After a few tough years of slow growth in 2001 and 2002, the digital asset management (DAM) market is experiencing a high level of growth as vendors consolidate to provide clients with multi-purpose software suites to organize, archive, index, display, transport, and retrieve the increasing amount of digital data.
Furthermore, DAM is expanding its sales – concentrated until recently in the entertainment industry – to include the corporate, government, and education sectors.
New analysis from Frost & Sullivan, (it.frost.com), World Digital Asset Management: Investment Analysis and Growth Opportunities, reveals that revenues in this industry totaled $377 million in 2004 and are estimated to reach $748.5 million in 2007.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants an overview of the latest analysis of the World Digital Asset Management: Investment Analysis and Growth Opportunities, please send an e-mail to Mireya Castilla, Corporate Communications, at mireya.castilla[.]frost.com with your full name, company name, title, telephone number, fax number, city, state, country and e-mail address. Upon receipt of the above information, an overview will be sent to you by e-mail.
Enterprises, including global 2000 companies, are beginning to understand the cost effectiveness of reusing and repurposing existing assets with DAM software. The benefits of such a move are unique as they pertain to all aspects of the value chain, including logging, asset management, and delivery of data.
“Fear of lost or misplaced work motivates companies to resort to the centralization of their assets with DAM,” points out Frost & Sullivan Financial Analyst Jim Regan. “Businesses are also utilizing the technology to manage corporate and marketing communication training.”
Enhancements in network security, improvements in bandwidth and file compression, along with the creation of open architecture software, where DAM can fully integrate with other solutions, will propel sales in the future.
“Additional spending on DAM solutions is likely as broadcasters comply with the Federal Communications Commission’s (FCC) mandate to digitize signals,” says Regan. “This trend will peak in 2006-2007.”
Additionally, considering the rise in the transfer of digital information over cellular networks, the mobile wireless handheld device sector is a potential growth segment for DAM manufacturers.
The DAM software market is continually evolving with the advancements of communication and mobile technology.
In 2004, the United States led the DAM market by a substantial margin, primarily because most DAM vendors are U.S.-based. In addition, the client base for DAM products is largely comprised of U.S.-owned multinational businesses.
“One of the reasons that DAM manufacturers are finding it difficult to penetrate the markets in Asia is the lack of adequate infrastructure for the proper deployment of DAM solutions in the region,” says Regan. “Meanwhile, Europe has shown faster growth than expected with broadcasters and mobile operators continuing to move toward digitization.”
DAM technology has also evolved with new research. Enhancements including geo-spatial recognition, logo recognition, automated summarization, as well as voice recognition capabilities expanded to include other languages such as Chinese, Japanese, and Korean, are opening up further possibilities for the DAM market.
World Digital Asset Management: Investment Analysis and Growth Opportunities is part of the Financial Benchmarking & Analysis in the Communication Software Industry, and provides an overview of the various segments in the market, including logger, core, and delivery software. Executive summaries and analyst interviews are available to the press.
Frost & Sullivan's Business and Financial Services group serves clients around the world in all aspects of financial analysis, market research, and monitoring, due diligence, idea generation, opportunity analysis, investment valuation, and other proprietary research.
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World Digital Asset Management: Investment Analysis and Growth Opportunities
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Keywords in this release: digital asset management, DAM, digital, data, logger, core, delivery, Federal Communications Commission, FCC, entertainment, corporate, businesses, government, education, healthcare, digital imaging and communications in medicine, DICOM-3, mobile, communication, research, information, market, trends, technology, service, forecast, market share.