According to the latest report by IMARC Group, titled "India Digital Asset Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India digital asset management market is expected to exhibit a CAGR of 20.53% during 2022-2027. Digital asset management refers to an online platform that is generally used by multiple businesses for organizing digital content. It enables organizations to create a centralized and secured location for storing routinely created and shared digital files, such as music, documents, videos and photos. It provides employees, peers, key stakeholders, contractors and clients easy access and control to the digital content library of the business. As a result, it enables firms to search and reuse digital assets, thereby resulting in reduced production costs, enhanced transparency within the organization, improved customer experience, and automated workflows while streamlining business processes. Since digital asset management also offers various project workforce management tools and add-on modules, such as brand guidelines, to drive the effectiveness across the digital content lifecycle, this is providing a boost to their demand.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Digital Asset Management Market Trends:
The market in India is primarily driven by rapid digitization across the corporate sector and the penetration of high-speed internet connectivity. This has encouraged multiple businesses to heavily invest in the deployment of digital asset management platforms, which is favorably impacting the market. Along with this, the rapid outbreak of coronavirus disease (COVID-19) has led to the growing demand for these management platforms due to the widespread adoption of remote working models, which is further contributing to the market. Additionally, continual technological advancements and the integration of analytics to provide a comprehensive overview of digital assets to marketers and assist them in maximizing the return on investment (ROI) are creating a positive outlook for the market. Other factors, including intensive business competition and continuous improvements in the information technology (IT) infrastructure, are also positively influencing the market growth across India.
- On the basis of the type, the market has been segmented into brand, library and production asset management systems.
- Based on the component, the market has been segregated into solutions and services (consulting, system integration, and support and maintenance).
- On the basis of the application, the market has been classified into sales and marketing, broadcast and publishing, and others.
- Based on the deployment, the market has been bifurcated into on-premises and cloud.
- On the basis of the organization size, the market has been categorized into small and medium-sized, and large enterprises.
- Based on the end-use sector, the market has been segmented into media and entertainment, banking, financial services and insurance (BFSI), retail, manufacturing, healthcare and life sciences, education, travel and tourism and others.
- On the basis of the region, the market has been divided into North India, West and Central India, East India and South India.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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