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Media Asset Management Market Size, Share & COVID-19 Impact Analysis, By Deployment (Cloud, On-premise), By Enterprise Size (Small & Medium Size Enterprise, Large Enterprise), and Regional Forecast, 2022-2029

Region : Global | Format: PDF | Report ID: FBI106812

 

KEY MARKET INSIGHTS

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The global media asset management market size was valued at USD 1.37 billion in 2021. The market is projected to grow from USD 1.53 billion in 2022 to USD 3.81 billion by 2029, exhibiting a CAGR of 14.6% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with media asset management experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a higher growth of 10.8% in 2020 as compared to 2019.


In the scope, we have considered MAM provided by key players such as NEP Group, Inc., Etere, SI-Media Srl, Prime Focus Technologies, Tadial, and Sony Corporation, among others.


Media Asset Management (MAM) is the study of structured unstructured and databases to envision and offer insights that are based on hidden patterns, correlation, changing trends of the market, and more. For instance, in July 2019, Dalet acquired the Ooyala Flex Media Platform business. Along with this, this deal includes Ooyala personnel across sales, engineering, marketing, and professional support & services. With this acquisition, the company aims to significantly expand the market opportunities in terms of verticals along with their respective layers of complexity.


COVID-19 IMPACT


Digital Growth Amid COVID-19 to Augment Market Expansion


The spread of the global COVID-19 pandemic catalyzed an enormous amount of media assets as people were more engaged in online content consumption. With the world becoming more and more digitalized, there has been an enormous amount of rise in the content and media, which is either created or consumed. During the transition phase, online video streaming services, audio consumption, digital marketing, gaming, and social media use showcased a significant rise. They have been among the topmost trends of 2022 with an increasing number of companies investing more and more in digital marketing campaigns, brand management, PR, social media, audio and video streaming and advertising, where animations, images, and videos are the key to a winning strategy.


As per the industry reports, nearly 60% of the companies are planning to adopt media asset management or are already in the process of implementing the same. Media asset management has been playing a significant role in brand management and is emerging as the most sought-after solution to manage, store, and retrieve digital proprietary files for any organization. Nearly 70% of the decision makers in companies claim to have customer experience as the top most goal for digital transformation this year. Enterprises are increasingly relying on media asset management for better customer engagement to reach a wider customer base and understand consumer behavior.


Furthermore, media companies should focus more and more on integrating advanced technologies with their media asset management solutions to cope up with the rapidly changing behavior of consumer preferences. Consumers these days have several options to choose from as online content is created and distributed in numerous ways. Additionally, cost and operational efficiency should be the topmost priority among the industry players to provide enhanced and efficient solutions to consumers.


Following stats will depict the statistics of online video streaming services, audio consumption, digital marketing, gaming, and social media use during the transition period.


LATEST TRENDS


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Integration of Artificial Intelligence with Media Asset Management Solutions to Aid the Market Growth


With the way content consumption in the media & entertainment sector is constantly evolving, the sector is becoming more competitive and complex. It has been seeking ways to intelligently scale down the operation costs and maximize the outputs. Furthermore, the proliferation of the internet is leading to replace traditional media channels such as cable and radio with on-demand streaming platforms such as YouTube and Netflix. As a result, consumers, in terms of media consumption, have possibly limitless options to choose from.


Thus, industry players are facing the need to enhance the quality as well as the quantity of content they produce to attract consumers on a larger scale to drive higher value. To help fulfill this requirement, media companies are adopting advanced technologies such as artificial Intelligence. For instance, in May 2022, VidiNet, a cloud-based platform of media services from Vidispine portfolio of Arvato Systems’ is now made available with additional advanced features. The integration of AI into the software allows production and quality assurance of training data within a familiar MAM environment. In addition, it also allows users to recognize information in video or image files and create their own artificial intelligence models.


In early 2020, Adobe migrated its Experience Manager Services to the cloud in an attempt to offer secure and scalable content management across organizations, with an addition of Adobe Sensei, an AI tool that integrates Adobe Experience Cloud, auto tagging evolves into smart tagging, enabling users to create enhanced marketing experiences.


Above factors are considered some of the media asset management market trends.


DRIVING FACTORS


Increasing Demand for Cloud-based Asset Management to Boost Market Growth


With change in consumer behavior, the amount of media assets and speed of improvement are increasing significantly across companies. With such growth in media asset volume, companies are increasingly adopting cloud for the storage of their media assets.


This has led to the entrance of new cloud-based MAM solution providers and compelled traditional on-premises MAM solution providers to update their solutions for cloud platforms. Many MAM providers, including Sony Corporation, Hexaglobe, Imagen, Publitio, and Blue Lucy Media have started offering cloud-based MAM solutions. Various organizations have partnered with cloud platform providers such as AWS and Google.


Cloud-delivery options provide implementation, low-cost licenses, and maintenance when compared to on-premises. Owing to such cost benefits, most organizations are transforming toward cloud-based MAM solutions.


RESTRAINING FACTORS


High Costs of Integration and Implementation to Hinder Market Growth


MAM solutions offer multiple advantages that are cost related with initial implementation and license costs for managing media assets.


Although, with the rise in users per account and capacity of storage, the overall cost of MAM implementation and licenses is also increasing. Additionally, with the challenge over the pricing of support services, many SMEs are unreliable about implementing MAM solutions.


SEGMENTATION


By Deployment Analysis


Growing Adoption of Cloud-based Environment to Surge Media Asset Management Demand


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


Among these, the cloud segment captured the highest market share of around 73.2% in 2021 owing to increased cloud-hosted environment for storing, organizing, and managing assets. For instance, according to the O’reilly Survey of 2021, 88% of respondents were using cloud, 25% organizations planned to shift all their applications to cloud in the coming years.


As a result, cloud-based MAM is expected to gain traction post-outbreak of the pandemic. Hence, cloud-based MAM is expected to increase in the coming years due to the above factors.


By Enterprise Size Analysis


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Rising Awareness about MAM Solution in SMEs to Fuel Market Growth


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


Among these, the Small & Medium Enterprise (SME) segment is anticipated to grow at a CAGR of 15.7% during the forecast period. Owing to rising adoption of MAM solutions and services in small & medium size enterprises. SMEs are investing and launching products related to MAM which is also considered as one of the growth factors of MAM.


REGIONAL INSIGHTS


North America Media Asset Management Market Size, 2021 (USD Million)

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Geographically, the market is studied across North America, Europe, Asia Pacific, the Middle East & Africa, and South America.


North America is expected to achieve maximum revenue share during the forecast period. The rising demand from various industries in the North American region is anticipated to drive this market constantly. MAM is in the phase of revitalization currently in North America as there is an enormous rise in digital data from web, social media, and sensors due to evolving technologies that capture and process such data. Prominent players from the United States and Canada are identified as a significant potential to improve related products, services, and customer reach. Additionally, presence of major broadcasting and media companies in the region is expected to facilitate this market. These factors are expected to drive the market growth in the near future.


Asia Pacific is expected to witness a remarkable growth rate during the forecast period. Owing to the emergence of industry 4.0 that resulted in the rising adoption of automation is expected to fuel the market in Asia Pacific countries such as India, Japan, and among others. Moreover, progressive shift from the traditional way to the digital way is fueling the market in Asia Pacific.


The Europe market is expected to hold a prominent media asset management market share in the global market. Increased digitization across various countries, such as the U.K., Germany, Italy, France, and Benelux in the creation of massive digital content is fueling the market growth in Europe. Moreover, growing number of MAM providers has increased the awareness, availability of the software, and rise in the penetration of cloud-based solutions, owing to workflow collaboration and automation.


Similarly, the Middle East & Africa and South America also are growing at the fastest pace owing to start-ups in GCC and South American countries.


KEY INDUSTRY PLAYERS


Strategic Acquisitions by Key Players to Boost Market Expansion


The key players are offering MAM across all business segments. Major market players extend the scope to create novel solutions, upgrade their tools and technology, and strengthen their technology capabilities.


Also, through collaborations, companies are achieving expertise and increasing their business by reaching a mass customer base. The key players focus on customer reach and market share expansion through strategic acquisition.


March 2022: Amazon acquired Metro-Goldwyn-Mayer, which constitutes to be the company’s second-largest acquisition after grocer Whole Foods. With this acquisition, Amazon Prime expands its catalog with around more than 4,000 movies, 17,000 series, and television programs.


January 2021: Pimco and State Street asset managers announced collaboration with Microsoft to develop a cloud-based operating platform to transform asset manager’s operations technology.


January 2021: Quantum acquired Square Box Systems Ltd, a company that specializes in user collaboration, data cataloging, and DAM solution. With this acquisition, the company aims to strengthen its ability to provide software solutions that enable companies to unlock the business value packed in their data both on-premises and in the cloud environment.


List of the Key Companies Profiled:



KEY INDUSTRY DEVELOPMENTS:



  • June 2022 – Imagen announced an integrated partnership with Greenfly, a cloud-based digital media software platform. This collaboration will strengthen their automated collection, distributed, and storage sharing of digital media for global sports and entertainment organizations. 

  • May 2022 –  VidiNet, a cloud-based media services platform of Arvato Systems’ Vidispine product portfolio now integrates artificial intelligence into media asset management. This Deep VA’s AI software integration into the system enriches existing video and image material with metadata, which simplifies and accelerates the documentation and search of media assets.

  • April 2022 – Multirio enhanced its playout facilities with Etere ETX, Channel-in-a-Box at its Rio de Janeiro facility. This project aims to extend the decade-long partnership of Etere and Multirio.

  • April 2022 – Tedial announced SmartWork, a media integration platform designed natively with kubernetes and microservices to provide future proofing and scalability for both media operations and resources. With this, the company aims to simplify broadcast workflows and allow media companies to be more self-sufficient. It allows users to develop processes and integrations with a drag and drop, no code editor interface, removing the traditional tiers that allow enhanced collaboration.

  • August 2021 – NEP Group acquired Lux Machina, Prysm Collective and Halon Entertainment. With this acquisition, the company launched a new virtual production business segment called NEP Virtual Studios.


REPORT COVERAGE


An Infographic Representation of Media Asset Management Market

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The research report includes prominent areas across the globe to get a better knowledge of the industry. Furthermore, it provides insights into the most recent industry and key market trends as well as an analysis of technologies that are being adopted quickly on a global scale. It also emphasizes some of the growth-stimulating restrictions and elements, allowing the reader to obtain a thorough understanding of the industry.


REPORT SCOPE & SEGMENTATION


















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD million)



Segmentation



By Deployment, Enterprise Size, and Region



By Deployment




  • Cloud

  • On-premise



By Enterprise Size




  • Small & Medium Size Enterprise

  • Large Enterprise



By Region




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

    • U.S.

    • Canada

    • Mexico



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

    • Brazil

    • Argentina

    • Rest of South America



  • Europe (By Deployment, By Enterprise Size, and By Country)

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Benelux

    • Nordics

    • Rest of Europe



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

    • Turkey

    • Israel

    • GCC

    • North Africa

    • South Africa

    • Rest of the Middle East & Africa





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


    • China

    • India

    • Japan

    • South Korea

    • ASEAN

    • Oceania

    • Rest of Asia Pacific




Frequently Asked Questions

The market is projected to reach USD 3.81 billion by 2029.

In 2021, the market stood at USD 1.37 billion.

The market is projected to grow at a CAGR of 14.6% in the forecast period (2022-2029).

Cloud-based MAM is likely to lead the market.

Microsoft Corporation, Amazon.com, Inc., Sony Group Corporation, Etere, Vizrt Group, and NEP Group, Inc. are the top players in the market.

North America is expected to hold the highest market share.

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

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