The business world
has become competitive with Internet leveling the field for startups and major
corporations alike. Branded content is a buzzword which has garnered notice
with these companies in order to expand its online presence. But since the
Internet is a vast repository of free content, a system is needed to protect
the company’s data. Such a system which protects the content as well as
distributes it efficiently is a digital asset management (DAM) system.
This system engages
the audience by providing content in the form of articles and videos. It also
allows the easy transfer of files within the organization. It improves workflow
and boosts employee productivity in the process. DAM can make it possible for
companies to obtain an omnichannel presence across all platforms. This kind of
experience will include collaborations with third parties and associated brand
promotions.
Latest Developments
OpenText Corporation,
a Canadian provider of enterprise management solutions, recently updated its
Enterprise Information Management (EIM) platform. The recent update allows
regular consumers to manage their workflow with ease within the company. It
also allows the company to host their data on Cloud or within their office
premises.
The program within
this platform, “OpenText Experience Suite”, has a host of applications such as
“OpenText™ Media Management” and “OpenText™ Experience Analytics”. These
programs provide deep insight into customer behavior and latest market trends.
The company has even collaborated with SAP to create an omnichannel experience
for its consumers.
Market Overview
The worldwide digital asset management market is
expected to grow on account of DAM being used by organizations to improve their
branding, according to Grand View Research, Inc. It is expected to reach USD
5.6 billion by 2025. DAM is expected to pave new growth avenues for
organizations in order to expand their customer reach.
Cloud deployment is
expected to gain more market shares than on-premise deployment from 2014 to
2025 (forecast period). Even major corporations like Oracle have adopted Cloud
due to its drag-and-drop functionality to transfer files easily. Media &
entertainment was the biggest market end-user, accounting over 20% market
shares in 2015. Some prominent industry players are Oracle Corporation,
OpenText Corporation, and Adam Software NV.
In-Depth research report on digital asset management market:
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