The global data monetization market size reached US$ 2.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.3 Billion by 2028, exhibiting a growth rate (CAGR) of 18.9% during 2023-2028.
Data monetization refers to the process of identifying, utilizing, and marketing data to generate monetary value. It assists in boosting profitability, reducing operating costs, improving customer experience, and optimizing the use of data, extracting insights for the businesses, customers, and partners. Besides this, data monetization is also used to mitigate risks, create new opportunities for growth and maximize the value of products and services. Consequently, data monetization is gaining immense traction across the globe.
Data monetization is utilized in different organizations for planning, improving collaborations and sharing data amongst internal and external stakeholders. It also plays a vital role in selling services, reducing churn and supporting customer care. Thus, the growing number of business organizations across the globe represents one of the significant factors bolstering the market growth. Besides this, data monetization offers numerous commercial opportunities for business intelligence support, including mobile marketing. Additionally, the introduction of advanced technologies, such as the Internet of Things (IoT), artificial intelligence (AI) and big data, have encouraged companies from different industry verticals to focus on data monetization. Other factors contributing to an increase in the adoption of data monetization include the rising shift towards cloud and cloud-based technology solutions on account of the huge computing and storage power over the physical storage mediums. Apart from this, the rising enterprise data volume, in confluence with the growing awareness about data monetization around the world, is anticipated to fuel the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global data monetization market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on method, organization size and end use.
Breakup by Method:
Data as a Service
Insight as a Service
Analytics-enabled Platform as a Service
Breakup by Organization Size:
Small and Medium Enterprises
Breakup by End Use:
E-commerce and Retail
IT and Telecommunications
Energy and Utilities
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 1010DATA (Advance Communication Corp.), Accenture Plc, Adastra Corporation, Comviva (Tech Mahindra), Infosys Limited, International Business Machines Corporation, Monetize Solutions Inc., Optiva Inc., Paxata Inc. (Datarobot Inc.), Reltio, SAP SE, Thales Group and TIBCO Software Inc.
Base Year of the Analysis
Method, Organization Size, End Use, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
1010DATA (Advance Communication Corp.), Accenture Plc, Adastra Corporation, Comviva (Tech Mahindra), Infosys Limited, International Business Machines Corporation, Monetize Solutions Inc., Optiva Inc., Paxata Inc. (Datarobot Inc.), Reltio, SAP SE, Thales Group and TIBCO Software Inc.
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Key Questions Answered in This Report
The global data monetization market was valued at US$ 2.9 Billion in 2022.
We expect the global data monetization market to exhibit a CAGR of 18.9% during 2023-2028.
The sudden outbreak of the COVID-19 pandemic has led to the growing deployment of data monetization over the physical storage mediums across several organizations for huge computing and storage power, during remote working scenario.
The rising adoption of data monetization in boosting profitability, reducing operating costs, improving customer experience, optimizing the use of data, etc., is primarily driving the global data monetization market.
Based on the method, the global data monetization market can be categorized into data as a service, insight as a service, analytics-enabled platform as a service, and embedded analytics. Among these, analytics-enabled platform as a service currently accounts for the majority of the global market share.
Based on the organization size, the global data monetization market has been segregated into large enterprises and small and medium enterprises, where large enterprises currently hold the largest market share.
Based on the end use, the global data monetization market can be bifurcated into BFSI, E-commerce and retail, IT and telecommunications, manufacturing, healthcare, energy and utilities, and others. Currently, the BFSI sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global data monetization market include 1010DATA (Advance Communication Corp.), Accenture Plc, Adastra Corporation, Comviva (Tech Mahindra), Infosys Limited, International Business Machines Corporation, Monetize Solutions Inc., Optiva Inc., Paxata Inc. (Datarobot Inc.), Reltio, SAP SE, Thales Group, and TIBCO Software Inc.
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