[January 20, 2017] |
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Digital Asset Management - Market Drivers and Forecast from Technavio
Technavio
analysts forecast the global
digital asset management market to grow at a CAGR of
close to 21% during the forecast period, according to their latest
report.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170120005057/en/
Technavio has published a new report on the global digital asset management market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of
the global
digital asset management (DAM) market for 2017-2021. The study
considers revenue generated from the sales of software licenses and
subscriptions costs, software implementation costs, and technical
support and maintenance costs to determine the market size.
Region wise, the Americas occupy the largest market segment with a share
of over 51% as one of the early adopters of enterprise DAM solutions.
Currently, the adoption of cloud-based delivery of DAM services is
contributing to the growth of the market. Government regulations have
pushed for transparency and complete accountability, which has created
the need for managing and maintaining company publications and having
transparent marketing content.
"Adobe Systems (News - Alert), one of the key vendors in the global DAM market
mainly focuses on digital marketing and digital media solutions. The
company offers DAM system within its Adobe Experience Manager solution,
where the customers have complete control over their digital assets,
which is a major reason for their popularity," says Ishmeet
Kaur, one of the lead analysts at Technavio for enterprise
application research.
Request a sample report: http://www.technavio.com/request-a-sample?report=55475
Technavio's sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.
Technavio analysts highlight the following three factors that are
contributing to the growth of the global DAM market:
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Shift from on-premises to cloud-based solutions
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Increased use of DAM across retail, media, and entertainment industries
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Increased need for complex management of rich media content
Shift from on-premises to cloud-based solutions
DAM vendors are gradually shifting from providing on-premises solutions
to cloud-based solutions, which offer drag-and-drop functionality,
mobile accessibility, and a more intuitive service. Vendors are
targeting companies of all sizes by offering affordable solutions and
rapid deployment of the same for all business users and their digital
asset needs. The key reason behind its popularity is the pay-per-use
pricing model where clients pay only for what they use. These services
are available in three deployment models: infrastructure
as a service (IaaS), platform
as a service (PaaS), and software
as a service (SaaS (News - Alert)).
Cloud-based storage services have customers from multiple industry
verticals who opt for these services to meet their digital storage
needs. These industries are choosing cloud-based storage services as
most of the service providers manage not only digital files but also
offer disaster recovery solutions, which is attractive to many
companies. Therefore, cloud storage solutions allow organizations to use
cloud storage services as per storage requirements, which is driving the
market growth.
Increased use of DAM across retail, media, and entertainment
industries
"Digital marketing is currently the most effective form of
marketing, with most industries using this platform to meet their
marketing targets. The almost complete ubiquity of the internet and
widespread penetration of smartphones and laptops with continuously
increasing online usage have encouraged companies to adopt DAM as an
add-on to boost business development initiatives," says Ishmeet.
In sectors like retail, media, and entertainment industries, where the
product margins are low, there is a high pressure on companies to ensure
profits with minimum investments made into marketing. This has
encouraged organizations to consider digital marketing to create higher
efficiencies in store operations through improved workforce management,
product placement, and store layouts. These industries continue to
leverage DAM solutions with technologies, such as next-generation
interactive services, search engine optimization (SEO), and mobility to
ensure sales, thereby boosting revenue to the DAM market.
Increased need for complex management of rich media content
Navigating through online digital content has become cumbersome with the
volume of online content increasing exponentially. Using a normal search
function to look within thousands of files for specific text on a
network drive is extremely time consuming and complex.
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As of 2016, the total time spent consuming digital media from
desktop devices grew 16% and the total amount of time spent with
digital media increased by more than 40% from 2014. This is driven
largely by the use of mobile devices such as laptops, smartphones,
and tablets.
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Organizations are using DAM for organizing, storing, and locating a
specific image or a video among thousands of digital assets spread
across many folders. With these solutions, organizations can not only
create an archive and develop an infrastructure to store and manage
digital assets, but also facilitates a search functionality that allows
end-users to identify, locate, and retrieve an asset quickly.
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
If you are interested in more information, please contact our media team
at [email protected].
View source version on businesswire.com: http://www.businesswire.com/news/home/20170120005057/en/
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