The report "Digital Asset Management Best Practices and Market by application (Asset Management, Digital Asset Management Integration, Intellectual Property Management, Social Media Management, and Analytics) - Global Forecast to 2022", Digital asset management is adopted by companies across the globe to reduce the rising costs and to standardize business processes across the organization. Thus, due to increased digitization and mobility among enterprises, digital asset management providers are increasing their efforts to boost their revenues. MarketsandMarkets forecasts the digital asset management market to grow from USD 2.4 billion in 2017 to USD 5.7 billion by 2022, at a CAGR of 18% during the forecast period.
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The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period. The APAC region comprises emerging economies, such as China, India, Japan, Singapore, Malaysia, and Australia. This region is likely to witness a surge in the implementation of digital asset management systems. This can be majorly attributed to the rise in demand for digital marketing and proliferation of digital content, considering large companies in the US and the UK are targeting developing regions and new avenues in the APAC region.
Digital asset management includes managed business, network, security, data center, and mobility services. There are several renowned vendors in the digital asset management market, such as Adobe Systems Incorporated (U.S.), OpenText Corporation (Canada), Bynder (Netherlands), MediaBeacon, Inc. (US), Cognizant (US), CELUM (Austria), Canto, Inc. (US), and Widen (US).
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