USD 12.61 billion
Data Monetization Market Size, Share, Growth Analysis, By Component(Tools, Services [Support and Maintenance, Consulting, Implementation and Integration]), By Data type(Customer Data, Product Data, Financial Data, Supplier Data), By Business Function(Sales And Marketing, Supply Chain Management, Operations, Finance), By Deployment Type(Cloud, and On- Premises), By Organization Size(Large Enterprises, Small and Medium-sized Enterprises), By Industry Vertical(Banking, Financial Services, and Insurance, Telecommunication), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45C2059 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
95
|Figures:
76
Data Monetization Market Insights
Data Monetization Market size was valued at USD 6.8 billion in 2022 and is poised to grow from USD 7.53 billion in 2023 to USD 16.98 billion by 2031, growing at a CAGR of 10.70% during the forecast period (2024-2031).
Rapidly increasing volume of data around the world and growing digital transformation around the world are projected to bolster data monetization market growth. Rising awareness regarding the benefits of analytics and growing adoption of big data analytics around the world are also expected to create new opportunities for data monetization companies across the study period and beyond. Growing adoption of data-driven decision-making in organizations around the world and high investments in developing personalized customer experiences are also creating new business scope for data monetization companies going forward. Moreover, the use of artificial intelligence and machine learning is also bolstering the importance of data around the world, thereby favoring data monetization demand as well. On the contrary, high costs of data analytics infrastructure and complexity in data integration and management are slated to slow down data monetization market growth in the future.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Large Enterprises
Fastest Growth
SMES
Growth Rate
22.1% CAGR
Global Data Monetization Market ($ Bn)
Country Share for North America Region (%)
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Data Monetization Market Segmental Analysis
Global Data Monetization Market is segmented by component, Data Type, Business Function, Deployment Type, Organization Size, Industry Vertical, and region. Based on component, the market is segmented into Tools, and Services. Based on Data Type, the market is segmented into Customer Data, Product Data, Financial Data, Supplier Data. Based on Business Function, the market is segmented into Sales and Marketing, Supply Chain Management, Operations, Finance, and Others. Based on Deployment Type, the market is segmented into Cloud, and On-premises. Based on Organization Size, the market is segmented into Large Enterprises, and Small and Medium-sized Enterprises. Based on Industry Vertical, the market is segmented into Banking, Financial Services, and Insurance, Telecommunication, Consumer Goods and Retail, Information Technology, Healthcare, Manufacturing, Media and Entertainment, Transportation and Logistics, Energy and Utilities, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Data Monetization Market Analysis by Vertical
The banking, financial services, and insurance (BFSI) industry vertical is projected to spearhead the demand for data monetization around the world. Generation of highly important and crucial financial data from this industry and growing emphasis on improving business operations through rich data from this industry will also boost market growth. Providing personalized financial services is a major trend, which is also creating new business scope for data monetization companies. High demand for personalization of financial services will also open new avenues of opportunities for data monetization companies.
Meanwhile, the demand for data monetization in the IT and telecommunications industry is projected to surge at an impressive pace across the study period. Growing adoption of data-driven decision making in this industry verticals and growing volume of data generation are providing lucrative opportunities for data monetization companies going forward. Rapid digital transformation is also expanding the scope of IT and telecommunication industry thereby making it more lucrative for data monetization companies to invest in going forward. Increasing access to the internet for people in developing countries will also result in major hike in data generation for the telecommunication industry thereby improving the potential for data monetization as well.
Data Monetization Market Analysis by Component
Data monetization tools are projected to account for a dominant share of the global data monetization market. Data monetization tools help in collecting, structuring, and preparing data to be arranged in a proper format. These tools also help in providing proper monetization scope for data monetization companies and are essential in any data monetization process thereby helping the dominance of the said segment. Integration of artificial intelligence and other technologies to improve the capabilities of tools will also be a major trend that will help the high market share of this segment.
Meanwhile, the demand for data monetization is projected to increase at a rapid pace over the coming years. The growing need for outsourcing data services and the rising availability of novel data monetization services around the world are helping this segment generate good revenue. Increasing demand for support and proper execution of data monetization will also help boost market growth via this segment. Rising demand for outsourced data monetization for companies with limited spending potential will also create new opportunities for data monetization service providers in the long run.
Global Data Monetization Market By Component
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Data Monetization Market Regional Insights
North America is anticipated to account for a substantial share of the global data monetization market. High data generation and the presence of key data management companies has made this region a top spot for data monetization companies. Growing adoption of data-driven decision-making by organizations in this region will also help the dominance going forward. Canada and the United States will offer highly rewarding business opportunities for data monetization companies in the long run. The presence of multiple data centers in this region will also play a crucial role in promoting the demand for data monetization going forward.
Rapidly increasing digitization in the Asia-Pacific region sets the tone for it to become the most opportune market in the world. Increasing digitization, rising volume of data, and growing popularity of big data are some key factors that help this region provide rewarding opportunities for data monetization providers. Japan, India, and China are projected to bring in the most revenue for data monetization companies operating in this region. Growing awareness regarding the importance of data and adoption of data-driven decision-making are also expected to create new opportunities for data monetization providers.
Global Data Monetization Market By Region
- Largest
- Fastest
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Data Monetization Market Dynamics
Data Monetization Market Driver
Growing Data Generation
- Rapid digitization around the world has increased the volume of data generated as well. Advancements in analytics and changing business trends around the world have created new opportunities for data monetization companies.
Rise of Data-Driven Decision-Making
- Growing use of this massive volume of data in conjunction with advanced data analytics has boosted the adoption of data-driven decision-making around the world. Rising use of data in decision-making is also opening new pathways for data monetization companies.
Restraints
Complexity in Data Management and Integration
- Integrating and managing data is still a major challenge for almost all companies working with data, which also makes it a restraint for data monetization market growth as well. These issues in data integration and management could impede data monetization demand outlook in the future.
Lack of Standardization of Data Formats
- Data formats used across the world vary vastly and this irregularity in data formats is projected to diminish the scope of data monetization over the coming years. Gathering and monetizing data by unifying its data format could add up to the costs and reduce profitability of data monetization companies.
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Data Monetization Market Competitive Landscape
Data monetization providers should focus on providing their services to large organizations to maximize their business scope. High investments in the development of specific data monetization solutions for different industry verticals are also expected to offer lucrative returns for market players. Entering emerging markets and utilizing advanced technologies will also offer new opportunities for data monetization companies in the long run.
Data Monetization Market Top Player's Company Profiles
- Microsoft (US)
- Oracle (US)
- Salesforce (US)
- SAS (US)
- TIBCO Software (US)
- IBM (US)
- Qlik (US)
- SAP (Germany)
- ThoughtSpot (US)
- Sisense (US)
- Domo (US)
- Accenture (Ireland)
- Infosys (India)
- 1010data (US)
- Reltio (US)
- DataRobot (US)
- NETSCOUT (US)
- Adastra (Canada)
- Optiva (Canada)
- Comviva (India)
Data Monetization Market Recent Developments
- In April 2024, Carv, a modular data layer provider announced that it had raised USD 10 million to simplify data monetization for gamers. Tribe Capital and IOSG Ventures led this Series A funding round for Carv.
- In April 2024, SRC.ai announced the launch of a new application for data monetization in the Web3 space. The company aims to set new standards for the digital economy through its novel offerings and stand out in the future.
- In February 2023, a new data monetization accelerator program was launched to help companies unlock the full potential of their data. Synechron, a leading tech consulting organization, was behind this new launch as it focuses on driving innovation in the data industry.
Data Monetization Key Market Trends
- Use of Blockchain Technology: Data monetization companies should focus on using blockchain technology to improve their business scope and provide an additional layer of security and transparency for data. Furthermore, companies can also avoid tampering or compromising the integrity of their data as they use blockchain technology.
- Use of Ethical Data Monetization: Data monetization companies should also focus on adoption of ethical data monetization practices to ensure privacy of user data is maintained. Growing concerns regarding data ownership can also be resolved using ethical data monetization practices in the future. Complying with privacy regulations and practicing ethical data monetization will pay off big time for market players in the long run.
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 robust Secondary Desk research.
As per SkyQuest analysis, rapidly increasing digitization around the world and increasing volume of data generation are expected to drive the demand for data monetization on a global scale. However, variability in data formats and complexity in data management are slated to impede data monetization demand outlook in the future. North America is estimated to spearhead the global data monetization market growth owing to the rising demand for data-driven decision-making. Integration of blockchain technology is forecasted to create new opportunities for data monetization companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.8 billion |
| Market size value in 2031 | USD 16.98 billion |
| Growth Rate | 10.70% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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:-
|
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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 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 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 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 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 Data Monetization Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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.
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