A digital asset management is a business process that centrally captures, stores, organizes, and manages all digital files and data produced by an enterprise. These data can be reviewed, retrieved or edited by an authorized employees, users or partners by using web or offline application interface. A digital asset management can be used for brand asset management (marketing and sales), production asset management, and library asset management (images, videos, audios etc.).
Demand for rich media content by organization to promote their brand and products, along with new revenue options to increase operational efficiency and reduced cost has fueled demand for the digital asset management services and solution in the global market. Increasing adoption of online marketing medium to reach maximum audience is also one of the factor influencing demand in the market. Increasing adoption of cloud based services in sectors such as travel and tourism, media and entertainment is further contributing to growth of the global digital asset management market. Digital asset management also helps in automating marketing activities, multi-device and multi-channel communication, and optimizing workflow management.
Electronic theft of digital data is major factor hampering growth of the global digital asset management market. Challenges such as difficulty in maintenance of digital metadata, interoperability, and integration with network infrastructure are some other factors hampering growth of the global digital asset management market
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The global digital asset management market is segmented on the basis of component type, deployment type, enterprise size, application, industry verticals, and region.
North America dominates the global digital asset management market and is expected to maintain its dominance over the forecast period owing to increasing demand for automation and adoption of cloud based services in various sectors. Whereas, the market in Asia Pacific is projected to witness significant growth during the forecast period. This growth is attributed to increasing demand for digitization and content management especially from emerging economies like India, China etc.
Some of the key players in the global digital asset management market are ADAM Software NV, Adobe Systems Incorporated, Celum, Bynder, Cognizant Technology Solutions Corp., North Plains Systems, EMC Corporation, IBM Corporation, OpenText Corporation, and Oracle Corporation.
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