March 28, 2020
Digital Asset Management

Digital Asset Management Market 2019 shows growth drivers, opportunities and forecast analysis to 2027

The global market for digital asset management worldwide was valued at US$ 2.9 billion in 2018 and is expected to grow over the forecast period with a CAGR of 16.0 %.

Rising adoption of electronic gadgets and systems Customer engagement has emerged over the past few years as an effective method for customer retention and digital asset management enables real-time customer engagement. Backed by globalization and the need to work with the different segments, the need for a better process has been stressed. During the forecast period, the different offerings from the digital asset management will mark a remarkable growth for the digital asset management market.

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Small and medium-sized businesses will grow at the fastest CAGR during the forecast period based on the type of organization. Small and medium-sized enterprises suffer from a relatively higher resource crunch than large enterprises and thus require better procedures to solve intricacy on a cost-effective basis. The adoption of digital asset management enables the implementation of feasible solutions for managing and maintaining metadata and digital assets. SMEs are able to focus more on business operations than the cost of maintaining digital asset management because of the use of these services and solutions. We therefore expect the segment of small and medium-sized enterprises to be the fastest-growing segment in the forecast period.

North America dominates the market for digital asset management in 2018 based on geography. In addition, during the forecast period, Asia Pacific will be the fastest-growing region. Increased acceptance of digital asset management in India and Japan is driving the market in the region. Digital asset management offers a solution to the complexity of content, language and other regional requirements in the media and entertainment industries, and therefore has a huge demand from the Indian industry for the same. In addition, digital asset management solutions are being rapidly adopted in banks, government services, and so on. As a result, we expect the Asia Pacific region to grow significantly over the 2019-2027 forecast period.

Some of the major companies profiled in the report include Adobe Systems Incorporated, OpenText Corporation, Celum, Mediabeacon, Inc., Canto, Inc., Widen, Bynder, Northplains, Mediavalet, Inc. and Cognizant among others.

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