Digital Asset Management (DAM) Market by Component (Solutions and Services), Application (Enterprise, Marketing, and Broadcasting and Publishing), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022
[129 Pages Report] The Digital Asset Management market is projected to grow from USD 2.44 billion in 2017 to USD 5.66 billion by 2022, at an expected CAGR of 18.3%. The base year considered for this study is 2016 and the forecast period is 20172022. The rise in demand among enterprises to manage digital assets, proliferation of digital content, and increasing focus on digital marketing have further aided the adoption of DAM solution, globally.
Selected Market Dynamics in Digital Asset Management Market
Increasing focus and spending on digital marketing
As more users are engaged on social media, digital marketing has evolved as a vital platform for enterprises to market their products and services to a large target audience in a short period of time. Furthermore, integration of analytical tools with social media platforms has facilitated enterprises to understand their customer behaviour patterns and offer better customer value proposition. Considering the marketing benefits of social media, enterprises are willing to invest heavily on digital marketing activities to promote their products and services, hence leading to a significant rise in digital content, such as high-definition videos, high-quality images, and audios. To manage this plethora of digital content, enterprises are expected to adopt the DAM solution, which would enable them to streamline digital assets, surface relevant metadata, secure assets, and also transform digital content into their latest forms.
Lack of awareness and dependence on traditional approaches
Large enterprises have been adopting various advanced solutions to manage their digital assets, considering the large pool of digital content available with them. However, many organizations stick to traditional and time-consuming methods, such as manually managing digital assets, majorly due to budget constraints to adopt advanced technologies and lack of awareness. Thus, many SMEs depend on manual and other traditional approaches to manage their digital assets. Furthermore, lack of training and capabilities to manage these advanced solutions is another major factor for their lower adoption. This degree of unawareness differs from region to region, and the adoption of advanced solutions in North America and Europe is faster as compared to other regions. Resistance to changes is another factor that restricts employees from adopting the DAM solution.
Objectives of the Study:
- To define, describe, and forecast the Digital Asset Management Market on the basis of components (solution and services), applications, organization sizes, deployment types, verticals, and regions
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze the submarkets with respect to the individual growth trends, prospects, and contributions to the market
- To analyze and forecast the market size in terms of revenue
- To forecast the market size of the market segments with respect to the 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
- To profile the key players of the market and comprehensively analyze their core competencies1 in each microsegment
- To analyze competitive developments, such as agreements, alliances, joint ventures, and mergers and acquisitions in the market
The research methodology used to estimate and forecast the digital asset management market begins with the collection and analysis of data from the extensive secondary sources, directories, and databases, such as D&B Hoovers, Bloomberg Businessweek, and Factiva to identify and collect information for a technical, market-oriented, and commercial study of the Digital Asset Management Market. The key vendors product offerings and business strategies have been analyzed from secondary sources, such as IT service providers, technology providers, press releases, investor presentations of companies, white papers, technology journals, certified publications, and articles from recognized authors, directories, and databases to identify market segments. The bottom-up procedure was employed to arrive at the total market size of the market from the revenue of the key market software tool providers and service providers. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives.
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Industry Ecosystem
The digital asset management ecosystem comprises vendors such as Adobe Systems Incorporated (U.S.), OpenText Corporation (Canada), Celum (Austria), Mediabeacon, Inc. (U.S.), Canto, Inc. (U.S.), Widen (U.S.), Bynder (Netherlands), Northplains (Canada), Mediavalet, Inc. (Canada), and Cognizant (U.S.). Please visit 360Quadrants to see the vendor listing of Digital Asset Management Software.
Key Target Audience
- Digital asset management vendors
- Workforce optimization solution providers
- Customer experience solution providers
- Contact center infrastructure vendors
- Managed service providers
- Value added resellers
Scope of the Digital Asset Management Market Report
The research report categorizes the digital asset management market to forecast the revenues and analyze the trends in each of the following sub-markets:
By Component
- Solution
- Services
- Consulting
- System Integration
- Support and Maintenance
Digital Asset Management Market By Application
- Enterprise
- Marketing
- Broadcast and Publishing
By Deployment Type
- On-premises
- Cloud
By Organization Size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Digital Asset Management Market By Vertical
- Media and entertainment
- Banking, Financial Services, and Insurance (BFSI)
- Consumer goods and retail
- Manufacturing
- Healthcare and life sciences
- Education
- Travel and tourism
- Others (energy and utilities, telecom and IT, and government)
By Region
- North America
- Europe
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix which gives a detailed comparison of the product portfolio of each company
Geographic Analysis
- Further breakdown of the North American digital asset management market into countries
- Further breakdown of the European market into countries
- Further breakdown of the APAC market into countries
- Further breakdown of the Middle Eastern and African market into countries
- Further breakdown of the Latin American market into countries
Company Information
- Detailed analysis and profiling of additional market players
The digital asset management market is estimated to grow from USD 2.44 billion in 2017 to USD 5.66 billion by 2022, at a CAGR of 18.3% considering the tremendous growth in digital assets across different industry verticals. Artificial Intelligence (AI) is changing the way social media marketing approaches customers and the companies address workflow challenges. AI platforms in digital asset management makes it easier than ever before to manage huge volumes or content. AI offers the ability to automatically tag assets based on attributes such as faces, objects, colours, shapes, and more. And the constant developments in DAM technologies, such as integration of cloud and mobility, analytics, and the emergence of IoT have further leveraged DAM vendors to offer a superior solution to improve organizational productivity in a cost-efficient manner.
The small and medium enterprises (SMEs) segment is expected to grow at the highest CAGR during the forecast period. Small enterprises face greater resource crunch than larger enterprises and require better methods to solve the complexities for better cost optimization on their business processes. Implementing viable solutions for managing and maintaining metadata and digital assets are some of the major benefits that the small enterprises are experiencing through the adoption of DAM. By using these managed services, SMEs are able to focus more on business operations than worrying about maintaining digital asset management cost.
The cloud-based DAM solutions are rapidly gaining traction in the deployment type segment. The cloud deployment type stimulates better access to digital assets data, with faster implementation and reduced total cost of ownership. Considering the cost benefits, small and medium enterprises are likely to adopt cloud-based deployment model for implementing DAM solutions. Furthermore, higher scalability and speed are other major factors that support the fast growth of this model. The market for cloud is expected to grow in the coming years as it provides secure access to various marketing content thus promoting and aiding the marketing campaigns.
Managing digital assets, extracting relevant insights from data, and using decision analytics based on patterns are critical aspects of an organization. DAM solution and services offer an efficient and effective way to manage these digital assets and are being increasingly adopted across various industry verticals globally. The consumer goods and retail sector is expected to grow at the highest rate from 2017 to 2022.
The DAM solution helps industries in effectual monitoring and tracking of their digital assets for media and production. They also facilitate managers with real-time access to critical information, such as priority digital media for marketing, protected documents, and fragmentation of digital assets. The North American region has a high concentration of media and entertainment industries that largely contribute to the adoption of DAM solutions and services. Hence, among all the regions North America is expected to hold the largest market share and dominate the Digital Asset Management Market from 2017 to 2022.
However, due to lack of training and capabilities to manage these advanced solutions is a major factor for less adoption of DAM solutions by organizations. This degree of unawareness differs from region to region, the adoption of advanced solutions in North America and Europe is faster as compared to other regions.
The major solution and service providers in the Digital Asset Management Market include ADAM Software NV (Belgium), Adobe Systems Incorporated (U.S.), OpenText Corporation (Canada), Celum (Austria), MediaBeacon (U.S.), Canto, Inc. (U.S.), Widen (U.S.), WebDAM (U.S.), Bynder (Netherlands), NorthPlains (Canada), MediaValet, Inc. (Canada), and Cognizant (U.S.). These players have adopted various strategies, such as new product launches, to cater to the needs of the DAM users.
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Table of Contents
1 Introduction (Page No. - 11)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology (Page No. - 15)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Microquadrant Research Methodology
2.3.1 Vendor Inclusion Criteria
2.4 Research Assumptions and Limitations
2.5 Limitations
3 Executive Summary (Page No. - 22)
4 Premium Insights (Page No. - 25)
4.1 Attractive Market Opportunities in Global Digital Asset Management Market
4.2 Global Market By Vertical and Region
4.3 Global Market By Deployment Type
4.4 Global Market By Component
4.5 Global Market By Organization Size
4.6 Global Market Potential
4.7 Lifecycle Analysis, By Region, 2017
5 Market Overview and Industry Trends (Page No. - 29)
5.1 Introduction
5.2 Innovation Spotlight
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Proliferation of Digital Content
5.3.1.2 Increasing Focus and Spending on Digital Marketing
5.3.1.3 Evolution of Internet Services
5.3.1.4 Emergence of IoT Likely to Benefit the Growth of DAM Solution
5.3.2 Restraints
5.3.2.1 Lack of Awareness and Dependence on Traditional Approaches
5.3.3 Opportunities
5.3.3.1 AI in DAM
5.3.3.2 SaaS DAM Solutions Gaining Demand in the Market
5.3.4 Challenges
5.3.4.1 Perplexing Management of Continually Changing Digital Assets
6 Global Digital Asset Management Market Analysis By Component (Page No. - 33)
6.1 Introduction
6.2 Solutions
6.2.1 Market Estimates And Forecasts, By Region, 20162023 (USD Million)
6.3 Services
6.3.1 Consulting
6.3.1.1 Market Estimates and Forecasts, By Region, 20162023 (USD Million)
6.3.2 System Integration
6.3.2.1 Market Estimates and Forecasts, By Region, 20162023 (USD Million)
6.3.3 Support And Maintenance
6.3.3.1 Market Estimates and Forecasts, By Region, 20162023 (USD Million)
7 Market Analysis By Application (Page No. - 38)
7.1 Introduction
7.2 Enterprise
7.3 Marketing
7.4 Broadcasting and Publishing
8 Global Market Analysis By Deployment Type (Page No. - 43)
8.1 Introduction
8.2 Cloud
8.3 On-Premises
9 Global Digital Asset Management Market Analysis By Organization Size (Page No. - 47)
9.1 Introduction
9.2 SMES
9.3 Large Enterprises
10 Global Market Analysis By Vertical (Page No. - 51)
10.1 Introduction
10.2 Media and Entertainment
10.3 Banking, Financial Services, and Insurance (BFSI)
10.4 Consumer Goods and Retail
10.5 Manufacturing
10.6 Healthcare and Life Sciences
10.7 Education
10.8 Travel and Tourism
10.9 Others
11 Global Digital Asset Management Market Geographic Analysis (Page No. - 60)
11.1 Introduction
11.2 North America
11.2.1 Market Size, By Component
11.2.2 Market Size, By Services Type
11.2.3 Market Size, By Application
11.2.4 Market Size, By Deployment Type
11.2.5 Market Size, By Organization Size
11.2.6 Market Size, By Vertical
11.3 Europe
11.3.1 Market Size, By Component
11.3.2 Market Size, By Services Type
11.3.3 Market Size, By Application
11.3.4 Market Size, By Deployment Type
11.3.5 Market Size, By Organization Size
11.3.6 Market Size, By Vertical
11.4 APAC
11.4.1 Market Size, By Component
11.4.2 Market Size, By Services Type
11.4.3 Market Size, By Application
11.4.4 Market Size, By Deployment Type
11.4.5 Market Size, By Organization Size
11.4.6 Market Size, By Vertical
11.5 MEA
11.5.1 Market Size, By Component
11.5.2 Market Size, By Services Type
11.5.3 Market Size, By Application
11.5.4 Market Size, By Deployment Type
11.5.5 Market Size, By Organization Size
11.5.6 Market Size, By Vertical
11.6 Latin America
11.6.1 Market Size, By Component
11.6.2 Market Size, By Services Type
11.6.3 Market Size, By Application
11.6.4 Market Size, By Deployment Type
11.6.5 Market Size, By Organization Size
11.6.6 Market Size, By Vertical
12 Competitive Landscape (Page No. - 78)
12.1 Microquadrant Overview
12.1.1 Visionary Leaders
12.1.2 Innovators
12.1.3 Dynamic Differentiators
12.1.4 Emerging Companies
12.2 Competitive Benchmarking
12.2.1 Strength of Product Portfolio
12.2.2 Business Strategy Excellence
13 Company Profiles (Page No. - 82)
(Business Overview, Company Scorecard, Recent Developments)*
13.1 Adam Software Nv (Aprimo)
13.1.1 Overview
13.1.2 Company Scorecard
13.1.2.1 Strength Of Product Portfolio
13.1.2.2 Business Strategy Excellence
13.1.3 Recent Developments
13.2 Adobe Systems Incorporated
13.2.1 Overview
13.2.2 Company Scorecard
13.2.2.1 Strength Of Product Portfolio
13.2.2.2 Business Strategy Excellence
13.2.3 Recent Developments
13.3 Opentext Corporation
13.3.1 Overview
13.3.2 Company Scorecard
13.3.2.1 Strength Of Product Portfolio
13.3.2.2 Business Strategy Excellence
13.3.3 Recent Developments
13.4 Celum
13.4.1 Overview
13.4.2 Company Scorecard
13.4.2.1 Strength Of Product Portfolio
13.4.2.2 Business Strategy Excellence
13.4.3 Recent Developments
13.5 Mediabeacon, INC.
13.5.1 Overview
13.5.2 Company Scorecard
13.5.2.1 Strength of Product Portfolio
13.5.2.2 Business Strategy Excellence
13.5.3 Recent Developments
13.6 Canto, Inc.
13.7 Widen Enterprises, Inc.
13.8 Webdam (A Shutterstock Company)
13.9 Bynder
13.10 Northplains
13.11 Mediavalet, Inc.
13.12 Cognizant
*Details on Business Overview, Company Scorecard, Recent Developments Might Not Be Captured in Case of Unlisted Companies.
14 Appendix (Page No. - 119)
14.1 Key Industry Insights
14.2 Discussion Guide
14.3 Knowledge Store: Marketsandmarkets Subscription Portal
14.4 Introduction RT: Real-Time Market Intelligence
14.5 Available Customizations
14.6 Related Reports
14.7 Author Details
List of Tables (60 Tables)
Table 1 USD Exchange Rate, 20142016
Table 2 Evaluation Criteria
Table 3 Global Digital Asset Management Market Size and Growth Rate, 20152022 (USD Million, Y-O-Y %)
Table 4 Global Market Size, By Component, 20152022 (USD Million)
Table 5 Solution: Market Size, By Region, 20152022 (USD Million)
Table 6 Services: Market Size, By Service Type, 20152022 (USD Million)
Table 7 Consulting Services Market Size, By Region, 20152022 (USD Million)
Table 8 System Integration Market Size, By Region, 20152022 (USD Million)
Table 9 Support and Maintenance Market Size, By Region, 20152022 (USD Million)
Table 10 Global Digital Asset Management Market Size, By Application, 20152022 (USD Million)
Table 11 Enterprise: Market Size, By Region, 20152022 (USD Million)
Table 12 Marketing: Market Size, By Region, 20152022 (USD Million)
Table 13 Broadcasting and Publishing: Digital Asset Management Market Size, By Region, 20152022 (USD Million)
Table 14 Global Market Size, By Deployment Type, 20152022 (USD Million)
Table 15 Cloud: Market Size, By Region, 20152022 (USD Million)
Table 16 On-Premises: Digital Asset Management Market Size By Region, 20152022 (USD Million)
Table 17 SMES Segment to Record Higher CAGR, By Organization Size, 2017-2022 (USD Million)
Table 18 Global Digital Asset Management Market Size, By Organization Size, 20152022 (USD Million)
Table 19 SMES: Market Size, By Region, 20152022 (USD Million)
Table 20 Large Enterprises: Market Size, By Region, 20152022 (USD Million)
Table 21 Global Market Size, By Vertical, 20152022 (USD Million)
Table 22 Media and Entertainment: Market Size, By Region, 20152022 (USD Million)
Table 23 BFSI: Market Size, By Region, 20152022 (USD Million)
Table 24 Consumer Goods and Retail: Market Size, By Region, 20152022 (USD Million)
Table 25 Manufacturing: Digital Asset Management Market Size, By Region, 20152022 (USD Million)
Table 26 Healthcare and Life Sciences: Market Size, By Region, 20152022 (USD Million)
Table 27 Education: Market Size, By Region, 20152022 (USD Million)
Table 28 Travel and Tourism: Market Size, By Region, 20152022 (USD Million)
Table 29 Others: Market Size, By Region, 20152022 (USD Million)
Table 30 Global Market Size, By Region, 20152022 (USD Million)
Table 31 North America: Digital Asset Management Market Size, By Component, 20152022 (USD Million)
Table 32 North America: Market Size, By Service Type, 20152022 (USD Million)
Table 33 North America: Market Size, By Application, 20152022 (USD Million)
Table 34 North America: Market Size, By Deployment Type, 20152022 (USD Million)
Table 35 North America: Market Size, By Organization Size, 20152022 (USD Million)
Table 36 North America: Market Size, By Vertical, 20152022 (USD Million)
Table 37 Europe: Digital Asset Management Market Size, By Component, 20152022 (USD Million)
Table 38 Europe: Market Size, By Service Type, 20152022 (USD Million)
Table 39 Europe: Market Size, By Application, 20152022 (USD Million)
Table 40 Europe: Market Size, By Deployment Type, 20152022 (USD Million)
Table 41 Europe: Market Size, By Organization Size, 20152022 (USD Million)
Table 42 Europe: Market Size, By Vertical, 20152022 (USD Million)
Table 43 APAC: Digital Asset Management Market Size, By Component, 20152022 (USD Million)
Table 44 APAC Market Size, By Service Type, 20152022 (USD Million)
Table 45 APAC: Market Size, By Application, 20152022 (USD Million)
Table 46 APAC: Market Size, By Deployment Type, 20152022 (USD Million)
Table 47 APAC: Market Size, By Organization Size, 20152022 (USD Million)
Table 48 APAC: Market Size, By Vertical, 20152022 (USD Million)
Table 49 MEA: Digital Asset Management Market Size, By Component, 20152022 (USD Million)
Table 50 MEA: Market Size, By Service Type, 20152022 (USD Million)
Table 51 MEA: Market Size, By Application, 20152022 (USD Million)
Table 52 MEA: Market Size, By Deployment Type, 20152022 (USD Million)
Table 53 MEA: Market Size, By Organization Size, 20152022 (USD Million)
Table 54 MEA: Market Size, By Vertical, 20152022 (USD Million)
Table 55 Latin America: Digital Asset Management Market Size, By Component, 20152022 (USD Million)
Table 56 Latin America: Market Size, By Service Type, 20152022 (USD Million)
Table 57 Latin America: Market Size, By Application, 20152022 (USD Million)
Table 58 Latin America: Market Size, By Deployment Type, 20152022 (USD Million)
Table 59 Latin America: Market Size, By Organization Size, 20152022 (USD Million)
Table 60 Latin America: Market Size, By Vertical, 20152022 (USD Million)
List of Figures (33 Figures)
Figure 1 Digital Asset Management Market Segmentation
Figure 2 Regional Scope
Figure 3 Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Digital Asset Management Market: Assumptions
Figure 9 Top 3 Segments for Global Market in 2017
Figure 10 North America to Hold Largest Market Share in 2017
Figure 11 AI and Software-As-A-Service (SaaS) Model for DAM to Act as Attractive Market Opportunities, 2017-2022
Figure 12 Media and Entertainment Vertical and North America to Hold Largest Market Shares in 2017
Figure 13 Cloud Deployment Segment to Record Higher CAGR, 2017-2022 (USD Million)
Figure 14 Services Segment to Record Higher CAGR, 2017-2022 (USD Million)
Figure 15 SMES Segment to Record Higher CAGR, 2017-2022 (USD Million)
Figure 16 APAC to Record Highest CAGR, 2017-2022 (USD Million)
Figure 17 APAC and MEA are Fastest-Growing Regions in Global Market
Figure 18 Digital Asset Management Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Services Segment to Record Higher CAGR, By Component, 2017-2022 (USD Million)
Figure 20 Enterprise Segment to Record Highest CAGR, By Application, 2017-2022 (USD Million)
Figure 21 Cloud Segment to Record Higher CAGR, By Deployment Type, 2017-2022 (USD Million)
Figure 22 Consumer Goods and Retail Segment to Record to Record Highest CAGR, By Vertical, 2017-2022 (USD Million)
Figure 23 APAC to Record Highest CAGR in Global Market, 2017-2022 (USD Million)
Figure 24 Regional Snapshot: APAC is the Emerging Region in Digital Asset Management Market
Figure 25 North America: Market Snapshot
Figure 26 APAC: Market Snapshot
Figure 27 Competitive Leadership Mapping - 2017
Figure 28 Adobe Systems Incorporated: Company Snapshot
Figure 29 Opentext Corporation: Company Snapshot
Figure 30 Mediabeacon, Inc.: Company Snapshot
Figure 31 Webdam: Company Snapshot
Figure 32 Mediavalet, Inc.: Company Snapshot
Figure 33 Cognizant: Company Snapshot
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