The new report by Expert Market Research titled, ‘Global Digital Asset Management Best Practices Market Growth, Share, Price, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global digital asset management best practices market, assessing the market based on its segments like end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028): –
- Historical Market Size (2020): USD 3.6 Billion
- Forecast CAGR (2023-2028): 17%
Increased internet penetration, standardization of communication protocols, expanding acceptance of IoT, and the growing requirement to manage data efficiently are driving the worldwide digital asset management best practices market. With rising digitisation and flexibility among businesses, digital asset management providers are stepping up their efforts to meet consumer demand.
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Organizations are building a comprehensive quality evaluation procedure to evaluate the financial savings and future investment return of implementing digital asset management, which will help the industry flourish.
Industry Definition and Major Segments
The approach and instrument for storing, managing, retrieving, and exchanging digital assets are known as digital asset management (DAM). It makes assets available to employees, freelancers, shareholders, and clients through a centralized library administered by a human or team. Images, movies, audio files, documents, slideshows, and creative materials are among the assets kept.
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Based on end-use, the industry can be segmented into:
- Asset Management
- Dam Deployment
- Dam Integration Capabilities
- Intellectual Property Management
- Social Media Management
- Digital Asset Management – Analytics
- Measuring ROI/Impact of Digital Assets
- Improvement Initiatives
- Miscellaneous Information
- Challenges and Solutions
Based on region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Companies all around the world are implementing digital asset management to cut expenses and unify business procedures across the board. As a result of rising digitalization and mobility among businesses, digital asset management companies are stepping up their efforts to gain revenue. Key market players are using strategic acquisition as a means of developing new services and gaining traction in the digital asset management market.
Adoption of digital asset management must be justified by assessing financial savings as a result of time savings and accompanying compensation savings for related staff. As a result, businesses develop a systematic performance evaluation framework to evaluate financial savings and return on investment from digital asset management implementation.
The market is expected to develop at a healthy rate, owing to businesses’ growing desire for sophisticated media content for marketing products and brands. Furthermore, as businesses embrace more portable devices, security concerns have increased, driving up demand for digital asset management solutions. During the forecasted period, the Asia-Pacific market is expected to develop at the fastest CAGR.
Emerging economies such as China, India, Japan, Singapore, Malaysia, and Australia make up the APAC area. The adoption of digital asset management systems is expected to increase in this region. Large corporations in the US and the UK are seeking expanding countries and new avenues in the APAC region, which may be ascribed to the rising need for digital marketing and the proliferation of digital content.
Key Market Players
The major players in the market are Mediabeacon, Cognizant, Celum, Widen, Bynder, Opentext, Adobe, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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