The report “Digital Asset Management Market by Solution (Video Management), by Service (Consulting), by Application (Marketing), by Deployment Type, by User Type, by Industry (Government), and by Region – Global Forecast to 2020″, The Digital Asset Management (DAM) market is expected to reach USD 5.36 Billion by 2020, at a CAGR of 30.4% during the forecast period.
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DAM is growing progressively and been adopted by users in several industries for storage and saving of digital files to complete their work on real time basis. The developments in this technology and its solutions have encouraged organizations to adopt DAM solutions and services for managing, collaboration, asset tracking, digital storage, and other. Moreover, DAM assist its user in making better marketing and branding strategies with the help of its solutions such as creative tool integration, and video management. These solutions are also being adopted by users for social media integration.
Rising need for collaborative digital workflow in Marketing field is driving the DAM market
There has been rise in the adoption of DAM solutions among marketing companies such as Brand portals, Creative tool integration, and Web content management integration. DAM solutions facilitate instant access to information through collaborative digital workflows, thereby increasing the organizational productivity. Organizations demand efficient collaborations of digital assets with employees, as branding and corporate identity is necessary for all businesses. Brand portals solutions are adopted for creation, edition, and customization of various components such as logos and fonts in marketing department. Furthermore, creative teams generate business content in the form of images, graphics, videos, and text to enhance the customer’s experience, so this has increased the usage of creative tool integration among companies.
North America is expected to adopt DAM solutions and services significantly in 2015
The North American region has been a predominately concerned market toward the adoption of DAM solutions and services. The high adoption of digital technology among marketing firms, and retail and consumer goods industries are driving the market in North America. Moreover, in this region, countries such as the U.S. and Canada are adopting DAM services to make better use, and addition of new products in their DAM solutions which are already implemented in the organizations. DAM is also used by companies to enrich their marketing activities with better advertising, customer interaction, and branding. Currently, North America is playing a major role in the growth of DAM market by developing new products in this field and implementing DAM solutions within small organizations.
The DAM market consists of major players such as OpenText, Oracle, Adobe Systems, ADAM, and HP. There is also a significant presence of other players such as IBM, EMC, Cognizant, NorthPlains, and Widen in this market. The report also profiles the key innovators of DAM market such as Bynder, Canto, CELUM, and WebDam, which also have a presence in major regions.
This report analyzes the global adoption trends, future growth potentials, key drivers, restraints, opportunities, and best practices in the market. The report also examines the growth potential, market sizes, and revenue forecasts across different regions as well as user segments. The market is segmented by region into North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and Latin America; by deployment type as on-premises and cloud; by industry vertical as media and entertainment, government, healthcare, retail and consumer goods, education, BFSI, Apparels, automotive and manufacturing, and others.
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