciences
• Government and Public Sector
• Banking, Financial Services, And Insurance (BFSI)
• Automotive
• Other End Users
Types Covered:
• Production Asset Management
• Library Asset Management
• Brand Asset Management
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
- 1 Executive Summary
- 2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
- 3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 End User Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
- 4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
- 5 Global Digital Asset Management Market, By Business Function
- 5.1 Introduction
- 5.2 Sales and Marketing
- 5.3 Information Technology (IT)
- 5.4 Human Resource (HR)
- 5.5 Broadcast and Publishing
- 5.6 Other Business Functions
- 5.6.1 Website Management
- 5.6.2 Photography, Graphics & Designing
- 5.6.3 Enterprise
- 5.6.4 Distribution
- 5.6.5 Creative Operations
- 6 Global Digital Asset Management Market, By Organization Size
- 6.1 Introduction
- 6.2 Large Enterprises
- 6.3 Small and Medium-sized Enterprises (SMEs)
- 7 Global Digital Asset Management Market, By Deployment Type
- 7.1 Introduction
- 7.2 Cloud
- 7.3 On-Premises
- 8 Global Digital Asset Management Market, By Component
- 8.1 Introduction
- 8.2 Solution
- 8.2.1 Asset and Metadata Archivin
- 8.2.2 Web Content Integration
- 8.2.3 Video Management
- 8.2.4 Lifecycle and Rights Management
- 8.2.5 Creative Tool Integration
- 8.2.6 Brand Portals
- 8.2.7 Asset Analytics
- 8.3 Services
- 8.3.1 Training, Support, and Maintenance
- 8.3.2 Integration and Implementation
- 8.3.3 Consulting
- 9 Global Digital Asset Management Market, By End User
- 9.1 Introduction
- 9.2 Travel and Hospitality
- 9.3 Retail and eCommerce
- 9.4 Media and Entertainment
- 9.5 Manufacturing
- 9.6 IT and Telecom
- 9.7 Healthcare and Life Sciences
- 9.8 Government and Public Sector
- 9.9 Banking, Financial Services, And Insurance (BFSI)
- 9.10 Automotive
- 9.11 Other End Users
- 9.11.1 Real Estate and Construction
- 9.11.2 Energy and Utilities
- 9.11.3 Education
- 9.11.4 Consumer Goods
- 10 Global Digital Asset Management Market, By Type
- 10.1 Introduction
- 10.2 Production Asset Management
- 10.3 Library Asset Management
- 10.4 Brand Asset Management
- 11 Global Digital Asset Management Market, By Geography
- 11.1 Introduction
- 11.2 North America
- 11.2.1 US
- 11.2.2 Canada
- 11.2.3 Mexico
- 11.3 Europe
- 11.3.1 Germany
- 11.3.2 UK
- 11.3.3 Italy
- 11.3.4 France
- 11.3.5 Spain
- 11.3.6 Rest of Europe
- 11.4 Asia Pacific
- 11.4.1 Japan
- 11.4.2 China
- 11.4.3 India
- 11.4.4 Australia
- 11.4.5 New Zealand
- 11.4.6 South Korea
- 11.4.7 Rest of Asia Pacific
- 11.5 South America
- 11.5.1 Argentina
- 11.5.2 Brazil
- 11.5.3 Chile
- 11.5.4 Rest of South America
- 11.6 Middle East & Africa
- 11.6.1 Saudi Arabia
- 11.6.2 UAE
- 11.6.3 Qatar
- 11.6.4 South Africa
- 11.6.5 Rest of Middle East & Africa
- 12 Key Developments
- 12.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 12.2 Acquisitions & Mergers
- 12.3 New Product Launch
- 12.4 Expansions
- 12.5 Other Key Strategies
- 13 Company Profiling
- 13.1 Cognizant
- 13.2 Aprimo
- 13.3 Widen
- 13.4 CELUM
- 13.5 Sitecore
- 13.6 OpenText
- 13.7 Nuxeo
- 13.8 Censhare
- 13.9 MediaValet
- 13.10 Digizuite
- 13.11 Cloudinary
- 13.12 MediaBeacon
- 13.13 Northplains
- 13.14 Canto
- 13.15 Bynder
- 13.16 Wedia
- 13.17 Adobe
- List of Tables
- Table 1 Global Digital Asset Management Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Digital Asset Management Market Outlook, By Business Function (2020-2028) ($MN)
- Table 3 Global Digital Asset Management Market Outlook, By Sales and Marketing (2020-2028) ($MN)
- Table 4 Global Digital Asset Management Market Outlook, By Information Technology (IT) (2020-2028) ($MN)
- Table 5 Global Digital Asset Management Market Outlook, By Human Resource (HR) (2020-2028) ($MN)
- Table 6 Global Digital Asset Management Market Outlook, By Broadcast and Publishing (2020-2028) ($MN)
- Table 7 Global Digital Asset Management Market Outlook, By Other Business Functions (2020-2028) ($MN)
- Table 8 Global Digital Asset Management Market Outlook, By Website Management (2020-2028) ($MN)
- Table 9 Global Digital Asset Management Market Outlook, By Photography, Graphics & Designing (2020-2028) ($MN)
- Table 10 Global Digital Asset Management Market Outlook, By Enterprise (2020-2028) ($MN)
- Table 11 Global Digital Asset Management Market Outlook, By Distribution (2020-2028) ($MN)
- Table 12 Global Digital Asset Management Market Outlook, By Creative Operations (2020-2028) ($MN)
- Table 13 Global Digital Asset Management Market Outlook, By Organization Size (2020-2028) ($MN)
- Table 14 Global Digital Asset Management Market Outlook, By Large Enterprises (2020-2028) ($MN)
- Table 15 Global Digital Asset Management Market Outlook, By Small and Medium-sized Enterprises (SMEs) (2020-2028) ($MN)
- Table 16 Global Digital Asset Management Market Outlook, By Deployment Type (2020-2028) ($MN)
- Table 17 Global Digital Asset Management Market Outlook, By Cloud (2020-2028) ($MN)
- Table 18 Global Digital Asset Management Market Outlook, By On-Premises (2020-2028) ($MN)
- Table 19 Global Digital Asset Management Market Outlook, By Component (2020-2028) ($MN)
- Table 20 Global Digital Asset Management Market Outlook, By Solution (2020-2028) ($MN)
- Table 21 Global Digital Asset Management Market Outlook, By Asset and Metadata Archivin (2020-2028) ($MN)
- Table 22 Global Digital Asset Management Market Outlook, By Web Content Integration (2020-2028) ($MN)
- Table 23 Global Digital Asset Management Market Outlook, By Video Management (2020-2028) ($MN)
- Table 24 Global Digital Asset Management Market Outlook, By Lifecycle and Rights Management (2020-2028) ($MN)
- Table 25 Global Digital Asset Management Market Outlook, By Creative Tool Integration (2020-2028) ($MN)
- Table 26 Global Digital Asset Management Market Outlook, By Brand Portals (2020-2028) ($MN)
- Table 27 Global Digital Asset Management Market Outlook, By Asset Analytics (2020-2028) ($MN)
- Table 28 Global Digital Asset Management Market Outlook, By Services (2020-2028) ($MN)
- Table 29 Global Digital Asset Management Market Outlook, By Training, Support, and Maintenance (2020-2028) ($MN)
- Table 30 Global Digital Asset Management Market Outlook, By Integration and Implementation (2020-2028) ($MN)
- Table 31 Global Digital Asset Management Market Outlook, By Consulting (2020-2028) ($MN)
- Table 32 Global Digital Asset Management Market Outlook, By End User (2020-2028) ($MN)
- Table 33 Global Digital Asset Management Market Outlook, By Travel and Hospitality (2020-2028) ($MN)
- Table 34 Global Digital Asset Management Market Outlook, By Retail and eCommerce (2020-2028) ($MN)
- Table 35 Global Digital Asset Management Market Outlook, By Media and Entertainment (2020-2028) ($MN)
- Table 36 Global Digital Asset Management Market Outlook, By Manufacturing (2020-2028) ($MN)
- Table 37 Global Digital Asset Management Market Outlook, By IT and Telecom (2020-2028) ($MN)
- Table 38 Global Digital Asset Management Market Outlook, By Healthcare and Life Sciences (2020-2028) ($MN)
- Table 39 Global Digital Asset Management Market Outlook, By Government and Public Sector (2020-2028) ($MN)
- Table 40 Global Digital Asset Management Market Outlook, By Banking, Financial Services, And Insurance (BFSI) (2020-2028) ($MN)
- Table 41 Global Digital Asset Management Market Outlook, By Automotive (2020-2028) ($MN)
- Table 42 Global Digital Asset Management Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 43 Global Digital Asset Management Market Outlook, By Real Estate and Construction (2020-2028) ($MN)
- Table 44 Global Digital Asset Management Market Outlook, By Energy and Utilities (2020-2028) ($MN)
- Table 45 Global Digital Asset Management Market Outlook, By Education (2020-2028) ($MN)
- Table 46 Global Digital Asset Management Market Outlook, By Consumer Goods (2020-2028) ($MN)
- Table 47 Global Digital Asset Management Market Outlook, By Type (2020-2028) ($MN)
- Table 48 Global Digital Asset Management Market Outlook, By Production Asset Management (2020-2028) ($MN)
- Table 49 Global Digital Asset Management Market Outlook, By Library Asset Management (2020-2028) ($MN)
- Table 50 Global Digital Asset Management Market Outlook, By Brand Asset Management (2020-2028) ($MN)
- Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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