LONDON, Sept. 02, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the digital asset management (DAM) market, technological advancement is a key trend shaping the digital asset management market. Major companies operating in the digital asset management sector are focused on developing technologically advanced solutions for DAM.
For instance, in July 2020, Sitecore, a US-based software company launched version 3.4 of its Sitecore Content Hub solution, which includes new and improved workflow and third-party integration capabilities. Sitecore Content Hub version 3.4 adds artificial intelligence (AI) and video technologies to its Digital Asset Management platform, allowing for the automated production of metadata and transcripts for video, as well as time and range-based annotation, cropping, and subtitles.
Major players in the digital asset management industry are Adobe, OpenText, MediaBeacon, Aprimo, Bynder, Widen, Cognizant, CELUM, Canto, Northplains, Oracle Corporation, IBM Corporation, Nuxeo, Digizuite, Cloudinary, MediaValet, Extensis, QBNK Holding AB, Dell Technologies, IntelligenceBank, Sitecore, Wedia, Censhare, BrandMaker, Brandfolder, Bright, MarcomCentral, Filecamp, and Webdam Inc.
In April 2021, Hyland Software, a US-based software company acquired Nuxeo for an undisclosed amount. Nuxeo is a US-based company that offers digital asset management solutions. Through this acquisition, Nuxeo reinforces Hyland’s commitment to cloud-native platforms and open-source communities while expanding its global footprint with additional team members, customers, and partners.
The Business Research Company’s report titled Digital Asset Management Global Market Report 2021 – By Type (Solution, Services), By Deployment Type (On-Premises, Cloud), By Enterprise Size (Large Enterprises, Small And Medium-Sized Enterprises (SMEs)), By Application (Sales, Marketing, IT, Photography, Graphics And Designing), By End User (Media And Entertainment, BFSI, Retail, Healthcare, Automotive And Manufacturing), COVID-19 Implications And Growth covers major digital asset management companies, digital asset management market share by company, digital asset management manufacturers, digital asset management market size, and digital asset management market forecasts. The report also covers the global digital asset management market and its segments.
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The global digital asset management market is expected to grow from $3.60 billion in 2020 to $4.30 billion in 2021 at a compound annual growth rate (CAGR) of 19.4%. The change in growth trend of the DAM market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The DAM market is expected to reach $7.96 billion in 2025 at a CAGR of 16.6%
The main types of digital asset management are solutions and services. Solutions allow users to develop, manage, distribute, monitor and locate digital assets while still managing the creative process. The various deployment modes include on-premises and cloud and are employed in different enterprise sizes such as large enterprises and small and medium-sized enterprises (SMEs). These are used in sales, marketing, IT, photography, graphics and designing, others and are implemented in various verticals such as media and entertainment, BFSI, retail, healthcare, automotive and manufacturing, others.
North America accounts for the largest share in the DAM market. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the DAM market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Digital Asset Management Global Market Report 2021 – COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provide digital asset management market overviews, digital asset management market analyze and forecast market size and growth for the whole market, digital asset management market segments and geographies, digital asset management market trends, digital asset management market drivers, digital asset management market restraints, digital asset management market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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