The Digital Asset Management Market is expected to grow at a CAGR of 18.23% over the forecast period. The scope of the market covers brand asset management systems, library asset management systems, and production asset management systems.
Japan to Witness the Fastest Growth in Asia-Pacific
Digital asset management is expected to see a significant investment in Japan over the forecast period. Multiple private Japanese organizations are expected to offer digital asset management solutions to banks as well as other government and private industries.
In 2017, Japanese bankers association (JPA) would be employing cloud service based block-chain platforms developed by Fujitsu. One of the primary drivers for the digital asset management industry is the increased adoption of broadband internet, which is increasing the demand for specialized solutions in each industry.
In 2017, it was estimated that approximately 94% of the population had access to the internet in Japan, with broadband speeds witnessing new records with each passing year. This has resulted in the generation of huge quantities of digital content and data, which is expected to act as a major driving factor for Digital Asset Management Market.
Moreover, Japan has officially recognized Bitcoin and digital currencies as money, which has resulted in an increase in the number of digital assets in Japan, thereby, proportionately boosting the demand for digital asset management solutions in this region.
Media & Entertainment to Witness the Fastest Growth
The entertainment sector requires data transfer (handle images, video, and music files) among multiple sources and the digital asset management (DAM) plays a significant role in providing the access and managing the data in an easy manner. With the help of a DAM system, the media & entertainment companies have been identified to become more efficient and effective in creating, managing, sharing, archiving, and analyzing large volumes of digital assets with a centralized network solution.
Considering the high adoption of digital asset management in the media and entertainment sector, the market for media and entertainment in digital asset management is expected to grow lucratively during the forecast period. Damdy, a digital asset management company, has recently organized and streamed the general media of French Federation of Judo to the general public by using a single media center for all digital content with a cloud encoding solution to handle peak activity period.
Such activities are expected to promote the growth of entertainment & media segment over the forecast period.
The major players include in Digital Asset Management Market –
- ADAM SOFTWARE,
- CANTO INC.,
- CELUM GMBH,
- COGNIZANT TECHNOLOGY SOLUTIONS CORP,
- ORACLE CORPORATION,
- HEWLETT-PACKARD COMPANY,
- OPENTEXT CORPORATION,
- NORTH PLAINS SYSTEMS CORP,
- WEBDAM INC.,
- EMC CORPORATION, MEDIABEACON, INC.,
- WIDEN ENTERPRISES INC.,
- IBM CORPORATION, among others.
Increasing Adoption of Cloud Solutions to Drive the Cloud-based Deployment of DAM
The cloud-based deployment model aids in collecting large volumes of server-storage resources into an integrated solution, while also providing backup of user database on different servers to guarantee data reliability. Companies worldwide have been identified to deploy cloud-based software as it is cost efficient when compared to the other deployment models.
The cloud-based application management systems provide access to the digital media irrespective of time and location with a secure access to the critical business data from any device connected to the web. With organizations becoming more mobile-oriented and the trend of BYOD gaining traction worldwide, the cloud-DAM is witnessing an increasing adoption rate as it provides an intuitive user experience, security, and easy access to the digital assets.
On the basis of types, Digital Asset Management Market segmented as follows;
- Brand Asset Management Systems
- Library Asset Management Systems
- Production Asset Management Systems
On the basis of Solutions, Digital Asset Management Market segmented as follows;
- Video Management
- Creative Tool Integration
- Asset Analytics
- Web Content Integration
- Brand Portals
- Asset and Metadata Archiving
- Lifecycle and Rights Management
Key Developments in the Digital Asset Management Market:
March 2017 - Aprimo acquired ADAM Software. With this acquisition, Aprimo hopes to integrate ADAM directly into Aprimo’s platform, facilitating customers with marketing operations solution, capable of handling both the production as well as the publication of content.
This is expected to result in bringing rich media quickly to market and to create a world-class customer experiences at scale.
January 2017 - SoftServe and ADAM Software underwent a strategic partnership. This partnership allows SoftServe to couple the company's deep engineering capabilities and leading digital design expertise to ADAM’s DAM and PIM solutions, which would help organizations create, manage, and deliver digital content that can ensure consistency across various channels.
Reasons to Acces Digital Asset Management Market Report:
- Current and future Digital Asset Management Market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Identifying the segments that are expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel).
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