Digital Asset Management Market size worth $ 13.94 Billion, Globally, by 2028 at 17.67% CAGR: Verified Market Research®

Digital Asset Management Market size worth $ 13.94 Billion, Globally, by 2028 at 17.67% CAGR: Verified Market Research®

PR Newswire

JERSEY CITY, N.J., Jan. 12, 2022

The Digital Asset Management Market is experiencing tremendous growth owing to the increasing investments and focus on digital marketing, Emergence of IoT technology improves the DAM solution is another factor that propels the growth of the market

JERSEY CITY, N.J., Jan. 12, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Digital Asset Management Market" By Application (Broadcast And Publishing, Enterprise), By Vertical (Consumer Goods And Retail, Manufacturing, Healthcare And Life Sciences), By Component (Solution, Services), and By Geography. According to Verified Market Research, the Global Digital Asset Management Market size was valued at USD 3.79 Billion in 2020 and is projected to reach USD 13.94 Billion by 2028, growing at a CAGR of 17.67% from 2021 to 2028.

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202 - Pages

126 – Tables

37 – Figures

Global Digital Asset Management Market Overview

As marketing and promotional activities are crucial for any business; the demand for digital asset management across the world is mainly due to rising investments in marketing and a strong focus on digital marketing. Also, various factors such as increasing digitalization of content and companies' assets, rising need for the effective collaboration of corporate assets, rising demand for cloud-based management solutions, growing need for controlled access, and better security of digital assets. Due to various advantages over on-premises development analytics tools, the demand for cloud-based tools is rising. Cloud-based digital asset management solution allows enterprises to utilize the virtual technology hosted by the service provider offsite.

Cloud-based digital asset management tools provide enterprises access to the applications anytime and anywhere. It is affordable as doesn't require upfront costs. Furthermore, monthly payment packages include software licenses, maintenance and support services, upgrades, support, and daily back-ups. There is no need for in-house servers and IT infrastructure as the solution is based on the cloud and internet; thus, it saves energy and other costs. It provides greater flexibility, potential scalability, and quick deployment through the internet. IT, server infrastructure, and data security is taken care of by the service providers at the data centers. Thus, the increasing adoption of cloud-based digital asset management tools over on-premises is fueling the growth of the market. However, the dearth of awareness and inclination towards conventional methods are factors restraining the market growth.

Key Developments

Key Players

The major players in the market are Adobe Systems Incorporated, OpenText Corporation, Celum, MediaBeacon, Inc., Canto, Inc., Widen, Bynder, Northplains, Mediavalet, Inc., and Cognizant, among others.

Verified Market Research has segmented the Global Digital Asset Management Market On the basis of Application, Vertical, Component, and Geography.

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