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 in the market include ADAM Software NV, Adobe Systems Incorporated, Canto Inc., CELUM GmbH, Cognizant Technology Solutions Corporation, Extensis, 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.

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