PUBLISHER: Polaris Market Research | PRODUCT CODE: 1108706
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1108706
The global data monetization market size is expected to reach USD 12.22 billion by 2030, according to a new study by Polaris Market Research. The report "Data Monetization Market Share, Size, Trends, Industry Analysis Report, By Data (Customer, Product, Financial, Supplier); By Vertical; By Component; By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Data monetization is the method in which company-generated information is used to create a computable economic profit. This process helps businesses understand their revenue flow, whether it is increasing or reducing expenses. The companies adopting this monetization method create new partnerships by sharing their information with third parties in a mutually beneficial arrangement.
Further, it has been observed that certain companies release their information on open platforms and provide a free offering of information services to a sufficient number of outside companies. For instance, companies such as Google and Facebook were free platforms to create enormous information assets to sell worldwide. Therefore, monetization was a platform for sharing information between two companies to generate revenue or create new revenue-generating streams.
Factors such as enhanced decision-making that leads to real-time crowd-sourced research, improved profits, decreased costs, reduced risk, and improved compliance are the few factors driving the growth of the industry.
Further, the factors stimulating the growth of the industry are cost reduction, increase in revenue, and innovative opportunities for new information-related services such as IoT, digitalization, and developments in traditional technologies.
Data Monetization Market Report Highlights
The software segment holds the majority share of the market. It is expected to grow further over the forecast period owing to the increased use of business applications to enhance the company's capabilities and derive insights from the business data
Customer data accounted for the largest market share in 2021, accelerated by the increased usage of information for understanding customer decisions related to product design and pricing & guttering buying patterns
The telecommunication segment accounts for a significant market share due to massive information generation due to technological advancements over the last decade and in the near future
The Asia Pacific is expected to grow exponentially over the forecasted period on account of the growing adoption of advanced technologies, such as cloud computing and IoT
The industry is highly competitive owing to prominent industry players with a global presence, including Monetize Solutions, Inc., Oracle, Optiva, Inc., Reltio, and Virtusa
Polaris Market Research has segmented the data monetization market report based on form, product, application, and region:
Data Monetization, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Software
Services
Data Monetization, Data Outlook (Revenue - USD Billion, 2018 - 2030)
Customer
Product
Financial
Supplier
Data Monetization, Vertical Outlook (Revenue - USD Billion, 2018 - 2030)
BFSI
Telecom
Consumer Goods & Retail
Media & Entertainment
Manufacturing
IT
Transportation & Logistics
Energy & Utilities
Healthcare
Others
Data Monetization, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
List of Tables
Figure 1. Global Data Monetization Market, 2018 - 2030 (USD Billion)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top-Down & Bottom-Up Approach
Figure 4. Market by Geography
Figure 5. Porter's Five Forces
Figure 6. Market by Data
Figure 7. Global Data Monetization Market, by Data, 2021 & 2030 (USD Billion)
Figure 8. Market by Component
Figure 9. Global Data Monetization Market, by Component, 2021 & 2030 (USD Billion)
Figure 10. Market by Vertical
Figure 11. Global Data Monetization Market, by Vertical, 2021 & 2030 (USD Billion)
Figure 12. Data Monetization Market Assessment, By Geography, 2018 - 2030 (USD Billion)
Figure 13. Strategic Analysis - Data Monetization Market