DAM Software - What's Driving the Market Demand?
DAM software is critical to optimal performance in the enterprise environment. DAM software facilitates quick and efficient storage, retrieval and reuse of the digital assets.
Feeding the DAM software market growth is the increased volume of rich media coupled with the wealth of devices to create, send and receive digital media. Furthermore, The Association of Graphic Solutions Providers (IPA) reports an increasing number of multi-channel targeted marketing programs have caused an explosion in the number of digital assets to manage.
The primary reason companies are implementing DAM software systems is to increase operational productivity. "Companies are desperately trying to supplement a lack of top line revenue with increased productivity to maximize profitability," according to Ian Michiels, Director of Customer Management Technology at the Aberdeen Group and author of the 2009 Benchmark Report: The Marketers' Guide to Justifying Investments in Digital Asset Management.
Other reasons organizations implement DAM software systems include: increase return on existing creative and marketing investments; improve speed, efficiency and consistency with marketing initiatives; improve existing customer relationships with value added services; and to create new revenue streams.
"DAM Takes On Many Roles," a KMWorld article by Judy Lamont states the market for DAM software solutions remains robust, driven by increasing demand for rich media on Web sites, for marketing materials and in technical documentation. Ideally, assets for those purposes are managed centrally and published as needed to different destinations. The annual market stands at about $600 million, and historically has posted double-digit growth.
ABI Research adds that DAM software market drivers include: an increased need for collaborative workflows across divisions in an enterprise; increasing bandwidth and falling storage cost; new and emerging markets adopting digital media technology; and the evolution of multiple channels of content delivery.
DAM software has enabled businesses to store and access all their digital media and brand assets within a single point of management. DAM software includes the business rules and processes to obtain, store, index, secure, search, and transform digital assets and their metadata (descriptive information). Other keys to DAM software systems include tools to monitor storage state of files and restore backup copies in case primary data is damaged. It also monitors use of storage capacity, software/hardware failures, provides support for technology/system migration, and eases ingestion and access policies for data movement in enterprises.
Want to learn more about Widen DAM asset management products? Check out the links on the right or watch recorded demos.
To compare types of DAM solutions, learn more about hosted and installed delivery models of digital asset software.
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