Growing Adoption of Broadband Internet in the Digital Asset Management Market
The digital asset management market worldwide is expected to grow with a CAGR of 16.0% during the forecast period from 2019 to 2027, starting from US$ 2.90 Bn in 2018. The increased adoption of broadband internet is leading to an increased demand for specialized solutions in each industry. Digital asset management offers various solutions, such as asset analytics, metadata archiving, video management, and web content management, along with a high return on investment. Furthermore, owing to an increase in workflow, the need for real-time and shared operations is rising, thus having a positive impact on the digital asset management market. Therefore, we expect the digital asset management market to show significant growth during the forecast period.
Market Synopsis
Cloud-based Deployment Segment will Led the Market
The cloud-based deployment segment is expected to show a faster pace as compared to the on-premise counterpart. The cloud-based deployment type fuels better access to digital assets data, along with quick enactment and a reduced total cost of title. Due to cloud-based deployment, digital content can be made easily available to users across an enterprise. In lieu of the cost benefits offered, small and medium enterprises shall likely adopt a cloud-based method for implementing digital asset management solutions. Further, higher scalability and speed support the fast growth of this model. Thus, we expect the cloud-based segment to be the largest revenue-sharing segment during the forecast period of 2019-2027.
The Asia Pacific to Grow Significantly during the Forecast Period
In 2018, North America had a relatively high share of the global digital asset management market. Due to the early adoption of digital asset management and the rapid rate of technological advancement in the region, the market is expected to ensure robust growth throughout the forecast period. Further, Asia Pacific is set to grow significantly during the forecast period. The region's major economies, say Japan, have recognized Bitcoin and other digital currencies as money. This shall boost the demand for digital asset management in the region. As a result, we expect the Asia Pacific region to be the fastest-growing region throughout the forecast period.
Some prominent players operating in the digital asset management market are Adobe Systems Incorporated, OpenText Corporation, Celum, Mediabeacon, Inc., Canto, Widen, Bynder, Northplains, Mediavalet, Inc., and Cognizant, among others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segments was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The digital asset management market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global digital asset management market based on component, application, deployment model, organization size, vertical, and geography.
Frequently Asked Questions
The market for Digital Asset Management is expected to reach US$ 2.90 Bn in 2028.
The Digital Asset Management market is expected to see significant CAGR growth over the coming years, at 16.0%.
The report is forecasted from 2019-2027.
The base year of this report is 2021.
Adobe Systems Incorporated, Open Text Corporation., Celum, Mediabeacon, Inc., Canto, Inc, Widen, Bynder, Northplains, Mediavalet, Inc. are some of the major players in the global market.
