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. The strategic acquisition is an important tactic adopted by key market players to develop new services and gain traction in the digital asset management market. 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.
Digital asset management is a systematic organization, storage, management and retrieving of media, documents, images and other digital files (like animation) for efficient use in marketing, sales, content creation, and other organizational activities. Digital Asset Management solutions and services assist in streamlining the organizational processes of managing all digital assets by creating a centralized repository for all the digital assets that can be searched, shared, managed, and accessed between different functional departments of the organization and channel and technology partners in the real time.
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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).
Adobe Systems (US) founded in 1982 is a global provider of analytics, social targeting, media optimization, digital experience management, cross-channel campaign management, audience management, and video solutions. Adobe segments its business into three categories - digital media, digital marketing, and print and publishing. It provides its products and services through distributors, value-added resellers, system integrators, independent software vendors, retailers, software developers, and original equipment manufacturers, in addition to its direct sales force, online website, and app stores. The company provides its DAM offerings through the marketing cloud. It caters to both large enterprises and SMEs, providing services in diverse industries, such as media and entertainment, banking, and e-commerce. The company has its presence across North America, Europe, APAC, and MEA.
Bynder (Netherlands) is a leading cloud-based brand management and a marketing resource management software provider, which was founded in 2013 and is headquartered in Amsterdam, Netherlands. The company provides DAM services, market resource management, and brand automation, which help the users to send, manage, create, and edit marketing and branding materials. Bynder’s brand portals are used by more than 150,000 brand managers and marketers globally. Bynder has its offices in Boston, Rotterdam, Barcelona, London, and Dubai. The company also provides a wide range of marketing services, with its presence in the Netherlands, UK, US, Spain, and the UAE.
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
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