Digital Asset Management Market Size, Growth, Trends Analysis & Industry Report, 2030-2030
Analysis from GMI Research finds that the Digital Asset Management Market earned revenues of USD 4.1 billion in 2022 and estimates to touch USD 12.8 billion in 2030 will grow at a high double-digit CAGR of 14.1%
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Major Digital Asset Management Market Drivers
Increasing network bandwidth; decreased storage costs; affordable cloud computing services; and the growing demand for digital media infrastructure to promote brands and products by organizations are some of the major factors expected to drive the growth of the digital asset management market size. In addition, DAM helps organizations in organizing digital assets in a central location, automating workflows, locating media files quickly using sophisticated search capabilities, managing permissions through extensive copyright functionality, and tagging images automatically and uses facial recognition. Such factors further propels the growth of the digital asset management industry.
Moreover, according to the American Bar Association, the market capitalization of virtual currency, which is a subset of digital assets, is estimated $194.9 billion as of December 31, 2019. The growth in the digital asset market is expected to increase the demand of digital asset management market over the forecast period. Furthermore, rise in the implementation of virtual reality and augmented reality have led to the increase in the consumption of different kind of digital media including photos, audio files, video clips, interactive ads, animations, games, streaming movies, and experiential marketing, which contribute to the demand of digital asset management system.
Restraint in the Digital Asset Management Market
However, high initial investment related to the implementation and integration of the digital asset management system is one of the major factors expected to restraint the market growth. Additionally, lack of skilled workforce may further hamper growth of the DAM market.
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Type – Segment Analysis
Based on the type, library asset management systems is anticipated to grow substantially over the forecast period. This is primarily due benefit of DAM offering centralized and secure place storing, managing, retrieving, core processing of rich media files and their metadata.
Solution – Segment Analysis
Based on the solution, the video management is expected to grow at a prominent CAGR during the forecast period owing to its advantages to store and organize large amounts of digital video content. Moreover, video asset management provides centralized storage, optimize video uploading, maximizes a company’s entire video library, and protect from copyright infringement. This further propels the market growth.
Deployment – Segment Analysis
Based on the deployment, the cloud segment is projected to witness high growth primarily due to low-cost implementation of cloud-based solutions and rapid deployment of services. They are increasingly being adopted by end-users as they help reduce the total cost of operation.
Organization Size – Segment Analysis
Based on the organization size, small and medium enterprises (SMEs) segment is expected to grow at a significant rate during the forecast period owing to the increasing proliferation of cloud-based solutions and rapid digitization of SMEs throughout the world. According to the World Bank Group, small and medium enterprises represent about 90% of businesses worldwide and it is estimated to provide 600 million jobs by 2030. This will further support the market growth.
End-User – Segment Analysis
Based on the end-user, BFSI segment is expected to account for a large share in the market primarily due to the increasing number of digital platforms for financial services. Moreover, various financial institutions including National Bank of Canada, Revolut, UBS Group AG, and Barclays Plc are increasingly investing in digital assets such as cryptos, bitcoin, and tokens, which is further supporting the market growth.
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Regional – Segment Analysis:
Based on region, North America is expected to account for a large share in the digital asset management market primarily due to the increasing digitization and adoption of cloud technology among enterprises in the region. Additionally, presence of DAM solution providers, including Adobe Inc., Cognizant Technology Solutions Corporation, Oracle Corporation, and Microsoft Corporation is further contributing to the growth of the market.
Top Market Players
Several Leading players operating in the market, include, Adobe Inc., Cognizant Technology Solutions Corporation, Oracle Corporation, Hewlett Packard Enterprise Development LP, Dell Inc., International Business Machines Corporation, Microsoft Corporation, SAP SE, Canto, Inc., and Quantum Corporation among others.
Key Developments:
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- In 2020, Quantum Corporation acquired Square Box Systems Ltd, one of the prominent companies offering data cataloguing, user collaboration, and digital asset management software. This acquisition is expected to strengthen Quantum’s ability to provide software solutions for managing digital data, both on-premises and in the cloud.
Segments covered in the Report:
The global Digital Asset Management Market has been segmented on the basis of type, solution, deployment, organization size, end-user, and key region. Based on type, the market is segmented into Brand Asset Management Systems, Library Asset Management Systems, and Production Asset Management Systems. Based on solution, the market is segmented into video management, creative tool integration, asset analytics, web content integration, brand portals, asset and metadata archiving, and lifecycle and rights management. Based on deployment, the market is segmented into on-premise, and cloud. Based on organization size, the market is segmented into SMEs and large enterprises. Based on end user, the market is segmented into media & entertainment, BFSI, government, healthcare, retail, manufacturing, and others.
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|
Report Coverage |
Details |
| Market Revenues (2022) |
USD 4.1 billion |
| Market Base Year |
2022 |
| Market Forecast Period |
2023-2030 |
| Base Year & Forecast Units |
Revenues (USD Billion) |
| Market Segment | By Type, By Solution, By Deployment, By Organization Size, By End-User, By Region |
| Regional Coverage | Asia Pacific, Europe, North America, and RoW |
| Companies Profiled | Adobe Inc., Cognizant Technology Solutions Corporation, Oracle Corporation, Hewlett Packard Enterprise Development LP, Dell Inc., International Business Machines Corporation, Microsoft Corporation, SAP SE, Canto, Inc., and Quantum Corporation among others; a total of 10 companies covered. |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Digital Asset Management Market by Type
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- Brand Asset Management Systems
- Library Asset Management Systems
- Production Asset Management Systems
Global Digital Asset Management Market by Solution
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- Video Management
- Creative Tool Integration
- Asset Analytics
- Web Content Integration
- Brand Portals
- Asset and Metadata Archiving
- Lifecycle and Rights Management
Global Digital Asset Management Market by Deployment
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- On-premise
- Cloud
Global Digital Asset Management Market by Organization Size
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- SMEs (Small and Medium Enterprises)
- Large Enterprises
Global Digital Asset Management Market by End-User
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- Media and Entertainment
- BFSI
- Government
- Healthcare
- Retail
- Manufacturing
- Others
Global Digital Asset Management Market by Region
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-
North America Digital Asset Management Market (Option 1: As a part of the free 25% customization)
- By Type
- By Solution
- By Deployment
- By Organization Size
- By End-User
- US Market All-Up
- Canada Market All-Up
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Europe Digital Asset Management Market (Option 2: As a part of the free 25% customization)
- By Type
- By Solution
- By Deployment
- By Organization Size
- By End-User
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
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Asia-Pacific Digital Asset Management Market (Option 3: As a part of the free 25% customization)
- By Type
- By Solution
- By Deployment
- By Organization Size
- By End-User
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
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RoW Digital Asset Management Market (Option 4: As a part of the free 25% customization)
- By Type
- By Solution
- By Deployment
- By Organization Size
- By End-User
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
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Major Players Operating in the Digital Asset Management Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Adobe Inc.
- Cognizant Technology Solutions Corporation
- Oracle Corporation
- Hewlett Packard Enterprise Development LP
- Dell Inc.
- International Business Machines Corporation
- Microsoft Corporation
- SAP SE
- Canto, Inc.
- Quantum Corporation
Frequently Asked Question About This Report
Digital Asset Management Market [UP1641-001001]
Increasing network bandwidth; decreased storage costs; affordable cloud computing services; and the growing demand for digital media infrastructure to promote brands and products by organizations are some of the key factors that drive the growth of the digital asset management market size.
The growth rate of digital asset management market is 14.1% during the forecast period.
The video management is projected to grow at a prominent CAGR during the forecast period owing to its advantages to store and organize large amounts of digital video content.
The top players over the market are Adobe Inc., Cognizant Technology Solutions Corporation, Oracle Corporation, Hewlett Packard Enterprise Development LP, Dell Inc., International Business Machines Corporation, Microsoft Corporation, SAP SE, Canto, Inc., and Quantum Corporation among others.
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