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Top Market Shifts Transforming the Digital Asset Management Market Landscape: Key Insights
Digital Asset Management
What Is the Expected CAGR for the Digital Asset Management Market Through 2025?
The market size of digital asset management has seen swift expansion in recent years. The valuation is projected to surge from $6.46 billion in 2024 to $7.32 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 13.3%. Factors contributing to the growth during the historical period include the demand for content creation and distribution, maintaining brand consistency and identity, compliance with regulatory requirements, and the increase in visual content.
What's the Projected Size of the Global Digital Asset Management Market by 2029?
The market size for digital asset management is predicted to experience a swift expansion in the upcoming years, escalating to $14.47 billion in 2029 at a CAGR of 18.6%. This growth anticipated in the forecast period can be credited to the rising demand for video and rich media management, emphasis on personalized and dynamic content delivery, and focus on user experience (UX) design. Notable trends for the forecast period are automated workflow orchestration, facial and object identification for asset management, real-time analytics and reporting, compliance and governance elements, along with enhanced mobile accessibility and collaboration.
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Top Growth Drivers in the Digital Asset Management Industry: What's Accelerating the Market?
Anticipated progress in the digital asset management market is propelled by the rising need for remote and flexible work. This refers to the employment models that allow employees to operate outside conventional office environments and determine their working hours. Technological advancements such as high-speed internet, cloud computing, and collaboration tools are the key drivers behind the growth of remote and flexible work as they offer seamless work-from-home capabilities. Furthermore, the importance placed on a balanced work-life schedule has led many organizations to implement flexible working methods. Digital asset management (DAM) platforms play a key role in supporting remote work by providing centralized access to digital resources, fostering efficient collaboration and secure sharing and ensuring smooth workflows. Consequently, teams can manage projects and uphold brand consistency from any location. For example, a projection by AT&T Inc., a US-based telecommunications firm, in February 2022 states that the proportion of companies adopting a hybrid work structure, enabling employees to alternate between remote and office work, will rise dramatically from 42% in 2021 to 81% by 2024. Hence, the burgeoning demand for remote and flexible work methods will facilitate the growth of the digital asset management market.
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What Trends Will Shape the Digital Asset Management Market Through 2029 and Beyond?
Larger enterprises in the business of asset management are stepping up their competitive edge by introducing innovative next-generation platforms. These future-oriented digital asset management (DAM) platforms are sophisticated aids structured for the effective organization, safe storage, easy access, and wide distribution of digital resources in a business setup. For instance, the UK's digital asset management solutions firm, Blueprint, rolled out an advanced digital asset management platform in August 2023. This platform was crafted with the primary aim of centralising data, insights and tools, facilitating efficient management and optimization of portfolios for investors, builders, and service providers. The platform's objective is to simplify digital asset portfolio management by addressing market fragmentation and making the complicated staking process more accessible for users. It currently supports 10 blockchain networks and utilizes proprietary nodes without incurring any user costs. Blueprint's goal is to develop an all-in-one blockchain platform that integrates L1s for both fungible and non-fungible assets and aggregates data from various sources. The emphasis is on simplified staking alongside comprehensive guides and renders considerable support for staked assets. This includes a rewind feature to view historical snapshots.
What Are the Main Segments in the Digital Asset Management Market?
The digital asset managementmarket 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
Subsegments:
1) By Solution: Cloud-Based Solutions, On-Premises Solutions, Mobile Applications, Digital Rights Management (DRM) Solutions
2) By Services: Implementation Services, Consulting Services, Support And Maintenance Services, Training Services
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Which Top Companies are Driving Growth in the Digital Asset Management Market?
Major companies operating in the digital asset management market include IBM Corporation, Oracle 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., BrandMaker GmbH, MediaValet Inc., Nuxeo Corporation, Digizuite A/S, Bright Interactive Holdings Ltd., IntelligenceBank Pty. Ltd., North Plains Systems lnc., MediaBeacon Inc., Webdam Inc., Filecamp ApS, Picturepark AG, Daminion Software, Image Relay Inc., MerlinOne Inc., Pimcore GmbH, Third Light Ltd.
Which Regions Will Dominate the Digital Asset Management Market Through 2029?
North America was the largest region in the digital asset management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital asset management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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