ReportsnReports.com adds Global Cloud Based Digital Asset Management Market 2016-2020 latest research report, the analysts forecast global cloud-based DAM market to grow at a CAGR of 20.9% during the period 2016-2020. DAM solutions now use analytical tools to manage digital assets in organizations. Digital content can be analyzed using analytical tools for key business decision-making process. Analytical solutions such as cloud-based content analytics and asset tracking solutions help organizations to manage large sets of data captured from mobile applications and smart connected devices.
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According to the cloud based digital asset management market report, the increased use of mobile devices and software has helped organizations to create rich content. Organizations now rely on digital media for most of their functions. They are increasingly adopting office document solutions to generate rich media and create more compelling content. This is driving organizations to shift from static to dynamic documents.
Application-based segmentation of the cloud-based DAM market
The SaaS application segment dominated this market during 2015 and is envisaged to grow profoundly at an impressive CAGR of over 22% by 2020. SaaS is a software that can be accessed through a web browser or program interface and is deployed over the Internet. Since SaaS solutions waive initial software or hardware costs and facilitate the rapid deployment of DAM systems, they are increasingly gaining prominence among the end users.
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The Americas was the largest market for cloud-based DAM solutions during 2015 as it accounted for a market share of approximately 51%. Much of this growth can be attributed to the wide-scale popularity of cloud-based solutions among end users in the financial sector. Since these solutions help enterprises to manage their digital asset through cost-effective IT solutions, they are increasingly being preferred for the management of enterprise applications and rich digital-media content.
The global cloud-based DAM market is fragmented and is witnessing an increase in M&A activities within the digital content space. The multiplicity of vendors with differentiated products has increased the level of competition in this market, and has also compelled vendors to innovate continuously to establish themselves in the market.
Key players in the Global Cloud-based Digital Asset Management Market: Adobe, Cognizant, EMC, HP, and IBM.
Other Prominent Vendors in the market are: ADAM Software, Amazon, Canto, Filecamp, Google, MediaBeacon, Microsoft, North Plains, OpenText, and Widen.
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