Use of Rich Media Asset Management Continues to Expand to Encompass a Wide Range of Vertical Markets
FRAMINGHAM, MA – JULY 18, 2002 – The worldwide rich media asset management (RMAM) software market will experience robust growth reaching $1.5 billion in revenue by 2006, according to IDC. The use of rich media asset management will continue to expand to encompass a wider range of vertical markets, submarkets, and applications.
"The rich media asset management market was once almost entirely restricted to the entertainment sector. Now, enterprises of all kinds have realized that they have a wealth of information in non-text formats that needs to be made accessible throughout the enterprise," said Joshua Duhl, analyst for IDC’s Content Management and Retrieval Software service. "Enterprises, including those in various vertical markets, are now looking to rich media asset management systems to enable them to improve their use of mixed media or non-text communication to train staff, reach their partners, launch products, manage their brands, and explain themselves to the world at large."
Applications and solutions in the rich media asset management vertical markets and submarkets will continue to become better defined and fleshed out more completely to include a range of partner technologies, content services, integration capabilities, and possibly applicable standards. In an effort to provide more-complete solutions, partnerships will continue to increase and new entrants and market consolidation will occur.
The use of rich media asset management for marketing or brand asset management will be the strongest area of growth for this market. Companies will find that this will lead to increased brand recognition, increased market share, and company valuation.
IDC’s recently released document, Worldwide Rich Media Asset Management Software Forecast, 2002-2006 (IDC #27448) provides a five-year outlook for the rich media asset management software market and information on how to make the most out of opportunities for these products. A discussion of macroeconomic and market-specific assumptions, key trends, and high-level vendor behavior is also included. A follow-on version of this study (third quarter 2002) will contain vendor-specific market shares, profiles, and additional analysis.
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IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC's customers comprise the world’s leading IT suppliers, IT organizations, ebusiness companies, and the financial community. Additional information can be found at www.idc.com.
IDC is a division of IDG, the world's leading IT media, research and exposition company.
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