The Annual DAM Trends Report uncovers the state of the digital asset management market. Learn the DAM statistics that matter, the benefits of a DAM system, and how a DAM compares to other solutions on the market.
The new edition of the report is filled with use case information, in-depth proof points, and DAM user stories.
Interested in what you can learn from the DAM Trends Report? Read this short extract or just download the full report here!
We surveyed over 100 organizations to learn how they use DAM, the benefits they're experiencing and the ROI from their investment.
Check out some of the statistics we uncovered in this DAM Trends extract and learn how you can leverage DAM to to improve business operations, increase efficiency and drive better business results.
4 Key DAM Trends Findings
Finding #1: The Market is Exploding
We’re on the precipice of huge DAM industry growth.
Currently valued at USD 4.2 billion, the global DAM market is projected to reach USD 8.0 billion by 20271.
Contrary to expectations, DAM use spans multiple departments, not just marketing and design. 71% of respondents reported that their DAM was being used by external contractors. More than half of our respondents said DAM is already being used by their entire organization.
Of the 70% of our survey respondents already using a cloud-based DAM, half of those are aiming to expand their DAM to become an organization-wide solution.
As more and more departments begin realizing the benefits of a DAM we predict it becoming a core component of the tech stack.
Finding #2: DAM Video Capabilities are in High Demand
Video consumption and storage is on the rise.
Video consumption is set to hit 3.5 BILLION internet users by the end of 2023 – almost half the global population.
Aligning with that, video is quickly becoming one of the most popular file types stored in a DAM. 82.8% of survey respondents reported video as their second most stored asset, behind only photos, and on par with logos!
The advanced video asset management that MediaValet offers is an essential feature for customers. It's going to become even more important in the future.
Customers like the Jane Goodall Institute have made leaps and bounds with the audio/ visual intelligence (AVI) offerer by MediaValet! Read more about their story here.
Finding #3: DAM Integrations are Key to Business Efficacy
DAM integrations facilitate better business outcomes.
Automating key business processes and increasing efficacy are crucial factors to consider when reviewing integrations.
DAM users spend integration budget more wisely than those with other solutions. What are the most popular integrations? Project management and creativity softwares, such as Wrike and Adobe Creative Cloud.
Because a DAM facilitates both documentation management and advanced permissions, DAM users have available budget to invest in integrations that increase efficiencies and effectiveness of teams and business processes.
Conversely, non-DAM users are 10% more inclined to spend budget on separate use technology, such as identity management and documentation softwares.
Finding #4: ROI is Achieved in Less than 1 Year
Customer satisfaction around DAM systems is increasing.
Return on investment (ROI) is always vital to the retention of software and technology, but especially so in the current climate.
Of the survey respondents that could measure their DAM ROI, 60% shared they achieved ROI within the first twelve months. 75% of survey takers accomplished ROI within two years of implementing their DAM.
Customer satisfaction is continually climbing with almost one fifth of respondents set to increase spend, storage, or both for the DAM they already have in place.
Interested in learning more from the DAM Trends Report? You can download the full paper right here!
MediaValet is a leader in cloud-based digital asset management that helps organizations manage, organize and share their digital assets, improving productivity and increasing ROI. See MediaValet in action today.