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IDC predicts a boom in media asset management

What has been dubbed the rich media asset management (RMAM) market will undergo strong growth reaching US$1.5 billion by 2006, says IDC.

What has been dubbed the rich media asset management (RMAM) market will undergo strong growth over the course of the next four years. The evolving RMAM space broadly covers applications that are used to manage a company’s marketing or brand assets.

According to research from IDC, the emerging market will reach US$1.5 million by 2006. The use of RMAM software will continue to expand to encompass a wide range of vertical markets, sub-markets and applications.

“The rich media asset management market was once almost entirely restricted to the entertainment sector. Now, enterprises of all kinds have realised that they have a wealth of information in non-text formats that needs to be made accessible throughout the enterprise,” comments Joshua Duhl, analyst for IDC’s content management & 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,” he adds.

Applications and solutions in the rich media asset management vertical markets and sub-markets 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 near complete solutions, partnerships will continue to increase and new entrants and market consolidation will occur.

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