The North America Data Monetization Market is expected to witness market growth of 23.8% CAGR during the forecast period (2024-2031).
The US market dominated the North America Data Monetization Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $4.72 billion by 2031. The Canada market is experiencing a CAGR of 25.2% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 25% during 2024-2031.
Data has emerged as one of the most valuable assets for organizations across industries. These monetization refers to leveraging data to create economic value by improving internal operations or transforming it into a revenue-generating product or service. As businesses increasingly recognize the power of data, this market has witnessed significant growth, fuelled by technological advancements, evolving business models, and a growing appetite for data-driven insights.
This market encompasses various strategies and approaches, from direct monetization - such as selling raw or processed data - to indirect monetization, where data enhances operational efficiency or informs strategic decisions. Organizations are tapping into vast reservoirs of structured and unstructured data from customer interactions, IoT devices, social media, and operational systems.
In Mexico, the rapid expansion of the e-commerce sector is a key driver of this monetization. The country ranked among the top five globally for e-commerce retail growth in 2022, with the market reaching a value of $26.2 billion - 23% higher than in 2021. The number of e-commerce users also grew significantly, rising by 5.5 million to reach 63 million. This digital boom generates massive amounts of consumer data, which businesses leverage for personalized marketing, fraud detection, and demand forecasting. Likewise, in Canada, the government’s investment of $196.1 billion over ten years to improve healthcare services, including $46.2 billion in new funding, is expected to drive data monetization in the healthcare sector. With an increasing focus on digital health records, AI-powered diagnostics, and telemedicine, healthcare providers are generating and utilizing vast amounts of patient data. This data is monetized through predictive analytics, personalized treatment recommendations, and operational efficiency improvements. Hence, the rapid growth of Mexico’s e-commerce sector, Canada’s rising healthcare investments, and the dominance of the U.S. IT industry are collectively fuelling the expansion of the market in North America.
The US market dominated the North America Data Monetization Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $4.72 billion by 2031. The Canada market is experiencing a CAGR of 25.2% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 25% during 2024-2031.
Data has emerged as one of the most valuable assets for organizations across industries. These monetization refers to leveraging data to create economic value by improving internal operations or transforming it into a revenue-generating product or service. As businesses increasingly recognize the power of data, this market has witnessed significant growth, fuelled by technological advancements, evolving business models, and a growing appetite for data-driven insights.
This market encompasses various strategies and approaches, from direct monetization - such as selling raw or processed data - to indirect monetization, where data enhances operational efficiency or informs strategic decisions. Organizations are tapping into vast reservoirs of structured and unstructured data from customer interactions, IoT devices, social media, and operational systems.
In Mexico, the rapid expansion of the e-commerce sector is a key driver of this monetization. The country ranked among the top five globally for e-commerce retail growth in 2022, with the market reaching a value of $26.2 billion - 23% higher than in 2021. The number of e-commerce users also grew significantly, rising by 5.5 million to reach 63 million. This digital boom generates massive amounts of consumer data, which businesses leverage for personalized marketing, fraud detection, and demand forecasting. Likewise, in Canada, the government’s investment of $196.1 billion over ten years to improve healthcare services, including $46.2 billion in new funding, is expected to drive data monetization in the healthcare sector. With an increasing focus on digital health records, AI-powered diagnostics, and telemedicine, healthcare providers are generating and utilizing vast amounts of patient data. This data is monetized through predictive analytics, personalized treatment recommendations, and operational efficiency improvements. Hence, the rapid growth of Mexico’s e-commerce sector, Canada’s rising healthcare investments, and the dominance of the U.S. IT industry are collectively fuelling the expansion of the market in North America.
List of Key Companies Profiled
- Accenture PLC
- Cisco Systems, Inc.
- Salesforce, Inc.
- IBM Corporation
- Infosys Limited
- SAP SE
- Oracle Corporation
- Google LLC (Alphabet Inc.)
- Microsoft Corporation
- Siemens AG
Market Report Segmentation
By Organization Size
- Large Enterprises
- SMEs
By Method
- Analytics-enabled Platform as a Service
- Embedded Analytics
- Insight as a Service
- Data as a Service
By Vertical
- BFSI
- Telecommunications & IT
- Manufacturing
- E-commerce & Retail
- Energy & Utilities
- Healthcare
- Other Vertical
By Component
- Tools
- Implementation & Integration
- Services
- Consulting
- Supporting & Maintenance
- Research & Development
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Data Monetization Market by Organization Size
Chapter 6. North America Data Monetization Market by Method
Chapter 7. North America Data Monetization Market by Vertical
Chapter 8. North America Data Monetization Market by Component
Chapter 9. North America Data Monetization Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Accenture PLC
- Cisco Systems, Inc.
- Salesforce, Inc.
- IBM Corporation
- Infosys Limited
- SAP SE
- Oracle Corporation
- Google LLC (Alphabet Inc.)
- Microsoft Corporation
- Siemens AG
Methodology
LOADING...
