The Global Market for Digital Asset Management (DAM) Software is Forecast to Reach US$5.8 Billion by 2022
Explosive Growth in
Digital Media & Shift to Consumer-Driven Digital Marketing Spur Demand for
Digital Asset Management Software, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, size and
demand forecasts on the global Digital Asset Management (DAM) Software market. The
global market for Digital Asset Management (DAM) Software is forecast to reach
US$5.8 billion by 2022, driven by the burgeoning volumes and densities of
valuable digital assets, the ongoing migration from traditional marketing to
real-time consumer driven digital marketing strategies, and the development of
innovative DAM products and delivery models.
With
digital content being rapidly generated in multifarious formats and stored
across multiple devices, an average company loses about US$10,000 annually due
to mismanagement of assets. Against this backdrop, DAM software is fast becoming one of the pillars of
the overall content management and knowledge management strategies of organizations.
DAM software offers a
host of media-intelligent tools that support end-users in creating and managing
a database for uploading, storing, organizing, distributing and marketing
rich-media digital files with simple and cost-effective workflow across
departmental silos and regions. DAM provides scalable storage systems, advanced metadata
management to facilitate tracking of files and interlinking of files stored in
the centralized repository, and efficient workflows that streamline costs and
marketing activities across silos and vast geographic regions. Together with
Digital Rights Management (DRM) software, DAM software enables organizations to
exercise command over their digital asset rights and avoid infringing on rights
of other entities. Workflow collaboration emerges as one of the major factors
driving the DAM market.
The
ongoing transition of brands from unidirectional traditional communication to
bidirectional, consumer-driven, and real-time digital marketing strategies are driving
the indispensability of DAM software for marketers and media and creative
agencies. DAM
software delivers agility to marketing and creative teams and instils greater
transparency into the ROI on digital assets. The increasing influx of marketing technologists
is expected to spur the implementation of DAM solutions. Media and
Entertainment companies are keen on adopting Media
Asset Management Software, to ease the burden of the ballooning digital media content densities on existing
storage systems and workflows. The growing need for automating marketing activities
and delivering multi-channel and multi-device communication is driving the
uptake of DAM software among retailers across the globe. Innovative DAM
software products and delivery models are catalyzing growth in the market, with
vendors focusing on integrating contextual, discovery-centric and semantic
metadata approaches in order to accelerate asset retrieval. Hybrid
Cloud DAM Systems leveraging the
best of cloud and on-premise solutions represent potential game changers in the
market.
As stated by the new market
research report on Digital
Asset Management (DAM) Software, the United States represents the
largest market worldwide. Asia-Pacific ranks as the fastest growing market with
a CAGR of 29.6% over the analysis period, led by increased brand building
activity in emerging Asian countries against the backdrop of the ongoing digital
transformation of the emerging base of affluent middle class consumers, rapidly
growing investments in digital marketing, and growing focus on deploying data
warehousing and big data projects to enhance the success of data-driven marketing.
Major players covered in the
report include ADAM Software NV, Adobe Systems Incorporated, Canto Inc., CELUM
GmbH, Cognizant Technology Solutions Corporation, EMC Corporation, Extensis,
Hewlett-Packard Enterprise, MediaBeacon Inc., North Plains Systems Corp.,
Nuxeo, OpenText Corp., Oracle Corporation, QBNK Company AB, WebDAM, and Widen
Enterprises, Inc., among others.
The research report titled “Digital
Asset Management (DAM) Software: A Global Strategic Business Report”
announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers,
acquisitions and other strategic industry activities of global companies. The
report provides market estimates and projections for major geographic markets
including the United States, Canada, Japan, Europe (France, Germany, Italy, UK,
Spain, Russia, Rest of Europe), Asia-Pacific (China, India, and of
Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of
World.
Global Industry Analysts, Inc. 6150 Hellyer
Ave., San Jose CA 95138, USA, All Rights Reserved.
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