Increasing Adoption of Analytics and visualization Has Increased the Demand for Data monetization Market

Globally, the data monetization market is expected to grow with a CAGR of 19.6% during the forecast period from 2024 to 2032. Data monetization is defined as the data generated by the companies or organization, which are used to create economic benefits, or simply turning corporate data into currency. These currencies are in different forms of actual currency or data currency which are used as a means of exchange of data, product or services. Data monetization controls the data generated from different business operations, content, or from electronic devices and sensors, being used by the IoT devices.The rising rapid adoption of analytics and visualization by companies is one of the major factors driving the growth of the market across the globe. The increasing utilization of advanced analytics by various organizations to reduce the repeated, structured and unstructured data and allows the companies to extract useful information from it. Data monetization allows the company to reduce costs resulting in an increase in revenue.  

Data monetization with Customer Data in its Data Type Segment Continue Dominating the Market

In 2021, the customer data segment in its data type segment contributing to a high percentage of the market share of the total revenue generated globally in 2020 with a market share more than 30.0% and is expected to grow with a significant CAGR during the forecast period led the overall data monetization market. The increasing customer base of the companies and critical data shared among the industries associated with the clients is expected to drive the market.

North America Dominates the Market by Region

The global data monetization market was dominated by North America with a market share of than more 35.0% in the year 2020. The rising adoption of cloud-based systems, IoT devices, and other systems which generate a large amount of data and can be used as important information for various industries, therefore it is considered as one of the major factors driving the growth of the market in the region. Additionally, the presence of various BFSI, healthcare, IT and telecom industries present in the region is also contributing to the growth of the market.

Some of the prominent players operating in the data monetization are Accenture, Cisco, 1010data, Adastra, ALC, Dawex Systems, Elevondata, Emu Analytics, Gemalto, Google, IBM, Iconnectiva, Infosys, Mahindra Comviva, Monetize Solutions, And Narrative.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Data Monetization market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Data Monetization market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Data Monetization market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Data Monetization market?
• Which is the largest regional market for Data Monetization market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Data Monetization market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Data Monetization market worldwide?