Press release
Digital Asset Management Market is predicted to reach USD 11.2 billion in 2029, registering 14.1% CAGR during 2022-2029 | Size & Trends
Digital Asset Management Market
Digital Asset Management Market was estimated around USD 3.9 billion in 2021 and is expected to reach USD 11.2 billion growing at a CAGR of 14.1% over the forecast period (2022-2029).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/digital-asset-management-market-analysis-industry-research/
The factors driving the growth of Digital Asset Management Market includes improvements in digital media infrastructure, increasing use of digital asset management solutions by organization to manage and organize digital assets, rising trend of diffusing encryption technologies with digital solutions and emerging need to need to enhance the security of digital assets to avoid copyright issues. According to the report published by Statista, the Digital, Media Market in India was calculated around USD 303 billion in 2021 and is expected to reach USD 537 billion by the end of 2024, which will accelerate the Digital Asset Management Market size in the approaching years. Moreover, growing demand for cloud-delivery options to store digital assets, rapid growth in the e-commerce sector, rise in the number of Internet of Things (IoT) based devices and integration of technologies such as Bluetooth, RFID, Wi-Fi, and Zigbee, are some of the additional factors supplementing the market growth. As per the Digital Asset Management Market Analysis, the increasing investments by leading players on research and development, growing disposable incomes and rising population growth rates, are further contributing to the market growth.
However, the growth of Digital Asset Management Market is hindered due to high license cost for managing digital assets.
The leading players operating in the market are Hewlett Packard Enterprise Development LP, Dell Inc., International Business Machines Corporation, Quantum Corporation, Adobe Inc., Cognizant Technology Solutions Corporation, Oracle Corporation, Microsoft Corporation, SAP SE and Canto, Inc., among others.
Based on Organization Size, the SMEs (Small and Medium Enterprises) segment is predicted to grow at a remarkable CAGR during the forecast period
Growing adoption of cloud-based solutions by small and medium enterprises and rising trend of digitalization, are some of the factors responsible for the segment's growth.
Based on End-User, the BFSI segment is projected to expand at a robust CAGR over the forecast period
Increasing investments by financial institutions on digital assts such as bitcoin and tokens, is propelling the growth of the segment.
Based on Region, the North American region is anticipated to expand at a significant CAGR during the forecast period
Presence of the leading players such as Cognizant Technology Solutions Corporation, Oracle Corporation and Microsoft Corporation, Government initiatives promoting digitalization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Key Development
In 2020, Quantum Corporation completed the acquisition of Square Box Systems Ltd, which offers data cataloguing, user collaboration, and digital asset management software. This acquisition will strengthen Quantum's ability to provide software solutions for managing digital data, both on-premises and in the cloud.
Market Segmentation
Segmentation by Type
Brand Asset Management Systems
Library Asset Management Systems
Production Asset Management Systems
Segmentation by Solution
Video Management
Creative Tool Integration
Asset Analytics
Web Content Integration
Brand Portals
Asset and Metadata Archiving
Lifecycle and Rights Management
Segmentation by Deployment
On-premise
Cloud
Segmentation by Organization Size
SMEs (Small and Medium Enterprises)
Large Enterprises
Segmentation by End-User
Media and Entertainment
BFSI
Government
Healthcare
Retail
Manufacturing
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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