Digital Asset Management Market by Type (Solution and Service) and Application (Sales, Marketing, IT, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023

According to a new report by Allied Market Research, titled, Digital Asset Management Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global digital asset management market was valued at $1,928 million in 2016, and is projected to reach at $5,287 million by 2023, growing at a CAGR of 13.7% from 2017 to 2023. This is attributed to increase in need for advanced and real-time digital content management solutions and services among end-user industries.

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Increased need for collaborative digital workflow especially for marketing applications has encouraged end-user industries to invest on enhanced digital asset management solutions and services. Furthermore, rise in need to meet the regulatory compliance and efficient data integration are estimated to fuel the market growth during the forecast period. However, high initial cost associated with the deployment of digital asset management solutions and lack of skilled professionals are some of the factors that are expected to hamper the market growth.

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LIST OF TABLES
TABLE 1. GLOBAL DIGITAL ASSET MANAGEMENT MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 2. DIGITAL ASSET MANAGEMENT MARKET FOR SOLUTION SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 3. DIGITAL ASSET MANAGEMENT MARKET FOR SERVICE SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 4. GLOBAL DIGITAL ASSET MANAGEMENT MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 5. DIGITAL ASSET MANAGEMENT MARKET FOR SALES SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 6. DIGITAL ASSET MANAGEMENT MARKET FOR MARKETING SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 7. DIGITAL ASSET MANAGEMENT MARKET FOR IT SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 8. DIGITAL ASSET MANAGEMENT MARKET FOR OTHER SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 9. DIGITAL ASSET MANAGEMENT MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 10. NORTH AMERICA DIGITAL ASSET MANAGEMENT MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 11. NORTH AMERICA DIGITAL ASSET MANAGEMENT MARKET, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 12. NORTH AMERICA DIGITAL ASSET MANAGEMENT MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 13. EUROPE DIGITAL ASSET MANAGEMENT MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 14. EUROPE DIGITAL ASSET MANAGEMENT MARKET, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 15. EUROPE DIGITAL ASSET MANAGEMENT MARKET, BY COUNTRY, 2016-2023 ($MILLION)

The service segment is projected to grow at the CAGR of around 18% during the forecast period. Increase in demand for enhanced content management solutions and rise in competition among end-user organizations globally are anticipated to boost the segment growth during the forecast period.

The IT segment dominated the market in 2016, whereas the marketing segment is projected to witness the highest CAGR of 15% during the forecast period. This is attributed to growth in adoption of real-time digital asset management solutions among marketing departments of end-user industries to assist sales department with up-to-date content.

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Segment Overview
The global digital asset management market is segmented based on type, application, and geography. Based on the type, it is bifurcated into solution and service segments. By application, it is divided into sales, marketing, IT, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The Key Market Players Profiled in the Report:
• ADAM SOFTWARE NV
• ADOBE SYSTEMS INCORPORATED
• COGNIZANT TECHNOLOGY SOLUTIONS CORP
• EMC CORPORATION
• HEWLETT-PACKARD (HP)
• IBM CORPORATION
• NORTHPLAINS SYSTEMS
• OPENTEXT CORPORATION
• ORACLE CORPORATION
• WIDEN ENTERPRISES

At present, some specific group of industries, such as small and medium enterprises (SMEs) lack in adoption of digital asset management solutions and services due to high cost. Introduction of government acts and increase in competition are anticipated to encourage industries to invest into DAM solutions and services. Thus, the impact of this factor is anticipated to increase by the end of 2023.

In the past few years, digitization among end-user verticals have increased at a tremendous rate. To sustain the competition organizations are anticipated to invest on advance digital asset management solutions and services.
Some key players-operating in the digital asset management market-focus on enhancing their expertise in digital content management by acquiring well-established, start-ups, and local firms. For instance, in 2014, Oracle Corporation acquired Front Porch Digital-a content storage management solution provider-to strengthen its capabilities in rich media content management market.

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