HOME Research Insight New Product Developments to Achieve Growth in the Digital Asset Management Market.

New Product Developments to Achieve Growth in the Digital Asset Management Market.

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, the digital asset management providers are increasing their efforts to boost their revenues. Strategic acquisition is an important strategy 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 size to grow from USD 2.44 Billion in 2017 to USD 5.66 Billion by 2022, at a CAGR of 18.3%.

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), Northplains (Canada), Mediavalet, Inc. (Canada), and Cognizant (U.S.). These players have adopted various strategies such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments to achieve growth in the digital asset management market.

OpenText Corporation, with great prominence in the DAM market space around the globe, is aspiring to become the top market provider of digital asset management focusing on media & production and content marketing. The company provides business process management, customer experience management, enterprise content management, discovery, and analytics & reporting. In July 2016, OpenText acquired Recommind, Inc. (U.S.), a leading provider of eDiscovery and information analytics. This acquisition will help OpenText to integrate new solutions like contact analysis, information governance, and eDiscovery investigation into their existing solutions. In February 2017, OpenText acquired Documentum (U.S.), a provider of enterprise content management (ECM) solutions.

Adobe Systems Incorporated is another top player catering the digital asset management market. The company provides the Adobe experience manager which supports creative cloud integration, search and metadata management, project workflow management, dynamic media management, smart tags and analytics, and self-service portal. In December 2016, Adobe acquired TubeMogul (U.S.), a leader in video advertising. This acquisition helped Adobe in deploying an easy-to-use advertising and data management solution. Furthermore, in March 2017, Adobe extended its partnership with Microsoft (U.S.) to deliver a joint solution for transforming cross-channel customer experiences and campaign orchestration. Among other integrations, the partnership enables the integration of Adobe Analytics with Microsoft Power BI. This integration allows users to pull and analyze behavioral data into Power BI.

Related Reports:

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

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