The global data monetization market size to grow at a CAGR of 21.7%
NEW YORK, Aug. 27, 2020 /PRNewswire/ -- The global data monetization market size to grow at a CAGR of 21.7% during the forecast period
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The global data monetizationmarket would grow from USD 2.3 billion in 2020 to USD 6.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.7% during the forecast period. The increase in the volume of data generation and lower cost of data storageis expected to be one of the strongest factors for data monetizationtools and services adoption across regions.
Cloud deployment modelis expected to grow at a higher CAGR during the forecast period
In recent times, due to the increased adoption of data-driven decision-making and advanced analytics, organizations have started to adopt data monetization solutions. SMEs are majorly moving toward the adoption of the cloud deployment type, due to its major benefits such as lower costs, no requirement of manpower for hardware maintenance, faster and efficient results, and complete flexibility and scalability, which result in reduced Operational Expenditure (OPEX) and CAPEX.
Telecommunication industry vertical to hold the highestmarket share in 2020
The telecommunication industry vertical is experiencing increased data generation due to the advancements in technologies such as 3G and 4G.The introduction of 5G technology in the near future is expected to generate a large volume of data.
It is a challenge for telecommunication providers to manage this data and retain the existing customers as well as enhance the customer experience.
North America to account for the largest market size during the forecast period
The global data monetization market by region covers 5 major geographic regions, namely, North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America.North America is expected to account for the largest market size during the forecast period due to the presence of a large number of data monetization vendors and increasing adoption of cloud-native technologies.
The focus of governments on adopting big data strategies to predict or identify business potential would drive the adoption of data monetization tools in North America.The US is one of the topmost countries in terms of the adoption of data monetization due to well-developed communication infrastructure, including 5G services.
For instance, The US federal government has announced a USD 1.9 million grant to Digital Coaching International that will guide small businesses on technology adoption in businesses.
• By Company: Tier 1–26%, Tier 2–22%, and Tier 3–52%
• By Designation: C-Level Executives–43%, Director Level–27%,and Others–30%
• By Region: North America–40%, Europe–28%,APAC–25%,and RoW – 7%
The data monetization market comprises major solution providers, such asMicrosoft (US), Salesforce (US),Oracle (US), SAP (Germany), SAS (US), Sisense Inc, (US), TIBCO Software (US), IBM (US), Qlik (US), Domo (US), Accenture (Ireland), Virtusa (US), Infosys (India), 1010DATA (US), Infor (US), Reltio (US), Paxata (US), OpenwaveMobilty (US), Monetize (US), Ness (US), NETSCOUT (US), Adastra (Canada), Optiva (Canada), Elevondata Labs Inc. (US), Emu Analytics (UK), Comviva (India), Narrative (US), ThoughtSpot (US), Looker (US), and Information Builders (US). The study includes an in-depth competitive analysis of key players in the data monetizationmarket with their company profiles, recent developments, COVID-19 developments and key market strategies.
Research Coverage
The data monetizationmarket revenue is primarily classified into revenues fromtoolsand services.Tools revenue is associated with data monetizationsoftware and solutions.
Further, services revenue is associated with integration and implementation, consulting,and support and maintenance. The market is also segmented on the basis ofdata type, business function, deployment type, organization size,industry vertical, and region.
Key benefits of the report
The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall data monetizationmarket and the subsegments. This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report would help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, opportunities, and COVID-19 impact
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