PUBLISHER: SkyQuest | PRODUCT CODE: 1165246
PUBLISHER: SkyQuest | PRODUCT CODE: 1165246
Global Data Monetization Market was valued at USD 2.78 billion in 2021, and it is expected to reach a value of USD 10.9 billion by 2028, at a CAGR of 21.54% over the forecast period (2022-2028).
Data exchange between businesses is known as data monetization. It is the process of utilizing data to generate income or establish new sources of income. Direct and indirect data monetization are the two types of data monetization. Selling raw data is a kind of direct data monetization. In this case, businesses make money by selling the data directly. Selling a company's analysis, trading or bartering data, and developing one or more APIs are all examples of direct data monetization. Companies leverage their data to make a quantifiable impact in terms of indirect monetization. Indirect monetization benefits businesses in a number of ways, including cost reduction, increased productivity and efficiency, the creation of new goods or services, and the identification of new clientele or industry niches.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Data Monetization Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Data Monetization Market is segmented based on Organization Size, Method, Vertical, and Region. Based on Organization Size, it is categorized into SMEs and Large Enterprises. Based on Method, it is categorized into Data As A Service, Insight As A Service, Analytics-enabled Platform As A Service, Embedded Analytics. Based on Vertical, it is categorized into BFSI, IT & Telecom, E-commerce, Retail, Healthcare, Manufacturing Energy, Utilities, Others. Based on the region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Driver
The market is expected to grow because of a number of factors, including increasing enterprise data volume, awareness of data monetization, and external data sources. Additionally, the adoption of data-driven decision-making methodologies, improvements in big analytics, and increased utilization of artificial intelligence and data processing, among other factors, are anticipated to fuel growth over the forecast period.
Restraint
The development of the worldwide data monetization market is anticipated to be hampered by the fragmented structure of regulatory rules and privacy and security concerns. Additionally, cultural hurdles and a lack of organizational competencies may restrain the expansion of the worldwide market for data monetization.
Market Trends
The expansion of the worldwide data monetization market is anticipated to be aided by the increased use of data processing, AI (Artificial Intelligence), and data-driven decision-making methodologies. Since data monetization can optimize data usage, save operating expenses, increase customer loyalty, improve compliance, boost profitability, fortify alliances, and improve customer experience and understanding, certain businesses are drawn to it.