Data Monetization Market is estimated to be US$ 15.84 billion by 2030 with a CAGR of 22.8 % during the forecast period
Data Monetization Market accounted for US$ 2.02 billion in 2020 and is estimated to be US$ 15.84 billion by 2030 and is anticipated to register a CAGR of 15.84%. The practice of monetizing data assets in order to produce measurable economic benefits from available data sources or real-time streamed data is known as data monetization. Data monetization helps to support data created by corporate activities, as well as other elements such electronic devices and sensors that are part of the internet of things. The information acquired is then used to derive significant insights for determining economic worth or service exchange. By investing in an analytics platform based on the requirements, data monetization may assist enterprises in reducing data storage costs or increasing revenue.
The report " Global Data Monetization Market, By Method (Direct Monetization and Indirect Monetization), By Industrial Vertical (Finance, Retail, Telecommunication & IT Manufacturing, Healthcare, Energy and Utilities, Government and Defense and Others), By Application (Sales & Marketing, Supply Chain Management, Capital Asset Management and Remote Equipment Monitoring) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East &Africa) Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In August 2021, AnalyticsIQ, the leading predictive analytics innovator and marketing data creator, today announced the launch of their new e-commerce store for audience data. The store is built with Narrative’s new Data Shops offering, which enables companies to effortlessly spin up a branded data shop that lets data users easily find, purchase, and leverage a variety of proprietary data assets via a familiar e-commerce experience.
Analyst View:
The worldwide data monetization industry is growing due to rising data volumes and improved ability to acquire a diverse variety of data kinds. Additionally, the growing use of external data sources, combined with market competitors' focus on developing technologically improved solutions, is likely to drive the worldwide data monetization market forward over the forecast period. Furthermore, the worldwide data monetization market is expected to develop due to widespread acceptance of data monetization by mobile carriers and the BFSI industry, advancements in technology, and a growing desire to find new revenue sources. However, rising worries about data privacy and ownership, as well as a lack of awareness about the potential benefits of data monetization, are impeding the market's expansion.
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Key Market Insights from the report:
The Global Data Monetization Market accounted for US$ 2.02 billion in 2020 and is estimated to be US$ 15.84 billion by 2030 and is anticipated to register a CAGR of 15.84%. The Global Data Monetization Market is segmented based on the method, industrial vertical, application and region.
· By Method, the Global Data Monetization Market is segmented into Direct Monetization and Indirect Monetization.
· By Industrial Vertical, the market is segmented into Finance, Retail, Telecommunication & IT Manufacturing, Healthcare, Energy and Utilities, Government and Defense and Others.
· By Application, the market is segmented into Sales & Marketing, Supply Chain Management, Capital Asset Management and Remote Equipment Monitoring.
· By Region, the Global Data Monetization Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America on the basis of region is expected to hold maximum share in the growth of the global data monetization market.
Competitive Landscape:
The key players operating in the global Data Monetization market include Cisco Systems Inc., Google Inc., IBM Corporation, Accenture, Monetize Solutions, Inc., VIAVI Solutions Inc., Adastra Corporation, CellOS Software Ltd, Infosys Limited and Mahindra Com Viva.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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