Every organisation focus on Multi Content Delivery which drives their business. Virtual business with innovative models with competitive pricing strategies along with providing unique products or service to customers generate new revenue opportunities. Organisations also look in the cost reduction which is their top initiative thereby focusing on innovative new technologies like cloud computing and IT & Business process Outsourcing. Digital Asset management solutions helps the organisations in order reduce costs and offer asset management value chain from both a marketing and production standpoint.
Digital Asset Management (DAM) systems are centralized repositories of digital assets that provide specialized functions to transform, index, and store, manage access, retrieve, and distribute digital media. Implementation of DAM solution can reduce cost, generate new revenue streams and also increase brand value. Implementation of digital asset management solution can improve product launch cycles and improve distribution channel services. Additionally Digital asset management can also reduce manual workflows by automating all the services.
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Market drivers & challenges:
The Digital Asset management market is driven as there is increase in online marketing medium aimed in reaching maximum audience.Increase in need of collaborative digital workflow is another major factor driving the digital asset management market.
In growth of travel and tourism industry is also a major driver for digital asset management, where digital assets like photos and videos which were important as customer need to keep all the digital assets well organized and easily accessible. The most effective way is to implement cloud based digital asset management software.
In contrast implementation of security layer in order to stop electronic theft of the digital content is major challenge among the vendors.
Global Digital Asset Management Market: Segmentation
Global Digital Asset Management market is segmented based on component, end-user and region
On the basis of the Component Global Digital Asset Management market is segmented to Software, Service. Software segment can be further segment to On-premise, Hybrid and Cloud-based. Service component can be further segmented to Services Consulting, System Integration and Maintenance
On the basis of the end user, the global Digital Asset Management Market is segmented into BFSI, Telecom and IT, Retail, Tourism, Government and Public, Museums and Art, Healthcare, Education, Media and Entertainment, Manufacturing, Hospitality, Others
On basis of region global Digital Asset Management market is segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and The Middle East and Africa (MEA).
Majority of the Digital Asset Management market is dominated by North America as there is increase in adoption of digital asset management solutions by organisations. North America region share maximum as there is an increase in adoption of digital technology by marketing firms along with the growth of ecommerce. Europe and Asia pacific also share a significant market share due of growth of online retail.
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Key Market Players:
Some of the key players in Global Digital asset management Market include ADAM Software NV, Adobe Systems Incorporated, Bynder, Canto, Inc., Celum, MediaValet Inc., North Plains Systems Corp., OpenText Corp., Pica9, Inc., SAS Institute Inc., WebDAM (A Shutterstock Company.), Widen Enterprises Inc. and Worfront Inc.