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Digital Asset Management Software Market Size is Projected to Hit USD 13.94 Billion at a CAGR of 13.41% by 2030 – Report by Market Research Future (MRFR)

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New York, US, Nov. 21, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), Digital Asset Management Software Market Information, by Application Areas, Deployment, End Users, and Region- Forecast to 2030, the digital asset management software is anticipated to thrive substantially during the assessment era from 2020 to 2030 at a healthy growth rate of approximately 13.41%. The reports further anticipate the market to attain a valuation of around USD 13.94 billion by the end of 2030.

Digital Asset Management Software Market Overview:

Digital asset management (DAM) software plays a part of a file manager in layman’s language, just entirely storing robust and unconnected user data and media. It stores collectible data and media in an online repository, which can be utilized further to examine and digitalize patterns. Marketing management is the crucial study of Digital Asset Management Software shaping the future of global economics. Usually, most organizations describe the procedure to be followed as per their customer bandwidth. Therefore, digital asset management software comes into the picture with builds workflows assisting in creating business models, examining various work models that can be deployed while making the actual model and operational on digital media branding to endorse their products. With the world being introduced to social and digital media platforms to sell products and attract more customers, Digital Asset Management Software is on the brink of worldwide improving the value of content published and offering the best delivery choices by reading the DAM assets summary as it also offers copyrights to organizations utilizing it without interfering with customer’s data. Digital asset management software is a secure technology storing and organizes a company’s data and assists in retrieving this when needed. There are buffers described in DAM’s memory storage areas that operate on the algorithm storing interim data when similar data extraction queries are implemented, lowering the search time and establishing effectiveness in the market. As the data is growing throughout the world, more storage is needed to sustain this data, but physical storage could be cost-effective; therefore, DAM utilizes cloud technology to store a massive volume of data and be cost-effective. Data science, in collaboration with machine learning, is employed to extract useless meaning from this data which could define the process as per company standards

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Digital Asset Management Software Market Competitive Analysis

The catalog for the prominent participants across the global Digital Asset Management Software Market includes players such as:

  • Oracle Corporation (U.S.)
  • EMC Corporation (U.S.)
  • Adobe Systems (U.S.)
  • CELUM (Austria)
  • IBM Corporation (U.S.)
  • Widen (U.S.)
  • HP (U.S.)
  • Celartem Inc. (U.S.)
  • Cognizant Technology Solutions (U.S.)
  • MediaBeacon Inc. (U.S.)

Digital Asset Management Software Market Report Scope:

Report Metric Details
Digital Asset Management Software Market Revenue forecast in 2030 USD 13.94 Billion
Digital Asset Management Software Market Growth Rate CAGR of 13.41% from 2020 to 2030
Base Year 2019
Study Period 2020-2030
Key Market Opportunities With the introduction of artificial intelligence, two decades back, the world has seen a better understanding of industrial behavior and changing the work ethics around the world
Key Market Drivers In traditional times maintaining customers was merely based on the quality of product companies were selling but with increased competition came increased responsibility towards customers

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Digital Asset Management Software Market USP Covered

Market Drivers

The global Digital Asset Management Software Market has demonstrated massive growth in recent times owing to the aspects such as increased competition, customized solutions, increasing data volume, and the introduction of artificial intelligence.

Market Restraints

On the contrary, data security concerns will likely restrict the market’s performance.

Digital Asset Management Software Market- COVID-19 Impact

The global Digital Asset Management Software Market has experienced a considerably positive development during the pandemic time. With the growing awareness among people regarding data security, the global market for digital asset management is anticipated to show substantial growth over the coming years.

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Digital Asset Management Software Market- Segment Analysis

Among all the services, the solution segment is anticipated to secure the top position across the global market for digital asset management over the review era. The key to DAM analysis reports is offering an optimum solution to data-based problems.

Among all the types, the cloud-based segment is anticipated to ensure the top spot across the global market for digital asset management over the assessment timeframe. The deployment model is considered very cost-effective, which is considered the main parameter is supporting the segment’s growth. It is used to lower the physical storage unit in a system. It is hosted by the vendor’s server and can offer remote access using a web browser. On-Premises software is usually deployed and operates on an organization’s computers & servers as it utilizes a licensed or purchased copy of the software from an independent software vendor.

Based on the industry, the BFSI segment is anticipated to hold the top position across the global market for digital asset management over the review era. It is usually considered an industry term was offering a wide variety of such financial products or services. Healthcare is defined as the organized provision of medical care to individuals or a community using the services provided by medical professionals.

Based on the end-users, the large enterprise’s segment is anticipated to secure the top position across the global market for digital asset management over the coming years. the primary parameter supporting the growth of the segment is the growing adoption of software given the digital marketing and technological advances like cloud-based advancement and AI-based advancement making it possible to utilize by every industry whether small businesses or large businesses. Each business is now implementing the software to make their business more productive and effective, helping make a high-profit share.

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Digital Asset Management Software Market Regional Analysis

The global Digital Asset Management Software Market is analyzed across five major geographies: North America, Latin America, Asia-Pacific, Europe, and the Middle East & Africa.

According to the MRFR analysis reports, the North American region is anticipated to hold the top position across the global market for digital asset management over the review timeframe. The region has the United States as the leading growth contributor, given several companies operating in cloud technology. Adobe is considered the leading growth contributor to the regional market as it utilizes the most advanced algorithms to maintain data integrity. Keeping a hardware inventory comes at the cost of utilizing more paper; thus, most nations being saviors of nature are investing in public and private sectors in coordination with the government.

The Asia-Pacific regional market for digital asset management is anticipated to demonstrate the highest growth rate over the coming years owing to the aspects such as growing share market prices and better insight into the documents & data of the companies.

Related Reports:

IT Asset Management Software Market: Component, Deployment, Tools, Organization Size, End-User – Forecast till 2030

Enterprise Asset Management Market, by Deployment, by Organization Type, by Application Vertical – Forecast 2022-2030

Plant Asset Management Market Research Report: Information by Offering, by Deployment Mode, by Asset Type, by End-User, by Region – Global Forecast till 2030

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

Forum Systems Releases GenAI Productivity-Risk Framework and two Fine-tuned Models for Enterprise Customers

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Announcing a framework to balance productivity and risk for enterprise deployments of GenAI models and releasing two fine-tuned models—Mistral QS-Sentry and Llama 3 QS-Sentry—with optimized productivity-risk profiles
Gartner Data & Analytics Summit 2024, LONDON, May 13, 2024 /PRNewswire/ — Forum Systems, a leader in LLM and API technologies, today announced the public release of two language models fine-tuned to optimize their productivity-risk profile from the Gartner® Data & Analytics Summit 2024. The research is discussed at length in two recent articles, Framework for LLM Selection by Balancing Model Risk with Workforce Productivity and Improving Productivity-Risk Profile through LLM Fine-tuning. This groundbreaking work presents a framework for balancing productivity and risk in GenAI deployments, an urgent question among business leaders today.

“LLMs security has its tradeoffs. More restrictive models will be safer but may hamper productivity. If enterprises aren’t measuring the productivity-risk balance of their models, they are in the dark about whether they’ve achieved an optimal tradeoff,” remarked Mamoon Yunus, CEO of Forum Systems. He continued, “classic machine learning metrics like precision and recall can serve as proxies for productivity and risk. Fine-tuning on extensive manual multi-vote labeled data, our LLMs show superior performance compared to base models.” 
The fine-tuned models—Mistral QS-Sentry and Llama 3 QS-Sentry—are based on Mistral-7B-Instruct-v0.2 and Meta-Llama-3-8B-Instruct.
In the first article, Forum Systems developed a framework for balancing risk and productivity and assessed the productivity-risk profile of Mistral and Llama 3 before fine-tuning. It found that, when asked to classify prompts as either safe or unsafe, Mistral was more precise and thus aligned with higher productivity, while Llama 3 was more restrictive and thus aligned with lower risk.
The second article analyzed the models after they were fine-tuned on a hand-curated dataset of about 20,000 prompts. The study showed that the productivity-risk profile of both models can see meaningful improvements after fine-tuning. Forum Systems has released both fine-tuned models on Hugging Face to contribute to the broader community of researchers and those working in AI governance and AI alignment, believing its framework for analyzing the trade-offs between productivity will also prove valuable to business leaders deploying safe and effective GenAI offerings.
As Gartner analyst Arun Chandrasekaran recently stated, “Generative AI (GenAI) has the potential to transform businesses across industries. Most business and technology leaders believe that the benefits of GenAI far outweigh its risks.” He recommends, “Put responsible AI at the heart of your generative efforts. Promote harmonious interaction among humans and machines with design thinking and by incorporating human feedback into GenAI applications.” Forum Systems agrees with Chandrasekaran’s analysis and recommendation. Its work in optimizing productivity-risk profiles of small models demonstrates that enterprise-class responsible AI deployments are within reach through fine-tuning.
Source: Gartner, 10 Best Practices for Scaling Generative AI Across the Enterprise, Arun Chandrasekaran, Leinar Ramos, Alberto Pietrobon, 10 January 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
About the Gartner Data & Analytics Summit 2024 Gartner analysts will provide additional analysis on data and analytics trends at the Gartner Data & Analytics Summits, taking place March 11-13 in Orlando, FL., March 26-27 in São Paulo, April 24-25 in Mumbai, May 13-15 in London May 21-23 in Tokyo, and July 29-30 in Sydney. Follow news and updates from the conferences on X using #GartnerDA.
About Forum SystemsForum Systems is leading the Enterprise GenAI revolution. Forum’s patent-pending QuantumSim™, together with Forum Sentry, mitigate the unpredictable nature of LLMs through integration with corporate APIs, ensuring LLM output is truthful and accurate. QuantumSim™ is secure by design and ships with industry-leading guardrails, moderation, data obfuscation, and observability for LLM-enabled offerings. Used by some of the largest global companies for building intelligent business workflows, Forum’s suite of products provides unique solutions that allow enterprises to reinvent themselves with GenAI.
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Artificial Intelligence

LG CEO EMBARKS ON STRATEGIC U.S. VISIT TO ENHANCE AI INITIATIVES

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AI as Key Driver for Future Growth and Customer Experience Innovation
SEOUL, South Korea, May 13, 2024 /PRNewswire/ — LG Electronics’ (LG) CEO, William Cho, has embarked on a strategic business trip to the tech-rich western United States, a hotspot for global tech titans and dynamic AI dialogues. Throughout his week-long visit, Cho will focus on key tasks such as attracting top-tier AI talent, communicating the company’s vision and strategy to global investors and attending the influential MS CEO Summit. These endeavors are integral to LG’s comprehensive strategy to accelerate the incorporation of AI into all its business sectors.

AI as a Crucial Catalyst for Future Growth and Customer Experience Innovation
Throughout his trip, Cho aims to secure top-notch expertise in the AI field, an area that has recently surfaced as a critical turning point in the industry. He plans to leverage this as a springboard for transforming LG’s future business portfolio and revolutionizing the customer experience.
Annually, LG introduces approximately 100 million products to the market. Given a product lifespan of seven years, it’s estimated that nearly 700 million LG products are currently in use worldwide. Furthermore, the usage data gained from customers interacting with these devices exceeds 700 billion hours. Cho anticipates this enormous pool of usage data will help accelerate LG’s AI progression and the 700 million products will function not just as customer touchpoints but also as service platforms.
“AI, Cloud, and Big Data are new opportunities for LG”
Cho commenced his itinerary by hosting a tech conference in North America on the 11th in Cupertino, California. This program is aimed at drawing in top-notch talent from abroad. Key participants included LG’s AI Lab management team and executives from LG’s various businesses including Park Hyoung-sei, president of the LG Home Entertainment Company; Eun Seok-hyun, president of LG Vehicle component Solutions Company; Dr. Kim Byoung-hoon, CTO and executive vice president; Kim Weon-bum, CHO and executive vice president; and Dr. Sokwoo Rhee, head of LG’s North America Innovation Center.
LG extended invitations to about 50 AI experts currently working in large tech firms and startups in the Bay Area, as well as doctoral researchers from renowned universities in North America. The conference focused on discussions about the company’s vision, R&D strategy and the future trajectory of AI technology development.
Cho expressed, “In the face of transformative shifts such as electrification, servitization and digitalization sweeping across diverse industries, the application of AI, cloud and big data is paving the way for novel approaches and opportunities.” He further elaborated, “These emerging opportunities represent a new potential frontier for us, given our extensive accumulation of core technologies and expertise.”
He also provided detailed insights into LG’s AI vision of ‘Affectionate Intelligence’, which was unveiled earlier this year at CES 2024. Cho emphasized that “AI should fundamentally be used to care for and empathize with customers, provide tangible benefits and improve the customer experience,” a sentiment that deeply resonated with the attendees.
Following this, he announced, “LG is transcending its status from a global leader in the home appliance and consumer electronics to transform into a ‘Smart Life Solution Company’ that expands and interconnects various customer spaces and experiences.” He added, “I envision us collaborating to reinvent dreams as we undertake bold ventures, fueled by optimism for a brighter future and a better life.”
At the event, CTO Kim Byung-hoon spoke on the subjects of ‘Paradigm Shift’ and ‘LG’s Innovation Roadmap for the Future’, and vice president Han Eun-jung of AI Lab discussed ‘Daily Life with AI’. Professors from the University of Southern California and New York University were also invited to present on generative AI and robotics technology. A panel discussion on the theme of ‘Evolution of AI’ also attracted significant interest from the attendees.
Transition from a Leading Home Appliance Brand to a Smart Life Solution Company
Cho’s second agenda includes hosting a non-deal roadshow (NDR) on May 13, where he will interact with key executives from globally influential investment firms based in San Francisco. His strategy aims to depict LG’s transformation to a comprehensive ‘Smart Life Solution Company’. This transition is anchored in broadening the company’s business portfolio, which includes accelerating B2B business in areas such as EV components, HVAC, built-in appliances’ and signage solutions. The expansion of platform-based services like webOS, and venturing into new areas for LG such as robotics and EV charging, are also integral to this transformation plan.
In particular, Cho plans to highlight how LG is proactively engaging in the development and application of AI in its business operations. He aims to stress that creating tangible customer touchpoints is more crucial than merely having superior AI to provide authentic value and experience to customers.
In this regard, LG’s customer touchpoints, secured through its 700 million devices spanning diverse spaces from homes to vehicles and commercial areas, present a significant advantage that is unmatched by other global companies. LG’s goal is to realize Affectionate Intelligence in our daily lives by leveraging extensive real-time life data and expertise orchestrating devices and services to accelerate AI development using its devices as platforms.
Securing Global AI Allies and Discovering New Business Opportunities at the MS CEO Summit
Cho is also scheduled to attend the MS CEO Summit, a private, invitation-only event taking place in Seattle, where Microsoft’s headquarters is located, for three days starting from May 14. This summit serves as a platform for CEOs and representatives of globally leading companies to discuss and exchange ideas on various topics, including the economic and business environment, as well as industry trends.
LG is diligently working to establish world-class AI capabilities, guided by a ‘3B strategy’ that focuses on Building internal capabilities or Borrowing and Buying external resources. Given LG’s extensive global customer touchpoints and its possession of a vast amount of multi-faceted data and customer insights, the opportunities for future collaborations with globally influential tech companies are expected to become increasingly diverse.
About LG Electronics, Inc.
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 84 trillion in 2023. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, automotive components and solutions, and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.
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Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
https://www.kiwidesign.com/
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