Status : Published | Published On : Apr, 2024 | Report Code : VRICT5177 | Industry : ICT & Media | Available Format : | Page : 189 |
The Global Data Monetization Market is projected to grow from USD 3.7 billion in 2023 to USD 8.4 billion in 2030 at a CAGR of 18.6% during the forecast period from 2025 to 2030.
The sharing between the companies is known as data monetization and used to create new revenue-generating streams. Direct and indirect data monetization are the types of data monetization. Direct data monetization involves selling of companies trading data and to generate revenue directly. Companies can reduce their costs and improve the productivity efficiently, discover new customers and develop new products and services. additionally, this process creates huge opportunities and opens ways for innovations.
Market Segmentation
Insight by Data Type
Based on type, the Data Monetization Market is segmented into Product, Financial, Customer and Supplier. Customer data segment to develop significantly during the forecast period as it is used to better communicate with the customer and retain them for a long period.
Insight by Component
The Data Monetization Market is bifurcated into software and services. Software segment accounted for the largest share and is anticipated to dominate the market during the forecast period as by using cloud based solutions provide computing power.
Insight by Deployment
On the basis of deployment, the Data Monetization Market is segregated into on-premises and cloud. The on-premises segment is expected to hold the largest share of the global data monetization market during the forecast period as it refers to implement the data monetization solutions on the customer’s premises using their infrastructure.
Insight by Organization Size
Based on organization size, the Data Monetization Market is segmented into large enterprises and small and medium enterprises. The large enterprises division dominated the market as it has large corporate network and many revenue streams.
Insight by Industry Verticals
Based on industry verticals, the Data Monetization Market is segmented into retail & e-commerce, BFSI, telecommunication, manufacturing, healthcare, media & entertainment and others. The telecommunication industry vertical is anticipated to dominate the market as it is experiencing increased data generation due to advancements in technologies.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 3.7 Billion |
Revenue Forecast in 2030 |
U.S.D. 8.4 Billion |
Growth Rate |
18.6% |
Segments Covered in the Report |
By Data Type, By Component, By Deployment, By Organization Size, By Industry Verticals |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Latin America, Middle East And Africa |
Industry Dynamics
Growth Drivers
The growth drivers of the Data Monetization Market are the technological advancements in big data & analytics solutions and rise in the volume of enterprise data. Rise in awareness about potential benefits of data monetization and increased adoption of data monetization among telecom service providers offers a major opportunity for the growth of the market. The focus of small and medium businesses toward the data monetization strategy to generate revenue streams also plays important role in the growth of this market. For instance companies like LinkedIn, Netflix, Google and Amazon are popular for monetizing information to generate revenue and gain market share. To help the enterprises to take the right business decisions, data monetization help them to convert raw data into something valuable which is based on multiple data sources. A lot of industry verticals use analytics and business intelligence tools to create data monetization opportunities. For instance, financial services companies adopt data monetization to analyze thousands of trades to be able to capture profit from minor market inefficiencies. Financial services companies use data monetization to analyze thousands of trades to be able to capture profit from minor market inefficiencies. Retailers use data monetization to automate the process of analyzing billions of transactions. Smartphones and increased penetration of internet shall provide rewarding opportunities to the market as their usage generates enormous amount of data
Restraints
Security and privacy concerns are expected to impede the data monetization market growth. Lack of organizational culture and capabilities are also the retraining factors of this market growth. Inefficient organizational procedures, lack of sufficient roles and responsibilities and missing procedures are the barriers which are anticipated to retrain the market growth. Data sharing across industries with existing systems might result in poor data quality. The incorrect data might result in false facts which lead to wrong decision making. Hence the quality of data collected is anticipated to challenge the adoption of data monetization tools, ultimately restraining the growth of the market. Further, talent and skilled personnel management issues are restraining the market growth.
Geographic Overview
Asia Pacific dominates the Data Monetization Market during the forecast period as it adopts advance technologies such as cloud computing and IoT. Increase in the number of enterprises in this region is the major growth factor of data monetization market. Asia-Pacific region is subjected to grow at the fastest CAGR in the upcoming years. Telecom service providers have recognized the value of the collected data and have started to monetize the information to improve their profitability-per-user ratio.
Key Players Covered in the Report
Some of the key players in this market are Accenture, SAP SE, Adastra Corporation, Reltio, Optiva, Inc. (Redknee Solutions Inc.), Monetize Solutions, Inc., VIAVI Solutions Inc., ALC, Mahindra ComViva, Cisco Systems, Inc.
Recent developments by Key Players
Recently, Accenture acquired the business of media and marketing technology company Jixie to strengthen its marketing transformation capabilities and resources for sustainable business growth. This acquisition shall help customers to optimize customer data effectively and efficiently into actionable insights, speed and trust, regaining the control needed to securely capitalize on Indonesia’s fast-growing digital economy.
In the recent times, Comviva is been awarded with 'Golden Peacock Innovative Product/Service Award 2023' in the telecom sector for its BlueMarble digital customer experience and monetization solution which is a digital order management, commerce, customer care and partner management digital platform. For the preparation for 5G evolution, this digital platform is designed to empower CSPs with a rapid transformation and monetization.
The global Data Monetization Market report offers a comprehensive market segmentation analysis along with the estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
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