DAM emerged for the first time around 30 years ago as a specialist solution for media, publishing, and print organizations looking to store and organize their movies and photographs. At the time, these systems were mostly on-premises and only met the most fundamental requirements of Digital Asset Management systems in use today. A few large IT enterprises were also searching for on-premises DAMs, but in order to meet their needs, the solutions needed to be customized extensively and implemented gradually.
Recent years have seen the first evolution of DAM beyond the fundamental media solution stage. DAM providers have increased the amount of storage they offer to include graphics and visuals in order to meet the growing need for asset development and the growing importance of branding and visuals. In response to this new use-case, e-commerce and large consumer brands began to integrate Digital asset management systems into their creative, photographic, and video production teams, allowing users to easily access brand assets. Expert marketers started using a DAM as a brand portal to share logos, guarantee brand coherence, and give their employees visuals that are in line with their brand. However, managing photos, videos, and visual documents remained the DAM's main priority.
The complexity of asset kinds has increased dramatically in recent years, particularly with the growth of brand management. Reusing materials became more important as a result of organizations starting to devote more time and money to building their brands. Businesses started to invest more in information production and distribution, therefore it became crucial to expand each image over a variety of media and platforms. This shift increased the importance of DAM for scaling marketing campaigns and the necessity of metadata for automating the branding approach. In response, DAM providers invested heavily in developing and growing connectors with prominent marketing technology platforms, including as Adobe Creative Cloud and eCommerce, marketing automation, and social media management solutions.
In essence, DAM aims to support departmental collaboration by providing resources and incentivizing departmental cooperation. Businesses can create a ""integrated ecosystem"" by dismantling operational silos and using a Digital Asset Management to connect all external and internal platforms. This will give customers a consistent, seamless experience across all channels. By implementing a DAM to connect organizational assets and material to every point of contact, from sales to support, businesses can enhance their corporate identity and truly transform into a digital workforce.
As stated by Quadrant Knowledge Solutions, "Digital Asset Management (DAM) is a technology and system that helps businesses store, arrange, and retrieve digital content. It is a user-friendly centralized database that facilitates asset management by serving as a library and offering structured storage for various media types, such as text, images, audio, videos, and documents. The Digital asset management system ensures significant work time savings and increases the efficiency of the companies by integrating well with various social media platforms and Internet of Things (IoT) devices like cameras and sensors. Organizations and the stakeholders in them that have access to vital digital assets can also run it.
Key questions this study will answer:
Is the market for Digital Asset Management (DAM) expanding? What are the digital asset management (DAM) market's prospects for growth, both in the short and long terms?
Which are the main factors driving the worldwide market for digital asset management (DAM) and which are holding it back?
Which industries are the primary consumers of digital asset management (DAM) solutions?
Which sectors have the most potential for growth throughout the projected period?
Which geographical area in the world presents the most potential for growth in the digital asset management (DAM) industry?
Which clientele groups use digital asset management (DAM) the most frequently?
What are the different Digital Asset Management (DAM) deployment options?
Vendors covered in this study:
Adobe, OpenText, Aprimo, Bynder, Acquia, WoodWing, censhare, Wedia, Veeva Systems, Sitecore, Smartsheet, Cloudinary, Hyland, Canto, Tenovos, MediaBeacon, MarcomCentral, Northplains, CELUM, Extensis, BrandMaker, Digizuite, and MediaValet.
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