Dublin, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The "Global Data Marketplace Platform Market Size, Share & Industry Trends Analysis Report by Component, Type, Enterprise size, Revenue Model, End-user, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Data Marketplace Platform Market size is expected to reach $3.5 billion by 2028, rising at a market growth of 24.3% CAGR during the forecast period.
Companies Mentioned
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Oracle Corporation
- SAP SE
- Microsoft Corporation
- Adobe, Inc.
- Snowflake, Inc.
- Nasdaq, Inc. (Quandl, Inc.)
- BattleFin
- Narrative I/O, Inc.
- Datarade GmbH
Organizations and businesses are starting to add external data to their internal data sets, which is boosting market expansion. It is a method of facilitating data exchange that is secure and effective, supports many data sharing models, and satisfies the needs of various data sets and customers.
It also makes it possible for businesses to share data via data marketplace platforms, spurring data-driven innovation and incorporating third-party providers into these marketplaces. They are also in charge of enhancing small and medium-sized businesses' competitiveness.
For most businesses, data and information are their most valuable assets. Organizations can utilize their data to enhance their operations, but their data also has substantial value outside of operations. Data marketplaces allow sellers to make money from their data while buyers can buy datasets to improve analytics and provide new services to customers. The majority of data marketplaces are cloud services where people or companies submit data to the cloud.
These solutions allow for self-service data access while maintaining both parties' security, and consistency, as well as good data quality. The development of Big Data is associated with the advent of data marketplaces. Organizations are beginning to view data as a valuable asset. Business organizations are producing more data, either internally or by web scraping and other means. Some of this information is useful to other businesses as well. Data markets help businesses make money out of their data.
COVID-19 Impact Analysis
The COVID-19 pandemic had a severe impact on the economy all over the world. A number of large as well as small and medium-sized businesses were demolished as a result of the outbreak.
However, the pandemic had a positive impact on the data marketplace platform market due to an increase in the usage of smart devices all over the world.
Due to the growing use of data services, growing use of IoT and web scraping, and developing usage of blockchain, with remote access data services in sectors, like IT, retail & e-commerce, BFSI, hotel, and media & entertainment, the COVID-19 pandemic had a positive impact on data services.
Market Growth Factors
Rapidly rising data volumes due to increasing penetration of technologies
With the increasing penetration of technologies all over the world, data volumes are constantly growing. The size of the data sets that a business has gathered for analysis and processing is referred to as the volume of data. These data sets are regularly observed in technology today pushing on the higher size of bytes, like terabytes and petabytes.
In contrast to traditional storage and processing capabilities, the increased volume of data typically necessitates distinct and diverse processing technologies. Moreover, the magnitude of the data sets inside big data makes it impossible to compute them using a standard laptop or desktop CPU. Hence, this factor is majorly boosting the growth of the data marketplace platform market.
The Increasing Significance Of External Data For Businesses
It is becoming increasingly clear how important external data is for both companies trying to buy and sell data. Data Capital refers to external data, an asset that has the capacity to change strategy and performance at several organizations and enterprises, much to how human and financial capital help firms to flourish.
The requirement for external data capital is growing as a significant number of businesses concur that they must use external data sourcing more frequently. Businesses can make better-informed judgments, improve their predictive models, increase efficiency, and maximize ROI by enhancing private data with outside ideas. This factor is augmenting the growth of the data marketplace platform market.
Market Restraining Factors
Lack Of Development And Advancements In This Sector
Data markets frequently fall short because they lack a method for adequately resolving crucial trust issues. They chose to ignore the particularities of data in favor of sticking with the traditional market paradigm. Certainly, a traditional marketplace is not the best model for facilitating transactions between data sources and customers.
Any market must also deal with problems that are intrinsic to the marketplace paradigm, such as commoditization, disintermediation, governance of inappropriate behavior, and the cold-start issue, all of which are potentially far more important when the asset is data. This factor is impeding the growth of the data marketplace platform market.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisitions and Mergers
3.2.4 Geographical Expansion
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Jun - 2022, Jul) Leading Players
Chapter 4. Global Data Marketplace Platform Market by Component
4.1 Global Platform (without Services) Market by Region
4.2 Global Services Market by Region
Chapter 5. Global Data Marketplace Platform Market by Type
5.1 Global B2B Market by Region
5.2 Global IoT Market by Region
5.3 Global Personal Market by Region
Chapter 6. Global Data Marketplace Platform Market by Enterprise size
6.1 Global Large Enterprises Market by Region
6.2 Global SME's Market by Region
Chapter 7. Global Data Marketplace Platform Market by Revenue Model
7.1 Global Subscription Market by Region
7.2 Global Commission Market by Region
7.3 Global Paid features Market by Region
7.4 Global Others Market by Region
Chapter 8. Global Data Marketplace Platform Market by End-user
8.1 Global Financial Services Market by Region
8.2 Global Healthcare & Life Sciences Market by Region
8.3 Global Advertising, Media & Entertainment Market by Region
8.4 Global Retail & CPG Market by Region
8.5 Global Technology Market by Region
8.6 Global Public Sector Market by Region
8.7 Global Manufacturing Market by Region
8.8 Global Others Market by Region
Chapter 9. Global Data Marketplace Platform Market by Region
Chapter 10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/s3undz-data?w=12
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