Digital Asset Management Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.88 Billion |
| Market Size (2029) | USD 11.41 Billion |
| CAGR (2024 - 2029) | 14.16 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Digital Asset Management Market Analysis
The Digital Asset Management Market size is estimated at USD 5.88 billion in 2024, and is expected to reach USD 11.41 billion by 2029, growing at a CAGR of 14.16% during the forecast period (2024-2029).
- With the increasing automation and connected devices trend, digital content has significantly increased over recent years. The growing data volume has created digital assets. Digital assets have become important enough that digital asset management companies are coming on board. DAMs provide digital security for businesses, allowing them to safely store, organize, and instantly access their digital assets. The demand for Digital Assets is growing at an accelerating rate across the different categories. Conventional investors (hedge funds and family offices) in all major markets are increasingly exposed to digital assets. Most investors perceive digital assets positively.
- Further, the growing strategic developments, such as solution launches and collaborations with the growing demand for digital assets, are analyzed to contribute to the market growth rate during the forecast period.
- For instance, in February 2024, Obligate joined forces with Archax in a strategic partnership that was aimed at shaping the digital asset management landscape. A strong ecosystem, promising a complete set of products and services to clients, is created by Obligate's advanced platform for on-chain capital markets in conjunction with Archax's broad range of digital asset management services.
- As part of the collaboration, Obligate clients gain seamless on-ramp access from fiat into digital assets, leveraging Archax's UK-regulated digital asset custody services. The collaboration would offer clients an expanded range of products and services in the field of Digital Asset Management, with both companies expecting a positive impact. Archax, the first company to be regulated by the Financial Conduct Authority as a digital securities exchange, custodian, and broker, will expand its offering of digital assets via Obligate's groundbreaking platform into private market securities.
- However, there is a lack of awareness about the available solutions in the market as many companies still use older enterprise content management platforms with some DAM-like capabilities but do not necessarily have purpose-built DAM solutions for creative services or marketing use cases that are required for their organizations.
- Since the outbreak of the pandemic, the digital agenda worldwide has witnessed a newfound growth in adoption, pushing businesses to adopt digital-first strategies. COVID-19 has caused significant disruption to business on a global scale and accelerated the growth of cyber-criminal activities in private and government enterprises supported by digital transformation.
Digital Asset Management Market Trends
Cloud Deployment to Hold Significant Market Share
- The emergence of cloud services, including IaaS, PaaS, and SaaS, has raised the demand for the development of Digital asset management (DAM) software designed to be implemented through the cloud-based SaaS model implementations in line with the growth of cloud environment in all the businesses worldwide, driving the cloud deployment of the DAM software in the market.
- Additionally, in cloud-based deployment, the digital assets of an organization can be stored in a centralized, online database that users can access anytime, anywhere, without the need for on-site servers or storage devices, which can streamline workflows and improve collaboration, precisely critical aspects in fields such as marketing and sales, product development, and customer service, supporting the organization to have better productivity and operational efficiencies, which would fuel the market growth.
- With the growing adoption of cloud-based solutions in companies, a significant amount of data is generated, and it may take much work to find a company’s most valuable digital assets since companies create many digital assets to stay relevant and connected to the audience.
- Identifying the most appropriate assets to strengthen digital asset management security is essential. Companies should identify brand assets to be kept and disposed of with the help of stakeholders and team members. Companies can make space for unique and relevant assets through the learning journey for brand assets. Therefore, the need for digital asset management solutions is expected to grow significantly.
- In addition, the cloud approach enables automatic backup and data transfer security between networks, improving data protection and disaster recovery capabilities. Therefore, cloud-based Digital Asset Management is an innovation tool that provides increased use, security, and efficiency for managing digital assets. It enables organizations to use technology to simplify their processes, foster collaboration, increase productivity, and ensure the security of assets, playing an essential role during the Digital Transformation process. Further, the growing collaborations in Digital Asset Management solutions are analyzed to bolster the market growth rate during the forecast period.
North America to Hold the Largest Market Share
- The United States digital asset management market holds a major market share, characterized by the presence of major market vendors, integration of advanced technologies in DAM solutions, and rising demand from end-user industries to enhance customer digital experience.
- Furthermore, the growth in the digitization of various end-user industries in the United States also leads to large data generation. Additionally, the increased cloud adoption rate in the country due to the pandemic is expected to increase companies’ digital assets, ultimately leading to the adoption of digital asset management solutions.
- The integration of AI and machine learning capabilities in digital asset management solutions is one of the key trends in the United States DAM market, with market vendors integrating generative AI capabilities in their solutions.
- In December 2023, Cloudinary announced generative AI enhancements to its enterprise digital asset management (DAM) solution and programmable media API. Cloudinary’s generative artificial intelligence capabilities offer the most powerful and easiest way to edit images at scale, thus enabling non-technical and technical users to accelerate time to market for their assets while enhancing employee autonomy and productivity.
- The digital asset management market in Canada is experiencing growth, largely driven by the ever-growing volume of digital assets produced by businesses, the growing need among enterprises to centralize all their digital assets, and the ever-increasing digital transformation and cloud adoption in organizations.
- Additionally, the increasing number of digital assets in organizations nationwide further drives the demand for digital asset management solutions to efficiently access, store, share, and manage digital assets. Furthermore, the significant presence of homegrown market vendors such as MediaValet and CleanPix, coupled with global market vendors, intensifies and supports the market’s growth.
Digital Asset Management Industry Overview
The digital asset management market is highly fragmented, with the presence of major players like Adobe Inc., Canto Inc., CELUM GmbH, Cognizant Technology Solutions Corporation, and Oracle Corporation. Players in the market are adopting strategies such as partnerships, innovations, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
- December 2023 - Cloudinary announced generative AI enhancements to its Programmable Media API and enterprise digital asset management (DAM) solution, Cloudinary Assets. Cloudinary’s generative Artificial Intelligence capabilities offer the easiest and most powerful way to edit images at scale, thus enabling technical and non-technical users to accelerate time to market for their most valuable assets while enhancing employee autonomy and productivity.
- September 2023 - Canto announced the launch of AI Visual Search, a new solution that allows users to search their entire content library based on visual descriptions. This innovative technology is ideal for digital asset management users, who often manage thousands of brand assets in their content libraries.
Digital Asset Management Market Leaders
-
Adobe Inc.
-
Canto Inc.
-
CELUM GmbH
-
Cognizant Technology Solutions Corporation
-
Oracle Corporation
*Disclaimer: Major Players sorted in no particular order
Digital Asset Management Market News
- December 2023: OpenText and Vue.ai joined forces to expand their Digital Asset Management solutions. They focused on AI-powered tagging for media assets, signaling the growing demand for AI-driven DAM solutions.
- August 2023: KeyShot, a subsidiary of Luxion Group ApS specializing in 3D visualization software, made headlines with its acquisition of Digizuite A/S. This strategic move positions KeyShot to offer comprehensive solutions for the digital supply chain landscape. By integrating Digizuite's digital asset management solutions, KeyShot aims to empower businesses with streamlined asset management, enhanced collaboration, and seamless content delivery across all channels.
Digital Asset Management Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
- 4.1 Market Overview
-
4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitute Products
- 4.3 Impact of COVID-19 on the market
5. MARKET DYNAMICS
-
5.1 Market Drivers
- 5.1.1 Increase in the Number of Digital Assets
-
5.2 Market Challenges
- 5.2.1 Lack of Awareness and Higher Costs of the Solutions
-
5.3 Key Product Features
- 5.3.1 Video Management
- 5.3.2 Creative Tool Integration
- 5.3.3 Asset Analytics
- 5.3.4 Web Content Integration
- 5.3.5 Brand Portals
- 5.3.6 Asset and Metadata Archiving
- 5.3.7 Lifecycle and Rights Management
6. MARKET SEGMENTATION
-
6.1 By Deployment
- 6.1.1 On-premise
- 6.1.2 Cloud (SaaS)
-
6.2 By Organization Size
- 6.2.1 SMEs (Small and Medium Enterprises)
- 6.2.2 Large Enterprises
-
6.3 By End User
- 6.3.1 Media and Entertainment
- 6.3.2 BFSI
- 6.3.3 Government
- 6.3.4 Healthcare
- 6.3.5 Retail
- 6.3.6 Manufacturing
- 6.3.7 Other End Users
-
6.4 By Geography
- 6.4.1 North America
- 6.4.1.1 United States
- 6.4.1.2 Canada
- 6.4.2 Europe
- 6.4.2.1 United Kingdom
- 6.4.2.2 Germany
- 6.4.2.3 France
- 6.4.2.4 Rest of Europe
- 6.4.3 Asia-Pacific
- 6.4.3.1 China
- 6.4.3.2 India
- 6.4.3.3 Japan
- 6.4.3.4 Rest of Asia-Pacific
- 6.4.4 Rest of the World (Latin America and Middle East and Africa)
7. COMPETITIVE LANDSCAPE
-
7.1 Company Profiles*
- 7.1.1 Adobe Systems Incorporated (Adobe Experience Manager Assets)
- 7.1.2 Canto Inc. (Canto Digital Asset Management)
- 7.1.3 CELUM GmbH (CELUM Digital Asset Management)
- 7.1.4 Cognizant Technology Solutions Corp. (assetServ)
- 7.1.5 Oracle Corporation (Oracle WebCenter Content)
- 7.1.6 Cloudinary Ltd (Digital Asset Management)
- 7.1.7 OpenText Corporation (Media Management, MediaBin)
- 7.1.8 Aprimo LLC (ADAM Software)
- 7.1.9 Bynder(Webdam Inc.)
- 7.1.10 MediaBeacon Inc. (R3volution)
- 7.1.11 IBM Corporation
- 7.1.12 Nuxeo (Nuxeo Platform)
- 7.1.13 Widen (Digital Asset Management)
- 7.1.14 Extensis (Celartem Inc.)
- 7.1.15 Digizuite A/S
8. INVESTMENT ANALYSIS
9. MARKET OUTLOOK
** Subject To AvailablityDigital Asset Management Industry Segmentation
The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study also tracks the revenue accrued from the solutions used by various end users across the globe. In addition, the study provides the digital asset management market trends, along with key vendor profiles. The study further analyses the overall impact of COVID-19 on the ecosystem.
The digital asset management market is segmented by deployment (on-premise, cloud (SaaS)), organization size (SMEs (small and medium enterprises), large enterprises), end user (media and entertainment, BFSI, government, healthcare, retail, manufacturing, and other end users), and geography (North America [United States and Canada], Europe [United Kingdom, Germany, France, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], Rest of the World [Latin America and Middle East and Africa]). The report offers market forecasts and size in value (USD) for all the above segments.
| By Deployment | On-premise | |
| Cloud (SaaS) | ||
| By Organization Size | SMEs (Small and Medium Enterprises) | |
| Large Enterprises | ||
| By End User | Media and Entertainment | |
| BFSI | ||
| Government | ||
| Healthcare | ||
| Retail | ||
| Manufacturing | ||
| Other End Users | ||
| By Geography | North America | United States |
| Canada | ||
| By Geography | Europe | United Kingdom |
| Germany | ||
| France | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| Rest of Asia-Pacific | ||
| By Geography | Rest of the World (Latin America and Middle East and Africa) |
Digital Asset Management Market Research FAQs
How big is the Digital Asset Management Market?
The Digital Asset Management Market size is expected to reach USD 5.88 billion in 2024 and grow at a CAGR of 14.16% to reach USD 11.41 billion by 2029.
What is the current Digital Asset Management Market size?
In 2024, the Digital Asset Management Market size is expected to reach USD 5.88 billion.
Who are the key players in Digital Asset Management Market?
Adobe Inc., Canto Inc., CELUM GmbH, Cognizant Technology Solutions Corporation and Oracle Corporation are the major companies operating in the Digital Asset Management Market.
Which is the fastest growing region in Digital Asset Management Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Digital Asset Management Market?
In 2024, the North America accounts for the largest market share in Digital Asset Management Market.
What years does this Digital Asset Management Market cover, and what was the market size in 2023?
In 2023, the Digital Asset Management Market size was estimated at USD 5.05 billion. The report covers the Digital Asset Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Digital Asset Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What future developments are expected in the Digital Asset Management (DAM) Market?
Future developments that are expected in the Digital Asset Management Industry are a) More advanced AI capabilities b) Increased use of blockchain for security c) Further enhancements in cloud computing technologies
Digital Asset Management Industry Report
The digital asset management (DAM) industry is experiencing robust growth, driven by the need for businesses to efficiently manage, distribute, and secure their digital assets. The digital asset management report by Mordor Intelligence™ provides a comprehensive market analysis, segmented by asset type, deployment, enterprise size, and industry. Multimedia assets, especially audio, video, and images, dominate due to increased digital content and the surge in online streaming and gaming. Cloud-based DAM solutions are favored for their scalability, improved organization, and enhanced collaboration, crucial in a digital-first environment.
While large enterprises hold a significant market share, small and medium enterprises are rapidly adopting these solutions. The media and entertainment sector leads, with e-commerce and retail sectors poised for the fastest growth, driven by online marketplace expansions. North America, Europe, and the Asia Pacific are key contributors, propelled by digital transformation and cloud adoption. Advanced technologies like AI and machine learning are integrating into DAM solutions, making digital asset management companies essential for leveraging digital assets effectively.
The market size and forecast are crucial components of understanding the industry's trajectory. The market growth is underscored by the increasing adoption of cloud-based solutions and the expansion of online marketplaces. The market report highlights the importance of digital asset management in various sectors, including media and entertainment, retail, and e-commerce.
Industry analysis reveals that the integration of advanced technologies such as AI and machine learning is significantly enhancing the capabilities of DAM solutions. The industry outlook remains positive, with a strong emphasis on digital transformation and cloud adoption driving market trends. Market leaders in the DAM industry continue to innovate, providing scalable and efficient solutions for managing digital assets.
For detailed market insights, download a free PDF sample of the digital asset management analysis from Mordor Intelligence™. The report example provides an in-depth review of industry statistics, market segmentation, and market value. Research companies are increasingly focusing on the potential of digital asset management to streamline operations and improve asset utilization.
In summary, the digital asset management market is set for significant growth, driven by technological advancements and the increasing need for efficient digital asset management across various industries. The market overview and market predictions indicate a promising future for the DAM industry, with continuous innovation and adoption of advanced technologies shaping its evolution.
