Pune, India, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The global data monetization market size stood at USD 2.60 billion in 2022. The market is set to expand from USD 2.99 billion in 2023 to USD 9.10 billion by 2030, exhibiting a CAGR of 17.2% over the estimated period. The rise can be credited to the growing use of data monetization techniques for revenue maximization and the enhancement of growth opportunities. Fortune Business Insights™ provide this information in its research report, titled “Data Monetization Market Forecast, 2023-2030”.
Key Industry Development:
August 2022 – Silverback United Inc. bought Headstart AI, a provider of data-driven recruitment and talent management software. The takeover improved the data analysis capabilities of Silverback.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 17.2% |
| 2030 Value Projection | USD 9.10 Billion |
| Base Year | 2022 |
| Data Monetization Market Size in 2022 | USD 2.60 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 170 |
| Segments covered | Application, Deployment, Enterprise Type, Industry and Geography |
Key Takeaways
- Data monetization market size in North America was USD 1.08 billion in 2022
- Major driving factors include big data, AI, IoT and embedded networks
- By Deployment, cloud segment holds the maximum market share
- Global demand is driven by the requirement of data driven analytical and governance platforms
- The BFSI sector will drive the market in the forecast period, 2023-2030
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Drivers and Restraints:
- Industry Value to Rise Due to Surging Practice of Data Collection and Data Generation
- One of the key factors impelling the data monetization market growth is the rising requirement for the maintenance of diverse types of data.
- Furthermore, several companies retail the analyzed data as Data as a Service (DaaS).
- However, the industry expansion could be hampered by talent management issues and lower availability of skilled workforce.
Segments:
Sales & Marketing Segment to Gain Traction Driven by the Adoption of Big Data Analytics
Based on application, the market is segmented into finance, sales & marketing, customer services, and others. The sales & marketing segment is poised to expand at a commendable pace over the analysis period. The surge is due to the deployment of Big Data analytics for the enhancement of customer experience.
Cloud Segment to Register Substantial Demand Owing to Rising Product Deployment
On the basis of deployment, the market is subdivided into cloud and on-premises. Of these, the cloud segment is expected to register considerable growth throughout the projected period. The rise can be credited to the growing usage of cloud services for enhancing the analysis of information assets.
Large Enterprises Segment to Record Appreciable Growth Due to Larger Data Resources
Based on enterprise type, the market is bifurcated into small and medium enterprises and large enterprises. Of these, the large enterprises segment is estimated to depict notable growth over the study period. The surge is driven by the implementation of data governance platform for the improvement of data management processes.
BFSI Segment to Exhibit Notable Expansion Owing to Availability of Vast Data Sources
On the basis of industry, the market is categorized into healthcare, BFSI, manufacturing, consumer goods and retail, IT and telecommunication, and others. The BFSI segment is estimated to register considerable expansion throughout the forecast period. The rise can be attributed to the vast amount of data collected from users regarding product sales, financial habits, and product preferences.
Based on geography, the market is classified into North America, Asia Pacific, Europe, South America, and the Middle East & Africa.
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Regional Insights:
North America to Lead Owing to Surging Deployment of Cloud-based Applications
The North America data monetization market share is expected to record commendable growth over the estimated period. The rise is being driven by the surging deployment of cloud-based applications and IoT devices.
The South America market is set to emerge as the second leading region over the projected period. The surge is impelled by the increasing investment in newer industries, which resulted in accelerated development toward cloud adoption and digitalization.
Competitive Landscape:
Leading Companies Introduce New Products to Gain Competitive Edge
Major industry participants are focused on the adoption of a series of strategic steps for strengthening their position in the market. These steps include merger agreements, acquisitions, and the development of new products. These initiatives are being undertaken to secure a competitive edge in the market.
List of Key Players Mentioned in the Report:
- Sisense Inc. (U.S.)
- Adastra Corporation (Canada)
- DOMO Inc. (U.S.)
- Tibco Software Inc. (U.S.)
- Talend Inc. (U.S.)
- Inzata (U.S.)
- Infosys Technologies Pvt. Ltd. (India)
- TASIL (Poland)
- Dawex Systems (France)
- Emu Analytics (U.K.)
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Major Table of Contents:
- Global Data Monetization Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Application (USD)
- Customer Service
- Sales and Marketing
- Finance
- Others (Human Resources, and Others)
- By Deployment (USD)
- On-premise
- Cloud
- By Enterprise Type (USD)
- Large Enterprises
- Small and Medium Enterprises
- By Industry (USD)
- BFSI
- Healthcare
- Consumer Goods and Retail
- Manufacturing
- IT and Telecommunication
- Others (Travel and Hospitality, Government, and Others)
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Data Monetization Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Application (USD)
- Customer Service
- Sales and Marketing
- Finance
- Others (Human Resources, and Others)
- By Deployment (USD)
- On-premise
- Cloud
- By Enterprise Type (USD)
- Large Enterprises
- Small and Medium Enterprises
- By Industry (USD)
- BFSI
- Healthcare
- Consumer Goods and Retail
- Manufacturing
- IT and Telecommunication
- Others (Travel and Hospitality, Government, and Others)
- By Country (USD)
- U.S.
- Canada
- Mexico
- South America Data Monetization Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Application (USD)
- Customer Service
- Sales and Marketing
- Finance
- Others (Human Resources, and Others)
- By Deployment (USD)
- On-premise
- Cloud
- By Enterprise Type (USD)
- Large Enterprises
- Small and Medium Enterprises
- By Industry (USD)
- BFSI
- Healthcare
- Consumer Goods and Retail
- Manufacturing
- IT and Telecommunication
- Others (Travel and Hospitality, Government, and Others)
- By Country (USD)
- Brazil
- Argentina
- Rest of South America
TOC Continued…!
FAQs
How big is the data monetization market?
The global data monetization market size was USD 2.60 billion in 2022. It is expected to reach USD 9.10 billion by 2030.
How fast is the data monetization market growing?
The data monetization algorithmic trading market will exhibit a CAGR of 17.2% during the forecast period, 2023-2030
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