ResearchandMarkets.com published its new report on the digital asset management (DAM) market, noting that it is set for nearly 17 percent CAGR over a 10-year period, hitting $26.3 billion by 2032. This growth is attributed to “exponential” increases in digital content, business globalization, an increase in remote work and the role DAM systems play in ensuring compliance, enhancing CX and providing a competitive edge.
In today’s digital age, the volume and diversity of digital assets, such as images, videos and documents, have grown exponentially due to increased online activities across industries, including marketing, entertainment and e-commerce.
In particular, DAM systems address needs to organize, store and manage assets, providing cataloguing, search and retrieval capabilities, streamlining workflows and fostering collaboration. DAM systems also, it was noted, help businesses ensure brand consistency, adhere to copyright regulations and enhance overall operational efficiency.
The globalization of business is a transformative force reshaping the way companies operate and engage with markets worldwide. As organizations expand their reach to international markets, they encounter challenges such as the effective management of digital assets across borders and diverse time zones.
DAM systems also promote seamless flow of digital content, providing a centralized and robust platform for storing, organizing and distributing digital assets. This centralization, ResearchandMarkets.com noted, is critical when dealing with international operations as it ensures that digital assets are easily accessible to teams and partners worldwide.
Additionally, the rise in remote work means that cloud-based DAM solutions have a heightened significance.
Because remote teams operate from various locations, this necessitates secure and convenient access to digital assets for seamless collaboration. DAM systems offer the flexibility and accessibility needed for modern work environments, ensuring that teams can work efficiently, regardless of their physical locations.
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