Global Media Asset Management Solutions Market

Media Asset Management Solutions Market Size, Share, Growth Analysis, By Deployment(On-premise, Cloud), By Application(Large Enterprises, Small) - Industry Forecast 2024-2031

Report ID: SQSG45F2029 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 62 | Figures: 75

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Media Asset Management Solutions Market size was valued at USD 1.37 billion in 2019 and is poised to grow from USD 1.56 billion in 2023 to USD 5.03 billion by 2031, growing at a CAGR of 13.9% in the forecast period (2024-2031).

The top five competitors are expected to control 20% to 25% of the market for media asset management solutions. At this time, businesses are investing more money than ever before in their websites, online sales, and digital advertising. Even small and medium-sized businesses are switching from traditional forms of advertising to digital advertising, not only big businesses. Businesses invest a sizable portion of their overall advertising budget in different digital advertising strategies. Because of this, there is a huge necessity for media and broadcasting solutions and services for managing data and advertisements, which in turn is fueling the market for media asset management products. 'Avid Technology, Inc.', 'Oracle Corporation', 'Adobe Inc.', 'Dalet Digital Media Systems', 'Grass Valley USA, LLC', 'Vizrt Group AS', 'Sony Corporation', 'Prime Focus Technologies', 'VSN Group', 'Evertz Microsystems, Ltd.', 'Microsoft Corporation', 'Imagine Communications Corp.', 'Harris Broadcast Communications', 'Deluxe Entertainment Services Group, Inc.', 'MediaBeacon, Inc.', 'Signiant, Inc.', 'Levels Beyond, Inc.', 'Brightcove Inc.', 'Tedial S.L.', 'Primestream Corporation'

One of the main factors promoting the growth of the market for media asset management systems is the steady transition from on-premises to cloud-based management solutions market solutions. Therefore, cloud storage solutions enable businesses to use cloud storage services in accordance with their storage needs. As a result, the benefits of cloud-based management solutions market solutions have gradually replaced on-premises management solutions market solutions, favorably impacting the growth of the management solutions market throughout the course of the projection period.

Another factor driving the growth of the media asset management solutions market is the increasing use of analytics to manage media assets. In order to effectively manage corporate online content, their services assist organizations in managing unstructured enterprise data, such as text-based data, photos, or videos, into structured information. Predictive analytical tools for content analytics are commonly used in organizations. The newest features added to management solutions market systems are analytical solutions, which assist asset managers in managing organizational media assets by applying cutting-edge IT solutions. As a result, during the projected timeline, the growing use of analytics to manage media assets is expected to have a favorable impact on the market for management solutions market systems globally.

In 2021, North America dominated the media asset management solutions market. In terms of market share, North America is predicted to rule the media asset management solutions industry. One of the primary factors contributing to North America's dominance in the market for media asset management solutions is the region's abundance of media organizations and broadcasters. In North America, the US is the primary market for media asset management products. Over the projected period, the market expansion for media asset management solutions in North America would be aided by hyper scalers' determination to extend the network in the area. Due to the region's expanding broadcast and media industries, the Asia Pacific region is predicted to have the highest growth rate in the market for media asset management solutions.

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