Data Monetization Market By Component (Tools, Services, Consulting, Others), By Data Type (Customer Data, Product Data, Financial Data, Supplier Data), By Business Function (Sales And Marketing, Operations, Finance, Others), By Deployment (Cloud, On-Premises), By Organization Size (Large Enterprises, SMEs), By Industry Vertical (Telecom, Consumer Goods And Retail, Government And Defense, Manufacturing, Healthcare, Others) - Growth, Future Prospects, And Competitive Analysis, 2019 – 2027

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 2019 to 2027 and registered a market value of US$ 1.80 Bn in 2018. Data monetization is the data companies or organizations generate to create economic benefits or turn 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, products, or services. Data monetization controls the data generated from different business operations, content, or electronic devices and sensors being used by 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 reduces the repeated, structured, and unstructured data and allows companies to extract useful information from it. Data monetization allows the company to reduce costs increasing revenue. 

Market Synopsis

Data monetization with Customer Data in its Data Type Segment Continues to Dominate the Market.

In 2018, the customer data segment in its data type segment contributed to a high percentage of the market share of the total revenue generated globally 2018 with a market share of more than 30.0% and was 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 more than 35.0% in 2018. The rising adoption of cloud-based systems, IoT devices, and other systems generates a large amount of data and can be used as important information for various industries. Therefore it is considered one of the major factors driving the market growth in the region. Additionally, the presence of various BFSI, healthcare, IT, and telecom industries in the region contributes to the market's growth.

Some prominent players operating in data monetization are iConnectiva, Infosys Limited, Mahindra Comviva, 1010data, Accenture Plc, Adastra, ALC, Cisco Systems, Inc., Dawes Systems, Elevondata, Emu Analytics, Gemalto, Google LLC, IBM Corporation, and Monetize Solutions Inc.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The data monetization market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global data monetization market based on component, data type, business functions, deployment, organization size, industry vertical, and geography.

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