Enjoy complimentary customisation on priority with our Enterprise License!
The global data monetization market size is projected to reach a value of USD 4,184.81 million, with an accelerated CAGR of 19.57% between 2022 and 2027. The growth of the market depends on several factors, including the high adoption of data monetization by various platforms, the emergence of data-driven business models, and the growing demand for tailored solutions. This market research and growth report inludes in-depth analysis of the key market drivers, trends, and challenges during the forecasted period.
To learn more about this report, View Report Sample
The high adoption of data monetization by various platforms is significantly driving market growth. It has gained momentum in the business world across several industries due to the recognition of the benefits of implementing data-driven decisions for business growth and advantage. For instance, the vast data collected by retail and e-commerce businesses including purchase history, browsing behavior, and demographic information help understand customer preferences and create targeted marketing campaigns.
Various other industries including the automotive and the healthcare market as well can utilize raw customer data and by acting upon insights can enhance customer engagement and loyalty. Hence, due to all these factors, the shift towards data monetization in retail and e-commerce will increase and boost the growth of the market during the forecast period.
Digital transformation of business is a major trend influencing market growth. The ongoing digital revolution in various sectors like BFSI, automotive, and more is generating massive data volumes. Businesses are embracing digital tools, IoT devices, social media, and other online platforms to engage with customers and gather data. This data abundance presents monetization opportunities and added value.
Cloud computing facilitates cost-effective storage and processing of large data volumes, empowering businesses to explore monetization avenues through analysis and offering data-driven products/services. The ability to gather, analyze, and act on data is becoming a competitive edge, fueling demand for data monetization solutions and driving market growth and trends.
Monetizing data analytic involves sharing or selling data assets, which increases the risk of data breaches and unauthorized access. Data privacy regulations, such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), impose strict requirements on how organizations collect, store, process, and share personal data.
Additionally, one of the challenges is the lack of awareness among end-users. Many individuals may not fully understand the value of their data or the potential risks associated with its monetization. This lack of awareness can hinder the adoption and acceptance of the initiatives. Organizations must continuously navigate complex legal frameworks to ensure compliance while attempting to monetize their data assets to overcome the challenges.
The market share growth by the solution segment will be significant during the forecast period. There has been an exponential increase in data volume through customer interactions, IoT devices, and social media. Businesses can gain actionable insights that provide direct solutions to existing business problems that can result in further business growth.
Get a glance at the market contribution of various segments View Free PDF Sample
The solution segment showed a gradual increase in the market share of USD 847.05 million in 2017 and continued to grow by 2021. Moreover, rapid advancements such as big data analytics, artificial intelligence, machine learning, automotive data, and cloud computing have helped companies such as Walmart and Amazon push personalized marketing campaigns and targeted recommendations. Price optimization and improved inventory management are also other factors that will boost the growth of the global market in focus during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 33% to the growth of the global market during the forecast period. In this market growth analysis report, Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Various technology companies, startups and venture capital firms, and industries in North America including BFSI, retail, and e-commerce have largely expanded their data infrastructure. They possess highly sophisticated data collection and storage capabilities which help foster innovation in the field of data-driven services. This contributes to the rapid and robust integration in North America.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Salesforce Inc. - The company offers a data studio which creates richer audiences for marketers, takes control of the data, and increases revenue with data.
Ciena Corp. - The company offers such as inconsistent fiber access, a new cloud business ecosystem, and internal complexity and cost.
CoreSite Realty Corp. - The company offers a hybrid IT infrastructure with high-performance colocation, interconnected data center campuses, and cloud onramps.
The market trends and analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
The global market is thriving, with enterprises increasingly leveraging both internal monetization and external monetization strategies. With data insights becoming a valuable asset, businesses are exploring avenues like data sharing and raw data sales. Artificial Intelligence (AI) and edge computing software architecture play pivotal roles in harnessing data's potential. Ensuring data governance is crucial, as highlighted by Melbourne Business School and Baker McKenzie.
Effective data valuation guides enterprises in maximizing return on investment (ROI). Skilled workforce development is essential, particularly in sectors like customer service, sales and marketing, finance, and human resources. Cloud services and data lakes are facilitating data management for large enterprises and SMEs across various industries, including consumer goods, IT, telecommunication, travel, hospitality, and government sectors. Notable examples include Fidelity Investments and New Mexico’s Presbyterian Healthcare Services. E-commerce websites are capitalizing on media statistics to enhance their operations and drive business expansion.
The market report forecasts market covers by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Data Monetization Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.57% |
Market growth 2023-2027 |
USD 4,184.81 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
19.09 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 33% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accenture Plc, Ciena Corp., Cisco Systems Inc., CoreSite Realty Corp., Equinix Inc., Extreme Networks Inc., Fujitsu Ltd., Huawei Technologies Co. Ltd., Infosys Ltd., International Business Machines Corp., Juniper Networks Inc., Microsoft Corp., Nokia Corp., NTT Corp., Oracle Corp., Salesforce Inc., SAP SE, SAS Institute Inc., TIBCO Software Inc., and Viavi Solutions Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market growth and forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Platform
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.