Digital Asset Management Market Segmented By Solutions, Services, Consulting, Integration and Implementation, Training, Support and Maintenance on On-premise, Cloud Deployment Model
Industry: IT and Telecommunication
Published Date: April-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 345
Report ID: PMRREP33052
The digital asset management market is expected to expand its roots in the global market at a promising CAGR of 10.3% between 2024 and 2032.
The market is valued at US$ 5.2 bn in 2024 and is likely to reach US$ 11.4 Bn by 2032. Previously, the market was thriving at a slightly higher CAGR of 12% (2015-2023), resulting in market size of US$ 3.8 Bn in 2023.
“Better management of data assets and rising digitization of corporate spaces are fueling the demand for digital asset management solutions, enhancing and securing data storages, digital assets including documents, videos and images. These fuel the sales of digital asset management solutions.”
The advent of artificial intelligence integrating with digital asset management solutions enables better operability and storage access and asset management. The use of HR management tools for recruitment-related documents and verification along with digital asset management systems is another factor that drives the market.
| Attributes | Details |
|---|---|
|
Digital Asset Management Market CAGR (2024-2032) |
10.3% |
|
Market Share (2024) |
US$ 5.2 Bn |
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Market Size (2032) |
US$ 11.4 Bn |
Covid-19 has impacted multiple global markets by rearranging the supply chains due to the market restrictions and logistics bans introduced by governments around the world. The covid-19 has increased and brought business to the market.
Remote working has increased the use of asset management solutions and streamlining solutions, enrichment, delivery, and analysis of digital assets. This also segments and filters different documents, fueling the growth of the market. Covid-19 has affected small and medium-size enterprises due to multiple shutdowns and lockdowns.
This declined the market’s growth during that period though collaborating technologies and increased demand from the information technology (IT) sector has pushed the market forth.
Changing customer behavior and increased speed transfer of digital assets, and shift toward cloud storage are the major factors behind the growth of the market.
Companies and their corporate spaces are working towards the enrichment of their digital assets, increasing asset volume. Corporates are moving towards the adoption of cloud storage as it is more convenient, enlarged and easily implemented.
Cloud platform providers also provide integrated technology that provides cloud-based DAM solutions to help these businesses in their major databases operations, fueling the sales of digital asset management solutions.
Some of these vendors partnered with tech giants like AWS and Google, expanding their digital spaces in new markets. For instance, the state of digital asset management report explains that 62% of surveyed companies are implementing cloud-based DAM.
The high capital investments needed for the implementation and maintenance of these solutions and systems are limiting the growth of the market. The pandemic has affected multiple markets and their corporate spaces, which, lastly, has declined the market.
The lockdowns and shutdowns followed by travel bans have restricted the market distribution and that lastly, hindered the growth of the market. To overcome these limitations, the vendor companies are taking necessary steps such as consulting, integration and implementation.
The market creates multiple growth opportunities, evolving with the latest market trends. The integration of the latest technologies like artificial intelligence and machine learning has opened the door for vendors to explore and experiment with asset management technologies.
Another growth opportunity created through the market is automated tagging, which helps companies in segmenting, filtering, and documenting the data assets.
As a crucial part of asset management, metadata plays an important part in managing the data asset. Though publicly available digital assets like text, images, and other content.
This might be followed up with copyright infringement lawsuits (According to the Transactional records access clearinghouse (TRAC)’s 2016 report).
The frequently changing dynamics of the digital asset management market also play an important role in hindering the market’s growth as companies look for steady data asset management solutions. However, all these challenges are a handful and have a lower impact on the market.
| Attributes | Digital asset management Market |
|---|---|
|
CAGR (2024-2032) |
10.3% |
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Market Value (2026) |
US$ 6.10 Bn |
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Growth Factor |
The market flourishes as digitization penetrates in corporate spaces, increasing the capital investments for the implementation. |
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Opportunity |
The market has created opportunities for vendors to explore and experiment with DAM solutions and services |
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Key Trends |
DAM software that enables and enhances the modern way to manage the assets including pictures, text and documents are in trend. |
| Attributes | Enterprise Asset Management Market |
|---|---|
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CAGR (2024-2032) |
8.5% |
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Market Value (2026) |
US$ 5.5 Bn |
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Growth Factor |
Major shift towards modern asset management from legacy asset management and increased use of SaaS based EAM solutions. |
|
Opportunity |
Ground breaking technologies such as AI, ML and IOT are enhancing the EAM vendors to transform the market’s ecosystem. |
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Key Trends |
Covid-19 has skyrocketed the demand EAM software as the pandemic pushed these enterprises to go online, enabling a new vertical for the market. |
| Attributes | Asset Management Market |
|---|---|
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CAGR (2024-2032) |
25.5% |
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Market Value (2026) |
US$ 1059 Bn |
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Growth Factor |
Improved return of investments (ROI), increasing and optimizing the corporate operations are pushing the market upward. |
|
Opportunity |
Digital transformation and next-gen technologies are structuring and is creating multiple growth opportunities for the market. |
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Key Trends |
Corporates use asset management tools while integrating with cloud and machine learning to prevent the hassle and smoothening the process. |
The latest trend in the market shows the integration of the latest technologies and growing sales of digital asset management in new sectors are pushing the market upwards. The growing corporate spaces demand better cloud and digital asset management solutions that include multiple solutions and services like consultation, training, and support.
However, the latest trend shows the integration of artificial intelligence and machine learning to be game-changing technologies. Vendors are now experimenting with these technologies, adding them to the software solutions based on DAM and product information management. These two complete the loop of any corporate space and the supply chains.
Developed by the tech giants, the new solution-based software focuses on smoothening the process of asset management while filtering and segmenting the information for the end-user.
The market is categorized by Component, Deployment Mode, Organization Size, Business Type, and Verticals. These categories are further divided into small segments that hold different market spaces in various regions.
The component category is divided into two sub-segments; Solutions and Services – Consulting, Integration and Implementation, Training, Support, and Maintenance, while deployment mode is divided into cloud and on-premises. The organization size category is divided between SMEs and large enterprises, while the business category is segmented into human resources, sales & marketing, and IT.
The last vertical category is segmented into BFSI, government and public sector, healthcare, IT and telecom, manufacturing, media and entertainment, travel and hospitality, and retail and eCommerce.
By component, the solutions segment is the biggest segment in digital asset management, thriving on a promising CAGR of 9.7%. The factor behind the excessive growth of this segment is its easy implementation, better availability, and expanded distribution channels.
Software-based solutions are easily installed and store assets perfectly. It manages digital management assets through cloud storage, fueling the sales of the digital asset management industry in new regions.
By business function, the human resource segment is the biggest segment in the market that thrives on a CAGR of 9.8% between 2024 and 2032. The factors that drive the high sales of this segment are its high consumption in HR departments or HR firms.
It is highly used for HR operations like recruitment, talent acquisition, and profile data are high and need to be filtered and then segmented properly. Digital asset management solutions help companies in transferring and managing these HR-related assets with ease.
| Regions | CAGR (2024-2032) |
|---|---|
|
United States |
10% |
|
United Kingdom |
9.0% |
|
China |
10% |
|
Japan |
9.5% |
|
South Korea |
8.8% |
The digital asset management market is divided into regions; North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.
The biggest market is the United States, thriving at a CAGR of 10% between 2024 to 2032. The factors behind this excessive growth in this region are spreading corporate spaces, increasing data and storage issues, data safety, and digitization of old market spaces. It is expected to hold a market revenue of US$ 4 Bn by the end of 2032.
Apart from this, China holds the same growth potential in the digital asset management market as it also thrives on a CAGR of 10% (2024-2032) and is likely to hold US$ 825 Mn by 2032. Japan follows China and flourishes at a CAGR of 9.5% and is likely to hold US$ 681 Mn by 2032. The UK is also growing at a strong CAGR of 9% and is expected to hold US$ 492 Mn by the end of 2032.
The global study on Digital asset management market at PMR explains that the market is dynamic and offers bright growth potential for players who are following the trend and forming their market strategies according to it. It creates diversified interests as the vendors upgrade their bandwidths and add new cutting edge technology into their solution and services, allowing new competitors to play their cards.
Vendors also focus on strengthening the marketing and distribution channels and making their solutions flexible for new technologies like AI and predictive decision making. Major players also do collaborations and mergers with other significant brands that help them in enhancing customer experience along with easy purchase as there is a tough competition in the market. This expands the Digital asset management market in new market regions.
| Attributes | Details |
|---|---|
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Forecast period |
2024-2032 |
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Historical data available for |
2015-2023 |
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Market analysis |
USD Bn for Value |
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Key Countries Covered |
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By Market Segments |
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Key Companies Profiled |
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Pricing |
Available Upon Request |
By Component
By Component
By Deployment Model
By Organization Size
By Vertical
To know more about delivery timeline for this report Contact Sales
Digital asset management market is projected to have a CAGR of 10.3% through 2032.
United States is the leading region with an anticipated value of US$ 4 Bn by 2032.
Solutions segment lead the market by component with the projected CAGR of 9.7% by the end of the forecast period.
The Digital asset management market is predicted to grow US$ 11.4 Bn by 2032.
Human resource segment leads the market with the projected CAGR of 9.8% from 2022-2032.
