(MENAFN- EIN Presswire)

digital asset management market

The rise in the need for collaborative digital workflow, especially for marketing activities

WILMINGTON, NEW CASTLE, DE, UNITED STATES, February 21, 2025 /EINPresswire / -- The global Digital Asset Management Market was valued at $4.9 billion in 2022, and is projected to reach $20.6 billion by 2032, growing at a CAGR of 15.8% from 2023 to 2032. Digital asset management (DAM) solutions help end users organize, store, and access rich media content that includes video, image, audios, and text. In addition, DAM solutions are used to manage the digital rights and permission access of digital assets of an organization. Furthermore, businesses have shifted toward digitalization and increased implementation of Industry 4.0 to cope with ongoing tough business competition, which creates the need for seamless solution and platform to meet the businesses requirements, which eventually boost the adoption of digital asset management in businesses.

Download Sample Report (Get Full Insights in PDF - 363 Pages) at:

The rise in the need for collaborative digital workflow, especially for marketing activities, encouraged organizations to use advanced digital asset management solutions. In addition, growth in the need to meet the government's compliance is anticipated to accelerate the market growth. Moreover, increasing adoption of cloud-based DAM solutions, growth in e-commerce and digital marketing and rising demand for video content are also propel the growth of the market.

Furthermore, expansion of AI and machine learning capabilities in DAM and growing importance of data analytics and insights for digital asset management, are expected to drive the growth of the market during the forecast period. However, high initial investments, concerns over data security, privacy & compliance with regulations and the lack of a skilled workforce are some of the factors that are anticipated to hinder market growth.

Buy Now & Get Exclusive Discount on this Report : /purchase-options

In addition, the increase in demand for better security and privacy features in DAM systems and the emergence of blockchain-based digital asset management solutions are expected to propel the growth of the digital asset management market forecast. Moreover, increasing awareness of the benefits of DAM across industries and sectors such as BFSI, healthcare and government drives the growth of the market. Furthermore, increasing importance of digital assets for businesses of all sizes provides opportunities for DAM vendors to expand their customer base. However, concerns over data security, privacy, & compliance with regulations and the high initial costs of implementing a DAM system are anticipated to hinder the growth of the market.

The key players profiled in this report include

Aprimo
Adobe Inc.
Cognizant Technology Solutions Corporation
Dell EMC
Hewlett Packard Enterprise (HPE)
IBM Corporation
Oracle Corporation
OpenText Corporation
North Plains Systems
Widen Enterprises Inc.

The report provides a detailed analysis of these key players of the digital asset management market . These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Get Customized Reports with you're Requirements:

With many organizations transitioning to remote work, the need for cloud-based DAM solutions has increased significantly, as these solutions provide a secure and flexible way for teams to access and collaborate on digital assets from anywhere. In addition, the pandemic has increased the use of virtual events, webinars, and online meetings, which has created a need for DAM solutions to manage the associated digital assets, such as videos, slides, and images.

On the basis of component, the global digital asset management market size was dominated by the solution segment in 2022 and is expected to maintain its dominance in the upcoming years. Digital asset management (DAM) solutions help organizations efficiently store, organize, discover, share, and retrieve online content. That's mainly because businesses can deploy a centralized digital library fast and easily with DAM, providing controlled access to documents, images, multimedia, audio, and video in addition to improving data security sharing assets with employees, contractors, customers, and other stakeholders. However, the services segment is expected to witness the highest growth, as DAM services help to reduce the time and costs associated with optimizing systems in the initial phase of deployment.

Inquiry Before Buying:

Based on business function, the information technology (IT) segment accounted for the largest share in 2022, contributing for nearly about two-fifths of the digital asset management market revenue , the DAM solution plays a crucial role in the Information Technology (IT) segment, as it enables IT teams to efficiently manage and organize digital assets related to software, hardware, and infrastructure. However, the other segment is expected to portray the largest CAGR of 24.6% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. Factor such as growing use of AI and machine learning in DAM solutions, which will boost the market growth in the other segment.

Regional Analysis:

Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the digital asset management market revenue. The increase in usage of digital asset management solutions in businesses to improve businesses and the customer experience are anticipated to propel the growth of market in this region. However, the Asia-Pacific is expected to witness the fastest CAGR of 19.7% from 2023 to 2032, and is likely to enhance the market growth during the forecast period, owing to increase in penetration of advanced technology and higher adoption of cloud-based solutions and services.

Other Trending Reports:

digital signature market -

digital map market -

Digital Vault Market -

David Correa
Allied Market Research
+ 1 800-792-5285
email us here
Visit us on social media:
Facebook
X
LinkedIn
YouTube

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

MENAFN21022025003118003196ID1109233368