A recent report published by Infinium Global Research on the data monetization market provides an in-depth analysis of segments and sub-segments in the global as well as regional data monetization market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional data monetization market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global data monetization market. According to the report, the global data monetization market is projected to grow at a CAGR of 17.8% over the forecast period of 2020-2026.
Nowadays, data is the most precious asset for numerous enterprises. Leveraging technologies such as big data and analytics are now being considered important by market players of the data monetization market to monetize their assets. Data monetization leverages the data generated from different business operations. The process of remodeling a large amount of enterprise data into valuable insights, and monetizing the data into money or exchange of service is known as data monetization. Data monetization uses tools and services to provide significant data that adds value to enterprise data. These tools enable enterprises to fulfill consumers’ needs by understanding their buying behavior and preferences. These tools and services also help to improve the customer experience.
Rapidly growing data and technological advancements in big data & analytics solutions are driving the market. The increase in volume, variety, and velocity of data is expected to provide several opportunities for enterprises. The rising significance of external data sources has led to pleasing developments in the market. These external data sources would ultimately help companies to add on a competitive advantage over their rivals. High adoption of technologically advanced solutions, analytics, and visualization is boosting the market. The high adoption of data monetization by several companies is influencing the favorable growth of the market globally. Data monetization is a generic term that covers the extra revenue an organization generates from its customer information. It is expected to be critical to an organization's operations as it focuses on increasing services, supporting client service, and reduced turnover. The issues related to data security and data integrity are the major factors affecting the growth of the market. A large amount of data is gathered from various external data sources. These data sources generate a large amount of unstructured and semi-structured data. When this data is combined and processes, it impacts the data integrity, security, and quality. Moreover, the lack of awareness about the potential benefits of data monetization is another restraint in the growth of the market. The vertical telecom sector is experiencing an increase in data production due to advances in technologies like 3G and 4G. The establishment of 5G technology in the near future should lead to a high volume of data. It's an obstacle for telecom providers to manage that data and keep existing customers and improve the customer experience. The effects of COVID-19 have been quick and substantial on global data monetization. The pandemic has resulted in being a major disrupter, shifting the global dynamics. Manufacturing companies around the world are now focusing on developing plans to reduce the aftershocks of this pandemic. The pandemic has led to large-scale distress to supply bases, assembly plant closures, and further downshift to the declining consumer demand.
The North American region accounted for the largest market share. This region is identified as the major adopter of emerging technologies such as big data analytics, IoT, and BI tools. The Asia Pacific and European regions have the fastest-growing market. The growing adoption of cloud-based enterprise applications and growing technological advancement are influencing the market growth in the Asia Pacific and Europe. Furthermore, the increasing amount of data, investments in the market and rising penetration of the internet is propelling the market growth.
The report on the global data monetization market covers segments such as end user. On the basis of end user, the sub-markets include e commerce and retail, healthcare, energy and utility, BFSI, manufacturing, and others.
The report provides profiles of the companies in the market such as SAP SE, Accenture, Monetize Solutions Inc, Adastra Corporation, Cisco Systems Inc., Emu Analytics, Elevondata, Gemalto, Google LLC, and IBM Corporation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the data monetization market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.