25% of the total market is dominated by North America in 2015. This can be related to the continuous growth in social media in this region. DAM’s adoption has increased due to the generation of huge amount of content which also helps in reaching out to larger group in smaller times. Demand for the analytics is forecasted to get a stable platform in North America. The emphasis on DAM solutions and analytics to provide customer with customized tools is the reason for this movement which actually stiffens market competition.
Along with North America, Asia Pacific is also expected to witness faster growth almost at the CAGR of 12%. Due to rise in adoption of cloud technology and digital technology the sector offers larger opportunities for growth among small and medium organizations.
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Competitive Insights
Adobe Systems, Oracle, ADAM, OpenText, EMC, IBM, Widen, North Plains and Cognizant are the major industry participants. OpenText is the major player in this market and has been adopting various strategies to satisfy demands related to DAM, including product developments and partnerships. The company launched a product for integrated solutions in September 2015 with SAP to provide single channel experience to the customers.
In January 2015, OpenText introduced the next level of DAM to help organizations with managing, storing and securing assets in improved way. Other companies are alliance based firms that are trying to gain a competitive advantage.
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