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Soaring Demand Set to Propel Media Asset Management Market to $16.3 Billion by 2029
Media Asset Management
What Is the Expected CAGR for the Media Asset Management Market Through 2025?
The market size of media asset management has seen a speedy expansion in the past few years. It is projected to escalate from $6.04 billion in 2024 to $7.22 billion in 2025, with a compound annual growth rate (CAGR) of 19.5%. The historic period growth can be credited to the rise in multimedia use in marketing tactics, the global expansion of media production, an upsurge in video content production, the complexity of media rights and licensing, the necessity for archiving and preservation, newsroom operational efficiency, increased demand for content delivery across different platforms, and improvements in metadata and tagging.
What's the Projected Size of the Global Media Asset Management Market by 2029?
Expectations indicate that the market size of media asset management shall experience substantial growth in the forthcoming years. It is predicted to surge to a value of $16.31 billion in 2029, with a compound annual growth rate (CAGR) of 22.6%. Factors contributing to this growth projection during the forecast period include enhancements in search and discovery capabilities, hybrid work settings in media production, customized content delivery, association with project management tools, emphasis on sustainability in media production, issues with international content distribution, and integration and distribution through social media. Noteworthy trends for the forecast timeframe encompass solutions involving cloud-based MAM, tools for remote work collaboration, automated workflows, mobile accessibility, subscription-led pricing models, synergy with editing software, and media analytics envisioned for performance insights.
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Top Growth Drivers in the Media Asset Management Industry: What's Accelerating the Market?
The expansion of digital advertising is a key driver in enhancing the media asset management market. It embodies marketing undertaken on websites, streaming sites, and various online platforms in text, video, audio, and image modes, aiding businesses in the marketing funnel, enhancing brand visibility, engaging consumers, and boosting other business processes. Media asset management plays an integral role in digital marketing by assisting in archiving broadcast media, storing video assets, and disseminating extensive multimedia content. It also offers digital advertising firms content security, swift and easy media file sharing, metadata creation, and asset recovery. For example, as stated by the Interactive Advertising Bureau, an American media company, in April 2024, internet-based advertising revenues hit an unprecedented $225 billion, marking a 7.3% year-on-year increase overall between 2022 and 2023. Consequently, this upward trend in digital advertising is anticipated to escalate the demand for media asset management.
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What Trends Will Shape the Media Asset Management Market Through 2029 and Beyond?
The primary trend seeing a surge in the media asset management market is technological advancement. Many prominent companies in the market are concentrating on research and development to bring forth product innovations such as the incorporation of artificial intelligence (AI). As a case in point, Arvato Systems, an IT service management firm based in Germany, launched VidiNet in May 2022. This cloud-based media services platform, integrated with AI software, provides users the ability to identify information in digital files and develop their own AI models. Furthermore, the incorporation of VidiNet cognitive services in companies can facilitate the generation and quality control of training data within a typical media asset management setting while ensuring maximum cost transparency through volume-based payment.
What Are the Main Segments in the Media Asset Management Market?
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
Subsegments:
1) By On-Premise: Self-Hosted Solutions, Customizable Infrastructure, Integration With Existing Systems
2) By Cloud (SaaS): Subscription-Based Services, Scalable Solutions, Accessibility And Collaboration Features
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Which Top Companies are Driving Growth in the Media Asset Management Market?
Major companies operating in the media asset management market 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.
Which Regions Will Dominate the Media Asset Management Market Through 2029?
North America was the largest region in the media asset management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the media asset management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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