Dublin, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The "Data Monetization Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The data monetization market is estimated to be around US$4.841 billion in 2024 and is anticipated to grow to US$12.585 billion by 2029 at a CAGR of 21.06%
The data monetization market is estimated to grow at a higher rate with the increase in the global usage of the internet. Under the deployment model, the cloud-based deployment is estimated to attain a higher market share. In contrast, the medium and large enterprise size in the enterprise size segments will achieve a significant share. The media and entertainment sector in the end-user industry will grow rapidly as the industry offers a higher volume of data storage.
The growth of internet usage worldwide is estimated to boost the market for data monetization. Furthermore, the introduction of AI is also anticipated to boost the data monetization market around the globe. With the introduction of AI, enterprises can utilize fragmented data to create and develop intelligent ways to monetize data.
The data monetization market is expected to propel further with the growth in the online business landscape. For instance, the increase in the demand for online retail will increase the volume of data that needs to be stored by various e-commerce providers like Amazon and eBay, increasing the utilization of data monetization. The various social media and networking sites, like Meta, Reddit, and X, are also anticipated to attain greater growth with the introduction of AI-powered data monetization.
The rising global cases of data breaches and cyberattacks are forecasted to act as a major challenge to the growth of the global data monetization market. With the rising global cases of data breaches, the companies offering data monetization services have to increase their investments to boost security, increasing the operating cost of the services.
Increasing use of the internet across the globe
One of the major drivers for the global data monetization market growth is the increase in the demand for cloud computing. All major enterprises have shifted to the online space, witnessing the growth of internet usage in the recent few years. With the rise in data creation, the demand for data storage also increased. Cloud computing allows enterprises and personnel to store and utilize data from the cloud using internet connectivity. In this, the data collected by any enterprise are transferred to a remote data center, which can be accessed at any time via the Internet. The increase in cloud computing allows enterprises to easily collaborate with multiple tools and enterprises for data sharing and analytics.
One of the major industries expected to witness major growth with the help of data monetization is the IT and telecommunications industry. The telecommunication industry can benefit a lot from data monetization using AI-powered tools. The AI-powered tools provide further services to the customers and design customizable services for other organizations.
The increasing telecommunication industry in the global market has witnessed a significant boost in the recent few years. According to the International Telecommunication Union (ITU), there were about 4.9 billion internet users worldwide in 2021, which increased to about 5.4 billion in 2023. This rapid increase in the number of internet users increased the volume of data creation.
Increasing incidents of cyber breaches
One of the major restraints to the data monetization market is the risk of data theft and loss through cyber attacks and unreliable data storage. Due to increasing cases of cyber attacks, the globe witnesses the theft and loss of huge volumes of data every year. Similarly, losing data or collecting unreliable and inaccurate data will also challenge the global data monetization market's growth.
The globe has witnessed an increase in global cyber attack cases in the recent few years. According to a blog published by the IT Governance UK, the globe witnessed about 8.2 billion data breaches and attacks in 2023 alone. According to the data published on its site, the enterprise DarkBeam of the United Kingdom observed the total data breaches accounted for the loss of about 3.8 billion data. Similarly, the Real Estate Wealth Network of the USA witnessed about 1.523 billion data leaks in the year. The global social media site X (Twitter) also observed data breaches of about 220 million records.
The risk of data loss arises with the increasing number of cyber-attacks around the globe. Similarly, one of the major challenges for data monetization in the global market is the risk of inaccurate and poor-quality data. The improper data collection procedure and unreliable data storage will also affect data quality, creating a restraint on the market.
North America is anticipated to hold a significant share of the Data Monetization Market
North America is anticipated to hold a major share of the global data monetization market, as the region is among the biggest users of the internet and among the largest creators of data worldwide. Countries like the US and Canada are also home to most of the global analytic enterprises that hold a high volume of data, like Meta, X (Twitter), Amazon, and Reddit, among many others.
The North American region is one of the biggest developers and adopters of new technologies like AI worldwide. This quick pace of technology adoption is sure to boost the market for data monetization in the region, as the solution offers an unmatched digital advantage to enterprises. The region is the global leader in introducing AI and ML-powered technology to the data monetization market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 152 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $4.84 Billion |
| Forecasted Market Value (USD) by 2029 | $12.58 Billion |
| Compound Annual Growth Rate | 21.0% |
| Regions Covered | Global |
Company Profiles
- Accenture
- First Quantum (Adastra )
- Dawex Systems
- Elevondata
- EMU Analytics
- Gemalto NV (Thales Group)
- Infosys
- MonetizeMore
- IBM
- SAP
- SAS AB
Market Segmentation
By Offering Type:
- Solution
- Services
By Deployment Model:
- On-Premise
- Cloud
By Enterprise Size:
- Small
- Medium
- Large
By End-User Industry:
- Retail
- Manufacturing
- Automotive
- BFSI
- Media and Entertainment
- Others
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Thailand
- Others
For more information about this report visit https://www.researchandmarkets.com/r/pjv7qb
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