Data Monetization Market Size Hit USD 10.47 Billion at a CAGR of 20.30% in 2028
The global data monetization market is forecast to reach USD 10.47 Billion by 2028, according to a new report by Reports and Data. Monetizing data is an opportunity to enhance, activate, and create new value from a customer-based data assets in a safer way. Monetization of data serves as a way of leveraging data as a competitive asset. They can create a new revenue stream to expand investments in data acquisition, processing, and forecasting while reducing other expenses across the organization, increasing profitability. Data monetization aims to improve the internal processes such as marketing and customer experience or the maintenance of equipment. It also involves using data to extend an organization’s product offering with data-driven services or business models to create new revenue streams.
The growing adoption of cloud-based enterprise applications has helped in reducing IT costs. Moreover, the ever-increasing popularity of IoT, AI, and big data analytics in the APAC region will also influence market growth. The growing adoption of smartphones, coupled with the penetration of the internet, will boost the market for e-commerce websites and applications.
Key participants include Adastra, Accenture, Dawex, Cisco, Emu Analytics, Elevondata, Google, Gemalto, iConnectiva, IBM, Mahindra Comviva, Infosys, Narrative, Monetize Solutions, NETSCOUT, NESS, Optiva, Openwave Mobility, Reltio, Paxata, SAS, SAP, and Virtusa, among others.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Data Monetization Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Data Monetization Market.
Further key findings from the report suggest
- Among the data types the customer data accounted for the largest market share of ~35% in the year 2018. Customer data is so essential in any business. Companies are investing in millions of getting more information on their customers. Customer purchase patterns and trends play a crucial role in stocking such products in the warehouse. Monetization help companies in maintaining the communication data with the customers to follow up issues. This improves the customer relationship with the organization.
- Financial data is forecasted to witness the highest growth rate of 17.6% during the forecast period. The financial data produce specific outputs, including accounting reports, operating & capital budgets, forecasts of the cash flows, working capital reports, and analysis based on the considerations of various scenarios. The financial data can be analyzed in multiple ways, including ratio analysis, trend evaluation, and financial modelling.
- Among the components, the solutions accounted for a larger market share of ~54% in the year 2018. The solutions are used by end-use industries for applications such as operations, human resources, financial, IT, marketing, and sales, among others.
- The services segment is forecasted to witness a higher growth rate of 17.2% during the forecast period. The segment is further classified into managed and professional services.
- North America held the largest market share of ~30% in the year 2018. The growing investments in digitalization and e-commerce are governing the market in the region. The region has adopted new and advanced technologies at a very early stage. High penetration of cloud technology, the internet of things, machine learning, artificial intelligence, and big data, among others, are propelling the market in North America. All these technologies and innovations generate an enormous amount of data every day. Moreover, the region is a hub for significant market vendors who are increasingly launching new products in the market.
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For the purpose of this report, Reports and Data have segmented into the global Data Monetization market on the basis of data type, component, organization size, deployment mode, end use, industry vertical, and region:
Data Type Outlook (Revenue, USD Billion; 2018-2028)
- Customer data
- Product data
- Financial data
- Supplier data
Component Outlook (Revenue, USD Billion; 2018-2028)
Deployment Mode Outlook (Revenue, USD Billion; 2018-2028)
Organization Size Outlook (Revenue, USD Billion; 2018-2028)
- Small and Medium Sized Enterprise
- Large Enterprises
End Use Outlook (Revenue, USD Billion; 2018-2028)
- Process Optimization
- Product Optimization
- Risk Prevention and Fraud Detection
- Marketing and Sales Solution
Industry Vertical Outlook (Revenue, USD Billion; 2018-2028)
- Healthcare and Life Sciences
- Retail and E-commerce
- IT and Telecommunication
- Banking, Financial Services, and Insurance (BFSI)
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
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Key Advantages of Data Monetization Market:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Data Monetization Market industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Data Monetization Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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