With 14.6% CAGR, Media Asset Management Market Worth USD 3.81 Billion by 2029
Fortune Business Insights
6 min read
Fortune Business Insights
According to Fortune Business Insights, the global Media Asset Management Market size is projected to reach USD 3.81 Billion in 2029, at a CAGR of 14.6% during the forecast period
Pune, India, Sept. 08, 2022 (GLOBE NEWSWIRE) -- The global media asset management market size was valued at USD 1.37 billion in 2021 and reached a valuation of USD 1.53 billion in 2022. The market is expected to reach USD 3.81 billion by 2029 with a CAGR of 14.6% during the forecast period. Increasing demand for cloud-based asset management is anticipated to drive market growth. Integration of artificial intelligence in Media Asset Management (MAM) is estimated to propel market trajectory. Emergence of numerous technologies is expected to facilitate market development. Fortune Business Insights™ shares this information in its report titled “Media Asset Management Market, 2022-2029.”
Key Industry Development
January 2021- Quantum acquired Square Box Systems Ltd. The acquisition is aimed to strengthen the company’s ability to offer software solutions that help companies with unlocking business value packed on their cloud environment and on-premises.
Increasing Demand for Cloud-based Asset Management to Boost Market Growth
High Costs of Integration and Implementation to Hinder Market Growth
Digital Growth during Pandemic Affected Market Growth Positively
The COVID-19 pandemic led to increase in digitalization. Large amount of data related to media kept people more engaged in online consumption of content. Rise in the market growth was attributed to rise in digitization.
Click here to get the short-term and long-term impact of COVID-19 on this Market:
Increasing Demand for Cloud-Based Asset Management to Drive Market Trajectory
Mounting demand for cloud-based asset management is anticipated to drive the media asset management market growth. Change in consumer behavior and increase in the amount of media assets are expected to drive market. Entry of new MAM cloud-based solution providers has forced traditional MAM service providers to update their cloud platforms. Many MAM providers, including Sony Corporation, Hexaglobe, Imagen, Publitio, and Blue Lucy Media have started offering cloud-based media asset management solutions. Various organizations are partnering with cloud platform providers such as AWS and Google.
However, high costs of implementation and integration for management of media assets are anticipated to hinder market development.
Segments
Due to Increasing Use of Cloud Hosting Environment, Cloud Segment to Dictate Segment
On the basis of deployment, the market is segmented into cloud and on-premise. The cloud segment held a major market share of around 73.2% in 2021. It is due to increasing use of cloud-hosting environment for organizing, storing, and managing of assets. Various organizations are expected to shift to cloud-based MAM during the forecast period.
Owing to Rise of Patients, Small & Medium Size Enterprises to Lead the Segment
Based on enterprise size, the market is segmented into small & medium size enterprise and large enterprise. Small & medium size enterprise segment to have highest CAGR due to rise in the adoption of MAM.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
North America to Lead Market Due to Emergence of Evolving Technologies
North America is expected to dominate the media asset management market share and is estimated to have maximum revenue. The region reached a valuation of USD 576.6 million in 2021 due to rise in digital data, sensors, and social media and developing technologies that capture and process data. Key players from Canada and the U.S. play a significant role in improving services, products, and customer reach. Presence of major media and broadcasting companies is anticipated to facilitate market progress.
Asia Pacific is also expected to have a considerable growth due to the emergence of industry 4.0, and the adoption of automation is expected to increase the market share.
Europe is anticipated to have a prominent share due to increasing rate of digitization in Italy, Germany, Benelux, and the U.K.
Competitive Landscape
Key Players to Boost Market Progress Owing to Acquisition Strategies
Primary industry players of the market have used strategic acquisition strategies to gain market traction. In March 2022, Amazon acquired Metro-Goldwyn-Mayer, which marks the company’s second largest acquisition. Through this acquisition, Amazon Prime expanded its catalog with 1,700 series and TV programs and more than 4,000 movies. This acquisition is projected to accelerate market growth. Key players are focusing on the expansion of market share by increasing their customer reach.
List of Key Players Profiled in the Report
Microsoft Corporation
Quantum Corporation
Amazon.com, Inc.
Sony Group Corporation
Dalet
Tedial
VSN Video Stream Networks S.L.
Imagen
NEP Group, Inc.
SI-MEDIA Srl
Major Table of Contents:
Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Executive Summary
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Global Media Asset Management Key Players Market Share Insights and Analysis, 2021
Global Media Asset Management Market Size Estimates and Forecasts, By Segments, 2018-2029
Key Findings
By Deployment (USD)
Cloud
On-premise
By Enterprise Size (USD)
Large Enterprise
Small & Medium size Enterprise
By Region (USD)
North America
South America
Europe
Middle East & Africa
Asia Pacific
North America Media Asset Management Market Size Estimates and Forecasts, By Segments, 2018-2029
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