Global Digital Asset Management Market Assessment, By Component [Solutions, Services], By Deployment Mode [Cloud-Based, On-Premises], By Company Size [Large Enterprises, Small and Medium-Sized Enterprises], By Asset Type [Documents and Presentations, Multimedia Assets], By Industry [Banking, Financial Services and Insurance, Healthcare, IT and Telecommunication, Retail and E-Commerce, Education, Media and Entertainment, Others], By Region, Opportunities and Forecast, 2017-2031F

Global digital asset management market is projected to witness a CAGR of 15.11% during the forecast period 2024-2031, growing from USD 4.54 billion in 2023 to USD 13.99 billion in 2031.  

Global digital asset management market, Size, Future, Growth, Forecast 2031

Global digital asset management market is projected to witness a CAGR of 15.11% during the forecast period 2024-2031, growing from USD 4.54 billion in 2023 to USD 13.99 billion in 2031. &nbsp;
The Digital Asset Management (DAM) market is experiencing significant growth, driven by the increasing use of digital assets across various industries. For instance, the global media and entertainment industry was valued at USD 2.8 trillion&nbsp;in August 2024. With the continuous recovery from the COVID-19 pandemic in 2023, live events such as music performances grew by 26%, while cinema box offices surged to 30.4%. As the growth in the media and entertainment industry continues, so does the need for effective organization, storage, and retrieval of digital content that encompasses images, videos, and promotional materials.
In this industry, digital asset management solutions enable businesses to operate in a structured manner, ensuring that all their assets are readily accessible. Additionally, these solutions help companies maintain brand consistency across multiple channels. Key drivers, such as the growth of content and the need for efficient management, significantly influence the expansion of the digital asset management market as businesses increasingly enter the digital arena to remain competitive.
For instance, in June 2023, Bynder, Inc. launched new generative AI capabilities, integrating ChatGPT into its Digital Asset Management (DAM) platform. This enhancement, available in the Content Workflow module, boosts content creation and management efficiency.
<h2>Growth in E-Commerce Driving Growth in Digital Asset Management Market</h2>
The digital asset management market is experiencing rapid growth, witnessed by the exponential growth in global business-to-consumer (B2C) e-commerce, which is projected to grow at a CAGR of 14.4%. According to the International Trade Administration, this sector is expected to reach USD 5.5 trillion by 2027. Moreover, e-commerce platforms continue to expand, raising the demand for managing huge volumes of digital content, including product images, videos, and marketing materials. Digital asset management systems, therefore, support the effective cataloging, storage, and retrieval of such assets for maintaining brand consistency across multiple channels. E-commerce, which thrives on good quality digital content for increasing customer interaction and revenues, automatically necessitates making digital asset management systems part and parcel of the functioning of a firm to keep competition at bay. This growth in the market can be related to increased investment by enterprises in digital asset management solutions for better workflow for content and smooth operations, hence giving customers a seamless experience.
For example, in May 2024, Acquia, Inc. introduced Acquia Syndicate, a new module for its Acquia Product Information Management (PIM) platform, designed to streamline product data distribution across digital channels, improving accuracy and e-commerce efficiency.
<h2>Demand For Secure Digital Asset Storage Fuels the Digital Asset Management Market</h2>
The increasing demand for digital assets stored with security drives the growth of the digital asset management market. Due to the growing dependency on digital content, such as videos, images, and documents, companies' demands have grown equally with the demand for safe and organized storage. Concerns about data breaches, unauthorized access, and loss of valuable digital assets drive enterprises to seek digital asset management solutions for secure storage and management. Advanced security features, like encryption, access controls, and cloud-based backups, ensure the content is safe yet accessible. Businesses across various sectors, from media to retail, deploy digital asset management solutions owing to increasing storage needs, thereby boosting market growth.
For example, in July 2024, Cloudinary Ltd., a leading image and video technology platform, adopted the Coalition for Content Provenance and Authenticity (C2PA) standard, enhancing media transparency and security for digital assets.&nbsp;
Government Initiatives Act as a Catalyst
Government regulations and initiatives aimed at securing and efficiently handling digital assets contribute to the growth and adoption of digital asset management. Data privacy laws, such as the General Data Protection Regulation in the European Union and the California Consumer Privacy Act (CCPA) in the United States, require businesses to secure digital asset management. This necessitates more sophisticated security and compliance features within digital asset management solutions. Additionally, initiatives like Digital India and Open Government Data sites promote digitalization and underscore the importance of effectively managing, storing, and sharing large volumes of digital content. All these initiatives will encourage organizations to invest in digital asset management technologies, thus driving market growth.
For example, in May 2024, the United States House passed H.R. 4763, the &ldquo;Financial Innovation and Technology for the 21st Century Act&rdquo; (FIT21), establishing federal guidelines for digital assets and enhancing market transparency and protection.
<h2>Media and Entertainment Leads the Digital Asset Management Market</h2>
The requirement for managing and organizing a large amount of digital content, including videos, images, and audio files, is driving the growth of the digital asset management market for media and entertainment. The industry has witnessed a massive drift toward digital platforms, streaming services, and content creation, making media and entertainment companies dependent on digital asset management systems to streamline their workflow by managing their assets perfectly and accessing content at high speed. This has sustained growth within the industry, especially in areas such as video production, live events, and advertising, where maintaining brand consistency and effectively managing creative assets is essential. The increasing demand for high-quality content and the need for streamlined workflows in the media and entertainment sectors worldwide have highlighted the need for digital asset management technologies, further propelling the market growth.
<h2>North America Dominates Digital Asset Management Market</h2>
North America leads in the digital asset management market due to its strong technological infrastructure and higher adoption rates across industries. This region is home to a strong hub of media and entertainment sector, as well as thriving e-commerce, advertising, and marketing industries, where demand for digital asset management solutions is high. Companies in North America are significantly investing in digital asset management systems to manage massive volumes of digital content efficiently, improve workflow automation, and align with data regulations.
Moreover, the focus on innovation and digital transformation in North America has spurred advanced development in digital asset management technologies. As enterprises in this region strive to improve the organization and accessibility of their assets, North America&rsquo;s leading position in the digital asset management solution market continues to expand.
For instance, in September 2023, Canto, Inc. launched AI Visual Search, enabling users to find assets using visual descriptions rather than metadata. This new solution enhances search efficiency, addressing the growing demand for rapid content delivery.
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<h2>Future Market Scenario (2024-2031F)</h2>
<ul>
<li>AI-powered digital asset management systems will allow advanced artificial intelligence to handle the tagging, improve the power of search, and provide predictive analytics on the various assets.</li>
<li>Cloud-based digital asset management solutions will become more prevalent with increased scalability, accessibility, and cost-effectiveness in handling volumes of digital content.</li>
<li>As threats of cybercrime surge, digital asset management systems incorporate more security features, like multi-factor authentication and advanced encryption, against sensitive digital assets.</li>
<li>The digital asset management platforms would be able to reflect customized interfaces for their users and provide personalized content recommendations based on the users' behavior and preferences.</li>
</ul>
Report Scope
&ldquo;Digital Asset Management Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global digital asset management market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 15.11% between 2024 and 2031
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Revenue Forecast in 2031
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USD 13.99 billion
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Segments Covered
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Component, Deployment Mode, Company Size, Asset Type, Industry
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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Adobe Inc., Acquia Inc., Bynder BV, Canto GmbH, CELUM GmbH, Cloudinary Ltd., International Business Machines Corp., Netxposure LLC, Open Text Corporation, Smartsheet Inc.
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;global digital asset management market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Component
<ul>
<li>Solutions</li>
<li>Services
<ul>
<li>Managed Services</li>
<li>Professional Services</li>
</ul>
</li>
<li>By Deployment Mode
<ul>
<li>Cloud-Based</li>
<li>On-Premises</li>
</ul>
</li>
<li>By Company Size
<ul>
<li>Large Enterprises (&gt;1000 Employees)</li>
<li>Small and Medium-Sized Enterprises (SMEs) (&lt; 1000 Employees)</li>
</ul>
</li>
<li>By Asset Type
<ul>
<li>Documents and Presentations</li>
<li>Multimedia Assets (Audio, Video, Images, Animation, Media Files, Graphics)</li>
</ul>
</li>
<li>By Industry
<ul>
<li>Banking, Financial Services and Insurance&nbsp;(BFSI)</li>
<li>Healthcare</li>
<li>IT and Telecommunication</li>
<li>Retail and E-Commerce</li>
<li>Education</li>
<li>Media and Entertainment</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The key players in the digital asset management market are a mix of established industry leaders and innovative start-ups. The players are investing in product development to improve the functionality of automation, AI, and cloud features to gain a competitive edge in the market. Consequently, the market outlook remains positive with the growing demand for efficient management from the media, retail, and e-commerce sectors. Improvements in security features, personalized experiences for users, and the integration of enterprise systems are expected to facilitate growth further. The ongoing wave of digital transformation with ever-increasing volumes of content will result in increased investment and further innovation in digital asset management technologies.
In September&nbsp;2023, Bynder, Inc. acquired EMRAYS, a specialist in AI search solutions, to enhance its Digital Asset Management (DAM) platform. The acquisition will improve asset findability and user experience for Bynder DAM users.
In August&nbsp;2023, Canto, Inc. acquired MerlinOne, Inc., enhancing its Digital Asset Management (DAM) capabilities with MerlinOne's advanced AI technology. This acquisition supports Canto's strategy to lead in the DAM market.
Key Players Operating in Global Digital Asset Management Market are:
<ul>
<li>Adobe Inc.</li>
<li>Acquia Inc.</li>
<li>Bynder BV</li>
<li>Canto GmbH</li>
<li>CELUM GmbH</li>
<li>Cloudinary Ltd.</li>
<li>International Business Machines Corp.</li>
<li>Netxposure LLC</li>
<li>Open Text Corporation</li>
<li>Smartsheet Inc.</li>
</ul>
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<ul>
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
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Global Digital Asset Management Market Assessment, Opportunities, and Forecast, 2017-2031F

Global digital asset management market is growing rapidly due to increased demand for efficient content organization, improved workflow automation, and enhanced metadata management, driven by rising digital content creation and consumption.

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