Digital asset management helps in storing and managing important data for future reference and access. The Market for Digital Asset Management is expected to witness strong growth during the forecast period owing to the increasing application in marketing and sales. Furthermore, the use of DAM for video management solutions is also set the drive the demand for the market.
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There are several factors aiding the demand for digital asset management market. The global emergence of rise in labor wages is resulting into the need for process automation in order to increase the efficiency at workplace. The use of DAM reduces expenses by eliminating the time needed for searchingthe files, posting files to desired locations,re-creating missing files, and delivering them via FTP, discs, or drives. Furthermore, it improves the revenue by creating and delivering assets and campaigns for more devices and platforms. In addition, it improves the collation at work by distributing teams which work together towards a desired goal.
Going further, the case of increasing labor wages has led to the need for automation in manufacturing industries. Moreover, the use of automation not only reduces the need for human labor but also increases the efficiency of operation and reduces the chances of human error. Furthermore, processing industries such as chemical processing, pulp and paper, oil refineries are gradually shifting towards automation to sustain in the competitive environment. The increase demand for process automation is directly driving the need for digital asset management as it is used for storing, organizing and retrieving rich media and managing digital rights and permissions which are essential in any automation process.
The changing global scenario portrays the increased demand for digital marketing solutions and applications in different organization for various purposes such as asset analytics and other lifecycle and rights management. Moreover, the enterprises have started focusing on the high value of data which needs to be stored securely. In addition, it is difficult to manage and maintain complex data sets manually. The use of DAM helps the IT department in organizing the data and securing it from unwanted access. This factor is further driving the demand for DAM globally.
However there are certain issues which are limiting the growth of the DAM in the global market. The high cost of DAM software is one of the primary factors hindering the growth of the market. Furthermore, the security concerns of the data stored in cloud based DAM software is another factor limiting their demand in the market.
Global Data Asset Management Market: Segmentation
The global digital asset management market has been segmented by solutions, deployment model, application and geography. By solutions, the market has been categorized intoasset & metadata archiving, video management, web content management, creative tool integration and lifecycle & rights management among others. Furthermore, the market has been segregated by deployment model into enterprise, on premise and cloud deployment model among others. By application, the market has been segmented into marketing, sales, information technology and photography and graphic designing among others. Each of the segmented has been studies in different regions such as North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Global Data Asset Management Market: Scope of the Report
The global report of digital asset management market also includes the key trends expected to affect the demand and supply of the asset management systems in future. Moreover, the market attractiveness of the various types of solutions have been included in order understand the future opportunities of these segments. The global market of digital asset management has been tracked in terms of revenue from 2017 to 2025 where in 2016 has been considered as the base year of the study.
The report also includes a detailed company profile of the major players which includes the company overview, product segments, and financial performance over the last three years, SWOT analysis and the business strategies adopted by them. The key players profiled in this report include IBM Corporation (U.S.), Hewlett Packard Enterprise (U.S.), Dell EMC (U.S.), Oracle Corporation (U.S.), Boeing (U.S.), Amazon Web Services (U.S.), Microsoft Corporation (U.S.), Commvault (U.S.), Symantec Corporation (U.S.), Opentext Corporation (U.S.) and Canto, Inc. (U.S.).
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