Global Digital Asset Management (DAM) Market Share Is Expected To Grow At A CAGR Of 18.1% By 2030

22-May-2023 | Facts and Factors

According to the Facts & Factors report, the global digital asset management (DAM) market size hit approximately $4.12 billion in 2022 and is projected to be about $9.12 billion by 2030 along with registering the highest rate of growth of nearly 18.1% from 2023 to 2030.

global-digital-asset-management-market-share

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Digital asset management and its execution as a computer application are necessary in digital assets for ensuring digital asset collection. Various applications execute digital asset management tools by importing the latter from analog and digital domains. Moreover, digital asset management which is also abbreviated as DAM is an information management system that assists firms in effectively handling their media assets by using the software. Reportedly, digital asset management software can be deployed on-premises or cloud or by combining both tools.

Browse the full “Digital Asset Management (DAM) Market Size, Share, Growth Analysis By Deployment (On-Premise and Cloud), By Organization Size (Small & Medium Enterprises and Large Enterprises), By End-User (BFSI, Manufacturing, Media & Entertainment, Government, Healthcare, and Retail), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” report at https://www.fnfresearch.com/digital-asset-management-dam-market

Furthermore, growing technological advancements are shaping the growth of the global digital asset management (DAM) market. In addition to this, a rise in the demand for cloud-based digital asset management solutions will embellish the global market trends. Focus on improving the online experience of end-users and the need for online content delivery will embellish the expansion of the global market.

In addition to this, the growing inclination towards digital engagement activities has increased notably owing to the creation and distribution of online content, thereby resulting in the humongous expansion of the digital asset management market. Rise in the rate of BYOD owing to BYOD policy in the countries such as the U.S. will proliferate the size of the global market.

However, lack of control & integration of digital assets can prove to be detrimental to the growth path of the global digital asset management (DAM) industry. Nevertheless, the rise in data has resulted in massive demand for increasing storage capacity. Moreover, the growing penetration of machine learning and artificial intelligence tools has led to proficiency in the collection, processing, and analysis of data along with its migration to cloud tools. All these aforementioned factors will open new growth opportunities for the global industry.

global-digital-asset-management-market-size

Segmental Overview:

The global digital asset management (DAM) market is sectored into deployment, organization size, end-user, and region. 

The deployment segment of the digital asset management (DAM) market is sub-segmented into on-premise and cloud segment segments. Furthermore, the cloud segment, which contributed sizably towards the global market revenue share in 2022, is projected to register the fastest CAGR in the ensuing years. The segmental growth in the coming eight years can be due to a growing preference for SaaS-based services which provide smartphone accessibility & other services to its end-users. In addition to this, the cloud model helps in fulfilling particular digital asset requirements of small-scale, medium-scale, and large-scale firms. Furthermore, cloud-based deployment is cost-effective and quick.

On the basis of organization size, the digital asset management (DAM) industry across the globe is sectored into small & medium enterprises and large enterprises segments. The large enterprises segment, which garnered a major share of the global market in 2022, is predicted to account for the major market growth in the ensuing years. The segmental expansion in the upcoming years is due to the growing penetration of digital asset management tools in large enterprises.

On the basis of end-user, the digital asset management (DAM) market across the globe is divided into BFSI, manufacturing, healthcare, media & entertainment, government, and retail segments. Moreover, the media & entertainment segment, which accounted for a major share of the global market in 2022, is predicted to register lucrative growth in the upcoming years. The segmental expansion over the forecast timeframe can be subject to the generation of huge content on social media compelling vendors to accept digital asset management services for reaching the target audience in the shortest timespan.

Regional Overview:

Furthermore, the North American digital asset management industry is predicted to experience a noteworthy surge in the forecast timeline. The factors predicted to impact the growth of the regional market include the presence of giant firms such as Oracle Corporation and OpenText in the sub-continent. Apart from this, massive demand for data analysis owing to the generation of huge data has resulted in a humungous regional industry surge.

Report Scope

Report Attribute

Details

Market Size in 2022

USD 4.12 Billion

Projected Market Size in 2030

USD 9.12 Billion

CAGR Growth Rate

18.1% CAGR

Base Year

2022

Forecast Years

2023-2030

Key Market Players

Adobe Inc., OpenText Corporation, Cognizant, Aprimo, Bynder, Sitecore, Widen Enterprises Inc., MediaBeacon Inc., CELUM, Nuxeo, Frontify, Hyland Software, and others.

Key Segment

By Deployment, Organization Size, End-User, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

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Competitive Landscape:

Key players in the global digital asset management market include Adobe Inc., OpenText Corporation, Cognizant, Aprimo, Bynder, Sitecore, Widen Enterprises Inc., MediaBeacon Inc., CELUM, Nuxeo, Frontify, and Hyland Software.

Recent Developments:

  • In the first half of 2021, Hyland Software, a software firm based in the U.S., acquired Nuxeo, a software company manufacturing open-source content management systems. The acquisition will help Hyland expand its cloud-native platform portfolio. The move will increase the popularity of digital asset management systems in the software industry.
  • In the second quarter of 2021, Frontify, a Switzerland-based MarTech firm, entered a strategic agreement with Celum, a firm creating, managing, and distributing digital assets. The strategic initiative is aimed at improving the performance of the cloud tool of Celum along with adding new features to the brand.
  • In the last quarter of 2021, Adobe introduced AEM Assets Part 2 which will help in the successful implementation of digital marketing tools. The move will segment the scope of growth of digital asset management activities across the globe.

The global digital asset management (DAM) market is segmented as follows:

By Deployment 

  • On-Premise
  • Cloud

By Organization Size 

  • Small & Medium Enterprises
  • Large Enterprises

By End-User

  • BFSI
  • Manufacturing
  • Media & Entertainment
  • Government
  • Healthcare
  • Retail

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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