Covina, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Prophecy Market Insights has published a new research report titled “The Data Monetization Market accounted for US$ 2.02 billion in 2020 and is estimated to be US$ 15.84 billion by 2030 and is anticipated to register a CAGR of 22.8%.”
What is Data Monetization? How Big It is Data Monetization Market Size and Share?
Overview:
Data monetization is the process of converting raw data or information into revenue or business value. It involves the extraction, analysis, and utilization of data to generate income, improve operational efficiency, or create new business opportunities. This concept has gained prominence with the advent of big data and the recognition of data as a valuable asset.
The amount of data produced globally is still increasing tremendously. There is a wealth of data that may be tapped for monetization due to the growth of IoT devices, social media, and digital transactions. This trend is expected to continue, providing ample opportunities for Data Monetization Market.
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Some of the Top Market Leaders Are:
- Cisco Systems Inc.
- Google Inc.
- IBM Corporation
- Accenture
- Monetize Solutions, Inc.
- VIAVI Solutions Inc.
- Adastra Corporation
- CellOS Software Ltd
- Infosys Limited
- Mahindra Com Viva.
Recent Key Highlights of Data Monetization Market:
- In September 2023, AltHub launched AI-driven Alt data monetization platform called Altlab360, helping firms more easily collect, package and commercialize their data assets. The recently released modular platform from AltHub uses AI to convert unprocessed data into datasets that are suitable for usage. The AltLab360 platform aids data owners in assessing different use cases, properly packaging data, creating market signals, and validating the prediction strength of their data.
Report Scope:
| Attribute | Details |
| Base year for estimation | 2020 |
| Forecast period | 2020 – 2030 |
| Market representation | Revenue in USD Million & CAGR from 2020 – 2030 |
| Market Segmentation | By Method- Direct and Indirect Monetization By Industrial Vertical– Finance, Retail, Telecommunication & IT Manufacturing, Healthcare, Energy and Utilities, Government and Defense and Others By Application– Sales & Marketing, Supply Chain Management, Capital Asset Management and Remote Equipment Monitoring |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Analyst View:
Numerous sectors, including manufacturing, healthcare, finance, and retail, are becoming more aware of the potential of data monetization. They are adjusting their data tactics to cater to the needs of particular industries, which is fueling data monetization market expansion in these fields.
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Top Trends Influencing the Market:
- Data Privacy and Ethics: Heightened focus on ethical data use and adherence to privacy regulations shape monetization strategies.
- AI and Advanced Analytics: Utilization of AI and sophisticated analytics enables businesses to extract valuable insights, enhancing data monetization.
- Real-time Data Monetization: Immediate value generation through real-time processing and utilization of technologies like IoT.
- Blockchain Security: Adoption of blockchain ensures secure and transparent data transactions, boosting confidence in data sharing and monetization.
- Personalization Demands: Monetizing individual data for personalized customer experiences, tailoring services to specific user preferences.
- Subscription-based Models: Exploration of steady revenue streams through subscription services, encouraging businesses to adopt subscription-based data monetization strategies.
Market Dynamics:
The ever-changing forces influencing business environments. These include supply and demand fluctuations, competitive pressures shaping strategies, consumer behaviors driving purchasing patterns, and regulatory factors governing industry practices. Additionally, technological advancements, economic indicators, cultural trends, market segmentation, globalization effects, and supply chain intricacies play vital roles. Businesses must adeptly navigate these dynamics to make informed decisions, stay competitive, and succeed in dynamic markets.
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The Report Answers Questions Such As:
- What is Data Monetization?
- How Big is the Data Monetization Market Size and Share?
- Who Are the Top Market Leaders?
- What are the Recent Key Highlights of the Data Monetization Market?
- What Are the Top Trends Influencing the Market?
- How Do Market Dynamics Affect Business Strategies?
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