Data Monetization Market Size Worth $7.34 Billion By 2027 | CAGR: 24.1%: Grand View Research, Inc.
SAN FRANCISCO, Sept. 8, 2020 /PRNewswire/ -- The global data monetization market size is expected to reach USD 7.34 billion by 2027, registering a CAGR of 24.1% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Data monetization is a strategy used by several organizations to increase their revenue. It is the process of utilizing data to obtain quantifiable economic benefits. There are two types of data monetization techniques, direct data monetization, and indirect data monetization.
Key suggestions from the report:
- SMEs are anticipated to expand at a CAGR of over 30% from 2020 to 2027. Rising demand for BI has significantly impacted the adoption of data monetization amongst SMEs
- The insight as a service segment is anticipated to expand at a CAGR of over 20% from 2020 to 2027. This is attributable to the ability of the method to combine external and internal data sources and use analytics to provide insights to customers
- The manufacturing segment was valued at over USD 200.0 million in 2019 and is expected to exceed USD 1,300.0 million by 2027, expanding at a CAGR of over 24% from 2020 to 2027. This is attributed to the rising usage of data monetization in the automotive industry
- For instance, in the automotive industry, data monetization ensures several benefits, such as tracking in case of real-time diagnostics and predictive maintenance. Technological advancements and increased digitalization resulted in easy tracking of vehicle performance. The implementation of IoT, telematics, and automation is also expected to increase the market demand in the industry.
Read 120 page research report with ToC on "Data Monetization Market Size, Share & Trends Analysis Report By Organization Size, By Method (Analytics-enabled Platform As A Service, Embedded Analytics), By Vertical, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/data-monetization-market
There are several types of data monetization methods wherein organizations use data to discover new customers and business opportunities. These data monetization methods are data as a service, insight as a service, analytics-enabled platform as service, and embedded analytics. The analytics-enabled platform as a service method is anticipated to witness significant growth as it provides real-time access to data on the cloud along with consistent triggers/alerts.
Data monetization is expected to be a catalyst for several brands as it enables them towards becoming a pioneer in data-driven principles. It creates new revenue streams for organizations. Additionally, it also promotes companies to reduce operating costs and overall general expenses and enables them to take adequate actions in improving their sales. Several end-use industries have leveraged the benefits of data monetization, and many more are moving towards data monetization.
For instance, data monetization offers geofencing and geotargeting in the retail and tourism industries. For the healthcare sector, government, and advertisement agencies, it ensures density planning and traffic flow. Similarly, it provides fraud detection for credit card companies and financial institutes. It offers smart targeting, Internet of Things (IoT), click-stream insights for digital and brand advertisers, and several other companies. Such factors are anticipated to power market growth over the forecast period.
However, factors such as data security and privacy, rising complexities in data structures, and varying regulatory policies are anticipated to hinder the market growth over the forecast period. Nevertheless, data monetization is capable of identifying and mitigating risk, improving compliance, streamlining planning and decision making, and creating a competitive advantage in the market. It has significantly shadowed market hindering factors and has enabled organizations to take adequate measures.
Grand View Research has segmented the global data monetization market on the basis of organization size, method, vertical, and region:
- Data Monetization Organization Size Outlook (Revenue, USD Million, 2016 - 2027)
- Large Enterprises
- SMEs
- Data Monetization Method Outlook (Revenue, USD Million, 2016 - 2027)
- Data as a Service
- Insight as a Service
- Analytics-enabled Platform as a Service
- Embedded Analytics
- Data Monetization Vertical Outlook (Revenue, USD Million, 2016 - 2027)
- BFSI
- E-commerce & Retail
- Telecommunications & IT
- Manufacturing
- Healthcare
- Energy & Utilities
- Others
- Data Monetization Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- The Middle East & Africa
- List of Key Players of Data Monetization Market
- Accenture Plc.
- Adstra
- Cisco Systems, Inc
- Gemalto NV
- IBM Corporation
- Infosys Limited
- Comviva
- Monetize
- Reltio
- SAP SE.
Find more research reports on Next Generation Technologies Industry, by Grand View Research:
- Integration Platform as a Service Market– The global Integration Platform as a Service market size was valued at USD 575.0 million in 2016. It consists of cloud technologies as cloud storage, cloud computing, and other internet technologies.
- Data Preparation Tools Market – The global data preparation tools market size was valued at USD 1.10 billion in 2016 and is anticipated to grow at a CAGR of 25.1% from 2017 to 2025.
- Data Classification Market – The global data classification market size accounted for USD 520.2 million in 2018 and is projected to exhibit robust CAGR of 25.7% over the forecast period.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article