Digital Media Management and Digital Asset Management Market Drivers

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The recent KMWorld article DAM takes on many roles reports “The market for digital asset management (DAM) 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.”

KMWorld reports the annual market stands at about $600 million, and historically has posted double-digit growth. ABI Research forecasts the market to top $1 billion in 2013.

Feeding the DAM 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.

Moreover, Frost & Sullivan reports that apart from the increased creation and use of digital media, the average file size of content is also increasing. To take the example of images, both the files size and the pure number of digital images taken have steadily increased each year. This is true for almost all media types from text to images and audio/visual content. The emergence and popularity of high definition video has been further fueled by the availability of numerous devices to receive content. This burgeoning demand has created a huge infrastructure challenge. High resolution images and video are storage and bandwidth intensive. For more on the DAM Market Overview and Challenges, download the DAM as SaaS 2.0 Whitepaper from Frost & Sullivan.
 

It’s a “Wired” World – Devices to Create, Send and Receive Digital Media

The increasing volume of digital media is again fueled to the increasing number of devices available to create and consume digital media. The mobile wireless market for handheld devices is another market that has become a huge user of digitized media. Interestingly, Widen worked with a 3rd-party market research company in the first half of 2009 for an analysis of digital asset management programs and social media. One of the questions asked was “What consumer electronic devices do you own and use?”  Just for fun, here are the results…

Consumer Electronic Devices Owned and Used

Digital Camera, Laptop/Notebook Computer, Portable Media Device (iPod) and Cell Phone with Camera are the most common electronic devices owned and used (n=94).


Top Digital Asset Management Market Drivers according to ABI Research

  • Increase in the need to collaborate workflows across divisions in an enterprise
  • DAM systems no longer operate in a silo environment
  • Move to nonlinear digital workflows will drive demand
  • Improved operational efficiencies maximizes the ROI on a DAM system
  • Increase in bandwidth, fall in the storage cost will boost the demand of DAM
  • Continued effort in marketing initiatives will increase the demand for DAM
  • Creative professionals adopt DAM tools
  • New and emerging markets will drive the demand for DAM systems
  • Adoption of digital media technology enhances the growth of the market
  • Multiple channels of content delivery will increase the demand for DAM solutions
  • Content is king: Premium content, HD and video services will drive the growth

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