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Global Media Asset Management Market 2024 - By Size, Share, Price, Growth, Analysis, Outlook And Forecast Report 2033
Global Media Asset Management Market
As per the report, the media asset management market size has grown exponentially in recent years. It will grow from $5.11 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 20.7%. The media asset management market size is expected to see exponential growth in the next few years. It will grow to $13.22 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%.
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Digital Advertising Surge Fuels Media Asset Management Market Growth
The growing digital advertising is driving the growth of the media asset management market. Digital advertising is the marketing that takes place on websites, streaming media, and other online platforms in text, image, audio, and video formats, which helps businesses with the marketing funnel, brand awareness, consumer engagement, and other business operations. Media asset management in digital advertising helps broadcast media archive, store video assets, and distribution large volumes of multimedia content. Additionally, media asset management provides digital advertising agencies with content security, sharing media files quickly and easily, creating metadata, and enabling asset retrieval. For instance, according to MAGNA, a US-based media investment and intelligence company's, forecast for the ad marketplace in 2021, advertising revenue for media owners increased by +22% globally 2021 to an all-new high of $710 billion. Sales of digital advertising grew by $105 billion (+31%) to reach $442 billion, accounting for 62% of all advertising revenue globally. Therefore, such a rise in digital advertising will increase demand for media asset management.
Technological Advancements Drive Innovation In The Media Asset Management Market
Technological advancement is the key trend that is gaining popularity in the media asset management market. Major companies operating in the market are focused on research and development for product innovations such integration of artificial intelligence. For instance, in May 2022, Arvato Systems, a Germany-based IT service management company introduced VidiNet, the cloud-based media services platform with integration of AI software that allows users to recognize information in digital files and create their own AI models. Additionally, integrating VidiNet cognitive services in organizations will allow the creation and quality assurance of training data within a familiar media asset management environment and ensures maximum cost transparency using volume-based payment.
The media asset management market covered in this report is segmented -
1) By Deployment: On-Premise, Cloud (SaaS)
2) By Organization Size: SMEs (Small And Medium Enterprises), Large Enterprises
3) By End-User: Media And Entertainment, BFSI, Government, Healthcare, Retail, Manufacturing, Other End-Users
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Major companies operating in the media asset management market report are Amazon.com Inc., Dalet SA, Imagen Ltd., Prime Focus Technologies Ltd., Sony Group Corporation, Microsoft Corporation, VSN Video Stream Networks SL, Bynder BV, Dell Inc., International Business Machines Corporation, SI-MEDIASrl, NEP Group, Oracle Corporation, Square Box Systems Ltd., Quantum Corporation, Dalet Digital Media Systems, Tedial SL, Adam Software Inc., Canto Inc., Celum GmbH, Cognizant Technology Solutions Corporation, OpenText Corporation, North Plains Systems Inc., QBank, Webdam Inc., MediaBeacon Inc., IBM Corporation, Widen Enterprises Inc., Adobe Inc., Hewlett Packard Enterprise, Aprimo Inc., Salsify Inc., Nuxeo SA, MediaValet Inc.
Contents of the report:
1. Executive Summary
2. Media Asset Management Market Report Structure
3. Media Asset Management Market Trends And Strategies
4. Media Asset Management Market - Macro Economic Scenario
5. Media Asset Management Market Size And Growth
…..
27. Media 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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