Spotlight

Report:

The Forrester Wave™: Digital Asset Management Systems, Q1 2024

How does Forrester define the Digital Asset Management Systems market in 2024?

Marketing and brand leaders need DAM systems that can adapt quickly to create precise rich-media assets, apply generative AI to manage content at scale, and support an expanded role of design within the enterprise. The market is evolving toward three key capabilities: 1) integration and performance at scale to drive precise consumer interactions with CMS, PIM, and creative toolkits, 2) intelligent application of AI for content management including visual search and AI-influenced asset identification, and 3) driving enterprise value through design-led creative strategy that breaks down silos and impacts strategic decisions.

Key Facts for The Forrester Wave™: Digital Asset Management Systems, Q1 2024 in 2024

How did the Digital Asset Management Systems market evolve in 2024?

What product features are required to be included in this year's evaluation?

What are the common features of top products in the Digital Asset Management Systems space?

No common features specified.

Scope Exclusions

Inclusion Criteria

Vendors must, among other requirements:

Offering Strengths — Relative Weighting

Strategy Strength — Relative Weighting

FAQs

Q: What does this research cover?

A: This research covers a comprehensive evaluation of 13 digital asset management (DAM) providers across 26 criteria, including current offering capabilities (asset onboarding, management, production, distribution, architecture, governance, performance), strategy (vision, innovation, roadmap, partner ecosystem, pricing, community), and market presence. The evaluation focuses on enterprise DAM solutions for marketing and brand leaders who need to manage rich-media assets, deliver engaging experiences across digital channels, and leverage AI capabilities for content creation and management.

Q: Who should use this research?

A: This research should be used by technology leaders, marketing executives, and brand managers who are evaluating or selecting DAM solutions for their organizations. It is particularly valuable for enterprises ($1 billion+ revenue) seeking to understand vendor capabilities, compare offerings, and make informed purchasing decisions. The customizable Excel-based vendor comparison tool allows readers to adapt criteria weightings to their specific needs, making it useful for creating vendor shortlists and supporting RFP processes.

Q: What are the mandatory features of vendors included in this market?

A: To be included in this Forrester Wave evaluation, DAM vendors must: 1) serve as the primary DAM solution for large enterprises ($1B+ revenue) with global operations, 2) offer a standalone product that can be licensed separately (not embedded in CMS/PIM), 3) generate at least $25M in annual recurring DAM software revenue excluding services, and 4) demonstrate strong Forrester client mindshare through frequent mentions in client inquiries, RFPs, shortlists, and consulting engagements.

Q: What are some reasons for not being included in this report?

A:

  • DAM functionality embedded within broader platforms (CMS, PIM) without standalone licensing option
  • Insufficient revenue scale (less than $25M annual recurring DAM software revenue)
  • Limited enterprise experience with large organizations ($1B+ companies)
  • Lack of global market presence and capabilities
  • Minimal Forrester client mindshare or market visibility
  • Declining to participate in the evaluation process
  • Inability to meet material submission deadlines (December 11, 2023 cutoff)

Q: What should buyers consider when evaluating products in this market?

A:

  • Integration capabilities with content management systems (CMSes), product information management (PIM), and creative toolkits
  • Scalability features including automatic resizing, workflow automations, and cloud elasticity management
  • AI capabilities for content generation, visual search, metadata enhancement, and identification of AI-influenced assets
  • Support for global content operations including multiple edge locations and CDN capabilities
  • Templating and localization features for personalized, geographically-tailored content
  • Digital rights management and governance capabilities for compliance
  • 3D asset support for product-centric use cases
  • Partner ecosystem strength and implementation ease
  • Pricing transparency and flexibility
  • User community size and vendor innovation roadmap

Q: How has the Digital Asset Management Systems market evolved in 2024?

A:

  • Consumer expectations for personalized experiences requiring precision at different stages of the customer journey
  • Integrated interfaces and workflows that can adapt quickly to create precise rich-media assets
  • Applied generative AI (genAI) to manage the content deluge
  • Expanded role of design within the enterprise for further consumer engagement
  • Larger companies requiring bigger, less-centralized digital teams to scale their activities
  • Features like automatic resizing and scaling of images, workflow automations becoming baseline rather than emerging
  • Visual search capabilities emerging to reduce content deluge and cut agency creative costs
  • Enhanced metadata that can identify AI-influenced assets
  • Design capabilities driving innovation across digital experiences and impacting strategic decisions

Q: What differentiates Strength of Offering vs. Strength of Strategy?

A: Current Offering (vertical axis) measures the strength of a vendor's existing DAM product capabilities across asset onboarding, management, production, distribution, architecture, governance, and performance. Strategy (horizontal axis) evaluates the vendor's forward-looking vision, innovation roadmap, partner ecosystem strength, pricing models, and community engagement to assess their ability to meet future market demands.

Reference

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