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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How much of an impact will Digital Asset Management have on your day-to-day? or the day-to-day of your business? Should you invest in Digital Asset Management? We will answer all your Digital Asset Management related questions here.
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On this page, you’ll learn about the following:
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
Digital Asset Management is the process of organizing, storing, and retrieving digital assets in a centralized system. It allows businesses to store all their digital files in one location, making it easier for teams to access the content they need quickly and efficiently. DAM systems typically come equipped with advanced search capabilities, metadata tagging, and version control features, enabling users to locate and work with assets more effectively.
One of the key benefits of Digital Asset Management is improved workflow efficiency. By having all digital assets stored in a central repository, teams no longer have to search through multiple folders, emails, or physical drives to find the files they need. This not only saves time but also reduces the risk of misplacing or losing valuable assets. Additionally, DAM systems often come with automated workflows and approval processes, streamlining content creation and distribution processes.
Another advantage of Digital Asset Management is brand consistency. With all digital assets stored in a centralized location, teams can easily access approved logos, images, and other brand assets, ensuring consistency across all marketing materials and communication channels. By providing a single source of truth for brand assets, DAM systems help businesses maintain a cohesive and unified brand image.
Furthermore, Digital Asset Management enhances collaboration and communication among teams. With real-time access to the most up-to-date assets, team members can work together more effectively, regardless of their physical location. DAM systems also provide the ability to share assets with external partners or clients securely, ensuring that only authorized users have access to sensitive information.
Security is another critical aspect of DAM systems. Digital assets are valuable intellectual property that must be protected from theft, misuse, or unauthorized access. DAM systems usually come with robust security features such as role-based access controls, encryption, and audit trails to safeguard sensitive data and prevent unauthorized access.
Lastly, Digital Asset Management aids in content repurposing and scaling initiatives. By having a single repository of assets, businesses can easily repurpose existing content for various marketing campaigns, social media postings, or other promotional materials. This not only saves time and resources but also ensures that content remains relevant and consistent across different platforms and channels.
In conclusion, Digital Asset Management is an invaluable tool for businesses looking to streamline their content creation, distribution, and management processes. By providing a centralized repository for all digital assets, DAM systems improve workflow efficiency, enhance brand consistency, foster collaboration, ensure security, and facilitate content repurposing initiatives. With the ever-increasing volume of digital assets being created and used, investing in a robust DAM solution is essential for businesses looking to stay competitive in the digital age.
In Conclusion
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