According to the latest report by IMARC Group, titled “Data Monetization Market Report by Method (Data as a Service, Insight as a Service, Analytics-enabled Platform as a Service, Embedded Analytics), Organization Size (Large Enterprises, Small and Medium Enterprises), End Use (BFSI, E-commerce and Retail, IT and Telecommunications, Manufacturing, Healthcare, Energy and Utilities, and Others), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the global data monetization market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global data monetization market size reached US$ 3.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 14.4 Billion by 2032, exhibiting a growth rate (CAGR) of 16.6% during 2024-2032.
Data monetization refers to the process by which companies convert their collected data into economic value or revenue. This can be achieved through various means, including selling data directly, improving internal processes, enhancing product or service offerings, or even using the data to make more informed business decisions that lead to cost savings or increased revenue. It is about leveraging data as a strategic asset to generate tangible financial benefits. Businesses accumulate vast amounts of data from online interactions, IoT devices, customer transactions, and many other sources. Data monetization involves analyzing this raw data, extracting actionable insights, and then applying these insights in a way that creates monetary value. They must ensure that their data monetization strategies are transparent, secure, and respectful of customer privacy.
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Market Trends:
The rising enterprise need to gain deeper insights from collected data is driving the global market. Companies are leveraging advanced analytics, machine learning, and artificial intelligence to extract meaningful patterns, trends, and insights from their vast data reserves, transforming this information into actionable, monetizable products or services. Technological advancements are pivotal, providing the tools and platforms necessary for effective data monetization. The proliferation of cloud computing, big data analytics, and IoT devices has made data more accessible, manageable, and valuable than ever before.
These technologies enable businesses to aggregate, analyze, and share data at unprecedented scales, facilitating innovative monetization models, including data as a service (DaaS), insights as a service, and personalized marketing strategies. The growing emphasis on data-driven decision-making across various industries is also propelling the market.
By the IMARC Group, Some of the Top Competitive Landscape Operating in the Market are Given Below:
• 1010DATA (Advance Communication Corp.)
• Accenture Plc
• Adastra Corporation
• Comviva (Tech Mahindra)
• Infosys Limited
• International Business Machines Corporation
• Monetize Solutions Inc.
• Optiva Inc.
• Paxata Inc. (Datarobot Inc.)
• Reltio
• SAP SE
• Thales Group
• TIBCO Software Inc
Key Market Segmentation:
Breakup by Method:
• Data as a Service
• Insight as a Service
• Analytics-enabled Platform as a Service
• Embedded Analytics
Breakup by Organization Size:
• Large Enterprises
• Small and Medium Enterprises
Breakup by End Use:
• BFSI
• E-commerce and Retail
• IT and Telecommunications
• Manufacturing
• Healthcare
• Energy and Utilities
• Others
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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