Global Media Asset Management market growth 2024, Forecast To 2033
4 Mar, 2024
The media asset management market has witnessed exponential growth, projected to rise from $5.11 billion in 2023 to$6.17 billion in 2024 at a compound annual growth rate (CAGR) of 20.7%. This growth is fueled by the increased use of multimedia in marketing and the globalization of media production. Forecasts suggest continued exponential growth, with the market expected to reach $13.22 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%. Drivers include advanced search capabilities and the demand for personalized content delivery. Major trends include cloud-based solutions and enhanced metadata tagging.
Global Media Asset Management Market Key Driver
The growing digital advertising is driving the growth of the media asset management market. Digital advertising is the marketing that takes place on websites, streaming media, and other online platforms in text, image, audio, and video formats, which helps businesses with the marketing funnel, brand awareness, consumer engagement, and other business operations. Media asset management in digital advertising helps broadcast media archive, store video assets, and distribution large volumes of multimedia content. Additionally, media asset management provides digital advertising agencies with content security, sharing media files quickly and easily, creating metadata, and enabling asset retrieval. For instance, advertising revenue for media owners increased by +22% globally 2021 to an all-new high of $710 billion, according to MAGNA, a US-based media investment and intelligence company’s, forecast for the ad marketplace in 2021. Sales of digital advertising grew by $105 billion (+31%) to reach $442 billion, accounting for 62% of all advertising revenue globally. Therefore, such a rise in digital advertising will increase demand for media asset management. Market projections for 2024 and 2028 suggest significant expansion in the media asset management market.
Get A Free Sample Of The Global Media Asset Management Market ReportGlobal Media Asset Management Market Segments
The global media asset management market covered in this report is segmented –
1) By Deployment: On-Premise, Cloud (SaaS)
2) By Organization Size: SMEs (Small And Medium Enterprises), Large Enterprises
3) By End-User: Media And Entertainment, BFSI, Government, Healthcare, Retail, Manufacturing, Other End-Users
By Geography: The regions covered in the media asset management market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the media asset management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the media asset management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Media Asset Management Industry Players
Amazon.com Inc., Dalet SA, Imagen Ltd., Prime Focus Technologies Ltd., Sony Group Corporation, Microsoft Corporation, VSN Video Stream Networks SL, Bynder BV, Dell Inc., International Business Machines Corporation, SI-MEDIASrl, NEP Group, Oracle Corporation, Square Box Systems Ltd., Quantum Corporation, Dalet Digital Media Systems, Tedial SL, Adam Software Inc., Canto Inc., Celum GmbH, Cognizant Technology Solutions Corporation, OpenText Corporation, North Plains Systems Inc., QBank, Webdam Inc., MediaBeacon Inc., IBM Corporation, Widen Enterprises Inc., Adobe Inc., Hewlett Packard Enterprise, Aprimo Inc., Salsify Inc., Nuxeo SA, MediaValet Inc.
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Media Asset Management Market Overview
A media asset management (MAM) is a program used to store and manage high-volume video and multimedia files in an organization to form a media library to provide unified and centralized access to important files and saves time in asset retrieval.
Media Asset Management Global Market Report 2023 provides data on the global media asset management market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The media asset management market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.