Data Monetization Market is valued at USD 1.34 Billion in 2018 and expected to reach USD 4.15 Billion by 2025 with the CAGR of 17.53%over the forecast period.
Increasing use of external data sources, constant rise in the volume of enterprise data and technological advancements in big data & analytics solutions are the major factors stimulating the growth of the global data monetization market.
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Market Analysis of Data Monetization-
Data monetization is the process of transforming large amounts of unstructured corporate data into valuable information to gain economic value or exchange services. Data monetization involves using data assets to create value for the organization. Monetization can be done in two ways: indirect and direct. The large amount of data that is generated is packaged into data products and sold which is called direct monetization or processed to extract information which is called indirect monetization. The data monetization tool incorporates big data and analytics, allowing companies to monetize data generated by various services (such as sales and marketing, supply chain management, operations and finance). Data monetization increases the value of data, optimizes the use of data and maximizes its value potential. Data monetization strategies can increase overall productivity and create a competitive advantage in the market. Data monetization is really helpful for organizations to reduce costs or increase the revenue by investing in an analytics platform which can convert unstructured data into a valuable information in real-time data streams. For example, a telecommunications company with a lot of information may sell the data by turning it into valuable information, or it may charge a fee for the ability to access and analyze the data.
Key Players -
Some major key players for global Data Monetization market are 1010data, Accenture, Adastra, Cisco, Dawex, Elevondata, Emu Analytics, Gemalto, Google, IBM, iConnectiva, Infosys, Mahindra Comviva, Monetize Solutions, Narrative, NESS, NETSCOUT, Openwave Mobility, Optiva, Paxata , Reltio, SAP, SAS, and Virtusa and others.
Global Data Monetization market is segmented on the basis of method, deployment, data type, end user and region. Based on the deployment, the market is segmented into cloud and on-premises. Based on the method, the market is segmented into direct and indirect. Based on data types, the market is segmented into customer data, product data, financial data and supplier data. Based on end user, the market is segmented into BFSI, e-commerce & retail, telecommunication & it, manufacturing, healthcare, energy & utilities and others.
Data Monetization is refer to a positive and measurable impact on business revenue by using data effectively. There are many ways to utilize data that can impact costs or revenue. The two types of data monetization are direct monetization that refers to more than selling users raw data. And monetization indirect this data monetization desires user to think about data as a strategic asset in new ways. The role of data and data analytics has grown and become more important in the eyes of organizations now days. Data monetization has increased with trends like big data and the IOT. Additionally, C-level executives carry on recognizing the value of data, and as the world continues to be instrumented real-time analytics, data will helps to booming business.
The regions covered in this Data Monetization Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Data Monetization is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Major factors driving the global data monetization market are use of data in various ways to enhance the business such as to advanced analytics and visualization, increasing use of external data sources, increasing adoption of data-driven decision-making and increasing volume in variety of business. The ability to use and monetized data to help almost in every type of business provides strength to the market. Therefore, driving value from data must now be expected as part an overall business strategy such used of data in various businesses is becoming trend to get a deep knowledge of the market such factor drives the market growth. However, some factors such as improper implementation of security protocols may cause data and security theft may restrain the market growth. Moreover, some advance technology to collecting data may provide opportunity for the further growth of the market.
Tools, Services, Support and maintenance, Consulting, Implementation
By Deployment Type:
By Industry Vertical:
Banking, Financial Services, and Insurance (BFSI), Telecom, Consumer goods and retail, Media and entertainment, Government and defense, Manufacturing, Transportation and logistics, Energy and utilities, Healthcare, Others
Asia pacific is expected to Witness a Fastest Growth in the Global Data Monetization Market
North America has been the market leader so far and is expected to remain dominant in future in the global data monetization market majorly due to the large number of technologically advanced solutions and the growing volume of corporate data across vertical sectors in various sectors, coupled with the tendency of people to adopt advanced data-driven business strategies. As per IDC, United states are the largest country in terms of big data with revenue of around 200 US dollar, which is almost equal to combination of next 4 countries in the list. The amount of data created by US companies alone each year is enough to populate 10,000 congressional libraries. The Asia-Pacific region is expected to achieve the fastest growth rate, as in many large consumer markets such as China and India, people are increasingly focusing on improving customer coverage and increase brand loyalty. The use of data monetization has brought new growth opportunities to organizations. Data monetization providers work with multiple industries to provide their customers with professional information and services.
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