The data monetization market is expected to grow from USD 1.42 Billion in 2018 to USD 3.12 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period, due to the growing usage of external data sources, advanced analytics, and visualization techniques to make insightful decisions from a large pool of data.
In addition, the increasing volume and variety of business data is expected to contribute to the growth of the market. Moreover, enterprises consider data monetization tool as an important part of creating insights from a large volume of data to improve the operational efficiency of organizations.
Rapidly changing competitive scenarios have encouraged enterprises to adopt data monetization tools to improve their operational efficiencies. The Banking, Financial Services, and Insurance (BFSI) industry vertical has a plethora of data that is gathered from various sources, such as capital markets, insurance, asset management, Automated Teller Machines (ATMs), and online transactions.
The ability to identify customer spending patterns and offer personalized products is expected to drive the demand for data monetization tools in the BFSI industry vertical. These are some of the key aspects that have contributed to the large-scale adoption of data monetization tools by the BFSI industry vertical. The BFSI industry vertical has been a major contributor, in terms of the revenue generated, in the data monetization market.
The customer data type segment is estimated to dominate the data monetization market in 2018. Customer data contains critical information pertaining to clients/customers, which helps organizations govern their operations and formulate their business plans. Customer data helps companies understand the buying patterns of customers and their decisions related to a product's design and pricing, with which companies can customize their product/service for their customers.
Key Topics Covered
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Market Scope 1.4 Years Considered for the Study 1.5 Currency 1.6 Stakeholders
2 Research Methodology 2.1 Research Data 2.1.1 Secondary Data 2.1.2 Primary Data 126.96.36.199 Breakdown of Primaries 188.8.131.52 Key Industry Insights 2.2 Market Size Estimation 2.3 Research Assumptions 2.4 Limitations
3 Executive Summary
4 Premium Insights 4.1 Attractive Market Opportunities in the Data Monetization Market 4.2 Market By Component 4.3 Market By Deployment Type 4.4 Market Top 3 Industry Verticals and Regions (2018) 4.5 Market By Organization Size
5 Market Overview and Industry Trends 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 184.108.40.206 Rapid Adoption of Advanced Analytics and Visualization 220.127.116.11 Increasing Use of External Data Sources 18.104.22.168 Increasing Adoption of Data-Driven Decision-Making 22.214.171.124 Increasing Volume and Variety of Business Data 5.2.2 Restraints 126.96.36.199 The Varying Structure of Regulatory Policies 188.8.131.52 Organizational Capabilities and Culture 5.2.3 Opportunities 184.108.40.206 Increasing Need to Create Insights From A Pool of Data 220.127.116.11 Increasing Adoption of AI for Data Processing 5.2.4 Challenges 18.104.22.168 Privacy and Security Aspects 22.214.171.124 Increasing Complexities in Data Structures 5.3 Industry Trends 5.3.1 Data Monetization Use Cases 126.96.36.199 Use Case 1: Telecommunication 188.8.131.52 Use Case 2: Media and Entertainment 184.108.40.206 Use Case 3: BFSI 220.127.116.11 Use Case 4: Automobile 18.104.22.168 Use Case 5: Telecommunication
6 Data Monetization Market, By Component 6.1 Introduction 6.2 Tools 6.3 Services 6.3.1 Consulting 6.3.2 Support and Maintenance 6.3.3 Implementation
7 Market By Data Type 7.1 Introduction 7.2 Customer Data 7.3 Product Data 7.4 Financial Data 7.5 Supplier Data
8 Data Monetization Market, By Business Function 8.1 Introduction 8.2 Sales and Marketing 8.3 Supply Chain Management 8.4 Operations 8.5 Finance 8.6 Others
9 Market By Deployment Type 9.1 Introduction 9.2 Cloud 9.3 On-Premises
10 Data Monetization Market, By Organization Size 10.1 Introduction 10.2 Large Enterprises 10.3 Small and Medium-Sized Enterprises
11 Data Monetization Market, By Industry Vertical 11.1 Introduction 11.2 Banking, Financial Services, and Insurance 11.3 Telecom 11.4 Consumer Goods and Retail 11.5 Media and Entertainment 11.6 Government and Defense 11.7 Manufacturing 11.8 Transportation and Logistics 11.9 Energy and Utilities 11.10 Healthcare 11.11 Others
12 Data Monetization Market, By Region 12.1 Introduction 12.2 North America 12.2.1 United States 12.2.2 Canada 12.3 Europe 12.3.1 United Kingdom 12.3.2 Germany 12.3.3 France 12.3.4 Rest of Europe 12.4 Asia Pacific 12.4.1 Australia and New Zealand 12.4.2 China 12.4.3 Japan 12.4.4 Singapore 12.4.5 Rest of APAC 12.5 Middle East and Africa 12.5.1 Kingdom of Saudi Arabia 12.5.2 United Arab Emirates 12.5.3 South Africa 12.5.4 Rest of Mea 12.6 Latin America 12.6.1 Brazil 12.6.2 Mexico 12.6.3 Rest of Latin America
13 Competitive Landscape 13.1 Overview 13.2 Market Ranking 13.3 Competitive Scenario 13.3.1 New Product Launches/Upgradations 13.3.2 Mergers and Acquisitions 13.3.3 Partnerships, Agreements, and Collaborations
14 Company Profiles 14.1 Introduction 14.2 1010data 14.3 Accenture 14.4 Adastra 14.5 ALC 14.6 Cisco 14.7 Dawex Systems 14.8 Elevondata 14.9 Emu Analytics 14.10 Gemalto 14.11 Google 14.12 IBM 14.13 Iconnectiva 14.14 Infosys 14.15 Mahindra Comviva 14.16 Monetize Solutions 14.17 Narrative 14.18 NESS 14.19 NETSCOUT 14.20 Openwave Mobility 14.21 Optiva 14.22 Paxata 14.23 Reltio 14.24 SAP 14.25 SAS 14.26 Virtusa