The global Data Monetization Market size was $2,092.5 million in 2022 and is expected to reach $9,421.4 million by 2030.
Data Monetization Market Size, Share, and Trends Estimation Report By Component (Tools, Services, Consulting),By Data Type (Customer Data, Product Data, Financial Data),By Business Function (Sales and Marketing, Operations, Finance)Deployment Type (On-premises, Cloud), By Organization size (Small and Medium-Sized Enterprises(SMEs), Large Enterprises)By Region, And Segment Forecasts, 2023 - 2030
Region : Global | Format : 
| Report ID : 51760 | No. of Pages : 250
| Report ID : 51760 | No. of Pages : 250
Market overview:
The global Data Monetization Market size was $2,092.5 million in 2022 and is expected to reach $9,421.4 million by 2030, growing at a CAGR of 18.2% between 2023 and 2030.
Data monetization is the process of turning large amounts of unused or unstructured corporate data into valuable insights and selling those insights for money or in exchange for services. It helps businesses cut costs and make more money by getting them to invest in analytics platforms that can turn unstructured data into useful insights on demand. It is the process of getting the data in an organization's enterprise tools to give up its huge financial value. Over time, these solutions have become more popular because more people are learning about the possible benefits of data mining and more businesses are focusing on finding new ways to grow and make money.
Data monetization is the process of turning large amounts of unused or unstructured corporate data into valuable insights and selling those insights for money or in exchange for services. It helps businesses cut costs and make more money by getting them to invest in analytics platforms that can turn unstructured data into useful insights on demand. It is the process of getting the data in an organization's enterprise tools to give up its huge financial value. Over time, these solutions have become more popular because more people are learning about the possible benefits of data mining and more businesses are focusing on finding new ways to grow and make money.Market Dynamics:
Increase in the use of data-driven decision making
Data is being used by organizations to help them make important choices. Traditionally, data analysis decisions were made based on intuition, hunches, or opinions. However, with the help of Business Intelligence (BI) software and tools, organizations have started to realize that these practices increase profits and can be used to make better strategic decisions. Many companies are following suit and using BI. According to the U.S. Central Bureau Surveys, the number of data-driven decisions made by US manufacturers tripled from 2005 to 2010. Forbes says that 53% of companies are using big data analytics and that by 2019, 60% of IT workers will be using descriptive and predictive statistics from big data. The need to find answers to business questions is driven by the growing need to analyze useful data in different industries. Organizations have access to data and are trying to make the most of it so they can make good decisions, but it's hard for them to get insights from their data that are useful. Data monetization gives people the tools and services they need to look at and handle data to find insights that can help them make decisions.
Restraint: Insufficient organizational capabilities and cultural obstacles
The biggest problems with using big data are how organizations work and what they value. The implementation of data monetization tools is likely to be slowed down by things like not having enough roles and responsibilities, having inefficient organizational procedures, not having the attention and support of management, and not having enough procedures and quality measurements. To make money off of data, you need a certain set of processes, tools, skills, and, most importantly, a culture that encourages the creation of new products and services. To find new ways to make money from data and monetize it, you need a clear business strategy, a strong business unit leader, and a strong team. Monetizing data is all about building a new line of business. It's not enough to give workers the right data set and the right tools. It is also important to tell them about the organization's culture, structure, required skills, processes, and habits that are needed to support the business plan chosen for data monetization.
Opportunity: Increasing use of AI in data handling
Organizations have had to use new technologies like AI, IoT, machine learning, and deep learning because they have to deal with a lot of data and examine it in real time. Organizations are putting a lot of effort into getting BI tools because they are very useful for collecting and analysing a lot of data. Data monetization options can handle a lot of data and help people get useful information from it. Companies have started using BI tools in order to get to the top of the market. For example, many companies use BI tools to analyze their products, services, and customers' behavior patterns based on a huge amount of data. They also use BI tools to analyze large data sets and get analytical insights that can be used to find market opportunities and potential threats and make business plans. As companies try to find ways to meet these needs, data monetization tools can help them manage and integrate their data. Business users can get useful business information from BI tools and data monetization technology to stay competitive in the data monetization market. Because of this, the rising use of BI tools is likely to give data monetization vendors high-growth opportunities.
During the forecast period, the tools area will be a bigger part of the growth of the data monetization market based on components
During the projection year, most of the market is likely to be made up of tools. Data monetization tools are used in business applications to make them more useful and get information from business data, which helps businesses make better business decisions. The data monetization platform has built-in ways to combine structured and unstructured data from different platforms. On the other hand, the data monetization solution helps data monetization providers grow their market shares and make more money by making it easier for them to meet their clients' individual needs.
In terms of services, integration and execution services will have a bigger impact on the growth of the data monetization market over the next few years
During the time frame of the forecast, the integration and implementation service will have the largest share of the market. Implementation and integration services are provided by trained technology professionals who make sure that data monetization tools are used correctly. These services help companies collect and analyze data so that they can make better decisions, be more effective, and cut costs.
During the forecast time, customer data will be a bigger part of the data monetization market based on the type of data
In the coming year, the customer data category will have the largest market size. This important knowledge about the customer helps businesses figure out how to run their businesses. Customer Relationship Management (CRM) tools help organizations gather customer data from campaigns, surveys, social media, and websites. The data is then put together. The customer information helps companies change their positions and find new ways to make money outside of their main businesses. It also helps companies learn about their customers' buying habits and how they decide on product design and price, which helps them tailor their goods and services to their customers' needs. For Instance, Facebook studies user data and sells it to third parties so they can place personalized ads.
Based on the type of deployment, on-premises deployment is expected to be a bigger factor in the growth of the data mining market over the next few years
In the coming year, the on-premises deployment is likely to bring in a lot of money. On-premises deployment means that data monetization options are put in place at the client's location using their IT infrastructure. In the on-premises type of delivery approach, software or solutions are installed and run from the customer's own server and computing infrastructure. The cost of putting solutions on-site is part of a company's capital expenditure (CAPEX). The companies have to take care of their hardware, put in place protection programs, train their employees, update to new versions, and set up backups for data or broken parts. On-premises deployment is usually only affordable for large businesses because it has such high initial costs and needs to be managed by hand. SMEs, on the other hand, don't have enough money or skills. So, it wouldn't make sense for them to add data monetization tools and services on-premises. Due to privacy and security concerns about confidential data, more and more large organizations are using on-premises tools and services for monetizing data. This is likely to make the market for this section bigger.
Based on the organization size, large businesses will contribute more to the growth of the data monetization market over the next few years
In today's highly competitive world, big businesses are always using new and emerging technologies to get a bigger share of the market and improve their total productivity and efficiency. Large businesses have a wide range of ways to make money and a large company network. Because of this, they generate a huge amount of data. Large businesses are eager to spend money on the newest and best tools so they can run their businesses well. Their customers are in many different places, so they need to use data monetization to meet customer needs, control supply chains, and keep their businesses running efficiently in a competitive market. These businesses prefer to keep their tools and the services that go with them on their own grounds. This type of deployment can help them increase their profits and keep their information private. During the forecast period, the market size of the large enterprises segment of the global data monetization market is likely to be bigger than that of the SMEs segment.
Regional Insights:
The global Data Monetization market has been looked at in different parts of the world, such as North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. In the near future, this market will be dominated by the global economy.
North America had 34% of the world market share, and it is likely to keep its lead over the next few years. Rising oil production and shale gas activities are likely to increase the need for indirect data monetization to improve operational efficiency. This will drive the growth of the oil and gas data monetization market in the area. Also, it is expected that the Middle East and Africa will hold 26% of the worldwide oil and gas data monetization market. There are a lot of known oil reserves in Saudi Arabia, Iran, Iraq, Kuwait, and the UAE. This gives the oil and gas data monetization market in these places a chance to grow. There is a lot of room for growth in both indirect and direct ways of making money off of data. For example, software and services that help build data stores can be used to make money. (mainly exploration data products). Seismic and geophysical surveys have been done in the area to find new exploration spots and evaluate their potential. The use of software solutions will continue to drive the market during the forecast period.
Scope of Report:
Scope of Report:
| Report Attribute | Details |
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Estimated year | 2023 |
| Forecast period | 2023-2030 |
| Historic Period | 2017-2022 |
| Units | Value (USD Billion) |
| Growth Rate | CAGR of 18.2% from 2023 to 2030 |
| By Component |
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| By Data Type |
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| By Business Function |
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| By Deployment Type |
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| By Organization Size |
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| By Companies |
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| Regional Scope |
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| Reasons to Purchase this Report and Customization Scope |
6-month post-sale analyst assistance. 10% Free Customization and 15 Company Profiles in addition to the ones specified |
Key Vendors:
- Accenture
- Viavi Solutions
- Infosys
- SAP
- Adastra
- Mahindra Comviva
- Alepo
- EMC
- ALC
- Redknee
- SAS
- Monetize Solutions
- Reltio
- IBM
- Teradata
- CellOS Software
- Altruist India/Connectiva
- Samsung ARTIK
- 010DATA
- Dawex Systems.
- others.
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Accenture
Global professional services provider Accenture has industry-leading expertise in digital, computing, and security. We provide Strategy and Consulting, Interactive, Technology, and Operations services, combining unmatched experience and specialized skills across more than 40 industries. These services are all supported by the biggest global network of Advanced Technology and Intelligent Operations centers. Every day, our 699,000 employees serve customers in more than 120 nations by delivering on the potential of technology and human ingenuity. In order to generate value and shared success for our clients, employees, shareholders, partners, and communities, we embrace the power of change.
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Infosys
Globally speaking, Infosys is a leader in consulting and next-generation technology services. More than 50 nations' worth of clients can navigate their digital transformation thanks to us. Company expertly guide our clients through their digital path thanks to our more than three decades of experience managing the systems and operations of large, international companies. Accomplish this by equipping the organization with a core powered by AI that assists in prioritizing the implementation of change. Additionally, equip the company with agile digital at scale to achieve previously unheard-of levels of performance and customer satisfaction. Their continuous development is driven by our always-on learning agenda, which develops and disseminates digital skills, knowledge, and concepts from our innovation ecosystem.
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Adastra
Adastra Corporation has been transforming companies into digital leaders for more than 20 years by leveraging data to help multinational corporations innovate, accomplish operational excellence, and deliver unmatched customer experiences. Adastra, a leader in artificial intelligence, data, cloud, digital, and governance services, offers businesses ways to use data they can trust and manage, connecting them to their clients and clients to the rest of the world. Locations in Toronto, Calgary, Ottawa, Miami, and Los Angeles in North America. Company have locations in Frankfurt, Wolfsburg, Munich, Darmstadt, Hannover, Magdeburg, Sofia, Varna, and Plovdiv in Western Europe.
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Mahindra Comviva
Comviva is using digital interactions to transform the world. As our customers drive growth, transform, and improve efficiency, our innovative portfolio of digital solutions and platforms offers more option, a quicker time to market, and flexibility to better meet their changing requirements. We collaborate internationally with businesses in the communications and financial industries to quickly solve issues and transform for the future, from maximizing client lifetime value to enabling extensive digital transformation.
Comviva solutions have been implemented by more than 130 communication service providers and financial institutions in more than 90 nations, providing billions of people with the advantages of digital and mobility.
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EMC
Dell EMC is a global American company with offices in Hopkinton, Massachusetts, and Round Rock, Texas. It was formerly known as EMC Corporation until 2016. Dell EMC offers a variety of products and services that help businesses store, manage, secure, and analyze data, including data storage, information security, virtualization, analytics, and cloud computing. The target markets for Dell EMC span a variety of vertical sectors and include both big businesses and small- and medium-sized enterprises. On April 6, 1986, the company's equity (as EMC Corporation) was listed on the New York equity Exchange and the S&P 500 index.
Industry Development:
- In March 2022, Domo made a new deal with Moss Adams, one of the biggest accounting, consulting, and wealth management companies in the United States. The partnership will allow Moss Adams to help its clients use Domo's modern BI platform to adopt analytics. This will help Moss Adams' client-centered strategy even more.
- In April 2022, Exact Corporation and Exact announced a partnership to offer Qlik Sense enterprise-grade analytics to small and medium companies around the world. This was done through an OEM partnership with Exact.
Market Segmentation:
By Component:
- Tools
- Services
- Consulting
- Support and Maintenance
- Implementation and Integration
By Data Type:
- Customer Data
- Product Data
- Financial Data
- Supplier Data
By Business Function:
- Sales and Marketing
- Operations
- Finance
- Others (Legal, R&D, and HR)
- Supply Chain Management
By Deployment Type:
- On-premises
- Cloud
By Organization Size:
- Small and Medium-Sized Enterprises(SMEs)
- Large Enterprises
By Vertical:
- BFSI
- Telecom
- Consumer Goods and Retail
- Media and Entertainment
- Manufacturing
- IT
- Transportation and Logistics
- Energy and Utilities
- Healthcare
Data Monetization Market Regional Insights:
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Conclusion:
The market is growing because the amount of enterprise data keeps going up, big data and analytics solutions are getting better, and it's becoming more important for companies to find new ways to make money from their data. But worries about security and privacy are likely to slow the growth of the market. Also, the fact that more telecom service providers are using data monetization and more people are learning about the benefits of data monetization is a big chance for the market to grow.
The focus of the study is on the growth prospects, barriers to growth, and an analysis of the market for data monetization. The study uses Porter's five forces analysis of the data monetization market to figure out how different factors like the bargaining power of suppliers, the competitive intensity of competitors, the threat of new entrants, the threat of substitutes, and the bargaining power of buyers affect market trends.
Frequently Asked Questions
What is the CAGR of the Data Monetization Market?
The Data Monetization Market is growing at a CAGR of 18.2% During Forecast Period.
Which region had major share in the global Data Monetization Market?
North America region had major share in the global Data Monetization Market.
What are the key players in the Data Monetization Market?
Accenture, Viavi Solutions, Infosys, SAP, Adastra, Mahindra Comviva, Alepo, EMC, ALC, Redknee, SAS, Monetize Solutions, Reltio, IBM, Teradata, CellOS Software, Altruist India/Connectiva, Samsung ARTIK, 1010DATA, Dawex Systems., and others. are the key players in the Data Monetization Market.
