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Digital Asset Management Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033
Digital Asset Management Market
The Business Research Company offers in-depth market insights through Digital Asset Management Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The digital asset management market size has grown rapidly in recent years. It will grow from $5.72 billion in 2023 to $6.6 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to content creation and distribution needs, brand consistency and identity, regulatory compliance requirements, rise in visual content.
The digital asset management market size is expected to see rapid growth in the next few years. It will grow to $12.29 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to demand for video and rich media management, personalization and dynamic content delivery, focus on user experience (UX) design. Major trends in the forecast period include automated workflow orchestration, facial and object recognition for asset management, real-time analytics and reporting, compliance and governance features, mobile accessibility and collaboration.
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Market Segmentation:
The digital asset management market covered in this report is segmented -
1) By Type: Solution, Services
2) By Deployment Type: On-Premises, Cloud
3) By Enterprise Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs)
4) By Application: Sales, Marketing, IT, Photography, Graphics and Designing, Other Applications
5) By End User: Media and Entertainment, BFSI, Retail, Healthcare, Automotive and Manufacturing, Other End Users
Major Driver - The Rise Of Cloud-Based Digital Asset Management Solutions
The increasing prevalence of cloud-based digital asset management (DAM) solutions is projected to propel the growth of the digital asset management (DAM) market. Cloud-based digital asset management (DAM) is a platform that enables businesses to handle, store, and organize their resources in a cloud-based environment. Any organization that uses resources for packaging, marketing, advertisement, or any other business-related activity would benefit from a cloud DAM. For instance, in December 2021, according to a survey conducted by O'Reilly Media Inc., a US-based learning company, out of 2,834 global respondents, 90% revealed their organizations currently employ cloud-based applications. Looking ahead, 48% plan to shift over half of their apps to the cloud within the next year, with 20% aiming for a complete migration to cloud-based solutions. Therefore, the increasing prevalence of cloud-based digital asset management (DAM) solutions drives the digital asset management (DAM) market growth.
Competitive Landscape:
Major companies operating in the digital asset management market report are Dell Technologies Inc., IBM Corporation, Oracle Corporation, Cognizant Technology Solutions Corporation, Adobe Inc., OpenText Corporation, Bynder B.V., Sitecore Corporation A/S, Aprimo LLC, Cloudinary Ltd., Censhare AG, CELUM GmbH, WoodWing Software BV, Brandfolder Inc., Wedia SA, Widen Enterprises Inc., MarcomCentral, Canto Inc., Celartem Inc., BrandMaker GmbH, MediaValet Inc., Nuxeo Corporation, Digizuite A/S, Bright Interactive Holdings Ltd., IntelligenceBank Pty. Ltd., North Plains Systems lnc., MediaBeacon Inc., Webdam Inc., QBNK Holding AB, Filecamp ApS, Picturepark AG, Daminion Software, Image Relay Inc., MerlinOne Inc., Pimcore GmbH, Third Light Ltd.
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Top Trend - Exploring Cloudinary'S Ai-Driven Digital Asset Management Solution
Major companies operating in the digital asset management are developing innovative technologies such as AI to increase their profitability in the market. An AI-powered digital asset management (DAM) solution refers to a system that utilizes artificial intelligence technologies to efficiently organize, analyze, and optimize digital assets such as images, videos, documents, and other media files. For instance, in September 2023, Cloudinary, a US-based SaaS technology company launched Nexus. Nexus is a no-cost AI-driven digital asset management solution, is crafted for small businesses and teams. Its focus lies in optimizing workflows through AI tools, fostering seamless collaboration, and boosting overall productivity. This platform employs AI for efficient asset organization, utilizing features like auto tagging and asset analysis to automate tasks. The solution provides comprehensive asset management features with automatic keywording and AI capabilities.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Digital Asset Management Market Characteristics
3. Digital Asset Management Market Trends And Strategies
4. Digital Asset Management Market - Macro Economic Scenario
5. Digital Asset Management Market Size And Growth
…..
27. Digital Asset Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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