The market for digital asset management (DAM) is teeming with both small- and mid-sized players and their cash-rich counterparts. This not just makes the competitive landscape fragmented but also highly competitive. In order to surge ahead of their rivals in such a cutthroat environment, companies are devising various strategies. One such is the development of new solutions and products by upping spends on research and development. Another popular strategy with players in the market for digital assessment market (DAM) is forging of partnerships and alliances.
A research study by Transparency Market Research observes that some of the key players in the global digital asset management market are domiciled in North America. They are Microsoft Corporation, IBM Corporation, Dell EMC, Hewlett Packard Enterprise, and Oracle Corporation.
The report by TMR projects the market for digital asset management (DAM) to attain a value of US$6.33 bn in 2025 from US$1.73 bn in 2016. The market will rake in the value by registering a solid CAGR of 15.6% between 2017 and 2025.
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Depending upon the manner of deployment, the global market for digital asset management (DAM) can be divided into on-premise, enterprise, and cloud deployment models. Among the three, the enterprise deployment model accounted for a leading share in the market in 2016. In the foreseeable future, the segment will continue to hold a dominant position, albeit reducing its share owing to the surging popularity of cloud-based deployment.
Geographically, Europe and North America are major contributors to the global market for digital asset management (DAM). Together, they held slightly over half the share in the market in 2016. North America, powered primarily by Canada and the U.S., has emerged as one of the market leaders because of the increasing automation and adoption of cloud storage in the region.
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