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Digital Asset Management (DAM) Market Size, Share & Industry Analysis, By Asset Type (Document/Presentations and Multimedia Assets), By Deployment (Cloud and On Premise), By Enterprise Size (Small & Medium Enterprise and Large Enterprise), By Industry (Media & Entertainment, Healthcare, E-Commerce & Retail, Travel & Hospitality, and Others), and Regional Forecast, 2024-2032

Last Updated: June 24, 2024 | Format: PDF | Report ID: FBI104914



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The global digital asset management (DAM) market was valued at USD 3.96 billion in 2023. The market is projected to be worth USD 4.59 billion in 2024 and reach USD 16.18 billion by 2032, exhibiting a CAGR of 17.0% during the forecast period (2024-2032). A Digital Asset Management (DAM) solution provides an efficient and organized approach to efficiently store, manage, organize, retrieve, and distribute the companys’ digital assets. DAM functionality enables several businesses to create a centralized place to access their media assets. In our scope, we have studied digital assets, including documents, images, audio, content, video, media files, animations, graphics, presentations, and other digital content. The DAM solution enables marketing and sales organizations to streamline asset management and optimize rich media production by creating a unified management system for digital assets. Companies are incorporating artificial intelligence in DAM solutions to automate metadata tagging and describing assets. The technologies used in DAM include Machine Learning (ML), Natural Language Processing (NLP), and computer vision.

The pandemic positively impacted the digital asset management market owing to the rapid acceleration of digitalization across the globe. It leveraged work-from-home policies bolstering high demands for cloud-based DAM solutions.

Moreover, audio consumption, gaming, online video streaming services, digital marketing, and social media substantially rose during the transition phase. These have been among the top trends during the pandemic, with more companies investing in digital marketing campaigns, PR, advertising, social media, brand management, and audio and video streaming, where images, animations, and videos are the key to a winning strategy. Thus, the market is expected to grow with a healthy growth rate in the coming years.

Digital Asset Management (DAM) Market Trends

Integration of Artificial Intelligence and Machine Learning Capabilities in DAM Solutions to Bolster the Market Growth

AI-embedded DAM solutions facilitate a competitive advantage for companies. It helps intelligently tag and cross-reference assets, including video and voice recognition. Using machine learning, DAM systems aid in forecasting content needs and making helpful recommendations. With these marketing tasks being performed easily, companies can make real-time analysis to gain a competitive advantage. Industry players are enhancing the quality of content management they produce by adopting such advanced technologies to attract consumers on a larger scale to drive higher value. For instance,

For instance, in May 2023, Acquia made developments in its digital asset management platform, Acquia DAM. It includes an Artificial Intelligence (AI) chatbot to support heavy workflows. The AI Assistant is incorporated into the comments functionality of Workflow.

Besides, the current wave of generative AI makes major advancements in DAM systems by enabling easy connectivity with external tools. These tools also quickly adapt to different software architectures, allowing a seamless integration between DAM systems and other platforms. These capabilities enabled by AI are crucial for companies’ seamless operation in today’s digital front. There are several market players already providing genAI solutions, such as Wedia with image generation and Canto with natural language search.

Thus, the integration of emerging technologies, such as artificial intelligence and machine learning capabilities in DAM solutions propels the digital asset management market growth.

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Digital Asset Management (DAM) Market Growth Factors

Rising Demand for Cloud-based DAM Solutions to Bolster Market Growth

With the behavioral shift of consumers toward digitalization, the number of digital assets has been growing enormously. With such growth of assets, companies are rapidly adopting cloud-based DAM solutions to store their assets.

Cloud-based digital asset management systems improve efficiency and securely store all cloud assets. They offer enterprise-level teams the ability to share files both internally and externally from anywhere and provide actionable analytics on the performance of assets. A cloud-based DAM system offers benefits to users, including scalable storage, improved asset organization, smart search, and discovery features, and improved collaboration and security. Key players in the market are implementing corporate strategies, such as mergers, collaborations, and acquisitions, to enhance and integrate the cloud into their DAM solutions. For instance,

  • In September 2022, Future Technologies partnered with Sitetracker to facilitate Digital Asset Management as a Service to private networks (Fiber, Private 4G/5G, Fixed Wireless, IoT, Edge Computing).

Thus, enterprises transition to cloud DAM solutions to propel market growth.


High Integration and Implementation Costs to Hinder the Market Growth

DAM solutions are advantageous to enterprises in many ways. However, costs related to initial implementation and licensing cannot be ignored. The prices of DAM solutions vary with plans, enterprise-level, and deployment models. Moreover, factors such as users per account, storage capacity, integrations, and others increase the overall cost of DAM solutions. Due to this, small and mid-sized businesses face challenges and are skeptical about implementing such solutions. Thus, the high pricing of support services and upfront costs restrain the digital asset management industry.

Digital Asset Management (DAM) Market Segmentation Analysis

By Asset Type Analysis

Growing Online Streaming and Gaming Amid the Pandemic to Boost the Segmental Growth

By asset type, the market is segmented into document/presentations and multimedia assets. Under multimedia assets, we have considered audio, video, images, animation, and other multimedia assets.

The multimedia assets segment captured the highest market share in 2023 and is expected to continue its dominance in the market during the forecast period. The primary factor propelling the market growth is the rising digitalization of content, including pictures, videos, graphics, movies. Also, with increased online streaming and gaming during the pandemic, the demand for digital asset management solutions to store and manage multimedia assets has risen.

By Deployment Analysis

Adoption of Cloud-based Environment to Surge Digital Asset Management Demand

Based on deployment, the market is segmented into cloud and on-premise.

Among these, the cloud segment held the highest market share in 2023, owing to its growing popularity among enterprises. Cloud-based DAM solutions offer a cloud-hosted environment for organizing, storing, and managing digital assets. For instance, as per the O’reilly Survey of 2021, 88% of respondents used the cloud, and around 25% of the enterprises planned to integrate the cloud in their applications.

As a result, cloud-based DAM is expected to gain traction and grow with the highest CAGR in the forecast period.

By Enterprise Size Analysis

Rising Awareness & Growing Applications of DAM among SMEs to Propel the Market Growth

Based on enterprise size, the market is categorized into small & medium enterprise and large enterprise.

The large enterprise segment holds the highest market share owing to capital and infrastructural advantages of the big players.

However, the small & medium enterprise segment is expected to grow with a highest CAGR over the forecast period. The cloud deployment of DAM solutions aids these businesses in gaining a competitive advantage in this market.

By Industry Analysis

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Rapid Pace of Media Content Creation and Growing Demand for Online Streaming to Increase Demand for DAM Solutions

Based on industry, the market is segmented into media & entertainment, healthcare, e-commerce & retail, travel & hospitality, and others.

The media & entertainment holds the largest share in the market owing to the rising number of digital assets in the sector. With the breakout of the pandemic, the world has witnessed growing demand for online streaming, gaming, music, and entertainment activities. Such activities have generated large amounts of multimedia assets, thus increasing the demand for DAM solutions.

However, e-commerce & retail is expected to grow with the highest CAGR in the forecast period. The market is driven by the rapid rise of online marketplaces such as Alibaba and Amazon. For instance, in July 2022, Aditya Birla Fashion and Retail Limited partnered with Adobe Experience Cloud to streamline the scattered digital assets and turn them into a structured system. Thus, the rising e-commerce activity is expected to drive the market growth.


Geographically, the market is studied across five key regions, such as North America, South America, Europe, the Middle East & Africa, and Asia Pacific. They are further categorized into countries.

North America Digital Asset Management Market Size, 2023 (USD Billion)

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North America holds the largest digital asset management market share, due to the rise in digital data across the region. According to a study conducted by DE-CIX Internet Exchanges, North American data traffic was reported to be around 6.4 exabytes in 2023. Moreover, increases in smartphone adoption, internet usage, and connected devices are accelerating the need for DAM solutions. Companies are incorporating evolving and advanced technologies to capture and process such digital assets. Moreover, the growing demand for digital content and media and the acceleration of advanced technologies, such as Artificial Intelligence (AI), machine learning, Big Data, and others, in emerging sectors, are expected to surge the demand for DAM in North America. Additionally, the presence of major broadcasting and media companies in the region is expected to fuel market growth.

Europe is witnessing rapid growth in this market. This is driven by rapid economic growth, urbanization, digitization, and automation activities across many industries. Also, the increasing adoption of DAM solutions in SMEs and rising online shopping activities are some of the factors that drive the European market.

Asia Pacific is expected to grow with the highest CAGR owing to the growing reliance on smartphones and rising penetration of high-speed internet connectivity. Many startups and SMEs have adopted cloud-based solutions to offer consumers cost-effective DAM solutions. Apart from this, the increasing e-commerce activities and digital shift in consumer behavior drive the market.

The Middle East & Africa and South America markets are expected to show highest market growth, owing to rising funds and government initiatives in the regions. For instance, according to the International Finance Corporation analysis 2022, Sub-Saharan Africa has USD 130 billion investment opportunity in digital skilling through 2030.

List of Key Companies in Digital Asset Management (DAM) Market

Strategic Acquisitions & Expansions by Key Players to Boost Market Expansion

The key players are offering DAM solutions across all business segments to different industries. Major market players are focused on creating new innovations and solutions that cater to customers' tailored requirements. Also, through collaborations, organizations achieve expertise and increase their client base.

  • June 2022 – Wedia, a DAM SaaS provider, expanded its business into the Canada market with a new office in Toronto, Canada.

  • March 2022: Metro-Goldwyn-Mayer was acquired by Amazon to expand its online retailer’s streaming service. The acquisition enabled Amazon Prime to add more than 17,000 series, 4,000 movies, and television programs to its catalog.

List of Key Companies Profiled:


  • February 2024 – Zoniqx (Tassets) completed its partnership with Ripple, which specializes in cryptocurrency and blockchain technologies. With this, the company intends to use the acquired company’s XRP Ledger (XRPL) expertise to make tokenization more enhanced and liquid within the digital asset ecosystem.

  • November 2023 – A part of 3iQ Corp, 3iQ Digital Assets based in the U.S., introduced a complete package of crypto hedge fund managed accounts via the 3iQ Managed Account Platform (QMAP). The new platform is supposed to be launched using the USD 50 million investments from the company’s dedicated investors.

  • April 2023 – Image Relay launched Marketing Delivery to eliminate the chaos of managing digital assets. The cloud-based solution combines Product Information Management (PIM) and Digital Asset Management capabilities to enable organizations to organize digital assets accurately.

  • September 2022 – Tenovos (DAM platform) partnered with MACH Alliance (a group of independent tech companies) to strengthen the integrated approach to DAM for enterprises. This approach empowers enterprise brands to select a technology that facilitates information and data to pass seamlessly.

  • July 2022 – Acquia and Widen developed new technology integrations for the product information management (Acquia PIM) solution and digital asset management (Acquia DAM), enabling customers to offer an automatic content supply chain.

  • June 2022 – Imagen partnered with a cloud-based digital media software platform, Greenfly. The collaboration strengthened their distributed and automated collection and storage sharing of digital assets for the global entertainment and sports industry. 


An Infographic Representation of Digital Asset Management (DAM) Market

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Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate 

CAGR of 17.0% from 2024 to 2032


Value (USD billion)


By Asset Type

  • Documents/Presentations

  • Multimedia Assets (Audio, Video, Images, Animation)

By Deployment

  • Cloud

  • On Premise

By Enterprise Size

  • Small & Medium Enterprise

  • Large Enterprise

By Industry

  • Media & Entertainment

  • Healthcare

  • E-Commerce & Retail

  • Travel & Hospitality

  • Others (Education, Manufacturing, Real Estate)

By Region

  • North America (By Asset Type, By Deployment, By Enterprise Size, By Industry, and By Country)

    • U.S.

    • Canada

    • Mexico

  • Europe (By Asset Type, By Deployment, By Enterprise Size, By Industry, and By Country)

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Benelux

    • Nordics

    • Rest of Europe

  • Asia Pacific (By Asset Type, By Deployment, By Enterprise Size, By Industry, and By Country)

    • China

    • India

    • Japan

    • South Korea

    • ASEAN

    • Oceania

    • Rest of Asia Pacific

  • Middle East & Africa (By Asset Type, By Deployment, By Enterprise Size, By Industry, and By Country)

    • Turkey

    • Israel

    • GCC

    • North Africa

    • South Africa

    • Rest of Middle East & Africa

  • South America (By Asset Type, By Deployment, By Enterprise Size, By Industry, and By Country)

    • Brazil

    • Argentina

    • Rest of South America

Frequently Asked Questions

The market is projected to reach USD 16.18 billion by 2032.

In 2023, the market size stood at USD 3.96 billion.

The market is projected to record a CAGR of 17.0% during the forecast period of 2024-2032.

Media & entertainment is likely to lead the market.

The rising demand for cloud-based DAM solutions is likely to drive market growth.

Adobe, Canto Inc., Bynder, Cognizant Technology Solutions, OpenText Corporation, Widen, Oracle Corporation, Celum, Cloudinary, and IBM Corporation are the top players in the market.

North America held the largest market share in 2023.

Asia Pacific is expected to record the highest CAGR during the forecast period.

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