Are you looking to add Digital Asset Management to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Digital Asset Management statistics of 2024.
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Best Digital Asset Management Statistics
ā° Use “CTRL+F” to quickly find statistics. There are total 68 Digital Asset Management Statistics on this page šDigital Asset Management Benefits Statistics
- However, those who have a DAM platform in place are now spending 28% less time each week searching for assets, highlighting the benefits of having such a tool in place. [0]
- This can help achieve the following business benefits 34% increase in marketing productivityDue to streamlined review and approval processes, easier collaboration, and better visibility. [1]
Digital Asset Management Market Statistics
- Brandfolder and Demand Metric recently published the āState of Digital Asset Managementā report, and statistics showed that 51% of marketers waste money producing or recreating assets that go unused because people donāt know they exist or canāt find them. [0]
- About 40% of marketers claim that they do not have a single source of truth, and find it difficult to locate digital assets. [0]
- Content marketers who have integrated a DAM platform also spend 34% less time each week managing their assets. [0]
- The digital asset management market was valued at USD 2,962.2 million in 2020, and it is expected to reach USD 8,158.6 million by 2026, registering a CAGR of 18.46% during the period of 2021. [2]
- Among marketers and enterprises, the ability to manage and organize digital assets is among the biggest challenges, and about 55% of the respondents from a study conducted by Fotoware in October 2020 recognized the same thing. [2]
- In a 2019 survey compiled by Deloitte, the Duke Fuqua School of Business and the American Marketing Association, chief marketing officers reported that marketing decisions influenced by analytics increased 39%. [3]
- According to HubSpot’s 2021 State of Marketing Report, 26% of marketing budgets will be allocated to software over the next 12 months. [4]
- Further, 68% of marketers identified silos both across the teams and technologies as the top barrier to delivering a more integrated content strategy. [4]
- 58% Improve our use of consumer data/analytics 56% Improve omnichannel marketing capabilities 55% Improve quality of digital experiences 53% Improve personalization capabilities13. [4]
- The global Digital Asset Management market size is projected to grow from USD 4.2 billion in 2024 to USD 8.0 billion by 2027, at a Compound Annual Growth Rate of 13.6% during the forecast period. [5]
- The global DAM market size is expected to grow at a Compound Annual Growth Rate of 13.6% during the forecast period, to reach USD 8.0 billion by 2027 from USD 4.2 billion in 2024. [5]
- This can help achieve the following business benefits 34% increase in marketing productivityDue to streamlined review and approval processes, easier collaboration, and better visibility. [1]
- 75% reduction in marketing overheadContent updates can drain resources, consuming up to four team members. [1]
- 30% increase in conversionsSitecore enables marketers and content editors to personalize content based on campaigns, personas, interactions, and behavior natively, without complex integrations. [1]
- This forecaster sees inflation peaking and U.S. stocks in a bear market by summer Tesla posts record profit, Q1 sales jump 81% despite supply. [6]
- Using a DAM system helps marketers reduce time to market and could potentially increase high fives in your company by 500%. [7]
Digital Asset Management Software Statistics
- According to HubSpot’s 2021 State of Marketing Report, 26% of marketing budgets will be allocated to software over the next 12 months. [4]
- According to Forrester Analytics survey data, āmore than half of the global software decision makers whose firms prioritize digital experience have implemented, are implementing, or are in the process of expanding their DAM solutions.ā12. [4]
Digital Asset Management Latest Statistics
- In addition, 46% waste time downloading and uploading assets into different tools. [0]
- Asia Pacific Largest Market North America CAGR 18.46 % Market Overview. [2]
- The study also found that without strong metadata governance many, assets are hard to find and remain unused, according to 48% of the respondents. [2]
- According to a study of 130 organizations, by Veronis, 88% of companies do not limit access to their folders appropriately, thus, leaving room for anyone to access and download such files, which leads to data leaks, loss, and hacks. [2]
- According to a study by Bynder, about 78% of the respondents mentioned that they would stop engaging with brand online if that brand had experienced breach. [2]
- Japan is the ideal country in this region for digital asset management solutions, as 99.7% of industries fall under the small and medium enterprise segment, as reported by the Small and Medium Enterprise Agency of Japan. [2]
- Huobi Asset Management became the second fund manager to receive approval from the Securities and Futures Commission to issue 100% virtual asset funds. [2]
- The Digital Asset Management Market is growing at a CAGR of 18.46% over the next 5 years. [2]
- In fact, one study found that due to the impact the global pandemic has had on how we work, 40% of businesses are accelerating their move to the cloud. [3]
- Matching this pace, content creation is also anticipated to grow 26% over the same time.2. [4]
- 41% of businesses are currently going through a digital transformation, 39% already have, and 9% are preparing to in the next year?5 Organizations are optimizing their content operations to better serve their customers and teams. [4]
- Here are the top priorities among Widen customers 92% Organize content in one system for internal teams and external partners to find exactly what they need. [4]
- 60% Consolidate redundant content storage, file sharing, and collaboration tools into one system. [4]
- 59% Streamline proofing and approval workflows. [4]
- 58% Ensure brand consistency through alignment of content guidelines and standards.7. [4]
- Millennialsā wallets were stretched thin at the start of the pandemic, with 56% of them seeing debt grow during this time. [8]
- The share of global customers using fintech platforms for wealth management is expected to grow 7% from 2018 to 2024, while the share using commercial or retail banks will drop by 6% over the same period. [8]
- A massive 77% of USand Canadabased financial advisors reported losing business because they didnāt have the appropriate tools to interact with clients as the pandemic reduced in. [8]
- Eightyfive percent of business leaders across a range of wealth management firms reported that partnering with third party providers was important for their company in the next 12 to 18 months. [8]
- And assets under management of North American wealth managers is expected to increase to $73.3 trillion by 2025, up 26.4% from $58 trillion in 2020. [8]
- 80% of fortune 2000 companies rely on our research to identify new revenue sources. [5]
- As per the 2018 State of Digital Asset Management report by Acquia, 62% of the surveyed companies use cloudbased DAM in place of on premises DAM, which is among the top reasons for increased DAM implementation. [5]
- According to DayDream, where the overall average cost of a DAM solution was nearly USD 51,999 in 2018, a non hosted DAM solution costed nearly USD 71,746. [5]
- According to Transactional Records Access Clearinghouse 2016 report, the US alone had 4,000 copyright infringement cases in 2016. [5]
- if you have to rely on your vendor for template installation 100% of the time. [9]
- 66% reduction in content search timeCompanies who implement a digital asset management can improve asset findability and save up to two thirds of the time previously spent searching (SourceGuide to measuring ROI, 2019). [1]
- 47% increase in speed to create new assets. [1]
- A DAM can help brands reduce the time lag from asset inception to delivery and speed up the creation of new assets by 47%, improving productivity and operational efficiency. [1]
- 28% decrease in asset re creation costsBy eliminating duplicative efforts, reducing the number of assets created but never used, and improving asset reuse. [1]
- 80% reduction in brand asset creation costs. [1]
- Streamlined processes and enhanced approval workflow functionality empowers organizations to save thousands of manhours and reduce on brand asset creation costs by up to 80%. [1]
- 80% reduction in time spent on content updates and publishing requestsOrganizations generally suffer from long lead times, multiple handoffs, and forgotten requests, with content updates taking between 3 ā 5 days. [1]
- They were able to reduce their related IT costs by 50%. [1]
- 30% 40% reduction in content creation costsThrough the reuse of components, layouts, and templates across a variety of sites, organizations can save on content creation costs. [1]
- Sitecore customer,Co operators, an insurance firm in Canada, was able to reduce their content creation costs by 40% by reusing content across sites and leveraging custom controls, integrated backend systems, workflows, and page editors. [1]
- Sitecore customer,Ministry of Manpowerredesigned their content to help users get answers faster, decreasing average time on site by 21% and improving customer ratings by 20%. [1]
- Sitecore customer,Tohoku, was able to achieve a 400% increase in campaign cycle speed. [1]
- 20% reduction in cost to serveImproving the customer experience through digital channels can reduce customer service costs. [1]
- By implementing an easier, more seamless customer experience through their digital channels, they reduced call volumes by 20%. [1]
- 10% increase in selfserviceEffective and timely content can increase self service, as customers can find the information quickly and more easily. [1]
- It now acts as a self service resource, enabling the public to solve their needs online up to 70% faster. [1]
- Sitecore customer,Bupaexperienced a 10% reduction in call center volume. [1]
- Eurobankachieved 100% increase in user engagement, and a 20% decrease in bounce rate. [1]
- Universityincreased users by 6%, sessions by 12%, and page views by 8%. [1]
- Companies who invest in personalisation see an uplift in conversion by 10%ā30% and as much as 5% improvement in customer acquisition. [1]
- Management Occupations PRINTER FRIENDLY Employment in management occupations is projected to grow 9 percent from 2020 to 2030, about as fast as the average for all occupations, and will result in about 906,800 new jobs. [10]
- About 37 percent of respondents said they did not yet know whether they would use digital wealth management services in the future. [11]
- Available to download in PNG, PDF, XLS format 33% off until Jun 30th. [11]
I know you want to use Digital Asset Management Software, thus we made this list of best Digital Asset Management Software. We also wrote about how to learn Digital Asset Management Software and how to install Digital Asset Management Software. Recently we wrote how to uninstall Digital Asset Management Software for newbie users. Donāt forgot to check latest Digital Asset Management statistics of 2024.
Reference
- komarketing – https://komarketing.com/industry-news/report-digital-asset-management-remains-critical-to-content-marketing-success-4315/.
- sitecore – https://www.sitecore.com/knowledge-center/blog/2020/09/roi-of-content-management-20-stats-you-need-to-know.
- mordorintelligence – https://www.mordorintelligence.com/industry-reports/digital-asset-management-dam-market.
- forbes – https://www.forbes.com/sites/forbesbusinesscouncil/2020/07/22/a-look-into-the-future-of-digital-asset-management/.
- widen – https://www.widen.com/business-case-digital-asset-management.
- marketsandmarkets – https://www.marketsandmarkets.com/Market-Reports/digital-asset-management-market-96538567.html.
- marketwatch – https://www.marketwatch.com/press-release/digital-asset-management-market-growth-statistics-2024-cagr-status-geographical-representation-global-share-business-size-industry-top-manufacturers-analysis-demand-penetration-upcoming-trends-revenue-and-forecast-2029-2024-04-08.
- bynder – https://www.bynder.com/en/blog/digital-asset-management-fun-facts/.
- insiderintelligence – https://www.insiderintelligence.com/insights/wealth-management-ecosystem/.
- pica9 – https://www.pica9.com/blog/digital-asset-management-6-most-important-trends-for-2021.
- bls – https://www.bls.gov/ooh/management/home.htm.
- statista – https://www.statista.com/statistics/1296633/south-korea-intention-of-millionaires-to-use-digital-wealth-management-services/.
How Useful is Digital Asset Management
One of the key advantages of using DAM is that it provides a centralized platform for storing, organizing, and accessing digital assets. This means that users can easily locate and retrieve the assets they need without having to sift through endless folders and files. By tagging and categorizing assets, DAM systems make it simple to search for specific items and ensure that the right version is being used. This not only helps to improve productivity but also ensures consistency and accuracy in the assets being used.
Furthermore, DAM systems make it easy to collaborate and share assets within an organization or with external partners. Instead of sending large files back and forth via email, users can simply share a link to the asset stored in the DAM system. This enhances communication and streamlines workflows, leading to faster turnaround times and increased efficiency.
Another benefit of DAM is its ability to provide version control and security for digital assets. By tracking changes and revisions made to assets, users can be confident that they are always working with the most up-to-date version. Additionally, access controls and permissions can be set to restrict certain users from viewing or editing sensitive assets. This helps to protect the organization’s intellectual property and ensures compliance with data privacy regulations.
Additionally, DAM systems often include tools for asset optimization, such as image editing and file conversion capabilities. This allows users to customize and repurpose assets for different channels and devices, saving time and resources. By streamlining the asset management process, organizations can focus on creating high-quality content that resonates with their target audience.
Overall, the usefulness of DAM cannot be overstated in today’s digital age. As organizations continue to embrace digital transformation, the need for a robust and efficient system to manage digital assets will only increase. Beyond the benefits of centralization, collaboration, version control, and security, DAM systems also provide valuable insights into asset performance and usage through analytics and reporting features. This allows organizations to make data-driven decisions and optimize their digital strategy for maximum impact.
In conclusion, digital asset management is a valuable tool for modern businesses looking to streamline their workflows, enhance collaboration, improve productivity, and protect their valuable digital assets. By investing in a DAM system, organizations can ensure that their digital content is managed effectively and used strategically to achieve their business goals.
In Conclusion
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