HOME › Research Insight › Digital Asset Management (DAM) is the Technology That Helps in Managing, Organizing, Storing, and Retrieving Digital Files, Folders Including Videos, Audios, Content, Images, and Multimedia Files
Digital Asset Management (DAM) is the Technology That Helps in Managing, Organizing, Storing, and Retrieving Digital Files, Folders Including Videos, Audios, Content, Images, and Multimedia Files
Digital Asset management (DAM) is the technology that helps in managing, organizing, storing, and retrieving digital files, folders including videos, audios, content, images, and multimedia files. The popularity DAM is rising because of increasing usage of audios, images, and videos along with content in every part of businesses. Departments such as marketing and sales are using these digital assets for communicating with customers, and other brands. In various sectors such as BFSI, and manufacturing there has been rise in the utilization of digital assets such as videos and multimedia files for daily tasks. The growing usage of digital assets has increased the requirement of solution that can help in management and security of these assets. The emergence of DAM technology have solved this problem of asset management by providing solutions such as video management, asset and metadata archiving, brand portals, asset analytics, and other.
The image recognition market size is estimated to grow from USD 1.42 Billion in 2015 to USD 5.36 Billion by 2020, at a Compound Annual Growth Rate of (CAGR) of 30.4%.
The key players in DAM market include OpenText, Oracle, Adobe Systems, ADAM, IBM, EMC, and others. These players adopted various key strategies such as partnerships, agreements, mergers & acquisitions, and new product developments to increase demand and achieve growth in the global DAM market.
The DAM market has witnessed many new product launches, as the result of the strategy adopted by industry players to attain high growth in the market.
The rising demand for DAM solutions and services in the emerging markets has encouraged solution vendors and service providers to adopt the strategy of partnership and new product launches strategy. Open Text launched an integration solution with SAP to improve customer experience and engagement. This solution would help in providing Omni-channel experience. Adobe launched new Adobe experience manager. This solution would help in providing better digital experience to users, along with the integration of mobile apps and IoT. Moreover, ADAM entered into a partnership with FADEL, a provider of intellectual property and rights management. The partnership of ADAM would help in digital experience solutions and fast production cycle.
The key players have also adopted strategy of acquisitions in order to increase their presence in developing countries and expand their product portfolios to untapped markets. IBM plans to buy German firm, ecx.io. The deal would add another 200 creative designs specialists to IBM Interactive Experience, a service division dedicated to digital marketing and analytics project. Adobe acquired comScore, a digital analytics company. This acquisition would help in customer analytics solutions and help Adobe users in digital analytics.
The DAM service providers are also providing their services along with DAM solutions to the organizations which need services such as training and consulting for their employees, so as to better understand the use of DAM solutions.
Digital Asset Management Market by Solution (Video Management), by Service (Consulting), by Application (Marketing), by Deployment Type, by User Type, by Industry (Government), and by Region - Global Forecast to 2020
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India