How Has The Digital Asset Management Market Size Evolved Historically?
The digital asset management market has seen considerable growth due to a variety of factors.
• In recent years, the scale of the digital asset management market has expanded swiftly. It's projected to rise from a worth of $6.46 billion in 2024 to $7.38 billion in 2025, with a compound annual growth rate (CAGR) of 14.2%.
The market's growth during the historic period can be linked to the rising needs for content creation and distribution, maintaining a consistent brand identity, complying with regulatory requirements, and the increase in visual content.
How Will The Digital Asset Management Market Size Evolve In The Foreseeable Future?
The digital asset management market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the digital asset management market size to expand rapidly in the upcoming years. With a compound annual growth rate (CAGR) of 19.0%, the market is anticipated to reach $14.78 billion by 2029. This projected growth can be linked to the increasing demand for video and rich media management, dynamic content delivery and personalization, as well as a focus on user experience (UX) design. During the forecast period, significant trends to watch include automated workflow orchestration, real-time analytics and reporting, mobile accessibility and collaboration, and the use of facial and object recognition for asset management, in addition to features related to compliance and governance.
What Are The Core Factors Supporting Growth In Digital Asset Management Market?
The escalating need for flexibility and remote work options is predicted to thrust the development of the digital asset management market forward. The surge in this method of work, where employments are not confined to traditional office facilities and workers have the liberty to decide their work timings, is fueled by the ongoing technological advancements. These advancements include robust internet connectivity, cloud technology, and cooperative tools that have made remote working effortless. Furthermore, the rising focus on balancing work and personal life has steered companies towards incorporating flexible work styles. Digital Asset Management (DAM) systems buttress remote work by providing a unified access point to all digital assets, facilitate seamless collaboration, secure sharing protocols and efficient workflow patterns. As a result, teams have the capability to manage projects successfully and sustain brand consistency regardless of their location. For example, AT&T Inc., a telecom company based in the US, stated in February 2022 that the anticipated percentage of companies adopting a hybrid work style, where staff alternate between working remotely and from an office location, is expected to leap from 42% in 2021 to 81% by 2024. Consequently, the rising need for flexibility and remote work is set to fuel the growth of the digital asset management market.
What Are The Core Segments Of The Globa Digital Asset Management Market?
The digital asset management market covered in this report is segmented –
1) By Type: Solution, Services
2) By Deployment Type: On-Premises, Cloud
3) By Enterprise Size: Large Enterprises, Small And Medium-sized Enterprises (SMEs)
4) By Application: Sales, marketing, IT, Photography, Graphics And Designing, Other Applications
5) By End User: Media And Entertainment, BFSI, Retail, Healthcare, Automotive And Manufacturing, Other End Users
Subsegments:
1) By Solution: Cloud-Based Solutions, On-Premises Solutions, Mobile Applications, Digital Rights Management (DRM) Solutions
2) By Services: Implementation Services, Consulting Services, Support And Maintenance Services, Training Services
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Which Emerging Trends Are Reshaping The Digital Asset Management Market Size?
Prominent firms in the digital asset management sector are launching advanced next-gen platforms to boost their market profitability. A next-generation digital asset management (DAM) platform embodies a sophisticated and inventive solution that consolidates, stores, retrieves, and disseminates digital assets within a corporation effectively. For example, in August 2023, Blueprint, a UK-based firm providing digital asset management solutions, introduced an innovative digital asset management platform that centralizes data, insights, and instruments. This platform assists investors, constructors, and service providers in proficiently supervising, managing, and enhancing their portfolios. Its goal is to alleviate the obscurity in digital asset portfolio management by dealing with fragmentation in the industry and simplifying complex staking processes for its users. The platform currently supports 10 blockchain networks and runs on proprietary nodes at no charge for the users. Blueprint concentrates on creating a comprehensive blockchain platform that incorporates L1s for fungible and non-fungible assets, amassing data from several sources. It primarily intends to make staking straightforward through step-by-step tutorials and supportive services for staked assets, including the capability to view prior snapshots by reversing time.
Who Are the Key Players in the Digital Asset Management Market?
Major companies operating in the digital asset management market include:
• IBM Corporation
• Oracle Corporation
• Adobe Inc.
• OpenText Corporation
• Bynder B.V.
• Sitecore Corporation A/S
• Aprimo LLC
• Cloudinary Ltd.
• Censhare AG
• CELUM GmbH
• WoodWing Software BV
• Brandfolder Inc.
• Wedia SA
• Widen Enterprises Inc.
• MarcomCentral
• Canto Inc.
• BrandMaker GmbH
• MediaValet Inc.
• Nuxeo Corporation
• Digizuite A/S
• Bright Interactive Holdings Ltd.
• IntelligenceBank Pty. Ltd.
• North Plains Systems lnc.
• MediaBeacon Inc.
• Webdam Inc.
• Filecamp ApS
• Picturepark AG
• Daminion Software
• Image Relay Inc.
• MerlinOne Inc.
• Pimcore GmbH
• Third Light Ltd.
What are the Regional Insights into the Digital Asset Management Market?
North America was the largest region in the digital asset management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital asset management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
