USD 12.61 billion
Global Data Monetization Market Size, Share, Growth Analysis, By Organization Size(Large Enterprises, SMES), By Method(Data As A Service, Insight As A Service), By Vertical(BFSI, It & Telecom) - Industry Forecast 2024-2031
Report ID:
SQMIG45C2059 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
95 |
Figures:
76
Global Data Monetization Market Insights
Data Monetization Market size was valued at USD 12.61 billion in 2019 and is poised to grow from USD 15.4 billion in 2023 to USD 92.87 billion by 2031, growing at a CAGR of 22.1% in the forecast period (2024-2031).
Data monetization is the process of converting a large volume of unused or unstructured enterprise data into valuable insights and monetizing that data into currency or service exchange. It facilitates enterprises in reducing the price of their business operations and increasing revenue streams by investing in analytics platforms that transform unstructured data into valuable insights based on requirements. It is the process of releasing the significant financial value that data in an organization's enterprise systems possesses. Adoption of these solutions has grown over time as a result of increased awareness about the potential benefits of data monetization, an increase in enterprise focus on creating new opportunities for growth and revenue, and other factors.
US Data Monetization Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Large Enterprises
Fastest Growth
SMES
Growth Rate
22.1% CAGR
Global Data Monetization Market , 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Data Monetization Market Size By Organization Size, 2021-2028 ($ Bn)
Global Data Monetization Market Size By Organization Size , 2021-2028 (%)
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Global Data Monetization Market Segmental Analysis
The global data monetization market is segmented based on Organization Size, Method, Vertical, and Region. Based on Organization Size data monetization market is categorized into Large Enterprises and SMEs. Based on Method data monetization market is categorized into Data as a Service, Insight as a Service, Analytics-enabled Platform as a Service, and Embedded Analytics. Based on Vertical data monetization market is categorized into BFSI, IT & Telecom, E-commerce and Retail, Healthcare, Manufacturing Energy and Utilities, and Others. Based on the region data monetization market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Data Monetization Market Analysis by Organization Size
In 2021, the large enterprises segment had a Data Monetization Market share of more than 75%. This is due to the increasing presence of large organizations with global dominance. Companies in the data monetization market have established a strong presence in the retail, BFSI, and telecommunications verticals. Furthermore, large enterprises have customers all over the world and along the value chain. They have sufficient technical knowledge, business strategies, and capital. In the Data Monetization market, there is a growing demand for advanced technologies such as cloud computing and artificial intelligence (AI). To ensure business continuity, large enterprises can easily invest in such new technologies. SMEs are expected to grow at a CAGR of more than 25%.
Data Monetization Market Analysis by Method
In 2021, the analytics-enabled platform as a service segment had a Data Monetization Market share of more than 35%. This is due to the method's ability to provide customers with flexible data monetization. This method comes pre-installed with BI and analytics tools and is designed to provide consumers with real-time insights as well as high versatility. It is also compatible with all cloud-based solutions, supports a wide range of data formats, and can be deployed both on-premises and in the cloud. This method, however, necessitates the assistance of a professional for maintenance and installation. From 2022 to 2028, the embedded analytics segment is expected to grow at a CAGR of more than 20%. Embedded analytics can augment existing applications with features like data visualization, dashboard reporting, and analytics.
Data Monetization Market Analysis by Vertical
In 2021, the BFSI segment had the highest share of 20%. This is due to the increasing presence of data-rich businesses in the banking sector. BFSI organizations manage over 3.8 petabytes of data, according to Data Monetization industry experts working in banking and financial security firms. This has resulted in huge demand for data monetization in the BFSI sector. Furthermore, data monetization in BFSI speeds up customer interactions and operating income by more than 50%. Such factors are expected to drive Data Monetization Market growth during the forecast period. From 2022 to 2028, the healthcare industry is expected to grow at a CAGR of around 13%. The growing proclivity of healthcare organizations toward data monetization is expected to drive Data Monetization Market growth.
Global Data Monetization Market By Organization Size, 2021(%), 2023 (%)
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Global Data Monetization Market Regional Insights
In 2021, North America had the largest Data Monetization Market share of more than 35%. This is due to the presence of major players in the area. Furthermore, the growth of the region is heavily influenced by the United States. Companies in the United States and Canada are investing in and quickly adopting advanced technologies such as cloud computing, big data, and analytics. Furthermore, rising demand among enterprises to automate decision-making processes, reduced infrastructure costs, and technological advancements have all had a significant impact on regional growth. From 2022 to 2028, the Asia Pacific region is expected to grow at the fastest CAGR of more than 30%. The region's growing adoption of cloud, IoT, and big data solutions is expected to fuel Data Monetization Market growth over the forecast period.
Global Data Monetization Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Data Monetization Market Dynamics
Data Monetization Market Driver
- Data is used to improve the performance of sales and marketing. Old sales reports are used to implement predictive business intelligence, allowing access to customer data that improves efficiency and builds customer relationships. Digital technologies now collect massive amounts of data, such as consumer demographics, product preferences, and sales performance. In the near future, 5G technology will be widely adopted around the world. It has more computing power, but it generates a massive amount of data that can be used to generate meaningful insights.
- On a large scale, data is being generated from various data sources. Whether it's Fitbit, Google, or Facebook, the use of data has evolved and is now regarded as an essential factor of any company's digital transformation. The use of IoT is increasing, and the generation of insights from all incoming data is critical. In today's business environment, organizations are utilizing data monetization solutions to generate new revenue streams and insights from disparate data sources in order to make faster and more critical decisions.
Data Monetization Market Restraint
- Companies are recognizing the value of their data. As a result, data monetization is expected to spread across industries, creating a new source of revenue and a new business line. When it comes to monetizing data, one of the most important factors to consider is data quality. With accurate data, organizations can make sound decisions. Data sharing across industries and the integration of data products with existing systems may result in lower data quality.
- There is a requirement to share collaborated and refined data with employees based on the privileges granted to them for assisting them in generating valuable insights. Regulatory bodies are implementing new regulation policies in order to incorporate them into the normal operation of businesses. Employees may have access to certain types of information while being denied access to others. Organizations must exercise extreme caution when integrating data from multiple sources and making it available to employees.
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Global Data Monetization Market Competitive Landscape
The Data Monetization Market is characterized by the presence of a few well-established players. New product launches, partnerships, and investing in research & development have been key business strategies.
Data Monetization Market Top Player's Company Profiles
- IBM Corporation
- Oracle Corporation
- SAP SE
- Infosys Limited
- Salesforce.com, Inc.
- Cisco Systems, Inc.
- SAS Institute Inc.
- TIBCO Software Inc.
- Accenture plc
- AT&T Inc.
- Google LLC
- Microsoft Corporation
- AWS (Amazon Web Services)
- Equifax Inc.
- REaD Group plc
- Nielsen Holdings plc
- D&B (Dun & Bradstreet)
- Visa Inc.
- Mastercard Inc.
- PayPal Holdings, Inc.
Data Monetization Market Recent Developments
- In May 2022, NielsenIQ launched NielsenIQ Activate, a software-as-a-service (SaaS) solution that helps retailers to increase revenue by leveraging retail media and complete consumer analytics to activate shoppers with targeted promotional offers.
- In January 2022, Ensemble Travel Group developed a Data Monetization Center (DMC), which will allow Ensemble to spot Data Monetization industry trends early and ensure that members can benefit fully from that information.
- In February 2021, Google has launched a data analytics solution in order to increase vaccine access. The Intelligent Vaccine Impact solution from Google Cloud makes use of data analytics tools to increase vaccine availability and access. COVID-19 forecasting and analysis is the first step in the Intelligent Vaccine Impact solution. Researchers created a novel time-series machine learning approach that combines artificial intelligence with an epidemiological foundation.
Global Data Monetization Key Market Trends
- Large amounts of unstructured data are expected to generate profitable opportunities for businesses. Businesses can use data monetization to transform raw or aggregated data from multiple data sources into something useful and insightful, allowing them to make better business decisions. Companies have seen an exponential increase in the quantity, variety, and speed of data, which has boosted data monetization adoption.
- The importance of data monetization in generating new revenue streams from an organization's data volume has grown dramatically, fueling the growth of the data monetization market. Instead of focusing solely on increasing transaction volume, organizations should concentrate on leveraging current transaction volume by mining a valuable, underutilized asset to generate new revenue streams. Card and payment companies, for example, are being pushed to rethink their existing business models and compete with competitors on price and service.
- As data has become the most valuable asset for many businesses, data monetization vendors are now investigating how to monetize their assets by leveraging technologies such as big data and analytics. Data monetization, in conjunction with advanced big data technology, can turn a large amount of network data, device data, or consumer behavior data into a viable revenue source for businesses. Furthermore, the data monetization market is expected to grow as a result of continuous technological advances in big data and analytics solutions.
Global Data Monetization Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, North America had the largest Data Monetization Market share of more than 35%. This is due to the presence of major players in the area. the Asia Pacific region is expected to grow at the fastest CAGR of more than 30%. The region's growing adoption of cloud, IoT, and big data solutions is expected to fuel Data Monetization Market growth over the forecast period. the BFSI segment had the highest share of 20%. This is due to the increasing presence of data-rich businesses in the banking sector. This has resulted in huge demand for data monetization in the BFSI sector. Furthermore, data monetization in BFSI speeds up customer interactions and operating income by more than 50%. Companies have seen an exponential increase in the quantity, variety, and speed of data, which has boosted data monetization adoption.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 12.61 billion |
| Market size value in 2031 | USD 92.87 billion |
| Growth Rate | 22.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Data Monetization Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Data Monetization Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Data Monetization Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Data Monetization Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Data Monetization Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Data Monetization Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Data Monetization Market Report Snapshots
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