31 Mar 2023

5 Emerging Trends in Digital Asset Management You Need to Know 

Digital Asset Management (DAM) has become increasingly important for organizations as they seek to manage the expanding volume of digital content. As technology continues to evolve, several trends are emerging in the world of DAM that organizations need to be aware of to stay ahead of the curve.  

Global Digital Asset Management Market to Reach $29.2 Billion by 2030 

The global market for Digital Asset Management (DAM), assessed at $5.7 Billion in 2022 is predicted to reach $29.2 Billion by 2030. The CAGR is expected to reach 22.6% over the study period of 2022 to 2030.   

There will be a significant focus on DAM solutions as they continue to support organizational growth and scalability. 

Trends to Watch 

#1 Artificial Intelligence (AI) is becoming increasingly important in the world. Especially as it relates to our evolving technology stacks. AI can be used in a variety of ways in DAM platforms to automate tasks such as tagging and categorizing assets, improving search, and managing content. With artificial intelligence, DAM systems can learn from user behavior, making it easier to suggest relevant content to users.  

ChatGPT and similar solutions gained popularity recently. It's difficult to ignore the hype around the possibilities of a new era for content creation and AI-enabled everything. GPT's capacity to solve a range of issues within a constrained context is impressive, especially in producing and processing text as a language model.  

DAM solutions are already impacted by this through the translation of metadata, creation of variants, and automated classification based on textual content. GPT-4 can now interpret pictures thanks to its "multimodal" feature.

The potential uses of GPT-4 are endless, especially in light of the significant volume of visual information supplied to DAM systems. If you haven’t experimented with AI already, it’s time to try. 

#2 Cloud-based DAM systems are becoming standard as they offer a range of benefits over on-premises systems. Cloud-based DAM systems are more scalable, flexible, and cost-effective than on-prem options. For one, they don’t require upfront investments in hardware.  

Additionally, cloud-based DAM systems can be assessed from anywhere, making it easier for teams to collaborate effectively at any time. The always-on functionality and business continuity cloud-based solutions provide make them a great option. 

#3 Integration with other systems is becoming increasingly important for DAM platforms. DAM systems hold essential assets that are used across teams and departments. It is essential they seamlessly integrate with business-critical solutions like content management systems, marketing automation platforms, and e-commerce platforms.

Integration makes it easier to automatically manage and distribute content across different channels. Integration with other martech solutions help organizations gain better insights and control over how content is being used and consumed. 

#4 Video and 3D asset content growth is an exciting area to watch. As content formats evolve, DAM systems adapt to support new, innovative forms of content. Video asset management features including the ability to transcode, preview, and edit video content are becoming increasingly important for users. Similarly, 3D asset management features such as the ability to view, rotate, and annotate 3D models are now part of the “standard” product descriptions that teams rely on. Your DAM needs to be able to support new and evolving content formats.  

#5 Security and compliance focus is an area that can’t be ignored. With the increasing importance of data privacy and security, DAM systems are also focusing more on security and compliance functionality. For example, DAM systems need to incorporate features such as access controls, encryption, and audit trails to help organizations comply with data privacy regulations. Additionally, many DAM systems are now incorporating features such as watermarking and content expiration to help organizations control the distribution and use of their content. Increased security and compliance requirements will continue to evolve and always need to be part of any DAM solution. 

The world of digital asset management is evolving rapidly. Organizations need to stay up-to-date with the latest trends to remain competitive. From AI and cloud-based DAM solutions to integration with other systems and security and compliance focus, trends continue to guide DAM professionals to make informed business decisions.  

How Can CyanGate Help 

Organizations can unlock the full potential of their digital asset solution and drive business agility with CyanGate. With years of experience in implementing and managing DAM systems and services, CyanGate helps organizations leverage the latest DAM technologies to streamline their workflows and gain a competitive edge. Learn more from here.