Digital Asset Management Market will Observe Fastest Growth in the APAC

The digital asset management market will reach USD 11,711.3 million by 2030 from USD 4,825.8 million in 2023, at a rate of 13.5% by the end of this decade. This growth of the industry has a lot to do with rate of digitalization and snowballing requirement for laptops, tablets, smartphones, and social media.

Moreover, the increasing acceptance of DAM software by medium and small businesses with restricted resources to improve their processes has considerably contributed to the market growth.

On the basis of organization size, the industry will continue to be powered by large enterprises. DAM solutions have built-in digital rights management, for offering companies enhanced asset control, access, and use.

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At large, enterprise DAM software lets teams to improve productivity through the digital content lifecycle. This includes organizing, consolidating, sharing, and collaborating on digital assets, such as images, presentation, docs, videos, and creative files at one location, for handling the content better.

Moreover, the enormous volumes of digital content formed and consumed by these corporations can make it problematic for them to store and correctly organize it. Consequently, enhanced by their monetary stability, these corporations are spending generously on these solutions, to reach customers far away with the correct content at the accurate time.

The media & entertainment category was the leader of the industry. This is because of the increasing consumption of digital content, for example music, videos, news, influencer blogs, product reviews, and mobile games. The pandemic brought about the implementation of lockdowns which made people turn to online content for killing their time and entertain themselves.

With the volume of digital content rising fast, efficient methods are desired for storing, organizing, publishing, recreating, and distributing it across numerous platforms. In this regard, the acceptance of OTT platforms drives the industry, as they are, basically, vast repositories of on-demand audio and video, which companies require to organize, uphold, and update regularly.

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North America was the leader of the digital asset management market in the past, for the reason that of the widespread use of digital content by the public, supportive IT infra, such as 5G connectivity; fast digitization of enterprise content, growing acceptance of cloud solutions, huge number of data centers, and increasing acceptance of ML, NLP, AI, and big data analysis in content management.

APAC will express the highest growth in the industry in the years to come. Due to the difficulties of content, language, and other regional aspects, the customers in India are complex to handle for media & entertainment corporations.

The growing demand for tablets and laptops all over the world has a positive impact on the demand for digital asset management solutions.

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