Digital Asset Management Market

Growth opportunities in the digital asset management market look promising over the next six years. This is mainly due to the growing demand for digital media infrastructure to promote brands and products by organizations and raising network bandwidth. The implementation of virtual reality and augmented reality have further surged the market growth.

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Digital Asset Management Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The drivers accelerating the growth of the digital asset management market include the reduced storage costs, increasing demand for digital media infrastructure to stimulate brands and products, expanding network bandwidth, and economical cloud computing services. Also, DAM supports organizations to organize digital assets at a central location, automate workflows, find media files quickly with the help of sophisticated search capabilities, manage permissions through comprehensive copyright functionality, tag images automatically, and use facial recognition.

As per the American Bar Association, the market capitalization of virtual currency, a subset of digital assets, is approximated to be $194.9 billion as of December 31, 2019. The increase in the digital asset market is expected to raise the market demand. Furthermore, growth in the incorporation of virtual reality and augmented reality have resulted in driving the consumption of several kinds of digital media, including video clips, photos, streaming movies, interactive ads, audio files, animations, games, and experiential marketing, which strengthens the digital asset management market size.

However, according to the digital asset management market analysis, high initial investment concerned with implementing and integrating the digital asset management system may curb the growth of digital asset management industry. Additionally, an incompetent skilled workforce will restrain the market growth.

End-User Segment Drivers

Based on the end-user, BFSI is projected to expand at a faster CAGR during the forecast period. This is due to the growing number of digital platforms for financial services. Numerous financial institutions, including UBS Group AG, Barclays Plc, National Bank of Canada, and Revolut, are investing in digital assets which include tokens, bitcoin, and cryptos, promoting the market growth.

Regional Drivers

Based on regional coverage, North America is predicted to witness a higher CAGR over the forecast period. This is largely because of the surging digitalization and acquisition of cloud technology across enterprises. Moreover, the prevalence of DAM solution providers, including Oracle Corporation, Cognizant Technology Solutions Corporation, Adobe Inc., and Microsoft Corporation, is bolstering the market growth.

Digital Asset Management Market’s leading Manufacturers:

· Quantum Corporation

· SAP SE

· International Business Machines Corporation

· Hewlett Packard Enterprise Development LP

· Cognizant Technology Solutions Corporation

· Canto, Inc.

· Microsoft Corporation

· Dell Inc.

· Oracle Corporation

· Adobe Inc.

Digital Asset Management Market Segmentation:

Segmentation by Type:

· Brand Asset Management Systems

· Library Asset Management Systems

· Production Asset Management Systems

Segmentation by Solution:

· Video Management

· Creative Tool Integration

· Asset Analytics

· Web Content Integration

· Brand Portals

· Asset and Metadata Archiving

· Lifecycle and Rights Management

Segmentation by Deployment:

· On-premise

· Cloud

Segmentation by Organization Size:

· SMEs (Small and Medium Enterprises)

· Large Enterprises

Segmentation by End-User:

· Media and Entertainment

· BFSI

· Government

· Healthcare

· Retail

· Manufacturing

· Others

Segmentation by Region:

· North America

o United States of America

o Canada

· Asia Pacific

o China

o Japan

o India

o Rest of APAC

· Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

· RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

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