Digital Asset Management Market By End User, By Region, Industry Analysis and Forecast, 2033

Posted by Ashish on February 8th, 2023

The global market for digital asset management is projected to grow quickly at a CAGR of 10.3% over the forecast period, growing from a valuation of US$ 4.3 billion in 2022 to US$ 11.4 billion by 2032.

The industry for digital asset management is expected to grow as a result of increased digitalization of content, the need for efficient corporate asset collaboration, the introduction of cloud-based delivery options, and the rising demand for greater protection and restricted access to digital assets to avoid copyright issues.

Furthermore, the rising demand for data integrity and the growing trend of integrating encryption technologies with digital solutions to facilitate safe digital commerce are projected to provide sufficient prospects for a rise in the sales of digital asset management.

Digital asset management adoption has been boosted by the growing demand for collaborative digital workflow, particularly for marketing and sales activities. The increased need for digital asset protection to avoid copyright concerns is driving the demand for digital asset management systems.

The demand for bettering digital assets while lowering operational expenses is projected to propel the digital asset management market size forward.

Although digital asset management solutions have numerous advantages, the initial deployment and lifetime license expenses for managing digital assets should not be overlooked. Although the overall cost of a digital asset management license and implementation rises as the number of users per account and storage capacity grows.

Furthermore, many SMEs are hesitant to use digital asset management systems due to the uncertainty around support service costs, digital asset management limits, and other minor capabilities.

As per the recent digital asset management market study by Persistence Market Research, while selecting digital asset management solutions, businesses search for AI and machine learning capabilities. Companies can use AI-based digital asset management solutions to automate image tagging, which is the process of assigning keywords or information to digital assets, including files, images, text, and videos, based on what they contain.

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