Dublin, March 16, 2023 (GLOBE NEWSWIRE) -- The "Data Monetization Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global data monetization market is expected to grow at a compound annual growth rate of 6.38% over the analyzed period to reach a market size of US$275.435 billion by 2027 from US$178.606 billion in 2020.
The rapid adoption of digitization of businesses, increase in the volume of data generated, huge investments by key players, and increasing adoption of AI for data processing are driving the market growth. Moreover, increasing adoption of cloud technology across various regions is anticipated to drive the overall market growth during the forecast period.
The governments of major countries are making efforts to increase the adoption of advanced technologies such as IoT, cloud computing, and AI which is projected to significantly contribute to market growth. For instance, the Government of India has launched "GI Cloud" (MeghRaj) to implement a governance mechanism to increase the use of cloud technology in the government sector of the country.
The government of the UK has signed a three-year agreement with AWS under which both will make efforts to increase cloud adoption across public organizations. Under this agreement, AWS will aid and training to enterprises that have initially adopted cloud deployment technology. This agreement is expected to generate a huge amount of data which is anticipated to have a positive impact on the overall market growth across the country.
Additionally, the adoption of technologies such as 5G, Edge computing, AI, the Internet of Things, and Machine learning is predicted to increase the demand for data tremendously and is projected to drive market growth. Moreover, rising investments in data center technology is correlated with the market growth.
For instance, Vantage has completed its acquisition of Etix to facilitate wholesale data center capacity delivery to help enterprise customers expand in Frankfurt. Google has come into partnership with Poland's Domestic Cloud Provider (DCP) and announced its plan to open a new cloud region in Poland to accelerate the adoption of cloud computing across Poland. The adoption of 5G continues to surge, and organizations and enterprises across the globe have started adopting 5G technology to improve their business growth.
One of the prime reasons supporting the growth of the overall market growth is the increasing adoption of cloud technology worldwide. The government of various countries is making huge efforts to increase the adoption of advanced technologies such as IoT, cloud computing and AI.
For instance, the government of Singapore has launched the Government Commercial Cloud Service that will introduce the innovations and capabilities of commercial cloud computing platforms to less sensitive government systems. Telecom providers in various developed nations are also adopting cloud technology for the growth of their businesses and to provide cloud services to end-users which will further boost the market growth during the forecast period. Additionally, the increasing shift of organizations towards the adoption of digital transformation is expected to drive the adoption of cloud computing services which in turn is anticipated to drive the overall market growth.
Moreover, the growing use of advanced technologies such as edge computing, AI and the Internet of Things, are further expected to drive the market growth.
For instance, as per the ITA, Canada is making a significant investment in Artificial Intelligence in its federal budget for 2021 the country has announced that it will invest $185 million to support the commercialization of AI research. The investments are made to support the Pan-Canadian Artificial Intelligence Strategy to $443.8 million over 10 years which is anticipated to have a positive impact on the overall market growth.
Additionally, rising internet penetration around the globe coupled with growing use of cloud computing will significantly drive the overall market growth. According to the data published by Internet Telecom Union the number of internet users in 2018 was 3.7 billion which has increased to 4.9 billion in 2021.
Growing penetration of internet globally is anticipated to generate huge data which will increase the demand for data monetization services. Moreover, the increase in online shopping and e-commerce trends have also led to an increase in monetization of analytical data and behavioral data of customers. Hence, with the rising modernization and smart technology trends, the data monetization market is anticipated to increase during the forecast period.
Market Segmentation:
By Offering
- Solution
- Service
By Deployment Model
- On-Premise
- Cloud
By Enterprise Size
- Small
- Medium
- Large
By End-User Industry
- Retail
- Manufacturing
- Automotive
- BFSI
- Media and Entertainment
- Others
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Others
- Middle East and Africa
- UAE
- Israel
- Saudi Arabia
- Others
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 152 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $178.61 billion |
| Forecasted Market Value (USD) by 2027 | $275.44 billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. DATA MONETIZATION MARKET BY OFFERING
6. DATA MONETIZATION MARKET BY DEPLOYMENT MODEL
7. DATA MONETIZATION MARKET BY ENTERPRISE SIZE
8. DATA MONETIZATION MARKET BY END-USER INDUSTRY
9. DATA MONETIZATION MARKET BY GEOGRAPHY
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
11. COMPANY PROFILES
Companies Mentioned
- C1010data
- Accenture
- Adastra
- Adstra
- Dawex Systems
- Elevondata
- EMU Analytics
- Gemalto NV
- Infosys
- Monetize
- IBM
- SAP
- SAS
For more information about this report visit https://www.researchandmarkets.com/r/aqthyd
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