Global Digital Asset Management Market is expected to reach US$ 8.61 Bn by 2024 from US$ 2.39 Bn in 2016 at a CAGR of 20.1%

The report “Digital Asset Management Market” (By Component (Solution, and Services) –By Application (Enterprise, Broadcast and Publishing, and Marketing) –By Organization Size (Large Enterprises, and Small & Medium Enterprises) –By Deployment Model (Hosted/on-Cloud, and On-Premises) –By Vertical (Education, Media and Entertainment, Consumer Goods and Retail, BFSI, Manufacturing, Travel and Tourism, Healthcare, and Others) –by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)) – is expected to reach US$ 8.61 Bn by 2024 from US$ 2.39 Bn in 2016 at a CAGR of 20.1%

The key driving factor for digital asset management market includes the rapid growth in the usage of smartphones have contributed to the growth of digital assets such as images, videos, and other documents. Moreover, increasing focus on digital marketing has further aided the growth of digital assets and thus subsequently the need for digital asset management solutions to manage these digital assets. The digital asset management market is driven as there is an increase in online marketing medium aimed in reaching a maximum audience. Increase in need of collaborative digital workflow is another major factor driving the digital asset management market. In contrast implementation of security layer in order to stop electronic theft of the digital content is major challenge among the vendors.

Small enterprises face larger resource crunch than larger enterprises

In terms of organization size, small enterprises face larger resource crunch than larger enterprises and require enhanced methods to solve the complexities for better cost optimization on their business processes. Implementing viable solutions for managing and maintaining metadata and digital assets are some of the major benefits that small enterprises are experiencing through the adoption of digital asset management.

The cloud deployment segment is estimated to grow at the highest growth rate during the forecast period

In terms of deployment model, the cloud deployment segment is estimated to grow at the highest growth rate during the forecast period, due to the cost benefits and speed of deployment offered by cloud as compared to on-premises. However, the on-premises deployment segment is anticipated to account for the largest share of the market in 2017, as large enterprises prefer to store and manage their vital digital assets in their own infrastructure.

The media and entertainment segment is anticipated to account for the largest share of the market

In terms of vertical, the media and entertainment segment is anticipated to account for the largest share of the market. This can be attributed to the fact that media and entertainment industries deal with a plethora of digital assets to drive their business. Managing these bulk of digital assets is a major challenge and requires dedicated advanced solutions

North America is expected to hold the largest market share and dominate the DAM market

In terms of region, the Global Digital Asset Management Market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The swift growth of the market in the North America region is expected to be the fastest-growing region in the global market. The growth in the region is attributed to the offers potential growth opportunities, as there is a rise in cloud technology and digital technology adoption among small and large businesses for increasing their profitability in the region.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as DAM Software NV, Adobe Systems Incorporated, Bynder, Canto, Inc., Celum,  MediaValet Inc., North Plains Systems Corp., OpenText Corp., Pica9, Inc., SAS Institute Inc., WebDAM (A Shutterstock Company.),  Widen Enterprises Inc. and Worfront Inc.

Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Digital asset management market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Digital asset management market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Digital asset management market positioning of competitors.

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