The global digital asset management market was valued at over USD 2 billion in 2016 and is expected to surpass USD 5 billion by 2025, says Technavio.
Technavio has announced its latest market research report on the global digital asset management market, under its enterprise application portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Adobe, Cognizant Technology Solutions, Dell EMC, HP, and IBM.
According to Ishmeet Kaur, a lead analyst for enterprise application research at Technavio, “The growing demand for open-sourced DAM software will revolutionize the global market during the forecast period. Open-source DAM is gaining popularity among enterprises in the developing economies such as India and China, which will result in the growth of the market.”
Several SMEs are adopting open-source platforms as there is a very little capital investment and does not have high operating cost compared to the on-premises media management platforms. These new open-source software solutions are designed to improve efficiency and can be downloaded and run across all platforms in the market. The rising demand for open-source DAM solution providers like ResourceSpace, Razuna, and Pimcore will help in the evolution of the market.
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Shift from on-premises to SaaS
The companies in the market are implementing cloud-based solutions as they offer drag-and-drop functionality, mobile accessibility, and more intuitive services. These solutions offer low-cost options and rapid deployment of services, which are available in three deployment models that include IaaS, PaaS, and SaaS. These cloud-based models are designed as per the client’s business requirements and reduce the capital investment of additional software and hardware products.
Increased use of DAM across retail, media, and entertainment industries
The enterprises in industries like retail, media, and entertainment industries are adopting DAM solutions as it helps organizations to improve business development initiatives. These software solutions assist companies to create higher efficiencies in store operations through improved workforce management, product placement, and store layouts. The enterprises in the market are also implementing video management software that aids establishments to gain operational intelligence and real-time insights to examine incidents.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Digital Asset Management Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Plant Asset Management System Market 2016-2020
- Global Marketing Resource Management Market 2016-2020
- Global Enterprise Information Management Market 2016-2020
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