DATA MONETIZATION MARKET: OVERVIEW
Global Data Monetization Market Size is expected to be worth USD 2.03 Billion in 2021 and is estimated to reach up to USD 10.47 Billion by 2029, at a compound annual growth rate (CAGR) of 19.50% from 2021 to 2030.
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The process of converting a sizable amount of unstructured, underutilized corporate data into useful information that can subsequently be traded for cash or services is known as data monetization. Businesses may reduce the cost of their business operations and increase income streams by investing in analytics systems that convert unstructured data into meaningful insights based on needs. This process involves revealing the significant financial value that data in an organization's enterprise systems possesses. It is expected to be crucial to an organization's profitability since it focuses on upselling services, improving customer service, and reducing churn. It is also anticipated that it will be crucial for the delivery of business analytics for a variety of commercial opportunities, including mobile marketing. does this by providing data sold as a viewpoint.
Due to the increase in industry verticals utilizing data monetization platforms to increase their income from the data obtained, the COVID-19 outbreak has had a positive impact on the data monetization business. The incredible density of flash media in compared to spinning (hard) disc storage is one of the reasons IT companies are transitioning to all-flash arrays for their data storage. Flash has a number of benefits, including considerable savings on space, power, cooling, and hosting costs. Storage efficiency may be improved by using a variety of technologies, including deduplication, compression, and thin provisioning. The transition to remote work will include cloud network construction and adjustments to how apps are distributed to the staff who will be working from homes.
Global Data Monetization Market Report Coverage
|Market Size in 2021:||USD 2.03 Billion|
|Forecast Period 2021-2030 CAGR:||19.50%|
|2030 Value Projection:||USD 10.47 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||210|
|Tables, Charts & Figures:||121|
|Segments covered:||COVID-19 Impact Analysis Report, By Component, By Deployment, By Vertical, By Region.|
|Companies Covered:||Accenture, Adastra, Cisco Systems, Inc., Comviva Technologies Limited, IBM Corporation, Infosys Limited, Microsoft, Optiva, Inc, Oracle, QlikTech International AB, Salesforce, Inc., SAP SE, Sisense Inc., ThoughtSpot Inc, TIBCO Software Inc., Trianz, Virtusa Corp, Others|
|Growth Drivers:||1)Solutions for Data Monetization are Becoming More Popular Drive Market Growth 2) Large Volume of Data Being Produced by Industries Propel Market Growth|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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DATA MONETIZATION MARKET: TREND
Large Volume of Data Being Produced by Industries Propel Market Growth
Due to reasons including digitalization, the Internet of Things, and advancements in older technologies, organizations have recently produced more data, both in terms of amount and diversity. Forbes estimates that 95 percent of businesses have trouble managing unstructured data. Linked devices that are connected to the internet are one of the main sources of the massive numbers and varieties of data that are produced. According to forecasts, more individuals will use these connected gadgets, producing massive amounts of data. Timely access to data is a difficult process since the data produced by these sources is kept in various formats at several physical locations.
DATA MONETIZATION MARKET: DRIVERS
Solutions for Data Monetization are Becoming More Popular Drive Market Growth
The adoption of data monetization solutions has expanded over time as a result of growing company focus on creating new opportunities for growth and income, improved awareness of the potential advantages of data monetization, and other factors. Many firms are gravitating toward data monetization since it maximizes enhances revenue, improves compliance, encourages customer loyalty, data consumption, decreases operational expenditures, fortifies alliances, and improves consumer experience and comprehension.
DATA MONETIZATION MARKET: RESTRAIN
Concerns Regarding Data Security and Privacy
It is projected that worries about privacy and security would impede industry development. The integration of data products with existing systems and cross-industry data sharing may result in worse data quality.
The Global Data Monetization market is segmented by Component, Deployment, Organization Size, Vertical, and Region. Based on the Component, the market is categorized into Software, and Services. Based on Deployment, the market is categorized into On-Premises and Cloud-Based. Based on Organization Size, the market is categorized into Large Enterprises, and Small & Medium Enterprises. Based on Vertical, the market is categorized into BFSI, IT & Telecommunication, Retail, Healthcare, Transportation, Manufacturing, Media & Entertainment, and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
MARKET SEGMENTATION: BY REGION
The Global Data Monetization Market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
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North American is anticipated to have the largest market share of the worldwide market for data monetization due to the use of data by banks and other financial institutions in this region to promote new services and create net new income streams. due to the fact that there are important players nearby. Increased corporate need for automated decision-making processes, declining infrastructure costs, and technology improvements have had a significant influence on regional growth. However, Asia Pacific is anticipated to see the greatest growth rate throughout the projected period of the global data monetization market due to growing use of cloud, IoT, and big data solutions. Rapid e-commerce boom, growing manufacturing, the rise of the car sector, and more stringent regulations have all positively impacted regional growth.
DATA MONETIZATION MARKET: KEY PLAYERS
- Cisco Systems, Inc.
- Comviva Technologies Limited
- IBM Corporation
- Infosys Limited
- Optiva, Inc
- QlikTech International AB
- Salesforce, Inc.
- SAP SE
- Sisense Inc.
- ThoughtSpot Inc.
- TIBCO Software Inc.
- Virtusa Corp
DATA MONETIZATION MARKET: RECENT DEVELOPMENT
- January 2022- In order to assist telecom operators and service providers in expediting their digital transformations and migration to the private and public cloud, as well as edge deployment, Optiva established a long-term strategic agreement with Google Cloud.
- August 2021- A strategic relationship between Adastra and Payment Components has been established to provide Open Banking and Payments Capabilities in Canada and the USA.
DATA MONETIZATION MARKET: REPORT OVERVIEW
The scope of the report includes a detailed study of regional markets for Global Data Monetization Market. The Global Data Monetization market is segmented by Component, Deployment, Organization Size, Vertical, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Data Monetization Market.
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