The global digital asset management software in retail market is estimated to expand at a substantial CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the rapid advancement of technology and high digital media proliferation coupled with increasing use of mobile phones and emergence of cloud computing.
Digital asset management (DAM) software makes it easier to store, retrieve, and reuse digital assets that are essential to a company. The software is widely adopted for enhancing the retail service by providing benefits such as easy access to processed data files, improving the handling of web pages, safety storage of text documents, photos, and audio files. Owing to its excellent properties including easy storage platform, the software is widely used in various applications to improve overall retail service such as retrieving inventory list and effective delivery network.
One key aspect of the software is that it helps to manage several activities such as discounting offer, products advertising and promotion, and inventory storage, which are applicable for both offline as well as online retail businesses. Strict government regulation to ensure operational accountability and other advantages such as big data management, cost reduction, and improved digitization content are key factors that push the market expansion.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for asset management solution for the retail sector is expected to boost market growth during the forecast period.
- Rapid expansion of the retail industry and increasing expansion of online retail services reaching every corner of the globe are expected to fuel the market growth during the forecast period.
- Consumers’ preference for shopping from retail stores especially the compartmental stores due to wide availability of a variety of items and products is boosting the demand for the software from the retail service providers. This is anticipated to grow the market.
- Lack of skill operators, increased requirement of large file size for content storage, lack of approval and routing process are some of the key restraining factors that can hamper the market growth during the forecast period.
- Technological advancement that helps in developing innovative digital software for effective asset management system is offering key opportunity for the market growth in the coming years.
Scope of the Report
The report on the global digital asset management software in retail market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Digital Asset Management Software in Retail Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Applications (Content Infrastructure, Processing Complex Media Assets, and Edge Network Delivery)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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North Plains, Extensis, Open Text, Canto Software Inc, Adam Software, and MediaBeacon
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Digital Asset Management Software in Retail Market Insight
Processing complex media assets segment is projected to hold a key share
On the basis of applications, the global digital asset management software in retail market is divided into content infrastructure, processing complex media assets, and edge network delivery. The processing complex media assets is projected to hold a key share of the market during the forecast period owing to wide adoption of the software for the management of web contents that include the list of asset or inventory of retail companies.
Asia Pacific is a fast-growing market
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is a fast-growing market and is anticipated to exhibit a substantial CAGR during the forecast period owing to rapid growth of the retail services and the presence of a large consumer base for online shopping in the region. Rising establishment of number of e-commerce platforms and offline retail stores in the region is influenced by industrialization and urbanization. This acts as a key driving factor for the regional market growth.
Segments
The global digital asset management software in retail market has been segmented on the basis of
Applications
- Content Infrastructure
- Processing Complex Media Assets
- Edge Network Delivery
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Competitive Landscape
Some of the major players competing in the global digital asset management software in retail market are North Plains, Extensis, Open Text, Canto Software Inc., Adam Software, and MediaBeacon. These major companies are actively engaged in various market strategies including mergers, product launches, and expansion of production units to diversify their business operation and increase their existing consumer base.
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