Data monetization involves conversion of unstructured large volume of enterprise data into valuable insights and monetizing the data in to currency or exchange of service. The ability of data monetization to sort data in a raw format, store it in different structural formats, and subsequently release it for further analytics drive its demand among numerous industry verticals. It helps the organizations to increase revenue by investing in analytics platform, thus obtaining valuable insights from the unstructured data. An effectivity of its output is based on business factor, technology factor, and execution factor.
Continuous rise in the volume of enterprise data, technological advancements in big data &analytics solutions, and growth in importance to generate new revenue streams from the data volume of organizations drive the growth of the market. However, security and privacy concerns are expected to impede the market growth. Furthermore, increased adoption of data monetization among telecom service providers as well as rise in awareness about the potential benefits of data monetization offers a major opportunity for market expansion.
The data monetization market is segmented based on component, deployment type, enterprise size and industry verticals and region. Based on component, the market is burificated into software and service. By deployment type, it is divided into on-premises and cloud. On the basis of enterprise size, it is segmented into large enterprises and small and medium enterprises. By industry verticals, it is divided into BFSI, IT &telecommunication, retail & e-commerce, healthcare, manufacturing, media & entertainment, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global data monetization market is dominated by key players such as Accenture, SAP SE, Adastra Corporation, Monetize Solutions, Inc., VIAVI Solutions Inc., ALC, Reltio, Optiva, Inc. (Redknee Solutions Inc.), Cisco Systems, Inc., and Mahindra ComViva. These major players have adopted various key development strategies such as business expansion, new product launches, and others, which help to drive the growth of the global data monetization market.
Continuous rise in the volume of enterprise data, technological advancements in big data &analytics solutions, and growth in importance to generate new revenue streams from the data volume of organizations drive the growth of the market. However, security and privacy concerns are expected to impede the market growth. Furthermore, increased adoption of data monetization among telecom service providers as well as rise in awareness about the potential benefits of data monetization offers a major opportunity for market expansion.
The data monetization market is segmented based on component, deployment type, enterprise size and industry verticals and region. Based on component, the market is burificated into software and service. By deployment type, it is divided into on-premises and cloud. On the basis of enterprise size, it is segmented into large enterprises and small and medium enterprises. By industry verticals, it is divided into BFSI, IT &telecommunication, retail & e-commerce, healthcare, manufacturing, media & entertainment, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global data monetization market is dominated by key players such as Accenture, SAP SE, Adastra Corporation, Monetize Solutions, Inc., VIAVI Solutions Inc., ALC, Reltio, Optiva, Inc. (Redknee Solutions Inc.), Cisco Systems, Inc., and Mahindra ComViva. These major players have adopted various key development strategies such as business expansion, new product launches, and others, which help to drive the growth of the global data monetization market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the data monetization market analysis from 2021 to 2030 to identify the prevailing data monetization market share.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the data monetization market size assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global data monetization market size.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global data monetization market forecast, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Software
- Services
By Deployment Type
- On-Premises
- Cloud
By Enterprise Size
- Large Enterprises
- Small and Medium Sized Enterprises
By Industry Vertical
- BFSI
- IT Telecommunication
- Retail E-Commerce
- Healthcare
- Manufacturing
- Media Entertainment
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Accenture plc
- SAP SE
- Adastra Corporation
- Monetize Solutions, Inc.
- VIAVI Solutions Inc.
- ALC
- Reltio
- Optiva, Inc. (Redknee Solutions Inc.)
- Cisco Systems, Inc.
- Mahindra ComViva
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DATA MONETIZATION MARKET, BY COMPONENT
CHAPTER 5: DATA MONETIZATION MARKET, BY DEPLOYMENT TYPE
CHAPTER 6: DATA MONETIZATION MARKET, BY ENTERPRISE SIZE
CHAPTER 7: DATA MONETIZATION MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: DATA MONETIZATION MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Data Monetization Market,' the data monetization market was valued at $2.1 billion in 2020, and is estimated to reach $15.4 billion by 2030, growing at a CAGR of 22.1% from 2021 to 2030.Advancements in industrial-grade digital technology, increase in inclination toward cloud-based data monetization software, rise in need for improved supply chain, and customer relation management majorly contribute toward the growth of the market. However, lack of IT infrastructure in the underdeveloped nations and surge in security & privacy concerns hamper the growth of the data monetization market.
On the basis of industry vertical, the IT & telecommunication segment dominated the overall data monetization industry in 2020, and is expected to continue this data monetization market trends during the forecast period. Massive growth of the data in the telecommunication and IT sector and increase in need to generate other revenue streams through the data monetization services drive the growth of the market. However, the retail and E-commerce segment is expected to witness highest data monetization market growth. E-commerce players increasingly adopt data monetization solutions to sell the data or to join hands with brands to analyze the data and use it to generate additional revenue. Moreover, increase in focus of small and medium businesses toward the data monetization strategy to generate revenue streams fuels the data monetization industry. For instance, Chinese e-commerce behemoth focuses on collection of consumer data. In addition, companies, such as Google, Amazon, LinkedIn, and Netflix, are popular for monetizing information to generate revenue and gain market share.
Region wise, the data monetization market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to.the fact that banks and financial institutions in this region use data to sell new services by adding net new revenue streams through data monetization. Furthermore, Asia-Pacific region is subjected to grow at the fastest CAGR in the upcoming years. This is attributed to fact that telecom service providers have recognized the value of the collected data and thus have started to monetize the information to improve their profitability-per-user ratio by using data monetization, which majorly drives the market.
The emergence of COVID-19 has drastically affected different industries across the globe. Owing to lockdowns and restrictions during COVID-19 pandemic, industries such as aviation, automotive, tourism, oil& gas, education, and manufacturing experienced a fall in their market share. Owing to COVID-19 pandemic, many governments and FinTech industries have witnessed growth due to number of factors, including continuous rise in the volume of enterprise data, technological advancements in big data &analytics solutions, growth in importance to generate new revenue streams, security &privacy concerns, and others. Surge in awareness about the potential benefits of data monetization and increased adoption of data monetization among the service providers provide opportunities for the data monetization market share growth. However, each factor has its definite impact on the data monetization market size.
Key findings of the Study
- By component, the software segment generated the highest revenue in 2020.
- By deployment type, the on-premises segment generated the highest revenue in 2020.
- By enterprise Size, the large enterprises segment generated the highest revenue in 2020.
- By industry vertical, the IT and telecommunication segment dominated the data monetization market size in 2020. However, the retail & E-commerce segment segment is expected to exhibit significant growth during the data monetization market forecast period.
- Region wise, the data monetization market size was dominated by North America. However, Asia-Pacific is expected to witness significant on the data monetization market analysis in the coming years.
Companies Mentioned
- Accenture plc
- SAP SE
- Adastra Corporation
- Monetize Solutions, Inc.
- VIAVI Solutions Inc.
- ALC
- Reltio
- Optiva, Inc. (Redknee Solutions Inc.)
- Cisco Systems, Inc.
- Mahindra ComViva
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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