Digital asset management market worth $4.12 billion by 2019

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Also, DAM allows organizations to store collaborate, manage, allocation of metadata, and asset tracking with its pioneering solutions.

DAM solutions can be deployed on cloud and on-premises, which help users to have cost effective solutions. Furthermore, cloud-based DAM solutions help companies to improve their efficiency without expansion of their IT resources.

The expansion of DAM solutions on cloud has encouraged solution providers to provide cloud based product offerings to enhance their market reach among diverse industry verticals. Moreover, DAM solution and services have been started being used exponentially by various industry verticals such as media and entertainment, retail, government, healthcare, and consumer goods to name a few.

The DAM market is consolidated with big players such as Open Text, Adobe systems, Oracle, IBM Corporation, EMC, HP, Cognizant, ADAM Software, North Plains, Widen Enterprises.

The factors driving DAM market are the escalating need for compliance with regulatory standards, rising demands for collaborative digital workflows, and mounting concerns about data loss and misplaced.

High purchasing cost is the major restraint for the growth of DAM market due to which companies are restricting themselves regarding the use of DAM solutions. Companies preferably use enterprise content management solutions instead of DAM solutions due to lack of awareness about DAM solutions.

The DAM allows its users to make better marketing strategy with the use of these solutions and services and help them to have better market positioning. Moreover, digital asset management solution and services provide users video management, search optimization, web content management, metadata archiving, branding of products, right management and next generation interactive solution and services.

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MarketsandMarkets broadly segments the Digital Asset Management market by regions as North America (NA), Asia-Pacific (APAC), Europe , Middle East Africa (MEA) and Latin America (LA); by solutions as video management, creative tool integration, brand portals, asset analytics, web content management integration, asset and metadata archiving, lifecycle and right management; by service type as training and support, consulting and implementation; by deployment type as on-premise and cloud; by user type as SMB’s and enterprise; by industry verticals as media and entertainment, government, electronics, healthcare, retail and utility, apparels, education, consumer goods and others.

MarketsandMarkets forecasts the Digital Asset Management (DAM) market to grow from $1.16 billion in 2014 to $4.12 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 28.7% during the forecast period. North America is expected to be the largest market in terms of market size, while Europe and Asia-Pacific are expected to experience an increase in market traction during the forecasted period.

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