Digital Asset Management Market size is anticipated to reach USD 33 Billion by the end of 2035, growing at a CAGR of 16.60% during the forecast period, i.e., 2023-2035. In the year 2023, the industry size of digital asset management was over USD 5 Billion. The market growth is mainly owing to the increasing demand for digital content across various industries, such as media and entertainment, retail, healthcare, and education. The rise of social media and the need to create and manage engaging digital experiences for customers are also driving the growth of the DAM market. As of the year 2021, there are nearly 4.5 billion social media users worldwide, which represents 56% of the total global population. The Digital Asset Management (DAM) market refers to the software solutions and tools that organizations use to store, organize, manage, and distribute their digital assets, such as images, videos, documents, and other multimedia files.
In addition to this, it was noted that the average person spends 2 hours and 25 minutes per day on social media. Facebook is the largest social media platform, with over 2.9 billion monthly active users as of the year 2021. Instagram had over 1.2 billion monthly active users as of 2021. Social media advertising spending was noted to reach USD 110 billion in the year 2021. The most popular type of content shared on social media is images. These statistics demonstrate the immense influence that social media has on the way people interact with each other and consume content online, as well as the significant opportunities for businesses and marketers to reach and engage with their target audiences through social media channels. Hence, these factors are expected to add to growth of the global digital asset management market over the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
16.60% |
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Base Year Market Size (2023) |
USD 5 Billion |
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Forecast Year Market Size (2035) |
USD 33 Billion |
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Regional Scope |
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End-user (BFSI, IT, Telecom, Media, Entertainment, Government, Healthcare)
The global digital asset management market is segmented and analyzed for demand and supply by end user into BFSI, IT and telecom, media and entertainment, government, and healthcare. Out of the five types of applications, the healthcare segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be accredited to the presence of large number of patients in the healthcare industry, which is expanding notably. The hospitals in the healthcare sector are also growing rapidly in number. For instance, by the year 2022 there was noted to be approximately 6,100 hospitals in the United States. Hospitals provide a wide range of medical care. Physicians, called hospital doctors, typically specialize in internal medicine, pediatrics, or general practice. They have the knowledge to solve common problems and the resources to solve more complex medical problems. Hospitals may also offer specialized care, such as neurology, obstetrics and gynecology, and oncology. By definition of a hospital, a county hospital is typically a primary medical facility in a region with numerous intensive care and mobile beds for patients requiring long-term care.
Component (Solutions, Services)
The global digital asset management market is also segmented and analyzed for demand and supply by component into solutions, and services. Amongst these two segments, the services segment is expected to garner a significant share of around ~60% in the year 2035. The growth of the segment can be accredited to the increasing demand for consulting services. As organizations increasingly recognize the importance of DAM solutions in managing digital assets, they may need consulting services to help them select the right DAM solution that meets their business requirements. Consulting services can also help organizations develop a roadmap for implementing DAM solutions and ensuring their successful adoption. DAM solutions often need to be integrated with other systems such as content management systems (CMS), customer relationship management (CRM) systems, and marketing automation platforms. Integrating DAM solutions with existing systems can be complex and may require specialized skills and expertise. DAM solution providers can offer integration services to help organizations overcome these challenges. DAM solutions require ongoing maintenance and support to ensure their continued operation and effectiveness. DAM solution providers can offer maintenance and support services to help organizations address any issues that arise, as well as provide upgrades and enhancements to keep the solution up-to-date. Hence, all of these factors are estimated to add to the segmental growth notably over the forecast period.
Our in-depth analysis of the global digital asset management market includes the following segments:
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By End User |
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By Component
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North American Market Forecast
The digital asset management market in the North America region, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The regional growth can majorly be attributed to the region's strong digital economy and high adoption of advanced technologies. North America has a highly developed digital economy, and businesses in the region are increasingly adopting advanced technologies such as artificial intelligence (AI), machine learning (ML), and big data analytics. These technologies require efficient management of digital assets, driving demand for DAM solutions. According to a report by, 47% of organizations in North America use a DAM system, compared to 39% globally. In a survey of 250 professionals from various industries in North America, 68% of respondents reported that their organization had implemented a DAM system. The North America region has a large number of media and entertainment companies, which are increasingly using digital media to engage with audiences. This trend is driving demand for DAM solutions to manage digital assets such as images, videos, and audio files.
APAC Market Statistics
The digital asset management market in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the rising demand for cloud-based solutions. The adoption of cloud-based DAM solutions is increasing rapidly in the APAC region owing to their cost-effectiveness, flexibility, and scalability. Cloud-based DAM solutions allow businesses to manage digital assets from anywhere, enabling collaboration among geographically dispersed teams. Social media is a major driver of digital transformation in the APAC region, with the region having some of the largest digital asset management market globally. Businesses in the region are leveraging social media to reach and engage with customers, driving demand for DAM solutions to manage digital assets such as images, videos, and graphics. Businesses in the APAC region are placing a greater emphasis on customer experience, recognizing its importance in driving customer loyalty and revenue growth. DAM solutions can help businesses deliver personalized and engaging digital experiences by providing a central repository for managing digital assets and ensuring their consistency across channels.
Europe Market Forecast
Further, the digital asset management market in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the growing demand for personalized customer experiences. European businesses are placing a greater emphasis on delivering personalized and engaging digital experiences to customers. DAM solutions can help businesses achieve this by providing a central repository for managing digital assets and ensuring their consistency across channels. The Europe region has stringent regulations around data privacy and security, such as the General Data Protection Regulation (GDPR) and the ePrivacy Regulation. DAM solutions can help businesses comply with these regulations by providing secure storage and management of digital assets. European businesses are increasingly adopting advanced technologies such as artificial intelligence (AI), machine learning (ML), and big data analytics. These technologies require efficient management of digital assets, driving demand for DAM solutions.
Adobe Inc. – Adobe announced the acquisition of Workfront, a leading work management platform for marketers. The acquisition will enable Adobe to provide a more comprehensive solution for managing digital assets, workflows, and collaboration for marketers.
Bynder – Bynder announced a strategic partnership with OnBrand Magazine to launch a new publication, "The Future of Branding." The publication will feature insights and thought leadership on branding and marketing trends, and will showcase Bynder's expertise in digital asset management for marketing teams.
Author Credits: Abhishek Verma, Hetal Singh
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