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Digital Asset Management (DAM) - Global Market Trajectory & Analytics

  • ID: 3726984
  • Report
  • October 2020
  • Region: Global
  • 721 pages
  • Global Industry Analysts, Inc
COVID-19 Will Lead the Growth of Corporate Digital Assets. DAM Market to Reach $15.4 Billion

The global market for Digital Asset Management (DAM) is projected to reach US$15.4 billion by the year 2027, trailing a post COVID-19 CAGR of 22.2% over the analysis period 2020 through 2027. The year 2020 is the inflection point for digital transformation for companies around the world. The COVID-19 pandemic has been disruptive for several industries creating a significant challenge for operating their businesses. The pandemic is reinforcing the need for digital transformation enterprises to modernize their information infrastructure to better respond to changing market conditions. Digital technologies play an important role in maintaining operations and facilitating organizations make data-driven investment decisions. Organizations face various challenges in form of significant change in customer consumption patterns and restrictions in terms of workers in house. With millions of employees being displaced and relocated to work from home environments, there is a significant growth in hardware and software relocations and deployments. The new normal in the work environments has made it evident that companies are required to make content and data more accessible to sustain and thrive in the challenging environment.

Higher intelligence and automation is taking precedence over outsourcing and cheap labor, making artificial intelligence & IoT vital capabilities to have. Companies are today forced to invest in real-time collaboration, digital workflow automation, remote operations, omni-channel self-service, cloud computing & virtualization. The shift to digital & migration from on-premises to cloud is expected to significantly increase digital assets of companies. To ensure effective management & monetization of these assets, Digital Asset Management (DAM) is one technology that every company will need to invest in. Demand for Digital Asset Management (DAM) is therefore expected to remain progressive, amid increased emphasis on ensuring transparency, resiliency, and security across the complete lifecycle of enterprise digital assets. In order to better deal with remote employees, supply chain activities, and product/service promotion programs, enterprises across industries are emphasizing better DAM strategies that encompass various digital assets including digital documents, motion pictures, and audible content, intended for circulation or for storing on digital devices such as computers and smartphones. With consumers relying on online transitions for their various needs, either for purchases, or banking, or communication, the need to ensure safety and availability of relevant digital assets for service providers has become more important than ever before. As enterprises focus on reinforcing their digital strategies to better cater to their growing base of online customers and leverage a safe, secure and reliable WFH environment, DAM vendors are experiencing robust demand for their DAM solutions.

Cloud-hosted workflows and process automation boost efficiency as well as improve asset traceability and quality control while simplifying control of digital content. In enterprises with huge burgeoning repositories, the absence of effective digital content management systems and workflows often leads to employees wasting substantial man-hours for locating and retrieving required files from the repositories, or producing poor quality output by making do with whatever resources are at hand due to the hassle of finding appropriate content from among the millions of stored files. Effective infrastructure, strategies, and mechanisms are therefore required for previewing, retrieving, transforming, distributing and sharing new and existing digital files in order to extract the maximum value from the existing inventory of digital assets. Digital asset management solutions benefit organizations by allowing them to place all their assets at a centralized digital location from where these assets can be easily accessed by anyone irrespective of their location. These solutions also enable seamless digital collaboration with external and internal stakeholders by allowing all authorized users, including team members and freelancers, to receive notifications, make annotations, and give feedbacks. Moreover, with a digital asset management solution, efficient workflows can be created and different authorization and supervision levels can be managed with ease. Workflows can be further enhanced by taking advantage of the digital asset management software's full version control functionality. Digital asset management solutions also offer businesses the required effectiveness, speed, and security while managing their digital assets. DAM software enables timely creation, delivery and curation of content in a self-service web portal. The incorporation of AI technologies and machine learning in DAM solutions enable visual and voice activated search of content libraries. Real-time digital asset management facilitates on-demand content delivery across platforms, screens and devices.

Competitors identified in this market include, among others:
  • ADAM Software NV
  • Adobe Inc.
  • Canto Inc.
  • CELUM GmbH
  • Cognizant Technology Solutions Corporation
  • Extensis
  • MediaBeacon Inc.
  • North Plains Systems Corp.
  • Nuxeo
  • OpenText Corp.
  • Oracle Corporation
  • WebDAM
  • Widen Enterprises, Inc.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • COVID-19 Highlights Need for Digital Asset Management in Modern Working Environment
  • Digital Asset Management (DAM): A Powerful Tool for Tackling Explosive Growth in Digital Media Content
  • Myriad Benefits Offered Drive Demand
  • Outlook
  • Developed Regions: Key Revenue Contributors
  • Developing Regions Offer Strong Growth Opportunities
  • Cloud Models Drive Opportunities
  • EXHIBIT 1: Global DAM Market by Deployment Type (2020 & 2027P): Percentage Breakdown of Revenues for On-Premise and Cloud DAM
  • SMBs to Accelerate Adoption
  • Competitive Landscape
  • DAM Landscape Remains Highly Fragmented
  • Customization of DAM Solutions: A Double-Edged Sword
  • Vendors Expand Portfolio with Cloud Based Offering
  • Recent Market Activity
  • World Brands
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Key Trends Shaping Digital Asset Management Going Forwards
  • Development of Content Hubs
  • DAM for Collaboration: The Future of the Digital World
  • Integration of AI to Gain Pace
  • AI Transforms Digital Asset Management into Agile, Dynamic Platform
  • Integration of AI with Digital Asset Management Holds Intriguing Prospects for Marketers
  • AI-based Digital Asset Management for Content Creation, Distribution & Search
  • Limitations of Artificial Intelligence
  • Integration of DAM Software with Other Enterprise Software Offers Improved Prospects
  • DAM Software Demand Amid an Era of Connected Things
  • EXHIBIT 2: Global Number of IoT Connected Devices (In Billion) for the Years 2016, 2018, 2020, 2022 & 2025
  • Integration of Business Analytics Tools into DAM Software Yields Rich Dividends
  • Spotlight on Contextual, Discovery-Centric and Metadata to Accelerate Asset Retrieval
  • Hybrid Cloud DAM: A Viable Option
  • On-Premise Vs Cloud DAM
  • Transition to Consumer-Driven Digital Advertising and Marketing Sets the Stage for DAM
  • EXHIBIT 3: US Average Time Spent in Minutes by Adult Consumer on Various Media: 2020
  • Digital Asset Management Offers Perfect Component to Make Brands Tick
  • DAM in Media and Entertainment
  • EXHIBIT 4: Rising Popularity of OTT Services Bodes Well for Market Prospects: Global Number of OTT Video Users (In Million) for the Years 2019, 2021, 2023 & 2025
  • DAM Systems Shaves-off Cost of Content Marketing Activities
  • Changing Landscape Demands Agile Marketing Teams: A Strong Business Case for DAM Solutions
  • Digital Asset Management Software Gains Traction in Retail Industry
  • EXHIBIT 5: Digital Transformation in Retail Industry Promises Lucrative Growth Opportunities: Global Retail IT Spending (In US$ Billion) for the Years 2018, 2020, 2022 & 2024
  • Focus on Consumer Experience Drives DAM Adoption in E-Commerce
  • EXHIBIT 6: Global Ecommerce as % of Retail: 2015-2025
  • Enterprise DAM Software Finds a Prominent Place in IT Infrastructure of Large Scale Enterprises
  • BFSI: A Major End-Use Sector
  • DAM Gains Relevance in Manufacturing Sector Amid Ongoing Automation Drive
  • Industry 4.0 & Smart Factory to Steer Future Expansion
  • EXHIBIT 7: Global Investments on Industry 4.0 Technologies (in US$ Billion) for the Years 2019 & 2023
  • Electronification of Healthcare Instigates Demand for DAM
  • Application of Digital Asset Management (DAM) in Life Sciences
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 252
Note: Product cover images may vary from those shown
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